Taxi Insurance

Of course all vehicles on a public highway in the UK need to be insured. Taxis are no exception; in fact they need to have completely different insurance policies because they carry members of the public in return for payment. To apply for insurance, taxis and their drivers must be licensed by the appropriate authorities, e.g. the local council in which the taxi operates. All types of taxi can be insured: – minicabs, black cabs, private hire cabs, and public hire ones, but they all need specific types of cover.

There are two types of taxi insurance in the UK; private hire, usually minicabs operating from a taxi office which pick up passengers at a time and place that has been prearranged, and public hire insurance for taxis such as black cabs which can be hailed on the street.

If you decide to go for a quote online, you will be asked some questions and depending on your answers, you can be given a quote and pat online if you accept it. However you should take some time to read the documents you are presented with very carefully before accepting any quote.

Some insurance companies would prefer you to phone and get a quote so that ny policy would be tailored to suit your needs. For example, if you have a clean driving record in your own vehicle and are a new taxi driver, you can benefit from your previous clean record. If you have held a taxi badge for 12 months, then you also qualify for a discount on the premium you will have to pay. There are also discounts available for drivers who have previously been employed as company drivers.

There are several types of taxi insurance which are the same as for other vehicles – Comprehensive, Third Party Fire and Theft and Third Party only. Remember that third party insurance does not cover you or your car. Some insurers will offer you a policy which guarantees you a replacement taxi in case you have an accident and your taxi is off the road for any period of time.

To be sure you get the best deal out there, talk to other taxi drivers and ask who they are insured with, and how much their premiums are. Are they satisfied with the level of cover they have? Then go online and see what is on offer, and ring up insurers who seem to be offering the best quotes to see if they can give you extra discounts. Find insurers that specialise in taxi insurance, so you know that you are dealing with experts in the field.

Finally, check the small print very carefully and if you don’t understand anything at all, ask questions and clarify your doubts. There are people who can help you with this, for example, your Citizen’s Advice Bureau. Don’t be afraid to ask for help with the small print as well. You don’t want to have to pay for hidden extras, and it’s better to be safe than sorry.