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What Is Taxi Insurance
Taxi Insurance also know as private hire insurance is to insure yourself, your vehicle and your passengers encase of an accident or injury. It is required by UK law that you are insured correctly. Taxi insurance is put into two types of categories, Private Hire Insurance And Public Hire Insurance. Public Hire Insurance is for Black cabs also known or Hackney Cabs and can be wavered down in the street. Private Hire Insurance is usually for Taxis that have to be pre booked by phone, website or an app like uber.
How Do Insurers Work Out The Cost Of Taxi Insurance?
Taxi Insurers look at a number of factors and risks when giving you a price for your taxi insurance. see below for some examples.
- The type of vehicle your drive: If you drive a high risk category vehicle which could be anything from a high performance car to something that has more than 5 seats it will increase the cost of your insurance. Choosing something more economical that has a lower engine size and restricted to 5 seats can save you money.
- How long you have been a taxi driver for: Taxi Insurance providers will always look at your driving experience. If you are new to taxi driving then expect your premiums to be higher than those who have more experience.
- The borough that you work in: Some areas of the UK are less risk than others. This could be due to a number of factors like accidents, theft of the vehicle, Malicious damage etc.
- where do you park your vehicle: If you park your vehicle when not working away from your house and out of sight this can cause your premiums to be more expensive. If you have a driveway or park your vehicle in sight, this can reduce the cost.
- Vehicle Modifications: If you modify your vehicle this will increase premiums whether its cosmetic or performance.
- Dashcams and Security: If you have a dashcam or other security features on your vehicle this will lower the cost of your taxi insurance.
- Excess: The lower your excess the more your insurance will cost. This is everyone preference but some people will have a higher excess to reduce costs.
What Other Insurance May Be Needed?
All Taxi Insurance providers will give you the minimum legal cover required to insure your vehicle so you can work. However their are additional covers available you may wish to consider.
- Breakdown Insurance: You may be out working one day or evening and find that your vehicle has broken down. As this is your business and source of income, having breakdown insurance can take away a lot of stress if it happens. This could include towing your car to your home or garage, side of road tyre changes or repairs.
- Public Liability: This will protect your passengers and other members of the public if you have an accident or injure another person as a result of your business.
- Legal Cover: If you were to have an accident or injure someone else you may have to defend your case in court if it wasn’t your fault or even if it was. This fees can lead to thousands of pounds.
Why Use Insure Me UK?
At Insure Me UK we have a range of Taxi Insurance Brokers who can cater for anyone including new Taxi drivers. They have some of the most Competitive rates on the market. Our Service is completely free to use so why not get a Taxi Insurance quote today.
Can I Use My Taxi Insurance For Personal Use?
Most if not all Taxi Insurance Providers give you the option to insure your vehicle for social and domestic pleasure. When speaking to our Insurance providers it is worth asking the question.
Frequently Asked Questions
Taxis can be used for personal use provided your insurer knows and has the cover in place for this type of driving. However, you cannot add your spouse or partner to the policy, they would need to be a registered taxi driver to do so.
When you’re comparing insurance for your vehicle, your home or your business, you always want to find the best insurance prices. As a taxi driver there are a number of situations that could occur that would result in you making an insurance claim. When trying to look for cheap taxi insurance, there are factors that could reduce the cost to you;
- Choose a low risk category vehicle, that’s one that is less expensive and / or has a less powerful engine.
- Improve driving experience and a clean driving record.
- You could take additional driver qualifications that may reduce your insurance premiums.
- Install safety trackers to your car to prove to your insurers that you drive safely.
- Increase your excess price.
- Pay annually for your taxi insurance.
- Have secure parking such as a driveway or a secure garage.
- Avoid vehicle modifications as these increase the vehicle cost and risk of theft.
Yes, the minimum age for taxi insurance or private hire insurance is 21 years old. This is the age you need to be to become licenced.
It is possible for a 19 year old to get taxi insurance but be sure to use a highly recommended provider to ensure the validity of the policy.
It’s quick and easy to sort out your taxi insurance with the help of Insure Me UK.
Simply fill out a two minute form and get a call from one of our insurance brokers who will match you with insurers. Their aim is to find you cheaper insurance prices and make sure you have the right protection whilst motoring.
You could save time and money by using Insure Me UK so get Your FREE Quote Today at www.insuremeuk.co.uk.
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