Taxi Cab Insurance in Utah
Taxi Cab Insurance can help address risks faced by taxi companies, owner-operators, and cab fleets. Depending on the situation, important exposures may include frequent urban driving, passenger injuries, high annual mileage, multiple drivers, and commercial vehicle accidents.
Insurance options can vary considerably between companies. Direct Insurance Servicescan help clients in Utah compare available policies and review important differences in coverage, limits, deductibles, eligibility, and exclusions.
Why Is Taxi Cab Insurance Important?
Taxi cabs can accumulate substantial mileage while operating in congested areas and repeatedly picking up and dropping off passengers. Those exposures make taxi insurance a specialized form of commercial auto coverage.
The goal is not simply to purchase a policy with the lowest premium. It is to understand the exposures involved and select insurance that fits the individual, property, vehicle, or business as closely as possible.
Taxi Cab Insurance Coverage Options
The appropriate coverage depends on the specific situation. Options may include some of the following protections.
Taxi Liability Insurance
Commercial taxi liability may help with covered bodily injury and property damage claims arising from operation of an insured cab.
Physical Damage Coverage
Collision and comprehensive coverage may help protect the taxi itself after covered losses.
Passenger Injury Exposure
Appropriate liability and no-fault or medical coverages depend on state law, vehicle capacity, and the insurance program.
Uninsured and Underinsured Motorist Coverage
Depending on state law and policy options, this coverage may help protect occupants after certain accidents involving inadequately insured motorists.
Fleet Coverage
Taxi businesses with multiple vehicles may be able to insure qualifying cabs under a coordinated commercial fleet program.
Taxi Cab Insurance FAQs
Why do taxis need commercial auto insurance?
Taxis transport passengers for compensation, an exposure generally excluded from personal auto insurance. Specialized commercial taxi coverage is designed for that use.
How much liability insurance does a taxi need?
Requirements vary by state, city, licensing authority, vehicle capacity, and contracts. Local minimums may differ from ordinary commercial auto limits.
Can taxi insurance cover multiple drivers using the same cab?
It can, provided the policy is written appropriately and eligible drivers are disclosed according to insurer requirements.
Does taxi insurance cover collision damage to the cab?
Physical damage coverage may be purchased for eligible vehicles, subject to deductibles, valuation, vehicle age, and insurer underwriting.