Extra Features on Taxi Insurance

 

Taxi insurance is basically just a type of car insurance. However, taxi insurance does have some important extra features and differences from normal car insurance. Most taxi drivers are very aware that they are required to be properly insured to drive at all - the minimum requirement is that they make sure that they always have adequate third party taxi insurance.

So taxi insurance is similar to car insurance in many respects. The reason it is called taxi insurance is that taxis are not allowed simply to insure themselves with normal car insurance. They must have specific taxi insurance if they are going to operate as a taxi service and transport members of the public for a fare.

Taxis must be insured as cars, with the associated risks that cars driving on roads carry, and therefore most of the factors that affect the cost of car insurance will also be relevant when calculating taxi insurance premiums. However, taxis are also dealing with the public and carry the dangers that all businesses that deal with the public carry. If a passenger trips up while exiting the taxi and sprains their ankle, or if you are involved in an accident that causes whiplash or some other serious injury, then you will be at risk of being sued by the passenger. This is why taxi insurance, as well as carrying the normal aspects of car insurance, will also need to protect you against public liability claims which can be made by passengers.

These days, more and more people are willing to sue. The courts are reporting a large increase in the number of personal injuries claims that people are making against businesses and public authorities. It is a trend that has largely been imported from the United States and is only set to grow here in the UK. You really must be prepared for these types of risk and ensure that you are properly protected through insurance, and taxis carry large numbers of people each day.

Taxi insurance will also have traditional features that people expect to find on regular car insurance. For example, many drivers pay extra to insure their windscreen. This means that if you claim on your windscreen you can keep your no claims bonus. This is a big advantage as the windscreen is one of the most common areas of a car to get damaged, and can be very expensive to replace. If you shop around for good taxi insurance you may be able to find a policy that includes windscreen insurance at no extra cost.

Also, taxi insurance can also include the ability to carry over your no claims bonus from another insurer. Taxi insurers, just the same as car insurers will give you a no claims bonus for all the years that you have had your policy without making a claim on it. This can significantly reduce the price you pay for your taxi insurance. If you are allowed to carry this bonus with you when you switch companies, it makes doing so far more economical.

 

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