Your Guide To Taxi Insurance
Many taxi drivers end up purchasing high priced insurance policies, this is mainly due to lack of proper information on how to purchase taxi insurance for a cheaper rate.
In this article I am going to give you a detailed explanation about types of insurance policies for taxi and how you could purchase cheap taxi insurance.
Taxi insurance is very similar to any vehicle insurance, you need to purchase accident or damage policy, fire accident policy, theft or loss insurance and also third party claim insurance policy.
Apart from these types of policies the taxi insurance also encompasses something known as fleet insurance.
This type of policy is very helpful for those who own more than 2 vehicles and would like to get all their vehicles covered by a single provider.
Let's start analyzing each and every individual policy in order to know why it is important and how you can save money by getting a cheaper quote on those policies.
The basic is of course your accident/damage and fire insurance policy.
As the name indicates it provides coverage against any damage to your vehicle due to an accident or physical damage.
This policy is the bare essential if you plan to run a taxi business.
The easiest way you can get a huge rebate on this type of taxi insurance policy is to show to the insurance providers that you park your vehicle in a safe location, like a garage or safe neighborhood when not in use.
The second type of policy is the third party liability policy.
This type of policy protects when third party or third party property has been damaged due to your taxi.
This policy is compulsory to run a taxi business.
The easiest way to get a cheaper quote on this type of policy is to show to the providers that you have a good driving record.
Coming to the special types of insurance there is fleet insurance.
As mentioned earlier this type of policy provides a complete coverage to a fleet of taxis owned by a single person.
This policy not only provides complete coverage for all the vehicles but also costs very less compared to individual policy for each vehicle.
The other types of policies include private hire policy or public hire policy.
These policies are based on the type of taxi business you would want to have.
The best place to buy cheap insurances is to buy them online.
Many companies offer a huge amount of discount and rebate on taxi insurance if they are purchased online.