There are several benefits and protections to getting insurance for a taxi. For starters, it is a legal requirement under the Road Traffic Act of 1988. You risk losing your license, and job, if you take the chance of driving without insurance. Whether you drive a minicab or black cab, are public or private hire, having insurance could save you thousands of pounds by protecting you in the case of an accident. Not only will the right insurance policy help pay for medical expenses should you be involved in a crash, but it will also pay for repairs and damages to your vehicle and any other vehicle or property damage. Your insurance carrier will take care of the repairs to help you get back on the road and back to work. Insurance coverage can also keep you protected after an accident by offering liability coverage that can protect you from personal injury and property damage claims.
Some policies offer extra protection for taxi drivers, including loss of earnings, which can help you if you are ever involved in an accident that prevents you from working. Another insurance option is breakdown cover. If you have mechanical problems with you taxi, this insurance will help pay for the repairs. Having the right taxi insurance can help you worry less and focus on the road ahead.
You face a lot of potential problems and worries if you drive uninsured. Not having taxi insurance puts you at risk, even if you are never involved in an accident. You face the possibility of fines and even having your taxi licence revoked. If you are ever involved in a crash, the costs to you could be enormous. You could be responsible not only for repairs to your vehicle, but for any medical expenses and any other damage caused by the crash. It is risky. You also could become a target for liability lawsuits that could result in a long, legal process. Having taxi insurance coverage will give you peace of mind and less to worry about. You, your passengers and your vehicle will all be protected by the right insurance policy.
