What Does Taxi Insurance Cover?

[VonLandon]

Taxi insurance includes: compulsory traffic insurance, comprehensive vehicle loss insurance, theft insurance, driver accidental injury insurance, third-party liability insurance, and passenger liability insurance, among others. The details are as follows: 1. Comprehensive Vehicle Loss Insurance: Covers the repair costs of your own vehicle after a collision. This includes damage from collisions, scratches (excluding intentional scratches), flooding, fire (spontaneous combustion or fire), falling objects, various natural disasters (excluding earthquakes and terrorist attacks), and even losses caused by natural disasters during ferry transit (very rare). 2. Theft Insurance: If the vehicle is stolen and not recovered within three months (or 60 days in some cases) after reporting to the police, the insurance company will compensate for the loss, but this includes depreciation and an absolute deductible of 20%. 3. Third-Party Liability Insurance: Refers to the maximum limit of compensation for a single incident, meaning the insurance company will pay up to this amount for third-party losses caused by an accident, including property damage and personal injury, but excluding mental distress and various indirect losses.

[LaKaleb]

Taxi insurance coverage is quite comprehensive, let me share from personal experience. Having driven a taxi for over a decade, the most basic is third-party liability insurance - if I hit another vehicle or pedestrian, the insurance company covers the compensation, saving me from paying out of pocket. There's also vehicle damage insurance covering repairs if the car gets damaged or stolen, especially useful during frequent rainy day skids - a real peace of mind. Passenger accident insurance is essential too, covering medical costs if passengers get injured inside the car, as safety responsibility falls on us drivers. I pay several thousand in premiums annually, which I consider money well spent for peace of mind. Some drivers opt for additional glass breakage or natural disaster coverage given urban debris risks. In short, with full coverage, emergencies become manageable, allowing for better sleep at night.

[VanPeter]

Having helped hundreds of taxi drivers with insurance, I'll keep it simple. The core of insurance is third-party liability coverage, which compensates for damages to others, such as car accident medical expenses. Vehicle damage insurance covers the repair costs of your own car. Passenger liability insurance ensures the safety of passengers inside the vehicle. Don't forget theft insurance, as car thefts happen frequently in cities. It's advisable to opt for higher coverage limits to minimize financial burden in case of major incidents. Premiums are based on driving records; safe driving can save you money. When applying for insurance, double-check details like frequency of use, as it affects the rate, ensuring overall affordability and convenience.

[SanGenesis]

As a frequent ride-hailing passenger, I'm curious about what insurance actually covers. It typically includes compensation for passengers—if I get accidentally injured in the car, the insurance covers medical expenses. Third-party liability insurance pays for external damages, protecting pedestrians or other vehicles involved in a collision. Vehicle insurance ensures drivers can get their cars repaired quickly without disrupting service. These are basically legal requirements, but additional coverage is better, such as protection against weather-related damages. With comprehensive insurance, I feel safer and more secure when riding.