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One of the most lucrative and convenient ways of running a successful business on the west coast is opening a taxicab service. Thousands of cabs operate in various parts of Washington, California and other areas of West Coast. However, the risk of accidents and working with insurance companies prevents many from finding success in this industry. If your cab gets in an accident, it is not merely a threat to the passengers’ and drivers’ lives but also a source of damage to your fleet and your business. Choosing the right insurance partner is a must. Should you turn away from a profitable business just because of this risk? Hopefully your answer is no.Selecting a stellar insurance partner for taxi insurance in California, for example, will keep you and your business going strong in the golden state. Taxi insurance in Washington can insure all your hard work and investment from being blown up in a sudden disaster if the Pacific Northwest is home to your business. No matter your location, here a few tips for selecting the right insurance partner for your business: Liability Insurance Liability insurance is mandatory by the law in all states and is of two kinds- 1. Bodily injury
2. Property Damage. - Bodily Injury: This portion of the liability insurance compensates for any kind of physical injury caused to you or your driver during the accident. This payment also includes emergency medical transport, treatment and care at the hospital, prescribed medications, physiotherapies and any other rehabilitation measure helping the injured to recover as soon as possible. Funeral expenses are also covered by this insurance if there is an unfortunate death in the accident.
- Property Damage: This part of the liability insurance covers the cost of repair and replacement of the property damaged in the auto accident. It covers extensive damages caused to your own vehicles as well as other vehicles involved in the collision.
Medical Payments Coverage of medical payments by insurance are crucial in the taxi cab business because there is always a driver and at least one passenger on board while the cab is in operation. Regardless of whose fault it is, this kind of taxi drivers insurance in California covers the medical expenses of the taxi driver as well as the passengers. Physical Damage Insurance This is one of the most important taxi insurances in Washington as it designed to protect youricab in particular. This assumes utmost importance in two situations- 1. When you lease or rent your cab
2. If you have a lien on it from the original auto finance loan. Your taxi will be covered against theft, vandalism, collision or rollover, depending on the severity of the physical damage. This comes in three kinds of protection: - Comprehensive Physical Damage Protection: This insurance protects you from awide range of natural hazards or unexpected emergencies such as damage caused by a dangerous storm, the taxi being stolen, broken into or damaged by vandalism.
- Collision Protection: This is particularly designed to pay for expenses that occur due to collisions, skidding, or if the cab runs into a fire hydrant or mailbox.
- Specified Peril (CAC): Specified Peril insurance is also called the Fire and Theft with Combined Additional Coverage, or CAC. This protects your taxicab with insurance against those perils that are specified as being covered on your insurance policy.
Whether you live in the sun and are looking forTaxi drivers insurance California, or are up the coastline looking to explore thetaxi insurance Washington market, investing in the right insurance in important for the success of your transportation business.
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Taxi Drivers Insurance California, Taxi Insurance Washington,
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