Taxi Drivers Can Protect Business with Taxi Insurance

A new InsuranceAgents.com article discusses the coverage and benefits of taxi insurance policies. End Quote

Unlike standard auto insurance, taxi insurance provides a number of coverage options designed particularly for taxis.

Chicago, IL (1888PressRelease) October 21, 2009 - Taxis are a main source of transportation, typically in the bigger cities, like Chicago or New York City. In light of this, taxi insurance is a particularly important to taxi drivers who want to financially protect themselves and their business (the taxi). While many drivers may assume that a standard auto insurance policy will do the trick, taxi insurance is the only policy that is designed to protect the taxi company and the driver, according to InsuranceAgents.com.

“Operating in an industry that results in over two million passengers injured each year, taxi insurance provides taxis with the assurance that they will be protected in case an unfortunate incident occurs,” according to the InsuranceAgents.com article, ‘Taxi Insurance: Protection for Your Yellow Vehicle.’

Unlike standard auto insurance, taxi insurance provides a number of coverage options designed particularly for taxis. This includes liability coverage that protects the cab company, the driver, and the company’s assets. It also includes comprehensive coverage against vandalism, theft, fire and other damages caused by an accident.

But to be qualified for a taxi insurance policy, companies and/or drivers have to meet certain requirements:
1. Taxis must function as fare-based while keeping up with maintenance and inspections.
2. Drivers convicted of vehicle manslaughter, possession of a weapon and all drug and alcohol incidents will not be eligible.
3. Drivers under the age of 25 or over the age of 65 will not be eligible.
4. Drivers must have more than two years’ driving experience in the United States and possess a valid driver’s license.

Seeking the right amount of taxi insurance can be somewhat overwhelming, which is why drivers are encouraged to seek the help of an insurance agent. There are numerous risks to a person’s financial safety when driving a taxi, and being adequately covered with taxi insurance will give drivers and companies (and the passengers!) peace of mind.

Visit InsuranceAgents.com for more information, and for insurance quotes from up to five local agents.

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