Taxi Fleet Insurance
Written by admin on March 10th, 2010
Insurance Brokers who specialise in offering cover for individual taxi insurance are not necessarily the best placed to offer you expert advice and rates for your taxi fleet insurance.
A lot more fleet insurance companies are now willing to look at taxi fleets which is great news as the old fashioned stigmas associated with taxi fleets are fast disappearing which can only be good news for all involved in the taxi trade and fleet insurance market.
To find the best provider for your taxi fleet insurance it is advisable to source a company who specialise in any other type of fleet insurance, as this will be the important expertise which is applied to your taxi fleet insurance policy.
Some of the aspects for taxi fleet insurance which need to be considered are:
The legal implications of carrying passengers for reward and hire
Policies should ideally provide cover including legal liability for death or bodily injury to any person, including passengers
Policies should also include damage to any other person’s property, including passengers
Accidental damage to the vehicle
Fire or theft of the vehicle
Malicious damage to the vehicle
Taxi fleet like other fleet insurance should cover when necessary a combination of vehicle types
In the same sense it should also be able to cover a mixture of types of cover – fully comprehensive, third party etc.
Ask about how much your excess is to avoid any nasty surprises at the time of a claim
How much taxi experience is naturally very relevant, and you will need proof of this with the length of time a taxi driver has held their taxi badge with the local authorities
Bear in mind that you can save a substantial amount of money by restricted driving on your taxi fleet insurance. The greatest savings are to be had if the taxi is restricted to one driver.
What is considered a taxi fleet varies from broker to broker a little, but the rule of thumb is normally three to five taxis and in some cases two.
Obviously running a taxi firm is challenging, time consuming and difficult at times, and it is important to have as much peace of mind as possible with your taxi fleet insurance. This way its one less thing to think about!
Ideally you will want to tick all the boxes and get yourself a cheap taxi fleet insurance, but be assured that all your requirements are covered.
Taxi fleet insurance can include private hire, public hire and contract hire taxis. You will want to consider additional public liability cover also.
One of the worst case scenarios will be in the case of an accident. You will need to feel reassured by your provider that the accident and claims procedure is on your side, and will be efficient and effective.
Choose a company who has a vast experience in dealing with taxi fleet insurance and knows exactly what you will need from your chosen fleet insurance broker. A good firm of fleet insurance specialists are more likely to be able to offer you a more competitive rate for your taxi fleet insurance.