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I believe bonds in lieu of insurance are commonly allowed across the US, though maybe not for taxis? As the fleet size increases, the amount of the bond goes u
by oasisbob 12y ago
I believe bonds in lieu of insurance are commonly allowed across the US, though maybe not for taxis?
As the fleet size increases, the amount of the bond goes up as well -- essentially giving companies the choice of self insuring. I'd be surprised if many independent operators were self-bonded.
And of course, it's not like the minimum insurance requirements are great across the board either.
- aianus 12y ago> And of course, it's not like the minimum insurance requirements are great across the board either. The alternative is something like Toronto where personal car insurance costs upwards of $300 a month for a 23 year old male with no tickets or accidents because the minimum coverage is so extensive.