Why You Should Consider Purchasing Taxi Insurance
If you have a taxi business, it is vital that you properly protect yourself and your business. There are many things that can potentially go wrong. You want to make sure your vehicle is protected from potential damage and theft. Additionally, you need to protect not only yourself but also your customers. This is where taxi business insurance coverage comes in. The types of insurance you will need to purchase depending on the specific needs of your business.
For example, if your taxi business employs multiple drivers, you need to extend your standard taxi insurance into a policy that can cover multiple drivers. That way, each driver has adequate insurance coverage.
Employment Practices Liability
Another type of insurance to consider for a company with multiple drivers is employment practices liability insurance. This type of coverage provides protection against claims of sexual harassment, wrongful termination, or discrimination.
Finally, a good taxi insurance plan should always include a business interruption policy. This type of insurance makes sure you don’t miss out on income if your taxicab breaks down.
Running a taxi business can be lucrative, but it is not without risk. Make sure you are protected in even the worst-case scenario by purchasing taxi business insurance coverage today.