Two types of commercial taxi insurance
There are primarily two types of commercial taxi insurance: third-party taxi insurance and a comprehensive taxi insurance policy.
Third-party taxi insurance
As per the Motor Vehicles Act of 1988, it is legally mandatory for every vehicle to have third-partyinsurance 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.
Comprehensive taxi insurance
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.
