Public Hire taxis are the ones which you call upon specifically from your home to run you an errand or to simply take you to where you want to go, they are a bit more personal and as with all taxis even you public hire taxi needs insurance!
Just like you insure a personal car, a taxi needs insurance too. However it is somewhat complex to get public hire taxi insurance as most drivers do not have the information needed for taxi insurance. To get the right kind of insurance for your public hire taxi you need to know about the taxi insurance market in more detail before you get any kind of insurance coverage. Taxi insurance is an absolute must for those who are out all day ferrying passengers to their desired destinations, this job involves a lot of responsibility and it has a lot of risks involved with it that the first step as to why public hire taxi insurance is quite necessary.
Insurance of any kind covers your business’s financial status entirely in case your taxi meets with an accident. Since accidents cannot be foreseen before hand it is necessary to take precautions against it. Insurance provides the precaution you need to take for the sake of your own life and the life of your passengers; if a public hire taxi meets an accident without any insurance coverage there is a heavy price that the company is going to have to pay for. Insurance helps ease the financial burden, in case of an accident, on your company. There are 3 kinds of insurance, comprehensive, fire and theft and third person insurance. In case of an accident with a passenger on board, your third person insurance will help in covering all of their medical costs as well if any. Comprehensive insurance on the other hand takes care of all the day to day repairs or services that would be needed by your taxi, such as oil changes etc.
Without insurance stiff penalties maybe brought upon your company, that’s why it is necessary for you to insure your public hire taxi today.