What are Two Most Important Types of Taxi Insurance?

1

What are Two Most Important Types of Taxi
Insurance?
2
When it comes to taxi insurance, there are
different types of tires for different types of
vehicles. Below is an explanation of the various
types of taxi insurance that are as well as the
types of coverage that are included in typical
taxi insurance.
FABRIKAM RESIDENCES
3
Auto insurance is mandatory for any vehicle used
or stored on a public highway. Taxi insurance is
required when the vehicle is used to transport
passengers for hire and reward. There are two
different types of taxi insurance. Now for both
types, all vehicles must be plated to the
licensing authority.
FABRIKAM RESIDENCES
4
Private Rental
The first is a public rental, which means that
the customer can be picked up from the street,
and the best example of this is the black cab in
London.
FABRIKAM RESIDENCES
5
Private rental cars are those that can only be
reserved by phone or an app and cannot be greeted
from the street. Private Hire Taxi Insurance is
for minicabs and taxis. Private rental taxis are
typically cheaper than public rental taxis, as
the risk is lower.
FABRIKAM RESIDENCES
6
Public Rental
The other type is a private rental, which means
that the whole thing is pre-ordered and already
arranged at the customer, where you must be
picked up from.
FABRIKAM RESIDENCES
7
Public rental taxis are the ones that show a
"taxi" sign and can be greeted from the street,
i.e. black cabs. Public rental insurance is
required for these types of vehicles.
FABRIKAM RESIDENCES
8
Taxi Insurance Coverage Options
Below are some of the most important options
you'll find in typical taxi insurance. These
coverage options are commonly found in both
public and private rental rules.
FABRIKAM RESIDENCES
9
The third party only
The third-party insurance is the minimum coverage
required for a taxi to be legal. It provides
protection to other road users in the event of a
collision where you were found guilty.
FABRIKAM RESIDENCES
10
Third Party, Fire and Theft
This is the same as third party coverage, where
accidents are concerned, even if you are also
covered by fire and theft.
FABRIKAM RESIDENCES
11
Fully Comprehensive
A comprehensive policy gives full protection to
your own vehicle in the event of collisions where
you are guilty.
FABRIKAM RESIDENCES
12
Liability Requirements
Liability requirements are quite a risk when
working as a taxi driver. Therefore, it is always
recommended that you get a good deal of public
responsibility included in your policy.
FABRIKAM RESIDENCES
13
Fleet Insurance
If you are a taxi company and have several
vehicles that you want to insure together, then a
taxi fleet insurance is the best way to do this.
FABRIKAM RESIDENCES
14
Breakdown Assistance
Breakdown assistance is another form of coverage
that can be included in a taxi insurance policy
at an additional cost.
FABRIKAM RESIDENCES
15
(No Transcript)