What is private hire taxi insurance?
If you hold a private hire taxi licence or a PCO licence in London, then you’re legally required to have insurance. This should cover your taxi and members of the public while you’re working. Private hire insurance provides the cover you need; it protects your vehicle if you’re involved in an accident on the road. What’s more, public liability insurance covers claims of alleged incidents involving passengers or members of the public while you’re working. Unlike some competitors, ChoiceQuote has access to a range of insurers. This means we can offer you competitively priced private hire taxi policies to meet your needs. We cover a wide range of taxi boroughs across the country. You’re also welcome to come into our offices in Manchester or Liverpool to take out or renew your cover. Speak to us for more details.
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What does private hire taxi insurance include?
You can cover your taxi or minicab on a third-party, third-party fire and theft, or comprehensive basis. This works in the same way as private car insurance.
With third-party only cover, you’ll need to pay for any damage to your own vehicle following an incident or accident. Any other vehicles involved in an accident may be able to claim on your insurance policy.
Third-party fire and theft cover
As the name suggests, this type of policy adds cover for fire damage and theft of your vehicle.
Comprehensive insurance covers all the above but adds potential repair or replacement costs for your vehicle, too.
Public liability insurance generally comes as standard with a private hire taxi policy. This covers any claims made by members of the public as a result of your taxi driving business.
Who needs private hire taxi insurance?
Any taxi drivers with a private hire taxi badge require this cover, whether issued by your local authority or the Public Carriage Office (PCO) in London. This also includes drivers of Uber vehicles.
Who can get private hire taxi insurance?
Anybody who has a private hire taxi badge will need this insurance before hitting the road. However, it’s not always that simple.
New taxi badge holders find it more difficult to get cheap taxi insurance, due to lack of experience. This can also be an issue for younger and older drivers.
ChoiceQuote covers private hire operators from the ages of 23 up to 75.
The more time you spend on the road, the more likely you are to pick up motoring convictions (such as speeding offences) or be involved in accidents. This is reflected in the price of your insurance premium. If you’re unlucky enough to have claims or convictions, you might find that cover isn’t always available – and where it is, it can be relatively expensive.
Thankfully, ChoiceQuote has access to insurers who can cover these risks, and offers repayment terms to spread the cost. This helps you stay on the road and carry out your job, safe in the knowledge that your insurance is there for you should you need it.
You can also add named drivers to a policy. Again, just give us a call or request a quote online to find out more.
What is the difference between private and public hire insurance?
Private hire drivers offer pre-booked services only. This allows you to pick up passengers who have already booked their journey, as opposed to passengers who hail down a cab on the street.
Public hire drivers can only pick up fares off the street, so can’t be pre-booked. This often includes taxis at railway stations and London black cabs, for example.
Unsure what type of taxi insurance you need? Give us a call and we’ll be happy to help you.
Can I save money on private hire insurance with ChoiceQuote?
We know how to find good value cover for our clients. Having more than 25 years’ experience of working with a range of insurers means we’re best placed to look after taxi drivers like you. This means offering you the right level of protection and keeping the costs down where possible.
Repayment plans help to spread the cost for anybody who can’t afford to pay all their insurance premium up-front.
You might also save money by installing telematics – including cameras – in your taxi. These can help you to show who is at fault in the event of a claim, speeding up the process for insurance companies and helping you to keep the cost of any claims in check.
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Frequently Asked Questions
How many taxis are required for fleet insurance?If you have 3 or more taxis, then fleet insurance is the best cover for you. This will cover your company’s vehicles without taking out multiple policies. If you rent your taxi vehicles to your drivers, they can also be covered as part of the taxi fleet policy, but they must be 25 years or older.
Do I need public hire taxi cover or private hire taxi cover?Private hire taxis are pre-booked and public hire taxis do not require a pre-booking.
Can I insure my taxi for personal use?If you’re a registered taxi driver, you can still use your vehicle for personal use. Rules can differ depending on your local council, so make sure you check in advance.
What types of vehicles will your taxi insurance cover?Our insurance covers a wide range of vehicles from saloons to executive cars.
Can I get cover today?Yes, if you need insurance today, you can buy immediate cover. You can make a payment by credit or debit card or if you choose to pay by Direct Debit, you can pay an initial deposit and then pay the remaining amount over monthly instalments.
How many drivers can I have on my policy?When you purchase single vehicle taxi insurance, you can insure up to 4 drivers on a ‘named drivers’ policy. Dependent on your insurer, you can cover any authorised driver, rather than all named drivers on your fleet.
What other policies do you offer?We know that you rely on your vehicle to make a living. In an unfortunate case of a breakdown, you will want to get back on the road as soon as possible. We offer breakdown cover in addition to your existing policy or as a new policy. Legal expenses cover is also available.