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Taxi
Insurance Rates: Running Around or Getting the Runs -
Both Cost Money
When you
have taxis with multiple drivers, each one brings his or
her own baggage to the wheel. It's like musical chairs
with some players on anti-depressants or speed.
Cabs are
often on the road 24/7/365 and frequently driven at high
speeds in crowded streets. This can cost insurance
companies more than whiplash claims from a 20 car
pile-up, but there are other less obvious risks.
Imagine a
driver with gastrointestinal problems trying to
negotiate the cab through traffic and get his fare to
the airport on time. Here's a guy fighting waves of
cramps, breaking out in a cold sweat, and using every
ounce of concentration he has so his front seat doesn’t
become a lavatory. How likely is he to get into an
accident?
It's a
question an actuary is paid to ponder.
And just
who are these drivers?
A lot of
cab drivers are career hacks who know how to manoeuvre
their vehicles and are ace drivers at high speeds, in
tight spaces and with enraged drivers and pedestrians
cursing, screaming and throwing things at their cabs.
Then
there's the rest of the crew. Part-time taxi drivers
trying to make ends meet by driving cabs, with a lot on
their minds beyond that red light they just drove
through at double the speed limit.
Maybe the
driver's been awake for two nights studying for his
Knowledge exam.
How secure
do you feel when the taxi driver can't stop crying? She
just found out her husband is fooling around with his
nineteen-year-old co-worker. She's raising her voice and
the cab is flying across the highway. Her hands aren't
even on the steering wheel: she's waving them in the air
screaming about that b*****d and the slut he works with.
Hello insurance!
When you
step into the back seat of a cab, you put your life in
the hands of a driver you know nothing about. Maybe he
just decided to be born again, and you're asking for a
lift to the Atheist Convention. It doesn't take much to
set some people off.
Insurance
companies know these things happen. They make their
money by having customers pay inflated premiums to
protect themselves from risks that are unlikely to
materialize. Their premiums are overkill on the off
chance a taxi driver crashes into the pope's limo,
injures the pontiff and wrecks the cab in the bargain.
It's about saving the bottom line.
Look at
the average skyscraper housing an insurance company. Now
look at the average taxi garage, full of rats, grease,
stale sandwiches and toxic fumes.
Is this a
fair fight? Do you really feel sorry for the
stressed-out insurance executives?
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