A Guide to Taxi Insurance
Get taxi insurance & protect your vehicle & yourself.
Types of Taxi Insurance
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Public Hire Taxi Insurance: For drivers who can pick up passengers from the street without prior booking (e.g., black cabs).
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Private Hire Taxi Insurance : For drivers who only transport passengers who have booked in advance (e.g., Uber or minicab drivers).
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Comprehensive Coverage: Includes third-party, fire, and theft protection plus damage to your vehicle.
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Third-Party Only: Covers damages or injuries caused to others, but not your vehicle.
Third-Party Vs Comprehensive Taxi Insurance
Definition
Comprehensive taxi insurance offers the highest level of coverage, including all third-party benefits plus protection for your vehicle and other incidents.
Third-party insurance is the minimum level of cover required by law for taxi drivers. It only covers damage or injury to others if you're at fault in an accident.
Coverage
It covers Third-Party Liability, Your Taxi, Fire and Theft, Vandalism, Windshield Repairs.
It provides Damage to other vehicles, Injury to other road users or passengers, Damage to property.
Legal Requirement
Comprehensive insurance provides much more protection and is worth considerin.
If you're driving a taxi, third-party insurance is the minimum legal requirement.
Cost
Comprehensive insurance can be more cost-effective in the long run, especially if you want to avoid out-of-pocket costs for repairing your own vehicle after an accident.
Third-party insurance tends to have lower premiums,
Exclusions
Wear and tear, Driving under the influence, Non-approved modifications.
If your car is damaged or written off in an accident, theft, or fire, third-party insurance won't cover the repairs or replacement.
Notion Insurance Broker Pvt. Ltd. delivers customized insurance solutions designed to meet the diverse needs of businesses and individuals.