Not all, but some taxi drivers are usually laws unto themselves on the road. Driving as they please without paying much attention to the rules of the road and this is has become a norm on South African roads. Therefore insurance is a necessity to protect themselves, passengers and other motorists.
Clarendon Transport Underwriters (CTU) Taxi Insurance Provider is recognised as the leading business protector and provider of taxi insurance solutions and products in South Africa.
With insurance products like CTU comprehensive taxi insurance, which includes cover for damages sustained through taxi accidents and theft or hijacking. The cover extends to windscreen damage, riot/strike damage and third party damage.
Passenger Liability gives protection should the taxi driver cause the accident and be held legally responsible for death of or injury to passengers in his/her vehicle.
Whether it’s accidents through negligence if a taxi driver causes an accident involving the insured taxi vehicle your passengers have legal rights. They can claim compensation for death/injury or medical expenses from the Road Accident Fund (RAF). Or sue for any balance over and above the compensation received from RAF.
Passenger Liability also referred to as Personal Accident also includes compensation should the driver or passengers be killed in an accident. The driver is covered for Maximum Indemnity of R100 000, driver R30 000 and passenger (death cover only) R5000 each.
There’s also Cover for Loss of Income in the event of a claim. CTU will pay the Insured an amount of R400 per day, for a maximum of 15 working days (Saturdays, Sundays and Public holidays excluded). This cover is calculated from the date of the authorisation for repairs by the assessor. Or other authorised persons approved by the Company until the vehicle is available for collection from the repairer.
And Deposit Protector is where the driver’s vehicle has been damaged and CTU regards their vehicle as uneconomical to repair and declares it a write off. Or if the vehicle is stolen or hijacked and not recovered by claim settlement date, CTU will indemnify vehicles up to two years in age. And payment of the difference between the original purchase price as new. And the amount paid (before deduction of the first amount payable) up to a maximum of R75 000 per event.
And vehicles over two years in age will receive payment of R50 000 towards a deposit for a replacement vehicle.