Taxi Insurance
As you are probably aware all vehicles in the UK must be insured before being driven on Britain's roads. Taxis are no exception, taxi insurance is a legal requirement. In fact in addition to regular vehicle insurance, taxis must be insured for the "carriage of persons for hire or reward."
There are a couple of different types of taxi service that need to be taken into consideration:
Private Hire; this requires that the journey is arranged via a taxi office prior to the journey starting.
Public Hire; this allows anyone to hail the cab and be picked up anywhere at the side of the road - as per the black cabs in London.
There are many different taxi insurance products available to meet differing needs, including
- Taxi private hire and Minicab insurance
- Taxi public hire insurance
- London black cab insurance
- Hackney cab insurance
- Minibus insurance
- MPV/People carrier insurance
- Chauffer insurance
Many providers offer the option to get an online taxi insurance quote and buy the cover there and then.
All councils and taxi licence issuing authorities will require documents as proof of insurance before assigning any taxi licence plate to a vehicle to allow it to be used for public or private hire.
As with standard car insurance there are options available as to the level of taxi insurance you take out, from Third Party, Third Party Fire and Theft or comprehensive cover.
In addition to the regular vehicle insurance cover taxi insurance also covers drivers or firms against more specific events related to taxis, these can vary depending on the policy and can include:
- Public Liability - This covers against accidental damage or injury caused to passengers or their property.
- Business Interruption Insurance - This will cover against the loss of turnover or trading profits should any damage to property occur that prevents the normal operation of the taxi or taxi firm
- Money insurance - This can cover against the loss or theft of monies from taxis.
Taxi insurance cover can vary depending on the insurer it is wise to ensure that the cover being offered is adequately suited to your specific circumstances.
