It doesn’t have to be hard to find the best taxi insurance
There are different types of taxi insurance to suit different people and their businesses, so it is important that you consider what is available and find the best taxi insurance for you. Although there is a lot to choose from, a little research should provide you with the insight you require. Here are some top things to think about when trying to find the best tax insurance.
There are two main types of taxi insurance in the UK, private hire and public hire. The difference between these two is that public hire allows the driver to do immediate pickups from the street i.e. a black cab. Private hire taxis are only allowed to pick up people who have made an arranged appointment from a specific pick up point.
Drivers
Taxi insurance is usually available as either an ‘insured only’ or ‘named driver’ policy as this helps keep the cost of the annual premium down, but if you require more than one driver there are ‘any driver’ policies available. Driving a taxi is usually restricted to those over the age of 25, as most insurance providers will refuse to cover anyone younger, but you should check with the insurer if this is something you require.
Vehicle
There are a number of different vehicles that can be used as taxi cabs, and finding the best taxi insurance for you will depend on which you use. Saloon or estate cars are very popular as they can carry four passengers and provide adequate luggage space, but minibuses and Multi Purpose Vehicles can be used for larger parties. In some instances, you might consider an executive car, but it is more likely that the best insurance would be designed for a chauffeur.
Coverage
As with all motor insurance, UK taxi insurance is available as a third party only policy; third party, fire & theft; and comprehensive. The best taxi insurance will always be comprehensive as this is able to provide you with the most cover against associated risks.
Discounts
If you find the best taxi insurance for you, it shouldn’t be too expensive, but you can usually reduce the cost of your premium if you have a good driving record and have gained no claims bonus years, or are a driver from a different company.