Taxi Insurance

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Taxi Insurance

Available in all 50 states!

Earning a fare is hard work. Keep your business in the fast lane with taxi insurance from Bankers. We understand the challenges of running a successful taxi service. Let us help you get down the road with minimal hassle. Since we are an independent insurance agency, we represent many taxi insurance companies. We deliver quality coverage that fits your budget. In addition, we provide our clients many business tools and resources to help them run smoothly, lessen risk, and drive success.

Insurance for Taxis – Call us at (888) 436-4584!

We can insure

All operations transporting the public for hire, including:

  • Taxis
  • Owner-operators or entire fleets
  • For-Hire transportation of passengers in any form
  • Demand-response units
  • New ventures.  A description of prior pertinent background experience is needed.
  • Companies, LLCs, Individuals, and Partnerships.
  • Double shifts
  • Limousines
  • Black car
  • Executive transport
  • Shuttle, school, and ancillary operations acceptable
  • Partial Uber, Lyft exposure acceptable

We Offer

  • Many taxi insurance companies with tailored insurance packages
  • Personal service.  Each of our taxi insurance clients is assigned a personal agent, given their email address and a phone number that rings right on their desk.
  • Certificates of insurance and auto ID cards the same day your policy is issued.
  • Business Auto
  • General Liability
  • Umbrella Liability – up to any limit
  • Abuse and Molestation
  • Garage operations
  • AM Best “A” rated carriers where needed
  • Workers Compensation
  • Property, buildings, contents, equipment
  • Group health insurance
  • Group life insurance
  • All other

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At Bankers Insurance, the client is always in control.

Taxi Insurance

Taxi companies perform a vital service to our communities. And keeping a successful business on the road is no small task. Challenges such as hiring quality drivers, driver training, dispatching, and vehicle maintenance all demand your time. Taxi insurance is one of your largest expenses. We provide insurance solutions that meet your budget.

Bankers Insurance wants your taxi business to succeed.  We will quote your coverage with several companies and present you with the best options, tailored to your needs.  In addition to taxi insurance, we can speed you on your way with valuable business tools and resources to help screen drivers, establish a training program, institute a written safety program, publish an employee manual, and many others.  Stay in the fast lane.  Let Bankers be your trusted insurance agent.

Taxi Insurance Quote

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Taxi Insurance


Business Auto

taxi insurance business auto

Business auto coverage is one of your largest expenses. Manage your taxi insurance costs while ensuring you have the protection you need.

How much is enough?

Medical Payments and/or Personal Injury Protection are valuable coverages. They provide no-fault protection to help keep your claims out of court.

State Filings

Your state will most likely require your taxi insurance company to provide them with proof of coverage and/or notice should your coverage lapse. These notices are termed “filings”. Let your insurance agent know any specific filings your department of transportation is requiring. Specifically, find out if Form E or Form F filings are required.

Coverages

Review your taxi insurance package to ensure it protects against all unwanted exposures.

  • Auto Liability:  We suggest carrying at least a $1,000,000 combined single limit (CSL), though lower limits are available. Your state minimum requirements may be less, but ensure you have sufficient coverage to protect your business assets. Remember, each driver you send on the road can cause enormous liability with a single accident.
  • Physical Damage:  Coverage for owned vehicles such as
    • Taxis
    • Vans
    • Shuttles
  • Uninsured and/or Underinsured Motorists:  We recommend these coverages up to your full policy limits. These coverages protect your business from claims should an at-fault driver with too little insurance injure one of your passengers or damage your vehicle.
  • Non-owned Vehicle Liability:  This inexpensive coverage provides broad protection. Many times it is required by dispatchers or by transport contracts. It covers business exposures such as employees driving their own vehicles on business use, like supply runs or simply taking the mail to the post office.
  • Hired Vehicle Liability
    • Rented taxis or vans
  • Lease / Loan gap
  • Rental reimbursement
  • Blanket additional insured
  • Towing and labor

 


Liability

taxi insurance liability

Liability associated with operating a taxi company isn’t limited to operating the automobiles. To cover these exposures, our taxi insurance packages can include:

  • General Liability:  A foundational coverage, general liability should be part of any taxi insurance solution. It is inexpensive and protects the business against a broad array of non-auto risks associated with bodily injury, property damage, personal injury, advertising injury, slander, and even various liabilities associated with occupying an office. Examples of exposures in this area are having a driver help a passenger into the vehicle, out of the vehicle, or simply loading and unloading luggage. Similar to business auto insurance, we suggest at least a $1,000,000 limit.
  • Umbrella Liability:  This coverage can go overtop your general liability, business auto, and even workers compensation to increase the policy limits to to any level needed or required by contract.
  • Abuse and Molestation coverage: This is an advisable protection for any business involved with transporting the public. Sometimes required by contract or dispatchers.
  • Cyber liability:  Every business stores sensitive information on employees, clients, vendors, and suppliers – electronically or on paper.  Cyber liability insurance protects against this information being stolen or accidentally leaked.
  • Employment Practices Liability Insurance: wrongfully terminating a driver, harassment (including 3rd party), refusal to hire, discrimination, etc.
  • Garage liability: Should you perform maintenance services for other companies.
  • Dispatchers as additional insured
  • Medical payments
  • Employee Benefits Liability
  • Directors and Officers Liability

 


Workers Compensation

taxi insurance workers compensation

Workers compensation is one of the most important taxi insurance coverages available. It protects your drivers and employees if they are injured while on the job by providing compensation for their healthcare bills and lost wages. It is a legal requirement in all states and the need for it is triggered when you hire employees, including certain kinds of subcontract drivers. Reference our article regarding hiring subcontract drivers.

Bankers Insurance can provide:

  • Guaranteed cost workers compensation policies
  • Self-insured plans
  • Retrospective rating plans (retro plans)
  • High deductible programs
  • Risk-retention groups
  • Captives
  • Experience modification reviews


Property

Taxi Insurance Property

Property coverage can be a portion of your taxi insurance solution. The needs for taxi services mainly center around the office and/or garage. Building insurance is available if your business owns the building or if required by lease.  Business Personal Property (contents) is a consideration for furniture and fixtures such as dispatch systems, specialized computer equipment, video, and GPS systems.  Have a plan to backup your records off-site and know how to restore them should the need arise.

Property coverage can include:

  • Buildings, outbuildings, and garages
  • Contents, furniture, dispatch systems, computers and computer systems
  • Theft, including theft of money and securities
  • Business Income and Extra Expense Insurance:  If your main office were to suffer loss, would it affect your income? This coverage protects against lost income due to such an event. It also protects against resulting expenses that fall outside normal operations. For example, if damage occurs to your office building or garage, temporary space may be needed while the building is repaired. This rental expense would be covered by the extra expense portion of this coverage.
  • Employee dishonesty
  • Ordinance or Law – increased cost of construction
  • Flood and Earthquake

Other Coverages and Options

taxi insurance liability

These optional coverages put our taxi insurance program ahead of the rest.

  • Management liability packages
    • Directors and Officers Liability
    • Employment Practices Liability Insurance
    • Employee Benefits Liability
  • Abuse and molestation
  • Employee Dishonesty
  • Cyber Liability / Data Breach
  • Group Health Insurance
  • Group Life Insurance
  • Group Disability Insurance
  • Group Long Term Care Insurance

Additional Services for Taxi Companies

Taxi companies face many challenges: recruiting drivers, training, and maintaining vehicles are just a few. How can Bankers Insurance help you succeed?  Our service doesn’t stop with an insurance policy. We provide your business many value-added services so you can keep your eyes on the road.

Services may vary depending upon taxi insurance carrier:

  • Documented safety manuals and procedures
  • Employee manuals tailored to your business’s needs
  • Complete risk surveys and liability reviews
  • Building Valuation
  • Best practices assessment / gap analysis
  • Contractual liability consultation
  • Workers compensation experience modification analysis
  • Workers compensation cost containment strategies
  • Exposure reduction consultations
  • Regulatory guidance

Further Resources

Bankers Insurance offers many resources to our taxi insurance clients. Below is a sample of our offerings. Ask your insurance agent what is available to you.

Why Bankers Insurance?

Anyone can be an order-taker.  Bankers Insurance is different.

We offer choices and expertise.  We don’t expect clients to be taxi insurance experts.  Take advantage of our experience.  We can explain your options and help you determine the right coverages.

As your insurance agent, we strive to know you.   Only then can suggest the coverage that suits your specific business.  We look for coverage gaps to help ensure complete protection.  With us, you get the benefit of: