Five Essential Insurance Facts for a Cab Company

There are a multitude of things that cab companies need to think about when running their business. Insurance is one of the biggest concerns for most businesses, and finding the right one, with the best benefits, is essential.

You Need To Get a Dedicated Insurer  

When a company considers what type of insurer they want to go with, they should attempt to go with a dedicated one. Rather than just getting a general insurance firm, a more specialised one will provide a better service. This option will also put a company in line to get a wider range of relevant products, which could include an array of courtesy cars or replacement taxis.

Get As Many Miles As You Want

The nature of a cab company’s business is that they will do a lot of miles in a year. This can be hard to predict, because depending on how good business is will dictate the amount of miles you will do. Therefore, there will be no real way of knowing in advance how many miles will be done. This is why an unlimited mile policy will be best and there won’t be any worry regarding paying excessive extra costs.

Legal Expenses Will Give You Assurance

Should the worst happen, and you have to make a claim, it’s best that your company has all the sufficient legal expenses covered. If one or more of the fleet suffers damage in an accident, it would be devastating to learn that you don’t have the necessary cover. It is crucial to expect the unexpected, so you have cover for any situation. Some legal costs can be astronomical, and they are best to be avoided.

Seek Out the Discounts

With a good deal of searching you can find an insurer that will offer a range of discounts in different forms. For cab companies, it is possible to get discounts for having new taxi drivers, or the fact that your company may be new. The most obvious is if the company has any no claim – lending itself to discount possibilities.

Different Forms of Insurance

There are plenty of different types of insurance that can be beneficial to a cab company. It is always best to check whether your policy or insurer offer these. It is imperative that you get public liability insurance, and with the help of Insure Taxi, there is this option and more. Just remember, be sure to get your whole fleet insured under one policy.

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