Taxi insurance provides protection to drivers The job of a cab driver is very tiring since he has to spend all day traversing the high traffic pollution ridden while ferrying passengers safely from one end of the city to another.
Cab drivers are provided cover against damage to health and property in times of road mishaps, fire and explosion under auto insurance policy.
If the taxi company owner chooses a fleet insurance policy, then he can get all his drivers covered under a single plan.
An insurance cover for drivers keeps them from worrying about expenses during accidents and helps then concentrate on their job.
A taxi company owner should train his drivers in defensive driving in order to provide extra safety to the driver, the passengers and third party.
Taxi insurance provides protection to vehicles Taxi company owners spend a considerable amount of money on acquiring good vehicles and maintaining them.
When accidents occur, it is the vehicle that bears the maximum brunt of the collision and is damaged.
In cases of extreme impact, the vehicle can be rendered unusable causing heavy monetary loss to the company.
auto insurance provides financial cover for such damages.
If new vehicle has to be purchased owing to severe damage to the existing vehicle, then taxi insurance covers that too.
Insurance can be taken for the whole fleet of vehicles under a single policy.
Taxi insurance provides protection from thefts and fire Taxi insurance provides cover when the vehicle sustains severe damage due to fires.
Risks of explosions also cannot be ruled out.
In either case, auto insurance policy provides financial help.
However, if loss occurs due to thefts or explosion, the insurance company conducts thorough investigation to ensure that the damage was not intentional.
In case suspicious behavior is noticed, the taxi owner will have to face severe consequences.
However, in times of genuine fire damage and thefts, having car insurance to fall back on is a reassuring thought.
Taxi insurance provides protection to a passenger and third party When accidents happen on the road, the passengers and the third party involved in the accident also sustain injuries and damage to property.
In case of major accidents, the damage may be severe.
Taxi insurance provides cover to passengers and third party in case of accidents and fire.
The cover includes monetary reimbursement for damaged property and footing medical expenses.
Taxi insurance provides protection from legal expenses Many times, passenger or a third party involved in an accident slap lawsuits on the taxi company for damage of health and property.
Since legal battles are long drawn out, and the other party is not prepared for an out of court settlement, then the taxi company will have to shell out a lot of money on attorneys and lawsuits.
Having car insurance provides help in fighting legal battles.
Some companies recommend their own attorneys.
Lawsuits can hit small taxi companies very hard of they do not have a safety net to fall back on.
Therefore, taxi insurance is necessary have for all taxi companies.
Its importance cannot be stressed upon sufficiently.