Taxi business is getting to full bloom now days in UK. Due to increase in tourism and people living away from their workplaces, they choose not to go by their own. Rather they prefer going by taxi. In this era of competition, companies are buying more and more taxis. But this taxi business is full of risks. Taxi insurance is required to overcome the cost of risk, damage and other expenses caused to the vehicle. There is three types of taxi insurance policies provided by different companies in UK: fully comprehensive, third party fire and theft and third party. Private hire insurance policies and public hire insurance policies are also available.
The most expensive insurance policy is of fully comprehensive, which covers all the fields including fire and theft of third party and damages caused to the taxi by third party.
Third party fire and theft insurance policy is a cheap insurance policy that gives cover to third party in case of theft, fire or any kind of explosion.
The cheapest of all taxi insurance is the last type of taxi insurance, third party insurance. With this type of insurance only the damages caused by taxi to the third party can be claimed for.
Taxi insurance is a legal requirement. At least a simple insurance plan can save you from a lot of trouble. There are some other features of taxi insurance policy in UK:
• Immediate cover, 24 hours
• Discounted rates
• No claim bonus, where one can get bonus on the premium of the policy
• Protected bonus on a level of no claim bonus
• Quotes on weekly, monthly, quarterly, 6 months and annual basis
• Any driver cover
• RAC breakdown cover
• Extra protection cover
• Personal accident cover
• Public and employee liability cover
• New drivers cover
• Young drivers cover
• New business
• Discounts for new taxi drivers
• Discounts for experienced taxi drivers
• Free legal expanses
• All levels of cover
• Breakdown cover
• Windscreen cover
• Claim assistance
• Replacement covers
• Fire and theft cover
• Flexible payment options etc
There are many taxi drivers who tries to cut corners. But it is not wise to go for cheap taxi insurance policy that cannot even provide you with adequate coverage and your required covers. It is worth considering a taxi insurance policy with features that cover up all you requirements and that is into your budget. Cutting your cost and selecting cheap insurance policy do not provide you with much quality and coverage.
The best way to select an excellent taxi insurance policy is to make a note of everything that is required. Every taxi owner has to deal with passenger liability. Make sure you have a proper cover for it that saves you from getting into complications with passengers.
Hence adding right features to your taxi insurance policy will give you the right coverage. All you have to do is a bit of homework and as a fruit you get an excellent insurance policy
Features of Taxi Insurance Policy
