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Taxi insurance
25-Feb-2026
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Taxi and Cab Insurance Online at Affordable Price

Taxi insurance is a specialized vehicle insurance policy designed to protect taxis used for commercial purposes. It provides coverage for a range of risks, including accidents, damage, theft, and third-party liabilities. This insurance ensures that your taxi is safeguarded while you focus on running your business smoothly.

Whether your taxi is involved in a minor accident or suffers significant damage, taxi insurance helps cover repair costs, ensuring your vehicle is back on the road quickly. It also protects you from financial losses if someone else makes a claim against you for damage or injury caused by your taxi.

By investing in taxi insurance, you can operate with peace of mind, knowing that your business is prepared for unexpected challenges. This makes it a critical requirement for anyone in the taxi service industry.

what is taxi insurance

Benefits of Taxi Insurance

Taxi insurance offers a wide range of benefits that are essential for protecting both your vehicle and your business. From financial protection in case of accidents to legal compliance, it provides the security you need to operate confidently in the competitive taxi industry.

  1. Financial Protection Against Accidents: Taxi insurance covers repair costs or replacement expenses if your vehicle is damaged in an accident. This ensures your business can quickly recover without bearing a heavy financial burden.
  2. Coverage for Third-Party Claims: It provides protection against claims made by third parties for injury or damage caused by your taxi, helping you avoid expensive legal and compensation costs.
  3. Theft and Vandalism Protection: If your taxi is stolen or vandalized, taxi insurance helps cover the cost of repairs or replacement, minimizing the impact on your operations.
  4. Passenger and Driver Safety: Although primarily for vehicle coverage, taxi insurance often includes options for additional liability coverage, ensuring peace of mind for both drivers and their customers.
  5. Legal Compliance: Operating a taxi without proper insurance is illegal. Having taxi insurance ensures you meet all regulatory requirements and avoid penalties.
  6. Customizable Options: Taxi insurance policies can be tailored to fit your specific needs, such as adding breakdown assistance or legal expenses coverage, providing a comprehensive safety net.

Types of Taxi Insurance Policies

There are several types of taxi insurance policies available, each offering different levels of coverage to suit the needs of your business. Understanding the options can help you choose the right policy to protect your vehicle and ensure your taxi operations run smoothly.

Third-Party Insurance

As per the Motor Vehicles Act of 1988, it is a legal requirement for all vehicles, including taxis, to have third-party insurance coverage to be driven on Indian roads. Third-party taxi insurance protects the policyholder in cases where they are held responsible for an accident involving a third party. This policy covers damages or injuries to others, including passengers, pedestrians, or other vehicles. Additionally, taxi owners can opt for add-ons such as personal accident coverage, which offers financial support in the event of injury or death of the driver or passengers in an accident.

Comprehensive Insurance

A comprehensive taxi insurance policy offers protection against a wide range of unexpected events like natural disasters, theft, fire, vandalism, riots, and more. It also covers third-party liabilities, giving you peace of mind in case of accidents involving others. Plus, you can opt for add-ons such as NCB Protector or zero depreciation cover to enhance your policy, ensuring even more comprehensive coverage for your taxi.

What's Included inTaxi Insurance?

Taxi insurance is a specialized type of commercial vehicle insurance designed to protect taxi drivers, their passengers, and their vehicles. The coverage typically includes the following elements.

Fire Damage Coverage

If your taxi is damaged or destroyed by fire, whether accidental or due to a breakdown, the insurance policy covers the cost of repairs or replacement.

Personal Accident Coverage

This covers you or the driver in case of injury or death due to an accident. It provides financial support for medical expenses or compensation for loss of life, helping to safeguard the financial well-being of the driver and their family.

Theft

If your taxi is stolen, taxi insurance will provide compensation for the loss, either through repair costs if the vehicle is recovered.

Natural Disasters

In the event of damage caused by natural calamities such as floods, earthquakes, storms, or landslides, taxi insurance offers coverage to repair or replace your vehicle, helping you recover from unforeseen situations.

Third-Party Liability

Taxi insurance protects you against claims made by third parties for injury or damage caused by your taxi. This coverage ensures that legal expenses and compensation claims are handled, preventing major financial losses.

Accident

If your taxi is involved in an accident, your taxi insurance policy will cover the costs of repairing the damage to your vehicle, whether you're at fault or not. Comprehensive policies generally cover both minor and major repairs, ensuring that your vehicle is restored to working condition.

What is Not Covered in a Taxi Insurance?

  1. Wear and Tear: Normal wear and tear that occurs over time due to regular use of the vehicle, such as engine wear, brake pads, and tire degradation, is not covered. Only accidental damage or sudden failure is included.
  2. Driving Without a Valid License: If the driver does not hold a valid driving license at the time of the accident, the insurance provider may deny coverage. It is essential that the driver is legally authorized to drive the vehicle
  3. War: Damage or loss caused by riots, strikes, civil disturbances, or war-related events is usually not covered under standard taxi insurance policies.
  4. Negligence or Improper Maintenance: If damage is found to be intentional or caused deliberately by the owner or operator, the claim will be rejected by the insurer.
  5. War and Nuclear Risks: Damage caused due to poor maintenance or neglecting regular vehicle servicing (e.g., failure to replace worn-out brakes or tires) may not be covered. Insurance generally doesn’t cover damages resulting from lack of care or maintenance.

Documents Needed to Purchase Taxi Insurance

To purchase commercial taxi/cab insurance, make sure you have the following documents ready

  • Vehicle Registration Certificate (RC)
  • Previous Insurance Policy (for renewals)
  • Any of the following documents for KYC verification: PAN, Aadhar, Driving License (DL), Voter ID or Passport
insurance documents

Add-Ons available on Taxi Insurance

Taxi insurance policies offer several add-ons to enhance the coverage of your vehicle. These additional options can be added to your policy to provide extra protection based on your specific needs.

  • Zero Depreciation Cover

    With this add-on, you receive a higher payout during a claim, providing peace of mind. The Zero Depreciation cover eliminates depreciation costs on vehicle parts when calculating claim settlements, ensuring a more comprehensive payout.

  • Engine and Gearbox Protection

    This add-on provides protection for damage to your vehicle's engine and gearbox, which is typically not covered under standard policies. It's especially useful if you frequently drive in challenging conditions.

  • No Claim Bonus (NCB)

    The No Claim Bonus (NCB) is an add-on benefit available with taxi insurance that rewards policyholders for making no claims during the policy year. If you don't file a claim during the policy period, you are eligible for a discount on the premium for the next policy renewal.

  • Roadside Assistance

    This add-on offers emergency support in case of a breakdown. It can include services like towing, minor repairs, fuel delivery, battery jump-start, and more, ensuring your taxi can quickly get back on the road.

  • Key Protect Cover

    The Key and Lockset Replacement Add-On covers the cost of replacing locks and keys and installing a new lockset in your insured taxi when the keys are lost or the lockset is damaged. This add-on ensures your vehicle remains secure without the financial burden of replacing keys or locks.

How to File a Claim of Taxi Insurance?

Here's a step-by-step guide to help you through the process.

  1. Inform the Insurance Provider: As soon as the incident occurs (accident, theft, or damage), immediately notify your insurance provider.
  2. Document the Incident: Surveyor will gather evidence of the damage or accident scene
  3. Submit Required Documents Prepare the necessary documents and submit them to your insurance company.
  4. Negligence or Improper Maintenance: If damage is found to be intentional or caused deliberately by the owner or operator, the claim will be rejected by the insurer.
  5. Claim Processing: After the verification process is complete, the insurer will process your claim.

Frequently Asked Questions

Private car insurance means for personal use vehicles, while taxi insurance is designed for commercial use. Taxi insurance premiums are different because taxis operate more frequently and carry passengers for hire.

Comprehensive taxi insurance provides complete financial protection for your taxi business, such as:

Third-party liabilities

Own damage due to accident

Theft and fire

Natural disasters - flood, earthquake and storm

Personal accident cover for driver

Yes, you can renew your taxi insurance policy online by entering your vehicle number and policy details. Online renewal is fast, paperless and easy.

To buy taxi insurance you will need following documents:

- Vehicle Registration Certificate (RC)

- Driving License

- Previous insurance policy if you are renewing

- KYC documents: PAN Card or Aadhaar Card

No Claim Bonus is a discount offered on your premium if you have not made any claims during the previous policy year. It helps reduce your renewal cost.

Yes. Taxi insurance includes third-party liability coverage, which protects against passenger injury claims. You can also add additional passenger cover for enhanced protection.