Taxi Insurance

If you are facing a yearly renewal notice, it may be in your best interest to take a look at the other options for your own personal taxi or fleet rather than remain with one insurance agent year after year.

For those who have never obtained taxi insurance to date, there are several choices out there, many of which will provide much the same options and packages for operating taxis in your area. The main differences will be overall cost.

While first-time insurers may find themselves faced with higher premiums, others may benefit from yearly discounts from consecutive years of operations without an incident.

Interest rates do fluctuate from year to year and many companies will offer loyal customers discounts and benefits, so be sure to talk to your taxi insurance agent about any discounts or packages that you may be eligible for when it comes time to examining your premium costs.

If you are the sole owner and operator of your automobile as a licensed taxi you may be eligible for a decrease in your taxi insurance premiums since there will only be one registered driver of your vehicle.

When shopping for an insurance quote be sure to talk to the local agent about the difference in premiums costs for those who operate their personal taxi as opposed to those who are insuring a fleet of taxis and require additional insurance to cover more than one driver for each automobile.

If your taxi will also be operated as your own personal vehicle during the off-hours, you will require further comprehensive insurance to extend during the time where you will not be using your vehicle for working purposes but rather for personal use.

If you are the owner of a taxi service and need to insure a fleet, do not feel that you will be subjected to higher taxi insurance rates. There are several options available to you without having to pay extraordinary rates.

This type of insurance will not cover the operation of said vehicles during time off work hours such as an employee using a work vehicle for personal use.

After-hours taxi insurance will only cover such aspects such as fire, theft, vandalism and other unforeseen circumstances outside of operations. If you are in a position where you need to insure a fleet of multiple taxis,

be sure to discuss your options with your local insurance lender. You will want to be sure you are making the best informed decision when it comes time to insure your taxi fleet.