Anyone that drives a taxi will know how important having adequate insurance can be. Because of the sheer amount of hours spent on the road accidents can and do happen, and it’s only by having taxi insurance in place that you can be sure that your interests are well and truly protected.
But, taxi insurance can often be difficult to source. It goes without saying that you need a higher level of cover than you do with regular car insurance, and because it’s so specialised not all insurers will be able to give you what you need. There are, however, plenty of specialist taxi insurance firms out there, and if you spend the time to do your research you’ll have no problem finding what you need.
That’s probably the most important thing to remember research. Every company will be able to offer slightly different policies, so if you want to make sure that you’re getting the best cover you need to compare several options. You can do this the old fashioned way or you can consult comparison sites, but either way comparisons can be invaluable in helping you make the right decision.
Always look for the most comprehensive level of cover that you can. No matter what type of taxi you run, whether it’s a private hire or black cab, you should look for adequate cover to meet your needs.
But, remember that insurance isn’t just there to help you out financially it is also a legal requirement. All taxis have to be fully insured before they can operate legally, and failing to do so can lead to severe consequences. Not only will you lose your livelihood but you will be fined and could even face a jail sentence, so it makes sense to be completely covered.
You may also need to be prepared to spend slightly more than you would on insurance for private vehicles. Taxis are deemed as high-risk because of the amount of time that they’re in use, and because of that accidents are deemed as being more likely. Insurers will account for this by asking for higher premiums, but there are things you can do to reduce them. Look for companies that can offer generous joining or no claims discounts, for example, or consider increasing your excess instead.
So, never underestimate the importance of taxi insurance. As long as you understand the implications and look for the best level of cover that you can then you shouldn’t need to worry. In most cases there’ll be some options out there to cover you.
Why not get a quote online and see if you can save.
What does UK Taxi Insurance cover?
Owners and operators of public and private taxis can compare quotes online and find the cheap cover for specific taxi operations, e.g.:
1. Taxi insurance
2. Black cab insurance
3. Fleet taxi insurance
4. Private hire taxi insurance
5. Public hire taxi insurance
6. Chauffeur insurance
7. Minibus insurance
Couple of significant questions in Taxi insurance quote form:
Required Start Date Of Cover
Level Of Cover Required
Taxi No Claims Bonus
Private Car No Claims Bonus
Accidents/Losses in last 5 years
Convictions in last 5 years
Types of Taxi Insurance
Saving money on taxi insurance
Pay annually – Insurance providers will always prefer, if you pay for your policy annually rather than monthly installments and in many cases they will offer you a significant discount when you choose to do this. Depending on how you’re willing to pay, this one method alone can save you a lot of money.
Secure your taxi – Making your taxi as secure as possible is essential. Insurance providers will certainly want to know how secure your taxi is before they give you a price so you should take every measure you can to cut down on the risk of theft or your taxi or its contents.
Be picky with your Driver – If you employ someone to drive your taxi and insure your vehicles yourself, one of the ways to save on your insurance is to be very selective with the drivers you employ. When insurance providers are calculating the cost a policy the driving history and experience of the driver is one of the main factors taken into account so by only employing experienced drivers with a clean licence you can go a long way to saving on your policy.
Get Multiple Quotes – This is one of the best and most reliable ways to save on your taxi insurance. The prices you’re quoted can vary a lot so the only way of knowing if you’re getting a good deal. We made it simple to get quotes from many different taxi insurance providers. Get taxi insurance quotes online click the simple red button below.