Why No Taxi Owner Can Afford To Be Without Insurance Cover
If you own a taxi then you no doubt already know that you'll need to have the
correct type of insurance in place in order for you to drive the vehicle legally on any public road within the UK. Over and above the fact that it's a legal requirement, having proper insurance can save you thousands of pounds, should you ever be unfortunate enough to be involved in a collision.The same applies to having your vehicle stolen, in that without the proper insurance you would have no option but to purchase a new vehicle at your own expense. While every motor vehicle owner likes to believe that their vehicle will never be stolen, evidence suggests otherwise.
In fact, hundreds of thousands of vehicles go missing in the UK every year. This is the exactly why insurance companies place to so much emphasis on owners taking certain precautions in order to minimise the chance of their vehicles being stolen. One of those black taxi cabs which you see in many parts of the country, and which are relatively famous the world over, can nowadays set you back more than 20,000 pounds for a new one, so it's easy to see why insurance companies don't want the vehicle owners to take any unnecessary chances. Ensuring your taxi has been fitted with all the latest theft deterrent devices is perhaps one of the best ways to obtain affordable taxi insurance.
Having proper insurance cover also means that as a taxi owner you can have complete peace of mind in knowing that your passengers are fully covered should any of them get injured in an accident. With the way things are nowadays, you can be rest assured that any person who is injured while being transported in your taxi will undoubtedly try to claim as much compensation as possible. Because insurance companies are so accustomed to this sort of behaviour, they know exactly how to deal with such claims efficiently and effectively.
Apart from injury to you or your passengers, being involved in a collision usually also means that your vehicle will be out of service at least for a certain amount of time. Providing you have adequate taxi insurance you'll be supplied with a courtesy car. You'll also be able to claim for loss of earnings if you've been unable to continue operating your business during the time it takes for your taxi to be repaired.
Just as with regular car insurance, you can purchase different levels of cover, but of course the type of cover you choose will depend on your personal requirements. One thing to bear in mind is that taxis are frequently vandalised, particularly on the weekends when thousands of youngsters start making their way home from the nightclubs.
Many taxis have also been severely damaged by uncontrollable football fans. While such damage may not prevent you from going about your business in the usual way, it can leave you with expensive repairs bills.
There are a number of things you can do in order to keep the cost of insurance down. For example, you need to make sure your taxi is not an easy target for thieves. You also need to maintain a clean driving record, and you should always think twice before you decide to submit a claim for one or other trivial reason. You could always have the excess amount raised. Bear in mind however that if you do this, you will pay less for your insurance, but if you ever submit a claim, the amount you'll be expected to pay upfront could end up being significantly more.
Finally, don't just settle on the first offer you receive. Go online instead, and then apply for several quotes from a number of taxi insurance providers.
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