What is Private Hire Taxi Insurance?
Private Hire Taxi Insurance is an insurance policy for taxi drivers that have been pre-booked by their client in advance of the lift being required.
Services such as Uber, and cabs that work from a taxi base come under this classification.
Private hire taxis cannot be flagged down in the street like a traditional black-cab style taxi. These types of taxis come under public hire taxi insurance.
There are typically three base levels of coverage available for you if you have a vehicle:
Third party only (TPO): A third party policy is the basic level of insurance you are allowed to operate with as a taxi driver.
It will cover things such as your passengers and anyone to which you may injure within an accident you may cause.
Third party, fire & theft (TPFT): The cover is the same as TPO but also for fire and theft of your vehicle.
Comprehensive: This provides the same as TPFT but also covers you and your vehicle.
However, our network of brokers can tailor a policy to fit your individual needs at the most competitive prices.
What other optional taxi insurance coverages are there?
Being a taxi driver can lend itself to a multitude of unpredictable events. Having suitable additional insurance covers is an extremely smart move when taking out a private hire policy.
Some of the options available to you are:
- Motor legal insurance: Motor legal insurance allows you to protect yourself with up to £100,000 of legal motor cover. This includes personal injury cover, the potential recovery of uninsured losses and a guaranteed replacement for your damaged vehicle.
- Taxi breakdown insurance: Breakdowns are as unpredictable as they come. They hit taxi drivers especially hard seeing as your car is your livelihood. With taxi breakdown cover, you can be back on the road in no time. If repairs to the car can’t be made at roadside, recovery agents will get you to a local garage to undergo repairs.
- Excess protection: Excess protection simply covers you for excess amounts if you are hit by an uninsured driver. It will also cover you for if you are at fault.
- Public liability insurance: Liability insurance protects you against claims from the public in the event of an accident.
- Taxi Fleet Insurance: If you need to insure more than 1 taxi, it may be worth you taking out taxi fleet insurance.
Cheap Private Hire Taxi Cover
Being able to gain a cheap private hire taxi insurance policy is not always easy. Accepting the fact that taxi drivers do more miles than regular drivers means that premiums are obviously going to be a little higher.
However, there are a few things you can do to help reduce the cost of your taxi insurance premium.
Reducing the cost of your insurance
Drive safely and avoid convictions. This may seem obvious, but many taxi drivers throw caution to the wind when it comes to driving and rack up penalty points before they change their ways. These points cost a lot when it comes to taxi cover. Drive legally and lawfully and your premiums will stay lower.
Avoid Claiming. If it is not essential that you claim, then it is suggested you don’t. Claims on your policy will cost a lot more in the long run. Sure, it is annoying to scuff your bumper heavily but if you can cover the cost of the repair to your taxi yourself, then in the long run it will probably work out cheaper. When you have a good no claims bonus, your policies can start to become really competitive and much cheaper.
Choose a sensibly priced car. Cheap vehicles used for private taxi driving don’t always mean cheap policies. That is not to say buy the most expensive car available though. By purchasing and using a sensibly priced car such as a Toyota Prius or Ford Mondeo for instance will see you benefit from a much better premium.
Compare Private Hire Taxi Cover. Comparing quotes is essential is you are to find a cheap or competitive policy. It is a basic and simple process that is often overlooked. By comparing your insurance, you can find different policies at different prices and make an informed decision as to what policy you would like to opt for.
Why Choose Us?
Total taxi insurance has undergone years of refinement and client-relations building to fully eliminate the stress of searching for a new private hire insurance at the lowest prices.
We have built up relations with a large number of insurance brokers over a multitude of years who work with a large panel of insurers. Working with insurance specialists like this means that not only can we find you a broker that can tailor a policy to your specific needs, but we can also find a broker that can do it at the most competitive price on the marketplace.
As well as this, our vetting system is extremely straightforward and easy, and our customer care team have decades of experience.
The private hire brokers we connect you with are authorised and regulated by the financial conduct authority to ensure you are looked after the best way possible.