Taxi | Livery

Livery Taxi Insurance | Hall Insurance Services | Champaign ILTaxi | Livery Insurance (only available in Illinois)

One of the lesser-known insurance types businesses should consider, if it applies to them of course, is taxi or livery insurance. Businesses that transport people are required to have not only an adequate amount of insurance coverage, but also special kinds of licensing. These are a few things you might want to know before you dive into driving taxis or other types of passenger vehicles for business.

What Types of Liability Policies are Needed?

Depending on where your business is located and what the specific laws concerning taxi/livery insurance are, you may need as many as five different liability insurance policies. These policies are each designed to add another layer of protection around your business. They include:

• General Liability Insurance
• Commercial Auto Liability Insurance
• Professional Liability Insurance
• Excess Liability Insurance
• Errors and Omissions Insurance

Even if the law doesn’t require you to have all these liability insurance policies, it’s a good idea to carefully consider the depth of your existing liability policies and explore areas where improvement is warranted.

What Kind of Coverage is Necessary for Physical Damage?

It’s important to ensure you have coverage adequate to provide for the needs of your passengers in the event an accident is the fault of your driver. It is also important to have insurance coverage designed to get your car, or fleet of cars, back on the road in the aftermath of an accident.

Commercial vehicle insurance that covers physical damages takes care of this for you. Your number one goal is going to be getting your car(s) back on the road and turning a profit once all parties are healthy and hearty, of course. Physical damage or body and mechanical damage insurance helps make this happen.

Is Workers’ Compensation Insurance Necessary for Taxi Companies?

With any business that hires employees, in the state of Illinois, it’s a safe bet that workers’ compensation insurance is a requirement. This insurance is important for the sake of your employees and provides some degree of protection from employee lawsuits in the event of an injury-causing accident.

Don’t forget to plan for worst-case scenarios as well with accidental death and dismemberment insurance. AD&D insurance is the one type of insurance you hope you’ll never need to use as a business owner. It’s also one you can’t afford to go without, for the sake of the survival of your business if the worst ever does occur.

Discuss your taxi/livery business and its unique needs with your insurance agent today to find out the precise coverage options that are ideal for your circumstances. You may find out you’re close to having the ideal coverage than you realize, or that there are major gaps in your insurance protection that need to be filled.

Our goal is to ensure that your coverage meets your needs at the best possible price. Hall Insurance Services provides Auto, Home, Life, Business, Taxi | Livery and Workers’ Compensation

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Hall Insurance Services | 711 South Neil St. - Champaign, IL 61820