• Operating and Taxi Insurance Costs «


  • Operating and Taxi Insurance Costs

  • The costs associated with the running of a taxi can be relatively high and two of the primary expenses relate to insurance and security. Taxi insurance cost is associated with the various aspects of protecting owner and driver from significant financial losses. A Certificate of Insurance is issued by an insurer and proof of this is required by law, with regard to any taxi related operation.

    A crucial aspect of any insurance is provided by having comprehensive cover, which is the most expansive type of vehicle insurance protection. This is an addition to the coverage extended by third party fire and theft insurance. It provides protection against any damages or claims, arising from an accident with another party, irrespective of who is responsible.

    The form of security that the owner provides could influence their taxi insurance costs with regard to a reduction in premiums. This would include secure parking when the vehicle is not being used and added protection in the form of security devices. Usually, insurers only relate premium reductions in this context, to approved car alarms, immobilisers and tracking devices.

    The immobiliser is generally recommended to be of the type that is activated by removing the ignition key and which prevents unauthorised starting of the engine. It is usual these days, for this type of device to be factory fitted during manufacture. However, it is possible and advisable, to have an immobiliser installed by garage or specialist, who would issue a certificate of installation, with precise details of the device.

    A further protection for your vehicle that may be added to your insurance policy is a breakdown facility, which would provide service in the event of a roadside mishap. This would include towing to a garage, if repairs could not be affected, anywhere in the United Kingdom or to your intended destination. Terms and conditions will apply relative to existing circumstances.

    It would be to your benefit obtain the advice of an insurance specialist, regarding the various applicable terms and conditions and make sure you are aware of any excess applicable to your policy!

    Read more at : Operating and Taxi Insurance Costs | Conservator


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