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Yellow Cab and Green Cab Insurance
Yellow cabs have been a part of the NY city scene since the early 1900's. Each Yellow taxi cab is licensed under a medallion system and there are only a limited amount of medallions available which have not been increased since they were issued. This has led to the medallions commanding a high premium and today they may even cost up to a million dollars.
With the limited number of yellow cabs on the streets it was found that most of them serviced only the Manhattan area and that the rest of the boroughs had little or almost no cabs available to transport people. It was in 2011 that the Five borough taxi plan was signed into existence and 18,00 new Street hail livery permits were made available. Though there were legal challenges to this law in 2013 the first green taxi permits were issued.
Whether you own or drive a Yellow cab or a Green Taxi you are going to need insurance for it. Though most of the medallions for the yellow cabs are owned by corporations who then lease them out to drivers. These corporation owned medallions would have the corporations responsible for the insurance on the yellow cab and they usually insure the whole fleet under the same policy.
You know that if you own a medallion and drive a Yellow cab you need to insure against damages and injury which is Public hire insurance which lets you pick up passengers and use a signaling device to indicate their availability. Green Taxis which are allowed to pick up passengers in the outer boroughs also need insurance coverage. Their insurance coverage must meet the minimum of the TLC liability coverage requirements.We at Greenline Insurance Brokerage are well versed in the requirements of the insurance you would require. It does not matter whether you drive a Yellow cab or a Green taxi.
We are here to see that you get the best insurance at the lowest rates since we represent all th10456 and our phone number is e major insurance companies. We can assure you that our representatives will be able to get you the insurance you need with the minimum hassle and the least amount of your time involved.
We have our office at 3387 3rd Ave. 2nd floor, Bronx, NY10456 and our phone number is 718-861-2000. We would be very happy to answer all your questions over the phone or if you visit our office. We would soon be opening another branch of our company at 620 Coney Island Ave., Brooklyn, NY 11218 in order to be able to serve you better.
- 3387 3rd Ave 2FL Bronx, NY 10456
- 620 Coney Island Ave Brooklyn, NY 11218