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| Taxi Insurance |
Obtaining taxi insurance is a legitimate part of responsibility, not only for passengers but also for taxi drivers. Transportation companies in Western countries such as the United States and United Kingdom require adequate insurance to ensure that motor vehicles, travelers as well as drivers are covered in the event of a car accident. Like insuring a private car, insuring a rented public or private vehicle is a way to protect an organization or company from liability.
Vehicle rental coverage and policies can be very confusing and vary by country or state. However, there are many universal conditions or requirements that must be met before a transportation company or owner can be considered for coverage.
- Drivers or operators must not be younger than 25 years and must not be older than 65 years and without physical disabilities.
- In the UK, some insurance companies accept drivers as young as 21 years old.
- All taxis must operate according to the registered fare.
- Drivers must have a clean record and have never been convicted of possession of a weapon, DUI, DWI, vehicle homicide, and have no record of narcotics and drug incidents.
- All passenger cars that are rented must be inspected and maintained frequently.
- The driver must have a valid driver's license and also have driving experience of more than 2 years in the United States. This may change depending on the country, state, or the insurance company itself.
Obtaining taxi insurance is significantly more expensive than insuring an individual car because it is meant to protect both the company and the owner or driver, passengers and others. In addition, insurers take into account that hired vehicles usually have extra mileage compared to privately owned cars, making taxis more prone to incidents.
The type of taxi business also affects the premium. Public charter taxis have higher premiums because they receive more attention and also have longer mileage. Private charter taxis rely heavily on scheduled appointments and tend not to park in public areas. Will Usually get a lower rate.
A comprehensive policy for taxis from Falcon insurance may cover theft, vandalism, fire and other accidental damage regardless of who is to blame, but remember to look at your policy to make sure this is the case. Third party policies cover damage caused by taxis to other people or property. Add-ons such as road rage protection and legal fee coverage provide additional protection but will obviously be more expensive than the regular package.
Some business or taxi owners have jumped from attaching liability insurance to their existing policies due to increased annual rates. However, it separates the organization and owners from any responsibility for the business when lawsuits are filed against the company or owners.
Without them, the organization, its assets and even the personal property of their owners are vulnerable to lawsuits and other legal action. To ensure protection, get liability insurance under a current policy. In this way, the taxi insurance company will bear the costs and the property of the company or the owner will not be touched by the state.
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