Commercial Taxi Insurance Policy
Buy/Renew Commercial Taxi/Uber, Ola Cabs Insurance Policy Online
A commercial taxi insurance plan provides financial aid to the insured when the taxi undergoes damages and requires repair due to covered events. A commercial taxi insurance plan is an important element of the stable financial portfolio of any taxi owner. It can help you bear the cost of repairs and ensure that you do not receive any sudden financial jolt when your taxi is damaged.
When you own a taxi that is used for commercial purposes, there may be situations where the taxi gets involved in an accident or incurs damages due to one unpredictable event or other. These damages cause a lot in terms of repair and may put a dent in your business revenues if the damage is too severe. Therefore, a well-structured commercial taxi insurance plan can be a great financial aid for a taxi owner.
There are primarily two types of commercial taxi insurance: third-party taxi insurance and a comprehensive taxi insurance policy.
As per the Motor Vehicles Act of 1988, it is legally mandatory for every vehicle to have third-party insurance coverage to be eligible to be driven on Indian roads. Third-party taxi insurance covers the insured in situations where they are liable to a third party during an accident. With the third-party taxi insurance policy, you can purchase the personal accident cover add-on.
A comprehensive taxi insurance policy offers the insured coverage against a variety of unpredictable events such as natural calamities, theft, fire, burglary, riots, and so on. A comprehensive taxi insurance plan also provides coverage against third-party liabilities. Add-ons such as NCB Protector, zero depreciation add-on, and so on can also be opted for with a comprehensive taxi insurance policy.
Buying commercial taxi insurance online is a completely paperless process. You do not have to collect any paperwork in large bunches and submit them. All you will be required to do is upload soft copies of the required documents.
A comprehensive passenger vehicle insurance policy provides coverage against damages caused to a third party in case of an accident.
The best part about buying commercial taxi insurance online is that it can be done anywhere as long as you have a device and a stable internet connection, whether you are in your office, home, or a vacation hotel.
Here are some reasons why you should choose IFFCO-Tokio for the best experience with your commercial taxi insurance plan.
4000+ network garages
You can access the best quality repairs for your taxi at any of our 4000+ network garages without worrying about paying for the expenses.
High claim settlement ratio
Our claim settlement ratio is 92.65%. We have a 24/7 claim assistance service that is dedicated to helping clear the doubts and answer queries raised by our policyholders.
20+ years of insurance experience
IFFCO-Tokio has been a part of the Indian insurance industry for the last 20 years. With this experience, we have come across diverse issues related to claims and insurance in general which has prepared us for any challenge.
4-hours claim settlement process
We have eased the process of raising a claim and settling it. Minor claims raise through our app can take around 4 hours to get settled.
Available at each and every corner of the country
IFFCO-Tokio has 20,000+ agents and branches spread throughout the country which enables us to provide prompt and reliable assistance to you.
The Motor Vehicles Act of 1988 mandates the purchase of basic third-party insurance coverage if any vehicle is to be driven on Indian roads.
With a comprehensive commercial taxi insurance plan, you can rest assured that your finances will stay largely untouched when your taxi incurs damages due to accidents or calamities.
If you have hired a driver to run your taxi, then any bodily injury or harm caused to them due to events included under the plan is also covered.
If you are buying a comprehensive taxi insurance policy, you can take your financial protection a notch higher by opting from a host of add-ons such as NCB cover and roadside assistance.
Get your taxi repaired and services at any of our network garages and the charges will be covered by us.
Maintaining a business is not an easy task. Whether you are driving the taxi yourself or have hired someone else to drive it, having a commercial taxi insurance plan can help you have a stronger peace of mind.
Our commercial taxi insurance plan has the following exclusions:
If the insured is driving under the influence of alcohol, drugs, and other intoxicating drinks and gets involved in an accident during such a situation, then the claim raised by them will not be considered.
If the accident occurs outside the geographical area covered by the commercial insurance cover for the vehicle, then the claim raised by the insured will not be taken into consideration.
Any issues occurring with the commercial taxi due to a mechanical or electrical breakdown will not be covered by the commercial taxi insurance plan.
If the insured vehicle has been used for any unlawful or unethical reason, then it will not be covered by the comprehensive taxi insurance policy.
If the vehicle undergoes damages due to war or warlike activities, military activity, or nuclear and radioactive elements, then such damages will not be covered by the commercial taxi insurance plan.
Damages incurred by the taxi which are not a direct result of the accident are not covered by the commercial taxi insurance plan. The cost of the damages will have to be covered by you.
If an organization has several taxis being used to transport people from one place to another as a commercial service, then you can buy a commercial taxi insurance plan for all these taxis.
If you own a car and use it to provide commercial transportation services, then you can take the help of a commercial taxi insurance plan to mitigate the losses that could come up due to an unpredictable event.
If you run a small business and have taxis being used to provide commercial services, whether it is transporting goods or employees from one place to another, then you can buy a comprehensive taxi insurance policy to help you deal with unforeseeable events
