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How does taxi insurance work and protect me?

Date Added: November 18, 2011 10:49:18 AM
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How does taxi insurance work and protect me?

Having a taxi business is a worthwhile endevour but as most businesses have risks which must be protected. Insurance is therefore required to protect the taxi business. The types of insurance required for a taxi business are:

•    Breakdown insurance
•    Business interruption insurance
•    Employer’s liability insurance
•    Gap insurance
•    Legal expenses insurance
•    Public liability insurance
•    Third party liability insurance
•    Vehicle insurance

As with all vehicles, accidents and claims can occur at any time. But insurance can be high unless your vehicle has:

•    Approved alarms fitted
•    Special locks
•    Tracking devices fitted

Taxi insurance is similar to business insurance and will require the services of a specialist insurance broker. The broker will have many years of experience in insuring taxis

and will be able to obtain the right package for your circumstances.
Once the premium has been agreed, the insurance broker will send the cover note and the insurance documents. You will need to read them carefully and correct any obvious

errors quickly.
Adjust the excess to see if the premiums result in any additional savings.
Read the taxi insurance term and conditions carefully and store the documents in an easy to find place.
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