Instant Taxi Insurance
When buying instant taxi insurance online, it is important to remember that certain coverages are standard or required, presenting a “bare minimum” of coverage, while higher limits and other coverages are extra.
Anything beyond the mandatory coverage is an option. The standard coverage is the one mandated by law under the Road Traffic Act. The Road Traffic Act requires that all taxi drivers carry third party liability insurance. This standard insurance coverage will pay for the repair that you do to another car if in an accident while driving your taxi. It will also cover injuries to the other driver, his or her passengers, and any passengers in your taxi. Under this category, there are really two types of third party liability insurance; Road Traffic Act insurance covers only the minimum amount of coverage required under the law, where a broader third party only instant taxi insurance coverage will cover an amount greater than the minimum required by the law.
From here, there are additional options to choose from. One set of options is for auto theft and vehicle fire coverage. The auto theft option is self-explanatory, and provides insurance against the theft of your taxi. A vehicle fire option will provide insurance protection in the event the taxi catches fire from the intentional or accidental acts of another (such as vandalism), as well as a fire that starts mechanically (such as a fuel line leak settling the taxi on fire).
If you continue to add on, then the appropriately named comprehensive insurance is an extensive insurance option that will cover, in addition to third party liability, fire and theft, any damage caused by the taxi driver to his or her own vehicle. So for example, if a taxi driver were to make an illegal turn and hit another car, the third party liability insurance would pay for the damage to the other car, but not for the damage to the taxi; comprehensive insurance would offer such protection.
Lastly, there are a number of miscellaneous options, such as bundled policies (more than one type of coverage is combined, such as private and public taxis under one policy), payment options, and multiple drivers.
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