TLC Insurance - All You Need To Know And More
In New York City Taxi and Limousine Commission, You cannot legally operate a taxi or For Hire Vehicle in NYC. The TLC is essential or requires that all certified drivers to carry a minimum level of liability insurance, as standard personal car insurance does not cover accidents when the vehicle is being used commercially.
It’s worth noting that minimum TLC Insurance covers other people and their property, it does not cover damage to your own car. If you do not have extra collision insurance to cover your own vehicle, then you’ll be stuck paying repairs out of pocket. That could leave your car off the road for a while, which eats into earnings.
What TLC Insurance cover?
Minimum requirements are liability coverage,– property damage, personal injury protection and uninsured motorist coverage (UM). Its means they give you financial protection if you harm to someone else or their property. (The ‘third party’). PD takes care of injuries or damages caused to persons or property by the insured driver. To another cars.