Taxi Insurance

Stay Protected on the Road with Comprehensive Taxi Insurance.Taxi insurance provides financial protection for taxi drivers and their vehicles. Coverage may include liability, collision, and personal injury protection….









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What is taxi insurance?

It is an insurance policy that provides benefits to commercial cars (Taxi/cabs). It offers financial cover in case of an accident, theft, or damage due to natural disasters. The policy is applicable only for commercial cars/taxis – the vehicles used for business purposes. Every owner of commercial vehicles running on Indian roads must hold a valid insurance policy for their vehicles. Since damages could occur in any form, it makes sense to hold Comprehensive Insurance policy.

Need for taxi insurance

Accidents are very common occurrences in India these days due to spiraling traffic woes. The losses and the recovery after an accident is very tough on the vehicle owner/ driver. Taxi insurance becomes much helpful in such a situation, not just in providing financial coverages but also helping out the policyholder with several add on benefits at the time of need. Owning an insurance policy makes people follow the Motor act, 1988 and helps avoid paying such huge fines.

With the option to buy policies online, it is much easier for taxi owners to buy the best policy for their vehicle. It becomes a great tool to save the rider and the pillion rider during an emergency.

Types of motor insurance

Third-party liability insurance

The damage caused by your vehicle to the third party property/ person is covered in this type of taxi insurance. It helps policyholders with third party claims for the damages. According to the Indian motor laws, every taxi or cab owner must mandatorily hold a valid insurance for their vehicles.

Comprehensive insurance cover

It gets you even more benefits by providing covers to the damages for the third party property/person as well as for the policyholder’s property/person. The benefits are double as far as users are concerned so it is very popular in India. Natural and Man-made disasters are covered in this.

Add-on benefits

There are several add on value benefits for policyholders,


No claim bonus cover

When a policyholder doesn’t request a claim during the policy tenure then during the policy renewal, there is a discount provided in the renewal amount called No Claim Bonus cover. The benefit is given based on the unclaimed records in the past.


Zero depreciation

Depreciation value is the cost of a vehicle after a period of usage. It is less than the original price of the car. The add-on helps reduce such deductions. This is the most popular add on value people prefer.


Breakdown assistance

In case, a rider is left alone in the middle of the road because of some fault in the vehicle without any help, this add-on will serve the policyholder. A 24*7 helpline is available to assist the rider in case of such an emergency.


Consumable cover

The add-on covers the charges against the consumable products during service. Consumable products used in cars are nut, bolt, engine oil, lubricants etc.

Benefits and features of taxi insurance

  • There are options available to make a direct claim.
  • The insurance firm has a garage network- a group of garages recommended for insured vehicle’s cashless service.
  • A comprehensive taxi insurance provides financial support to damages caused to the policyholder’s vehicle.
  • Supports third party claims against damages caused by policyholder’s vehicle.
  • Insurance saves you from catastrophic losses thus preventing business closure.
  • Settlement processes are so simple and easy to claim.

Taxi Insurance exclusions

  • caused during war, nuclear activities and related activities
  • due to deliberate carelessness of rider and routine wear and tear due to frequent usage
  • electrical breakdown isn’t considered
  • Damages incurred due to willful negligence of the driver
  • damages caused when the driver is found to have driven the vehicle under the influence of alcohol or drugs
  • Damages that happen outside the geographic boundaries
  • If the driver doesn’t own a legal driving license
  • If the policy has expired
  • Depreciation value of the spare parts unless nil depreciation cover is purchased

Details required to buy Taxi Insurance

Fincover is a great site to buy taxi insurance policies online. It allows people to compare taxi insurance quotes from several insurance providers thus allowing you to choose the best that fits your requirement. There are several personal details a person must enter in the website to buy a policy as given below:

Personal details
  • Name
  • Phone number
  • District
  • Area
  • Pin code
  • Email Address
Vehicle details
  • Registration city
  • Engine specification
  • Model
  • Fuel used
  • Manufacturing year
  • Body material
  • Current policy(applicable)
  • Policy term
  • Ownership transfer
  • Add on coverages
  • NCB


There are several reasons why you should apply

How to buy

How to buy Taxi Insurance online at Fincover?

  • Login to “Fincover”
  • Select your car model
  • Enter the registration number
  • Select your priorities
  • Get to see the best available policies in the market with their special features
  • Choose the best that fits you
  • Select the payment method and make the payment