Best Answer: Typically, the rates for taxi cabs IS pretty high, but not even close to the prices you are mentioning. I insure several taxi accounts in Texas, and none are as high as you mention. With you starting a "new venture" you won't have any loss runs or transit logs to show for evidence, so it will be higher than if you had 3-5 years of experience. Remember that the rates in a smaller town or area will be lower that trying to insure in Seattle.
You need to check with your local jurisdiction to see WHAT is required as far as insurance goes. Some areas will allow you to insure for State minimums (which you can get through your States Assigned Risk Pool or Fund) - just finding an agent to write it would be the next step. If your local jurisdiction requires a higher limit of liability, or, if you are planning on entering any major airport, you may have to have higher limits of liability. This will increase the limits of liability required and cost you more money in
the long run.
What you need to do is call a local independent agent and ask them what they suggest. Just look for the PIA or Big I (Trusted Choice) logos, and you should be able to find an agent to help you.
You might call Vern Funk Insurance and ask to speak to Kevin Mulhaney. I don't have his phone number but they have been around a LONG time and should be in any phonebook in WA. He's an alright guy and if he does not have a market, he might be able to tell you who to call in WA State. Just tell him that you talked with a guy from Texas that is a friend of Jim Cash - that SHOULD get you thru the door or any telephone call screener.
You might also try contacting Richard Eliassen in Oregon. He might have some info being so close to WA. His email address is email@example.com
Good luck with your endeavors and I hope this helps!
Source(s): Insurance agent for 25+ years
Insuranceman · 8 years ago