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WHY CHOOSE TAXI INSURANCE WITH REDMETRO
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Anyone that drives a taxi will know how important having adequate insurance can be. Because of the sheer amount of hours spent on the road accidents can and do happen, and it’s only by having taxi insurance in place that you can be sure that your interests are well and truly protected.
But, taxi insurance can often be difficult to source. It goes without saying that you need a higher level of cover than you do with regular car insurance, and because it’s so specialised not all insurers will be able to give you what you need. There are, however, plenty of specialist taxi insurance firms out there, and if you spend the time to do your research you’ll have no problem finding what you need.
That’s probably the most important thing to remember research. Every company will be able to offer slightly different policies, so if you want to make sure that you’re getting the best cover you need to compare several options. You can do this the old fashioned way or you can consult comparison sites, but either way comparisons can be invaluable in helping you make the right decision.
Always look for the most comprehensive level of cover that you can. No matter what type of taxi you run, whether it’s a private hire or black cab, you should look for adequate cover to meet your needs.
But, remember the insurance isn’t just there to help you out financially it is also a legal requirement. All taxis have to be fully insured before they can operate legally, and failing to do so can lead to severe consequences. Not only will you lose your livelihood but you will be fined and could even face a jail sentence, so it makes sense to be completely covered.
You may also need to be prepared to spend slightly more than you would on insurance for private vehicles. Taxis are deemed as high-risk because of the amount of time that they’re in use, and because of that accidents are deemed as being more likely. Insurers will account for this by asking for higher premiums, but there are things you can do to reduce them. Look for companies that can offer generous joining or no claims discounts, for example, or consider increasing your excess instead.
So, never underestimate the importance of taxi insurance. As long as you understand the implications and look for the best level of cover that you can then you shouldn’t need to worry. In most cases there’ll be some options out there to cover you.
Types of Taxi Insurance
Suitable private hire taxi insurance should always be sought for anyone wanting to work in this business. Not only is it a legal requirement to do so (the penalties of not complying can include a revoked licence, a fine, a loss of income and even a jail sentence), but if you don’t have adequate insurance in place you stand no chance of getting a taxi licence or being able to work in a regulated fleet.
Public hire taxis are any cabs that can offer pick-ups from the street or taxi rank, and are often seen on today’s roads. They offer a valuable service to stranded travellers and can be a lifeline for those needing to get places quickly and easily, but if you intend to drive one you always need to have adequate public hire taxi insurance in place.
Effective black taxi insurance is essential if you want to protect your financial interests. If any accident were to occur you’d be held personally responsible for any costs that were to be incurred, but if you have adequate insurance you’ll be completely covered. As well as helping you out it’s also a legal requirement, and you simply won’t be able to operate legally without having any insurance there.
Owning or managing a taxi firm can come with a whole host of responsibilities. You not only need to ensure that your business remains profitable, but you also need to make sure that all of your drivers are operating legally. Having fleet taxi insurance is therefore just one of these essential obligations, and if you want to protect your interests (and those of your drivers) you need to make sure that you are completely covered.