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Taxi/Cab
A taxicab, often known as a taxi or a cab, is a type of vehicle for hire with a driver, hired by a single passenger or small group of people, frequently for a non-shared ride. A taxicab carries people between destinations of their choice. This varies from public transport where the pick-up and drop-off sites are set by the service provider, not by the consumers, but demand responsive transport and shared taxis give a hybrid bus/taxi method. Taxi/Cab insurance is a commercial vehicle insurance policy that protects taxis used to carry paying passengers against accidents, third-party liabilities, passenger injuries, theft, and damage.
What is Included in Taxi/Cab Insurance?
Third-Party Liability Protection
Covers legal obligations in the event that a third party is harmed, killed, or has property damaged by the cab. It shields the owner or driver from significant out-of-pocket costs brought on by lawsuits or claims.
Passenger Injury Coverage
Many policies cover injuries caused by passengers while traveling in the taxi.
Some policies additionally cover accidental death or permanent impairment of passengers.
Damage to Own Vehicle
Covers replacement or repairs in the event that the cab is damaged by theft, fire, natural catastrophes, or accidents.Essential for sustaining ongoing service and protecting corporate assets.
Financial Security
Reduces financial pressure after accidents, damages, or unforeseen events.
Helps guarantee the taxi business continues to function efficiently without huge unforeseen charges.
Compliance with Legal Requirements
Many countries/states require taxis to have commercial vehicle insurance. Avoids penalties, fines, or suspension of license.
Coverage for Natural Disasters and Theft
Policies often cover damage from floods, storms, earthquakes, or vandalism. Also protects against theft or attempted theft.
What is Included in Taxi/Cab Insurance?
1. Third-Party Liability Coverage (Mandatory)
- Covers legal liability if your taxi causes : Injury or death to a third party, Damage to third-party property.
- Essential for meeting commercial vehicle legal requirements.
2. Passenger Liability Cover
- Protects against claims from passengers injured during a ride.
- Covers medical expenses, disability, or accidental death benefits.
3. Own-Damage (OD) Cover
- Pays for repairs or replacement of your taxi due to: Road accidents, Fire or explosion, Theft, Vandalism, Natural disasters (flood, earthquake, storm, cyclone, etc.)
4. Personal Accident Cover for Driver
- Compensation for the driver (owner or hired driver) in case of : Accidental death, Permanent disability, Partial disability.
5. Coverage for Named/Hired Drivers
- Protects employed drivers who operate your taxi.
- Ensures coverage even if a substitute driver is used.
6. Legal/Medical Expenses
- Some policies include or allow add-ons for legal fees or medical treatment following an accident.
What is not Included in Taxi/Cab Insurance?
1. Wear and Tear / Depreciation
- Regular aging of parts, normal wear and tear, or mechanical breakdowns not caused by an accident.
2. Driver Without Valid Licence
- Claims are rejected if the driver : Has no valid driving licence, Has an expired licence, Is driving a class of vehicle they’re not licensed.
3. Driving Under Influence
- No coverage if the driver is under the influence of : Alcohol, Drugs, Any intoxicating substances
4. Using the Taxi for an Unapproved Purpose
- No coverage if the taxi is used for : Personal/private use (if policy specifically covers only commercial use), Racing or speed testing, Illegal activities or unlawful passenger transport.
5. Consequential Damage
- Damage that happens after the initial accident and is not directly caused by it. Example: Driving the taxi after an accident and causing engine damage.
6. Electrical / Mechanical Failures
- Internal failures like engine seizure or gearbox failure unless caused by a covered event.
- Covered only if you have engine protection add-on.
How to get a claim for Taxi/Cab Insurance?
- Inform the insurer immediately after the accident/theft.
- File a police FIR (required for theft, third-party injury, or major accidents).
- Wait for the surveyor to inspect the vehicle — don’t repair it beforehand.
- Submit required documents — policy copy, DL, RC, taxi permit/fitness, FIR (if any), claim form.
- Repair the taxi at a network garage (cashless) or any garage (reimbursement).
- Claim settlement is done after document and survey approval.
How to get Taxi/Cab Insurance Online?
- Visit an insurer or comparison site (e.g., PolicyBazaar, Digit, Reliance, Coverfox).
- Enter taxi details — registration number, model, year, RTO.
- Choose coverage — third-party or comprehensive + add-ons.
- Upload required documents — RC, ID proof, permit, previous policy.
- Pay the premium online — UPI, card, net banking.
- Download your policy instantly from email/SMS.
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