In NSW, every vehicle used to provide a passenger service must hold third-party property insurance with a cover of at least $5 million. Third-party property insurance covers damage caused to other people’s vehicles or property arising out of an accident.
As a taxi or booking service provider, you must:
- ensure all vehicles that provide passenger services under your authorisation have appropriate insurance
- maintain appropriate records to monitor and confirm insurance policies are current and compliant with the point to point transport law
- check that insurance policy/s have been renewed on time without any gap in days while the vehicle is being used to provide a taxi or hire vehicle service
The vehicle owner can obtain a Certificate of Currency from their insurance provider (not the broker), which will provide evidence that a vehicle’s insurance remained current at the time the certificate was generated
Is your insurance company registered?
Recently, our Audit team has found that some service providers have insurance with companies that are not actually accredited. To make sure your insurer is compliant and you are appropriately insured, you can check if they are registered with a regulatory body. It is good practice always to check that your insurance provider is registered and is legitimate.
Want to know more about your insurance obligations?
Our vehicle insurance factsheet provides information to help ensure that your vehicles are appropriately insured and the appropriate process and procedures are in place.