When you drive a taxi, you need to get a special form of insurance. This insurance is specialist cover that focuses on the things that are important to taxi drivers in particular. Not everyone needs specialist taxi cover though. This is a guide to taxi insurance, and whether you actually need it.
What is Taxi Insurance?
Why is Taxi Insurance Different?
Taxi-specific Insurance has to cover different things than regular car insurance does. Taxi drivers usually drive significantly more miles a year than regular drivers do. That means that there is a significantly higher risk of damage and wear and tear for taxi policies. Taxi policies also have to consider taxi passengers too. This adds a new element of risk for insurers to cover.
Do I Need Taxi Insurance?
This type of insurance is for more people than you might think. There is not one type of taxi driver, nor is there only one type of taxi insurance. If you drive people for money, you are a taxi driver for insurance purposes. This is not dependent on whether you are a private or public driver (or a driver for a ride share service).
What Does Taxi Insurance Cover?
Taxi Insurance covers both you and the taxi. That means a comprehensive (or third party fire and theft) policy for your vehicle. We can also cover your taxi against breaking down. Our policies even allow you to use your vehicle for personal use. Taxi Insurance can cover you for public and employer’s liability – so that the people in your taxi, both drivers and passengers.
What Does Taxi Insurance Not Cover?
There are some things that our taxi policies cannot cover. Essentially, insurers want to make sure that you have done your best to look after the taxi, and not taken any unnecessary risks. This means that insurers usually will not cover the theft of a taxi which had the keys in the vehicle, or other unsafe use of the vehicle. We also cannot cover taxis that are used outside of the region they are registered to. Finally, we are unable to cover taxis for drivers with driving convictions.
When you need to insure your taxi, get in touch with Babal Karama Project Management Services. Let us use our years of specialising in taxi cover to help find you the best deals on the market.