Minicab Insurance

If you are a mini cab owner, you will need to have adequate insurance cover in place, similar to car insurance but specialist mini cab insurance.

Why should mini cabs be insured?
Mini cabs are often targeted by thieves because they get paid mostly by cash. This can be an extremely upsetting time and other valuables can also be stolen. In the past mini cab drivers have been robbed for money, jewellery, satellite navigation systems, mobile phones and other items. If a mini cab firm deals with mostly the higher class society providing luxury vehicles, they can also be targeted as well as the passengers they carry. Mini cabs are also targeted by yobs who love nothing more than to stir up trouble and going for a joy ride. In some cases mini cabs can be completely destroyed by thugs setting it alight and in other cases they can have some minor damage such as scratches and small dents. In very rare occasions have mini cabs been stolen for use in fraudulent activities such as robberies and hit and run, but it is possible.

Just like cars, the level of protection available for mini cabs are the same i.e. third party only, third party, fire and theft and also fully comprehensive insurance. Due to the fact that mini cab drivers solely rely on passengers to book them for their travel needs the chances of driver liability are higher so insurance premiums are generally more than standard vehicles. When an insurer quotes you, they will do a risk assessment. They take into account mini cabs will do triple the national mileage average and will drive all hours of the day with a lot of time spent in traffic. Accidents are most likely to happen during peak hours and this is when mini cabs are most needed to help clients get from A to B.

There are now many taxi brokers that promise to get you a good fair deal but as we all know brokers will add a small fee for their services. It’s best to contact at least 5 different mini cab insurance companies that specialise in this area of motoring. Premiums are likely to be lower and customer service will be better as they deal with mini cabs day to day. Going with a mini cab insurance company will also ensure that all claims are handled quickly and with expert knowledge as they have built a reputation in this field. Remember that your taxi or black cab is your way of earning a living and you should do everything in your power to make sure that your mini cab is adequately covered for unforseen circumstances.