Legal expenses cover up to $100,000
When you are involved in an accident the lawyers will already be gearing up for a very expensive fight. In these times there are some attorneys operating on a "no win no fee" basis which means that they are very aggressive. If you are on the losing end without private hire insurance then you can end up with a bill that can potentially damage your business for the foreseeable future. Therefore it is highly recommended that you take out a policy at the earliest opportunity.
A complete accident management program
When you are involved in an incident, there is a sense of panic. You tend to forget to do the things that you have practiced. Instead you will make quick decisions that end up making matters worse. With the acquisition of private hire insurance one of the stress factors will be removed. You can then concentrate on recovering from the accident and dealing with the legal procedures that follow such an incident. This is particularly important if you have very limited experience within the industry. It will help you to steady the ship.
Social use coverage for a spouse
The ability for your partner to use the vehicle for social purposes is an important consideration in the provision of private hire insurance. Although you may want to keep the business and your personal life separate, this is an objective which is hard to fulfill. You will be tempting to drop the kids using the car or to get that extra bit of shopping which you have forgotten. That scenario is fully covered by the policy as long as it is for a social reason. Your spouse needs to be informed of the terms under which the policy applies to them.
A protected NCB scheme for more than a year
Sometimes you are not prepared to give up your "no claims bonus" even when you are involved in an accident. Some private hire insurance policies might allow you to join the protected scheme. Nonetheless you need to drive carefully so that you reduce the number of incidents under which the provider is obliged to help you out. A consistently safe driver ends up paying low premiums and they can sustain their business for a long time. By contrast a careless driver is going to have to be prepared to pay different claims arising out of accidents.
Roadside and breakdown assistance
There are other peripheral benefits that can be added on the policy that you have purchased. For example you may get breakdown cover which enables you to deal with roadside incidents. These perks are very important for the purposes of improving the way that you deal with the business situation. If you get roadside assistance then it is unlikely that you will spend hundreds of dollars on a breakdown service. Watch out for the providers who are able to give you these options. They offer you the perks as a means of ensuring that you remain a loyal customer.