Are you a South African taxi driver looking for insurance specifically designed to cover your unique risks and needs? Find out everything you need to know about Insurance for Taxi Drivers here.
What is Taxi Insurance?
Taxi insurance is similar to business insurance and car insurance, but it’s made to cover some of the risks taxis and taxi drivers face every day. Many view it as a form of business cover, because your taxi is more than just a vehicle. It’s your business.
The taxi industry in South Africa is vast, with a wide range of risks to consider, such as theft, fires, and road accidents. Most taxi cover plans provide assistance to taxi operators when there has been an accident. Taxi owners operating on South Africa’s roads can now rest easy knowing their investment is safeguarded from operational risk and common perils.
How Does Taxi Cover Work?
When you purchase taxi cover, your insurer commits to pay out money when an insured event occurs that relates to your taxi. In return, you commit to paying a monthly fee to the insurer called a premium. The details about what is and isn’t covered will be in your policy documents.
Even a comprehensive policy will have exclusions. For example, they may exclude damage you intentionally cause to your own vehicle. There may also be conditions you need to meet in order to be covered. For example, the insuring company may expect you to install a tracking unit in your minibus.
What Does Taxi Insurance Cover?
Whether you drive a minibus, midi bus, or sedan vehicle used as a metered taxi, shuttle service, or for e-Hailing services like Bolt and Uber, you can cover your vehicle and business with a taxi cover policy. The simplest plans out there offer cover for third-party liability, such as accidental damage to someone else’s car. As a taxi driver, you will often need much more than just third-party liability cover.
More comprehensive cover options cover accidental damage, fire, theft, hi-jacking, hail, and storm. They can also include passenger liability cover, which pays out if a passenger who has experienced loss or damages involving your taxi, claims against you. Some minibus insurance plans pay out for a number of days to cover your immediate expenses while your taxi is in for repairs.
The cover you get depends on the assurance company you choose. If you want cheap insurance coverage, you can choose a policy that covers less but costs less. A person driving minibus taxis daily during peak time understands it is a high-risk job. Instead of hoping the worst never happens, it’s smart to find insurance solutions that can give you peace of mind.
Can Taxi Insurance Cover Food Delivery?
There are options for taxi drivers in South Africa that will cover your vehicle and driver for a food delivery service. Not all taxi policies allow for it. It all depends on the company providing the cover.
If you are not happy with any of the taxi cover options available, you can also look into business cover for small businesses. It may not cover all the same risks, but it will be useful for taxi drivers. You also have the option of buying separate policies for the various risks you face. For example, you can get public liability insurance, personal accident cover, passenger liability cover, and vehicle cover separately.
Who Does Taxi Policies?
Many South African insurers don’t offer cover exclusively for taxis but rather for small businesses in general. OUTsurance business is an option to consider if you want this type of cover. Other insurers offer niche cover specifically designed for taxi drivers, such as Santam and Hollard.
Where to Get Taxi Cover?
You don’t need to go hunting for the right insurer. You can just fill in the form at the top of this page, and an insurer matched to your needs will be in touch with you. We save you time and make it easy to compare cover options, with all the effort coming from the insurer’s side.
DISCLAIMER: The information provided in this article is meant for informational purposes only and should not be construed as legal, medical, or financial advice. Facts stated in this article are correct at the time it was published.