Taxi Driver Sickness Insurance: How long could you survive without your income?

July 29, 2013

A recent study has revealed that the average family only have enough savings to survive for 18 days if they were to lose their income.

The Deadline to Breadline report, based on analysis by the Centre for Economics and Business Research, also discovered that 37% of Brits do not have any savings at all.   Shockingly, the worst effected age group was those aged 35-44, with a medium average savings of just £310.

Our taxi insurance team feel that these findings highlight just how narrow most peoples reserve is.  British households are clearly still under a lot of pressure and after rent, mortgages and other bills there is little left over for savings.

What to do if you are finding saving difficult?

When you are trying to recover, the last thing you need to worry about is finding the cash to cover household bills and running up debts. Luckily, our taxi insurance specialists now have access to a sickness insurance product that has been designed especially for taxi drivers as it requires no financial underwriting.

The vast majority of sickness plans have maximum benefit limits based on declared income and because taxi drivers deal in cash this can be difficult for them to prove.  The premiums are competitive with £500 of monthly benefit costing £12.75 per month and a £1000 of monthly benefit costing £24.99 per month based on somebody being aged 40. (subject to terms and conditions)

For peace of mind and more information on how to protect your income, call our taxi insurance team on 0800 142 28 28 or email crewe@insuretaxi.com 
Posted by Tim Crighton