COVID-19 has had a lot of negative impacts on the general population, and many people are losing their jobs because of it. Public transportation services, in particular, are experiencing a lot of challenges because of the current pandemic. If you are a taxi driver or own a rideshare business, you may be wondering how you can possibly recover after months of inactivity. Here is some information that may help you boost your taxi and/or ridesharing business after COVID-19.
How COVID-19 Affects the Taxi Business
You don’t need to be a rocket scientist to recognize that taxis and COVID-19 don’t mix. There are two main reasons for this: people are fearful about taking public transportation, and people don’t need to travel as much right now.
In New York, many yellow cab drivers report fare drops of more than two-thirds since March. Taxi drivers in other states are following suit due to the decreased demand for cabs all over the United States. To remain competitive, taxi drivers feel they must slash their prices to attract the limited businesses available.
All of this information is certainly disheartening. However, you don’t have to stand idly by as a victim of ridesharing and COVID-19 challenges. Instead, there are things you can do to boost your business after COVID-19 is over.
Things You Can Do to Boost Your Taxi or Ridesharing Business
Though taxis and coronavirus don’t mix, the good news is that the economy is starting to get going again. Here are some things you can do to boost your taxi business, starting now:
- Make your taxi safe. People are more likely to consider riding with you if your taxi is safe. You’re also more likely to stay well if you take precautions. These may include wearing a mask, avoiding handling money whenever possible, and making sanitizer available to your passengers. You should also ask passengers to ride in the back and disinfect your car as frequently as possible.
- Digitize your business. Ridesharing and coronavirus concerns make it necessary to enhance your business and make it more competitive. A great way to do this is by digitizing your business. Allow customers to book rides easily with a few simple clicks.
- Purchase Taxi Insurance. Your taxi is basically your livelihood, so it’s important to protect it. There has never been a better time to purchase taxi insurance than now. Quality taxi insurance policies cover both you and your vehicle so you have greater peace of mind.
If you follow these steps, you can increase your likelihood of standing out from your competition. You’ll also be more likely to attract business and make a comeback after COVID-19.
Contact American Risk Management
American Risk Management, Inc. (ARM), along with its predecessor entities, has provided public auto business owners with coverage for their vehicles and operations since 1938. We provide coverage to taxis, sedans, limousines, ride-sharing vehicles, sightseeing tours, courtesy shuttles, school shuttles, last-mile delivery, and couriers across the Washington, D.C. metro area. Our expertise and experience in the commercial transportation industry allow us to provide our clients solutions that fit their unique risk profiles. To learn more about what we can offer you, call us today at (202) 547-8700.