What is Taxi Insurance?
Taxi insurance is the cover for taxi drivers and the vehicles they use as their taxis
Why do I need taxi insurance?
Every vehicle on the road needs to have an appropriate insurance cover and Taxis are no exception.
Legal Requirement:
Taxi insurance is required by law. You could risk legal penalties, fines, and even the loss of your taxi license if you do not have sufficient taxi insurance. This means that having adequate insurance coverage is not only necessary for your own security, but it is also required by law.
Financial Protection:
Taxi insurance can protect a taxi driver’s job as well. If their vehicle is stolen or destroyed, they may be unable to work or earn a living until it is repaired or replaced. Insurance can assist cover the price of repairs or replacement, as well as lost wages during this period.
Passenger Safety:
In the event of an accident, passengers may sustain serious injuries or even death, and taxi insurance can cover medical fees, liability claims, and other accident-related costs.
Peace of Mind:
Taxi insurance can also provide both the driver and their passengers with peace of mind. Knowing they are sufficiently insured in the case of an accident or other unexpected incident can help to alleviate tension and anxiety for everyone involved.
SOURCE: Covergist.com