As a Taxi owner or operator in South Africa, you know all about the dangers of driving on our busy roads. If anything happens to your taxi, do you have adequate Taxi Insurance cover to make sure your business doesn’t suffer? Insurance is a must, but Taxi Insurance is definitely worth considering!
Taxis are an important means of transport and play a huge part in the South African economy. Taxis cover many kilometres each year and transport around 14 million people per day – they are by far the most popular method of transport in most urban areas. Given how many taxis are on roads, inevitably, there are accidents as well, where the Automobile Association (AA) of South Africa found that there are around 70,000 minibus taxi accidents each year – clearly a big consideration if you want to own or drive a taxi!
Apart from traditional minibus Taxi Service Insurance, some insurers may also include policy cover and extensions for Minibus, Midibus, Uber, Metered Taxi (or Cab), Tuk-tuks, Shuttle services and Chauffer Services. Remember, if you offer passengers a ride (or transport) in exchange for payment (or a fee), then you are operating your vehicle as a taxi or cab, which is considered as 'business usage'. Whether you are a Taxi owner, Taxi Operator and/or Taxi Drivers, you need to protect your investment and livelihood.
DIB Solutions (Pty) Ltd have partnered with reputable underwriters and various insurance companies in order to assist our clients with appropriate Insurance cover – we can therefore also assist clients with tailor-made products (where applicable) at competitive premiums. We provide a professional and personal service, as well as build long-term relationships with our clients. Whether you are a Taxi owner, Operator or Driver, we can accommodate you at competitive premiums.
- Taxi Insurance is specifically designed to meet the needs of taxi owners, operators and drivers. That means that you can expect to get coverage for things that aren’t covered under more traditional car or vehicle insurance.
- Generally, taxis average high daily mileage and long working hours in traffic. This fact, combined with the liabilities attached to it, makes Taxi Insurance considerably more expensive than normal vehicle insurance.
- You would have the option to choose from basic to comprehensive taxi cover, eg: For own damage, fire, theft, hijacking, as well as liability for damage to third-party property and personal accident cover.
- Passenger Liability Insurance is a big consideration when operating taxis.
- Some insurers have discounts for adding more vehicles to your policy, which is handy if you are considering building a fleet of taxis.
- Personal accident coverage for both driver and passengers is also available;
- Taxi operators should protect their taxis – especially if it is still under finance arrangements;
- Many Taxi Insurance policies also offer compensation to the driver – if a taxi cannot be driven for a certain amount of time, due to an accident (thus, to cover possible lost earnings);
- Finally, many specific Taxi Insurance plans also cover trailers and/or loss of or damage done to luggage.