The job of a cab driver is very tiring since he has to spend all day traversing the high traffic pollution ridden while ferrying passengers safely from one end of the city to another. Cab drivers are provided cover against damage to health and property in times of road mishaps, fire and explosion under auto insurance policy. If the taxi company owner chooses a fleet insurance 的士司機租車 policy, then he can get all his drivers covered under a single plan. An insurance cover for drivers keeps them from worrying about expenses during accidents and helps then concentrate on their job. A taxi company owner should train his drivers in defensive driving in order to provide extra safety to the driver, the passengers and third party.
Taxi company owners spend a considerable amount of money on acquiring good vehicles and maintaining them. When accidents occur, it is the vehicle that bears the maximum brunt of the collision and is damaged. In cases of extreme impact, the vehicle can be rendered unusable causing heavy monetary loss to the company. auto insurance provides financial cover for such damages. If new vehicle has to be purchased owing to severe damage to the existing vehicle, then taxi insurance covers that too. Insurance can be taken for the whole fleet of vehicles under a single policy.
Taxi insurance provides cover when the vehicle sustains severe damage due to fires. Risks of explosions also cannot be ruled out. In either case, auto insurance policy provides financial help. However, if loss occurs due to thefts or explosion, the insurance company conducts thorough investigation to ensure that the damage was not intentional. In case suspicious behavior is noticed, the taxi owner will have to face severe consequences. However, in times of genuine fire damage and thefts, having car insurance to fall back on is a reassuring thought.
When accidents happen on the road, the passengers and the third party involved in the accident also sustain injuries and damage to property. In case of major accidents, the damage may be severe. Taxi insurance provides cover to passengers and third party in case of accidents and fire. The cover includes monetary reimbursement for damaged property and footing medical expenses.
Many times, passenger or a third party involved in an accident slap lawsuits on the taxi company for damage of health and property. Since legal battles are long drawn out, and the other party is not prepared for an out of court settlement, then the taxi company will have to shell out a lot of money on attorneys and lawsuits. Having car insurance provides help in fighting legal battles. Some companies recommend their own attorneys. Lawsuits can hit small taxi companies very hard of they do not have a safety net to fall back on. Therefore, taxi insurance is necessary have for all taxi companies. Its importance cannot be stressed upon sufficiently.
The top most requisite before starting taxi business is to get it covered by insurance. It is a type of business that entails the liability for road users as well as the passengers travelling in a taxi apart from the business owner. Having valid taxi insurance is a must before landing on the road, no matter whether the taxi is being used for public use or private use or whether it is operated by owner.
Taxi insurance is more expensive than private car insurance because this type of insurance has to compensate for the injuries caused to the passengers travelling in the taxi. Moreover, the taxis remain on the road for longer time as compared to the private owned cars. For breakdown, accidental loss, damage to the windscreen for the private and public cabs, cash cover policy is also offered. If in case, after the accident, the taxi gets damaged and the condition becomes non workable, then there is a facility of cab replacement available. Moreover, if in case the passengers travelling in the taxi or any of the road users sue the taxi company owner, then it becomes the liability of the insurance company for the payment of all the legal expenses. Nowadays, there are number of insurance companies that come up with various bonus earning schemes.
Comprehensive insurance policy – It is one such insurance which provides the owner with cash cover in case of any theft, vandalism, fire or any type of the damage which is caused to the taxi by an accident whether due to the driver’s fault or any other reason.
To get the maximum benefit from taxi insurance, it is always recommended that one should opt for the full comprehensive insurance policy if the taxi is used for personal use. One must opt for the public liability insurance as well because it gives protection to the employees as well as other people who get injured by the taxi.