Having taxi insurance is essential if you’re going to be driving the public around day in, day out. Not only is it important that you cover yourself for your vehicle and any potential damage, but you’ll need to ensure that you cover the public too.
We’re rounding up why taxi insurance is essential and how you can find the right cover for you.
Why is taxi insurance necessary?
If you are involved in an accident without insurance, you risk having to pay huge amounts while also risking being out of work until your car is back on the road.
With insurance, you could be covered for things like:
- Repairing your car in the event of an accident
- Replacing your car if it’s stolen or damaged
- Fixing a car that you have damaged in an accident
- The cost that time out from work
- The cost of personal injury
- Damage to property in an accident
- The cost of a courtesy car whilst yours is being replaced
These are all hugely important to taxi drivers, as they mean that you’ll be able to get back on the road ASAP and won’t lose out financially. Not only this, but it is a legal requirement to have insurance when driving a vehicle on UK roads.
What coverage is recommended for taxi drivers?
As a taxi driver, you need to cover yourself for the mileage and locations that you travel. Most normal car insurance policies won’t cover you for the distance that you will be travelling, so you’ll need to specify that you’re travelling for work purposes and
will be covering long distances.
Not only will you need to consider the distance and mileage, you need to be aware of the fact that you’re dealing with the public day in, day out. This means that you will need to be covered for public liability which will allow people to claim against your policy
in the event of personal injury or damage.
What is public liability insurance?
As mentioned, you will need public liability insurance to cover you when dealing with the public. Although it’s not a legal requirement, it is highly recommended that you get public liability insurance to cover you in the event of an altercation with a member of the public who you will be driving around.
This insurance will cover you for an array of things including but not limited to:
- Public property damage
- Public injury
- Public legal costs
- Your own damage and legal costs
- Compensation costs to yourself and others
As you can imagine, this kind of comprehensive coverage is essential for taxi drivers who will be dealing with the public.
How can you find the right insurance for you?
If you want to find the right insurance for your taxi cab, or for your fleet of drivers, then you will need bespoke insurance policies that meet your specific needs.
To learn more about the ways that you can use software to craft the perfect insurance policies for your people, get in touch with Stubben Edge to learn more.
Take a look at our guide to loyalty management softwares to learn how you can gain and maintain customer loyalty.