Taxis are metered vehicles that operate locally and are licensed to provide passenger transportation services for-hire. Whether you own or lease your taxi, are a single operator or have a livery of vehicles, Forge Insurance provides the taxi coverage you need to keep your business running smoothly.
Everyday, throughout the area, taxis move thousands of business people, residents, and tourists from one place to another. The busy streets mean greater potential for accidents. That's where having the right taxi insurance comes in. Forge Insurance provides coverage for taxis, drivers and passengers. With an efficient and professional staff, Forge Insurance is dedicated to keeping your vehicle(s) on the road knowing that's what keeps your business moving forward.
Forge's 80-plus years of experience has enabled us to keep pace – and stay ahead – of the changing commercial transportation industry. We offer coverage solutions that protect taxis, sedans & limousines, as well as courtesy shuttles, school shuttles, last-mile delivery and couriers. Because of this experience, we are able to serve emerging niches like ridesharing and last-mile delivery and food trucks as they have exploded onto the scene.
Commercial Auto insurance is what we do. Delivering on the promise to be there for you when needed is our mission. We specialize in knowing our customers' businesses and providing a high level of protection and service at an exceptional value. We match and customize the right insurance coverages to their risks and needs at competitive rates. We provide specialized underwriting and claims services to craft the best protection and to speed their recovery when faced with accidents or disasters.
With more than 80 years of transportation insurance, Forge understands the risks faced by transportation companies. We provide tailored coverages for a wide range of passenger vehicles, including owners and operators of taxis, luxury sedans and stretch limousines, along with SUVs, vans and work trucks. Our commercial auto insurance program includes the following critical coverages:
Bodily Injury Liability
If you're in an accident while driving your taxi and there are third-party injuries for which you are found to be responsible, the policy will pay for the related expenses and bills, including medical care, hospital payments, and rehabilitation. It will also pay for defense costs and settlements or judgments that may result from a claim, up to the policy limits.
Property Damage Liability
If you're in an accident while driving and someone else's vehicle or property is damaged, the policy will pay for repairs or replacement of the damaged vehicle or property.
This coverage protects the driver and the passengers in your taxi. In the event that your vehicle is involved in an accident and the operator or the passengers get injured, the policy will pay for the medical expenses arising from the accident.
Offers protection for your taxi if it collides with another vehicle or a physical object, and pays for the costs of the limo repairs or replacement.
Protects your vehicle from accidents other than a collision. In the event of theft, vandalism, fire, or hailstorm damages to your vehicle, the policy will pay for vehicle repairs or replacement.
Uninsured or Underinsured Motorists
Protects you against drivers of other vehicles who do not carry liability coverage or who do not have enough insurance to cover the full extent of the damage if they are responsible for the accident.
Commercial auto insurance for taxis and other vehicles in the public transportation industry typically have higher rates than other business segments. This is largely because of the inherent risk or exposure due to the nature of public transportation. Taxi owners make money when they are transporting passengers. However, the risks increase when the wheels are always turning. This is different from other industries, such as professional services, that may use commercial vehicles to run errands. That said, there are many factors that contribute to insurance premiums. They include:
Your geography plays a role in how much insurance coverage costs. You may pay more in a larger city than in a smaller town.
Vehicle Types, Values and Sizes
As a rule of thumb, larger and more valuable vehicles have higher insurance premiums than smaller and less valuable vehicles.
Your driving experience matters to insurance companies. You can expect insurers to collect motor vehicle reports for drivers on your policy for the last three years. The drivers on your policy with multiple accidents and violations will cause your premiums to increase.
The coverage and limits you choose will have an impact on the overall premium. For example, higher liability limits or coverage equates to a higher premium as opposed to state minimum limits. Forge Insurance has a wide range of coverage options to help you tailor a commercial auto policy to fit your needs at an affordable price.
If you are in search of the cheapest commercial auto insurance, there are ways to lower your premium. First, keep a clean driving record. Driving history is one of the largest impacts on premium. Second, change your coverage limits and deductibles. For example, you can decrease your combined single limit from $300,000 to $100,000 or increase your deductible to share more of the risk. However, you may pay more out-of-pocket in case of an accident. Finally, Forge Insurance offers both paid-in-full and commercial drivers license (CDL) discounts. These discounts will help you save money on commercial auto insurance. The best advice is to tailor a commercial auto policy that offers the best coverage at a price you can afford. Let Forge Insurance help you customize a policy that fits into your unique cost and value situation.
Insurance companies generally have a set of taxi insurance requirements and rating factors you'll need to consider. These might include:
Check with your local Department of Motor Vehicles (DMV) to learn more about the state specific requirements. Ask your insurance company about its requirements.Do you drive a conventional taxi cab? Taxi cabs are traditionally painted yellow. However, some cities and states require a different color - sometimes a very specific one. You may want to check with your local taxicab commissioners office to learn the rules to operate legally.
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