Posted by


Taxi drivers transport vast amounts of residents, business people, and tourists around the busy streets on a daily basis. With so much ground being covered, the risk of an accident, from a minor fender bender to those involving injuries, significantly increases. 

In addition, if the taxi is damaged, getting it repaired and back on the road as soon as possible is critical for business. This is where having the right insurance is well worth it. Whether you own or lease your taxi, are a single operator or have a fleet of vehicles, secure coverage to protect you, passengers, and vehicles.

Taxi Insurance Coverage

It is in your best interest to secure solutions to safeguard your assets from liability losses and protect your vehicle from physical damage and theft with commercial transportation insurance. Coverages in our Taxi Insurance program include:

Bodily Injury Liability

Covers losses if your owned or leased taxi is involved in an accident and you are found to be responsible for injuries to the third parties involved. This portion of the policy will pay for medical expenses, legal fees, lost wages, and pain and suffering up to the policy limit.

Property Damage Liability

Provides payment for damage to a third party’s vehicle that’s involved in an accident with you. If you are found to be at fault, the policy will pay for repairs or replacement of the other vehicle.

Medical Payments

Covers medical expenses for the driver and passengers regardless of who is at fault in an accident.

Uninsured & Underinsured Motorists Coverage

Provides liability coverage if you’re involved in an accident with another vehicle owner that does not have insurance or is underinsured.

Physical Damage

Includes comprehensive coverage to pay the expenses to repair your taxi if it’s vandalized, catches fire, or is damaged by something or someone other than in a collision (i.e. a tree falls onto the cab during a storm). It will also respond in the event your taxi is stolen. Collision coverage is also included and will pay for damages to your vehicle if it’s involved in an accident. 

You may also want to opt for rental, towing, and accessories coverage.

Why is this Coverage Important?

Your company should have both auto insurance and taxi insurance, as a standard auto insurance policy only covers claims resulting from a specific accident, not general claims for the company's business practices as a whole. Whereas taxi insurance can cover theft, vandalism, fire, and damage from accidents in which the company's driver is at fault. 

Note that there are certain minimum standards to qualify for taxi coverage. You must operate fare-based vehicles for use by the general public and all company vehicles must be properly maintained, and the company must keep a written maintenance log detailing the type of service performed and the date of service for each vehicle.  

About American Risk Management, Inc.

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.