Insurance Hope for Taxi Drivers and Owners

Taxi drivers all over the country have for some time now been at the disadvantage of strict insurance policies that usually leave them left out on insurance options.

Phoenix Namibia Assurance Company Limited, a branch of the internationally acclaimed and cemented Phoenix Assurance Group, has introduced an insurance initiative that may be the end of many troubles for taxi drivers and owners.

According to Shikongeni Ngaikukuete of Phoenix Namibia Assurance Company Limited, one of the main reasons why the initiative was created was because of the high accident rate in Namibia involving taxis especially. Without celebrating the reality, Ngaikukuete said that it is a fact that taxi drivers may be negligent in their driving in most cases.

“It is rare to find an accident and not have a taxi involved. We have negligent taxi drivers who drive irresponsibly, this can be because the cars they drive don’t belong to them or simply because of the competitive market they are in,” Ngaikukuete said, adding that they came up with the initiative to protect people‘s businesses as well as limit the risks involved in public transportation.

He continued that the number of accidents in Namibia, especially those involving taxis, have become a great concern.

When asked how different this insurance scheme is from the already existing ones, Ngaikukuete said that apart from it being the first of its kind, it also has great benefits such as third party damages as well as passengers.

“We are efficient, we are fast and we do not only cover the vehicle but we can cover third party damages, as well as your passengers and loss of use,” he said.

Cover

In providing affordable insurance solution for taxis in the capital city, the insurance covers:

• Motor vehicle total loss of the insured vehicle. The maximum sum insured for each vehicle would be N$60 000. There will be no excess in case of the market value of the vehicle is less than N$40 000. For vehicles from N$40 001 to N$50 000, the excess would be 5% of the claim amount. For vehicles above N$50 001, the excess would be 10% of the claim amount.

• Third party property damage. For all third party property damage, where police has indicated the insured taxi driver as at fault, the insurance policy will cover a maximum of N$10 000 per claim for five such incidents per taxi for the duration of the policy period. No excess for the first claim, but 10% of the claim amount for the second claim and 20% of the claim amount for the fourth and fifth claim.

• Personal accident insurance for the driver and occupants. Policy will also provide cover for the driver and up to four occupants in the taxi. In case of a death and disability as defined by the policy, the maximum amount payable per person is N$50 000 during the policy period. Compensation in case of death will be paid to the nominated person of the deceased after proof of legal documentation is presented to the insurer.

The entity already has a number of drivers signed up that have reported that they are pleased with the services.

Applications are open. For further information contact Phoenix Namibia Assurance Company Limited at info@phoenixassurancenamibia.com, visit their offices at Phoenix Namibia Company Limited at 4 Lindequist Street in Windhoek or call 0817009963.

– Phoenix Assurance Group

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