With the cost of fuel constantly rising, it is only natural that taxi insurance rates have also increased. Taxis transport almost 14 million people a day, and are the most popular mode of public transportation in most developed cities. Given the frequency of vehicle-mounted accidents, of course, there are bound to be accidents involving taxi drivers and customers. Taxi Insurance will be an important consideration if you intend to own or operate a taxi! News on the importance of insurance for your taxi business is what this article is all about.
News over the recent years, the minibus taxi industry has experienced some rapid growth and expansion, in response to the arrival of more youthful passengers, with increasing numbers of people preferring the flexibility and convenience offered by minibus taxis. At the same time, the South Africa transport sector has experienced several significant accidents, mainly caused by inexperienced (or not well trained) taxi drivers. These accidents cause a high number of casualties and severe injuries. This accident rate needs to be addressed to reduce the burden on the budget of the general public. In this news article, we shall briefly look at some of the causes of accidents involving minibus taxis and other public transports.
One of the most common causes of accidents involving public transport is poor driving conditions. All vehicles, commercial and private, require basic road and vehicle safety skills to avoid accidents. Any driver wishing to drive a taxi in South Africa must possess a valid driving license, which will guarantee that the vehicle will be legally operational. Therefore, it is the taxi owners responsibility to have a valid drivers license and a roadworthy taxi.
Another major reason for accidents involving taxi drivers is the lack of insurance. Many South African taxi drivers do not have adequate cover for themselves and their passengers. Insurance brokers in South Africa typically represent several competing companies, and when it comes to paying out on compensation, many taxi owners will choose to save money by under-insuring, to make savings on the premiums. In effect, the policyholder becomes an insurance fraudster! To prevent this from happening to you, you must shop around for insurance companies and discuss your requirements with each one, so that you can get the best deal possible on your taxi insurance.
The third most common reason for accidents involving taxis and public transports is passenger liability. Private passenger liability insurance policies are much harder to obtain than their public counterparts, as they tend to be more expensive. However, there are ways you can protect yourself, your passengers and your taxi owners, should you wish to go down this route. For example, it is possible to keep down the cost of your taxi insurance by installing an immobilizer on your taxi or installing a tracking device on your vehicle.
These three insurance products, namely driver, taxi and passenger liability insurance, are just some of the insurance products available to taxi owners and drivers in South Africa. News about taxi insurance should be more broadly broadcasted to make drivers aware of the importance of having insurance.