Archive for the ‘Insurance’ Category
Insuring a Taxi
Taxis are an almost universally available method of transport for a single individual or a small group. Taxis range from the street taxi that can be hailed with a hand gesture to private hire vehicles that can only be hired with previous booking. The rates for taxis are usually governed to some extent by where the taxis drive, but rates have a tendency to vary depending on how quickly a passenger needs to reach there destination. Uses of taxis aside though, if you own a taxi, how can you get is insured and what should you look for as far as what a taxi insurance policy should cover?
Just as all other motorists are required to have insurance in order to drive legally; taxi insurance is an absolute must in order to operate a taxi legally. Since taxis carry passengers from place to place for a fee, some of the provisions of the insurance are a bit different than some of the provisions of regular automobile insurance. Along with the insurance, it is important to make sure that the taxi is licensed with the appropriate licensing authority.
The type of insurance you should purchase depends on whether your taxi is a private hire vehicle or purely a public hire taxi. Private hire insurance is for those taxis that only pick up prearranged appointments. These taxis usually also work out of taxi offices. The other kind of taxi, the public hire taxi, requires public hire taxi insurance. These are the kind that can be seen all over the place and pick you up when you hail them.
Taxi insurance quotes are available from many different sources and one of the easiest ways to get one is online. Several websites will give you a free online quote for taxi insurance based on your answer to a few simple questions. Along with receiving a quote online, many companies allow you to actually purchase the insurance while you are online as well.
A variety of different types of vehicles can be classified as taxis and fall under the jurisdiction of taxis. For example, estate cars are a common form of taxi and if they have a diesel engine, then they get even better mileage than their gasoline fueled counterparts. Depending on the licensing authority, minibuses can be viewed as taxis and require taxi insurance, but it is important to thoroughly research this matter in order to definitely find out what type of insurance is necessary.
Considering the drivers that will be put on the insurance is another important consideration when procuring taxi insurance. Keep in mind though that the price of the insurance increases as the number of drivers that are insured increases. Depending on your status when starting out as a taxi driver, the amount of insurance premiums you pay will differ. A good driving record is a definite plus, but nothing can really compare to experience and this is evident in the amount that rates drop when an experienced driver is insured. Be sure to consult experts before deciding which taxi insurance package is right for you.