What is the Difference between Public and Private Hire Taxi Insurance?

When it comes to Taxi Insurance, there are two separate categories to which you may hold a licence. These are private hire vehicles and public hire vehicles.

A public hire vehicle isa taxi that is licenced as a hackney carriage and may be flagged down at theside of the road. These vehicles are typically cabs and do not need pre-booking.

A private hire vehicleis more common and often takes the shape of a typical car. Private hire taxi’smust be pre-booked and cannot be flagged down at the side of the road. Uber isa typical form of a private hire taxi.

Both Private Hire Taxi Insurance and Public Hire Taxi Insurance include a level of Hire and Reward cover. Hire and Reward cover is what allows you to carry members of the public and their belongings for a fee.

Once insured, yourlicencing authority will require a copy of your insurance certificate. It isimportant that when applying for your licence to your local authority, that youapply for the correct type of licence.

Which is more expensive?

Typically speaking,public hire insurance is more expensive. The reason for this being that publichire taxi drivers rely on being in the right place at the right time to beflagged down on the road. As such, they need to operate in busier areas such ascity centres and busy towns.

– Statistically,drivers who operate in busy built up areas are more likely be involved in anaccident, especially where quick lane changing to pick us a passenger isrequired.

– Public cab driversare also more likely to pick up a rogue passenger who could potentially damagetheir taxi. Instances of this may be picking up someone drunk from a night out.

– Public Hire Driversoften carry a large level of cash and therefore more likely to have both t theirvehicle or their money targeted and stolen.

Whichever type of policyyou require, we can help you find and compare prices.