Taxi drivers are part of a particular automotive service industry that benefits greatly from the advantages that taxi insurance has to offer. Anyone who needs to transport strangers constantly will rest easy knowing that any of the incidents they could be implicated in are covered by their insurance company.
Making Sure You Are Covered
There are four general types of taxi insurance that are available for the taxi driver, and a responsible driver should be sure that he has all of them covered. There are very few reasons why a taxi driver should skip out on any of the insurance policies presented below- especially since a minimum level of specialized insurance is already required by law.
Types Of Taxi Insurance
- Third Party Only - The lowest legally-allowed insurance obligation that a taxi driver is obliged to make is third party insurance. This may be the cheapest type of insurance but it cannot be expected to cover the personal damages and other important costs relating to taxi driving incidents that may occur.
- Breakdown Recovery - An absolute must for taxi drivers, breakdown recovery offers support when your vehicle breaks down. Considering the amount of driving that the average taxi driver must do in comparison with motorists in general, this is too valuable an insurance policy to pass up.
- Public Liability - Every motorist must have some level of public liability coverage. The greater your coverage, the more it will cost - but you will win out in the end, should you ever find yourself in the position to be liable for damages in a court of law.
- Comprehensive Coverage - By far the best type of insurance coverage for taxi drivers, comprehensive coverage offers insurance that will cover all types of road incidents and accidents, whether the driver is liable or not. This allows the driver to make claims for theft, vandalism, and even random natural events.
Choosing Your Insurance Plan
Going out onto the road with inadequate insurance is too risky a proposal to condone. Even though a comprehensive plan that covers everything might seem expensive, it easily pays for itself after even a single incident covered.
Since taxi drivers spend so much more time on the road than other motorists, it is absolutely recommended that they get the highest level of taxi insurance possible, since it is only a matter of time before a claim needs to be made.