What is Taxi Insurance?
Taxi Insurance is a form of policy specifically designed to protect those who carry people to various destinations in a vehicle they own.
As a taxi driver working on any hire and reward basis, it will be essential for you to have a policy in place. You will need to insure both the vehicle and have public liability cover in place. These are both required by law.
Quite often, taxi cover is also referred to as hackney carriage insurance.
Types of Taxi Cover
Insurance policies are typically broken down into three areas. These include private hire taxi insurance for those who operate on a pre booked basis. An Uber driver is also private hire. Check out our Uber Insurance for more.
There is also public hire insurance for those who wish to operate on a ‘flag down’ basis. These forms of taxi are less common and tend to operate more in cities.
Finally, black cab insurance for those who operate a black cab within London or other city centres.
What can our taxi brokers offer?
Dependant on your circumstances, our network of brokers have options for policy only deals, as well as named driver cover. We have a multitude of options for your individual insurance needs. Whether it be for an individual cover policy or whether you are looking to insure a taxi fleet.
Our vetting process is easy, simple and will require only 5 minutes of your time before we can personally connect you directly to the broker that will suit your needs, and therefore provide you with the most competitive price.
What does taxi insurance cover?
As with any other type of policy, the level of cover will vary depending on the policy and the provider, but there are a few essential features you should always look for in your taxi policy.
Public and private cars
You’ll find that most insurers will cover both public and private taxis, but the quote may differ between the two so make sure you take the time to compare policies.
Public hire polices include taxis that can be hailed in the street, hired from a taxi rank or privately booked via phone or online in some instances.
A private hire car would be classified as a taxi that can only be pre booked in advance, and not flagged down on the street or at the rank. Anyone who works for Uber would fall into this category.
Different vehicle types
Most policies should cover pretty much every make and model of vehicle as long as the passenger count never exceeds eight people.
Once you go above eight passengers you’re looking at minibus insurance possibly, so be sure to double check your policy.
Different use of your vehicle
Does the policy only cover your vehicle for the times it’s being used as a taxi? The answer there is usually no, you can use your vehicle for domestic purposes as well and still be fully covered.
The only thing you may want to do in this situation is double check the fine print from the local council, as rules can differ from place to place.
Using the wrong fuel
This is a problem that is more common than you may think! Most taxi cover policies will cover such a mishap, but again, be sure to double check the fine print to make sure.
We’ve all had a chip or crack on our windscreen, and just like your domestic car insurance, you’ll find that most taxi broker companies will cover this kind of issue.
As a final point, it’s worth noting that taxi cab insurance does not cover public liability in most cases.
It is possible to get a combined policy on occasion, but as a general rule, you’ll find that you need public liability insurance separate from your taxi policy.
What sort of things will I be expected to know for my quotation?
In order to determine the brokers that will be the most competitive for you, we will need to ask a few questions in order to start our vetting process – don’t worry, it only takes about 5 minutes!
First of all we will need to know whether you are an individual looking for a policy or a company.
If you have the vehicle registration number to hand, that will also speed up our vetting process.
After collecting some basic contact information, such as your name, address and postcode, we can then move on towards the specifics of the policy, detailing which type of policy you are looking for.
Finally, before searching our database for brokers that will be able to provide competitive quotes for you, we will ask how many years no claims bonus you have collected, as this may help reduce policy prices significantly!
Once we have found which of our brokers can help you the most, we will transfer you directly to them on a priority line – meaning that you don’t have the hassle of waiting around to speak to a specialist broker. As well as this, we will pass the details that have been taken by us directly to the broker, speeding up the quotation process on their end considerably.
Can I get a Cheap Taxi Insurance Quote?
Like any insurance, your ability to get a cheap quotation and policy will depend on the value of the vehicle you wish to insurance, your claims history and your experience primarily.
Your best option is to always speak with the advisor. Building your No Claims Bonus though as you gain experience is always your best option to help reduce the cost of your insurance.