About Business Insurance For Taxi Drivers
Picking customers up and taking them to their destination is all part of your service and that is why customers rely on you. However, providing a service such as this could put you at risk of a claim being made against you. If you act negligently or offer incorrect advice that could cause injury or financial loss for your client then they would have the right to submit a claim. This claim would mean that they are looking to recover their losses or even receive compensation from you. Mistakes can happen so ensuring that you have the right insurance in place is crucial.
Business Insurance Designed For Taxi Drivers
While you may never have had a claim made against you in the past there is the potential for claims to be made in the future and this is why you should have business insurance. It is designed to fit your needs which means that it protects your business. Claims made against you can be linked to incorrect advice, negligence or even poor workmanship. Clients may experience financial loss or injury and this would give them the right to make a claim. There are many costs associated with a claim and they can quickly add up so making sure that you have business insurance in place is vital.
How Does It Work?
You may be an experienced taxi driver but it is still possible for you to make mistakes. This highlights the importance of business insurance why you should have it in place.
Professional indemnity insurance is designed to protect you against claims made against you that are associated with negligence or incorrect advice. You may decide to take an incorrect route that could get your lost which means that your client misses an important meeting that results in them losing money or you could even offer to load their luggage into your taxi but leave it behind after being distracted. If any of these errors occur as well as others then your client will look to recover any losses through a claim. This could be costs relating to lost items or finances but either way you need to ensure that you gave professional indemnity insurance in place as it will protect you from these claims.
Public liability insurance can protect you from any damage you may cause to the property of a customer or if you injure them. A decision you make while driving your taxi could result in injury to your customer especially if you are speeding. You may also damage their property while dropping them off at their destination as you could reverse and knock down a wall. If this happened then your customer would have the right to make a claim. This is where public liability insurance can protect you as settlement costs and defence costs can become expensive.
Business insurance has the following features:
- All claims are covered regardless of their size or the outcome
- All claims are evaluated before payment is released
- Your business is fully protected
- All costs associated with defending a claim and compensation are covered
- Your business needs are taken into consideration before cover is chosen
- Costs associated with court appearances are included
- Regardless of your budget there is insurance available
What Are the Benefits?
You will receive the following benefits:
- Be fully compliant with regulations and legal expectations
- Spend more time focussing on your business needs
- Financial protection
- Advice and representation is available to you
- Have confidence in your choices and decisions