With costs seemingly continually spiralling upwards, one of the leading brokers of taxi fleet insurance is warning its clients to remain fully covered at all times and not skimp on their policies.
Titan Taxi Fleet Insurance, which provides cover for owners of firms and owner drivers, believes that in these times of austerity, it can be a temptation not to renew to the level of cover that is necessary for people to operate in the sector.
It points to the ever growing cost of fuel as one of the reasons why the taxi fleet sector is feeling the pressure of this challenging economic environment.
Chief Executive Officer of Titan Business Insurance, Basil Tsapralis, said:
“The costs for the taxi sector are mounting on an almost weekly basis and there appears no end to the constant rise in fuel costs, and coupled with that, the additional expense of buying vehicles and keeping them on the road, and you can see why some owners and drivers would be tempted to look at all other costs and beat them down.
“But we always advise ours client to maintain their optimum level of cover, which suits them, and the authorities. This sector is all about being on the road and dealing extensively with the public at large, and all firms need not only the best cover they can afford, but also the level cover that the law demands and which allows them to operate as licensed carriages.”
Titan Taxi Fleet Insurance provides cover for numerous drivers and firms throughout the UK and is one of the biggest operators in the sector.
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