Get Taxi Insurance for Your Whole Company - Here's why

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Taxi insurance is not only designed for the sole trader, but it is the ideal choice for the larger cab companies that have a number of vehicles on the road at any given time.

One of the most important aspects of your business are your vehicles, if one of them is involved in an accident it will not only cost you money that will mean that there is one vehicle not making you any money at all.

As you know the legal requirement to drive on the UK roads is a minimum of third party cover, but as a business person you also know this level of cover is not enough should one of your vehicles be involved in an accident.

When you apply for this level of cover you will be given three choices; third party, third party, fire and theft and comprehensive.  The third party options only cover any third party vehicle for property involved in an accident caused by your driver, you will not cover your cab.

So it is easy to see a comprehensive cover is the most logical and practical choice, protecting both your own vehicles and any third party property more vehicles.

The benefit of this level of cover is that you can add all your cabs under one policy, this makes it more affordable, practical and convenient.  You only have one policy number to remember, when phone number to phone and one claims process to go through.

You also want the peace of mind that your driver’s are protected at all times.  In the event of an accident and should your driver be seriously injured you can a claim against you, which is why you need have adequate cover in place.

When selecting drivers for your business is important to ensure that they are over the age of twenty five, they have clean driving licences and a noclaims bonus, bonus on their private policy.  These three things prove to the broker that your drivers are not a risk.

Of course incomes your biggest risk, transporting passengers.  For this you need a good level of public liability cover.  If one of your cabs are involved in an accident while transporting a passenger this can end up with a large claim against you.  A public liability claim against you is a claim you legally responsible for and they can amount of thousands, leaving your business in serious financial difficulty.

So whether you have one cab were a number of cabs, taxi insurance offers you the full level of protection, convenience and money saving ability that your business needs.

What You Can Include In Your Cheap Traders Insurance Policy

Having a cheap traders insurance policy doesn’t mean that you need to leave certain criteria off in order to save money. A good policy will offer your business all the protection you need at an affordable price.

The quote you choose may not be the cheapest; the aim is to find the best coverage at the lowest price. There are certain things you cannot leave out of the policy and a couple of added extras you can include to give you peace of mind on a daily basis.

Every policy for your industry should protect the building, the building is essential to the day to day running of the business. This should be protected against fire, storm damage and theft. At least if you happen to be up north and your building is effected by the horrific flooding, you can get it repaired as quickly as possible without the expense.

You cannot operate a business without adequate liability cover. Public liability cover is an essential part of your business if you welcome customers and visitors through your doors on a daily basis. A customer falling in your property can set you back thousands, a claim can be for mental distress and loss of income and you will be held legally responsible to pay the claim. In severe cases your assets can be seized in order to pay, having this cover can save a lot of frustration and heart ache.

Employer’s liability is a legal requirement in the UK from the minute you hire your first employee. This cover protects both you and the staff member in the event of an accident and your business already is a risky place to work with complicated machinery.

From here you can add your own personal vehicles to the policy; this can save you money by cancelling your private auto cover at home. You can include your spouse on the policy too, giving you one payment to worry about.

There is road risks and demonstration cover that can be included depending on the type of business you run. Road risks enables you and staff members you choose to drive customer vehicles, while demonstration cover enables customers to try before they buy.

You can add loss of income as an additional cover; this is a handy cover to have. Should your building be damaged and you are unable to work while repairs are being carried out, you can enjoy the fact that you are not losing profits and are still able to stay up to date with bills and staff wages until you can get working again.

The last essential cover you can add to your cheap traders insurance is a policy that covers you should you lose your driving license. You can enjoy receiving a travel allowance that you can use to get you to and from work or hire an additional driver to ensure your business doesn’t suffer.