Unfortunately,does tend to be more expensive than car insurance. There is a good reason for this, as with a taxi, you are transporting people that you know nothing about, they are not your friends, they are purely travellers wanting to get to a destination. On the way while being driven to where they want to go, they may behave perfectly, but on the other hand, they may have had too much to drink and trash your taxi. The way things are today, there is even a chance of your being held at gunpoint and even forced out of your taxi. You just never know what your passengers are going to do.
There are many insurers out there waiting to offer you their policies, with most giving cover for
• Short term – monthly, daily or weekly taxi insurance
• Cover for owner operators and for part-time drivers
• Competitive premiums
• Insurance cover for every type of taxi – black cabs, people carriers, minicabs or minibus
• Taxi insurance for under 25’s
• Claims management service
• Introductory discounts for new ventures
• Tailor-made policies
The various insurance companies often specialise in drivers who have had few or no claims but will also look into insuring those drivers with adverse claims or conviction history. They do offer competitive premiums for those drivers that are under the age of twenty-five.
It is worthwhile adding an all risk section to the policy; you never know what can happen in your taxi. For example, if your passengers rip the seating, you do not want to have to pay the repair yourself, you want to be a position to claim from insurance for it.
Likewise, should a problem occur while transporting passengers and an injury inflicted through an accident, they might decide to sue you for medical costs. This could prove hefty; claiming from your insurer will be an option.
In addition, make sure there is a clause covering you should your taxi suffer a breakdown and need lengthy repair, you want to be able to use a substitute in the interim.
All periods of cover including weekly taxi insurance are available at taxiprotection