It’s Taxi Time
The past year has been hard on everyone. Unexpected, last minute changes and work commitments completely turned upside down. No one knows this better than taxi drivers, who have been stumbled in a world, full of people reluctant to travel and use transport. But not anymore. With the UK opening up again, it is more important than ever that you make sure you are covered on the roads. Finally, people will be ready to take a sightseeing trip or go out for dinner and when they are, you’ll be there, waiting.
What is taxi insurance?
Whether you are a seasoned cabbie, or are new to the trade, you need to make sure you have insurance for your car.
Taxi insurance is a little different from the traditional motor policy. Although they essentially offer the same thing, you will not be covered to carry people under a standard policy.
Public Hire Taxi Insurance will cover the taxis that may be found at a taxi rank or hailed on the street. You may also notice the sign on top, signalling its taxi status. To find out more about the difference between public and private hire, click here.
How much will it cost?
A good question. There is also no one answer. The cost will entirely depend on the size and engine of your vehicle, alongside other factors.
These other factors are similar to the considerations made when organising regular insurance. For example, your driving and claims history, where the vehicle is kept overnight and your postcode are all likely to come into it when you are offered a quote.
However, taxi insurance is often considered to be more expensive than regular insurance. This is because of the hours spent behind the wheel, the increased number of passengers and the large size of taxis.
Again, there is no one-size-fits-all with taxis just like with other cars. Each individual insurer will provide you with a different answer.
How do I drive down the prices?
Good news, you’re in the right place!
Quote the Market are a comparison website, specialising in taxis so look no further!
We will get the best quotes from a panel of insurers and brokers so you can get the best price possible!
From your end, having a clean claims history and a sizeable NCB can be helpful. This will show insurers that you are responsible on the roads and are less of a risk to them.
Security measures such as a tracker or immobiliser will help to reassure insurers that your vehicle does not pose much of a risk of theft. Therefore, they are likely to offer you a more competitive price.
What levels of cover can I get?
As with standard car insurance, there are three options for you to choose from. These are:
Third party; this is the lowest level of cover available in the UK and a legal requirement. It will protect the other driver in the event of an accident, though will not pay towards the repair of your own vehicle.
Third party, fire and theft; much as the name suggests, this will cover the same as third party, with fire damage or theft also being covered.
Comprehensive; this will cover the costs of damages to your car and is the highest level of cover available to you.
Can I get taxi insurance?
In order to become a taxi driver, you must have at least 12 months driving experience under your belt, even more if you are in London.
You must also have a taxi driver’s licence to drive a cab, much like you need a driver’s licence to drive a car.
Are there any optional extras?
There certainly are!
Different insurers will offer different perks, so it is always best to check first.
Examples of what you might be offered include legal protection, breakdown cover, public liability or unlimited mileage.
It is best to think about which add-ons may be useful to you before doing a quote, so you don’t get caught out later on.
As a comparison site specialising in taxi insurance, we can find the best prices from across some of the country’s top providers. We offer an online quotation service so you can find the best prices in minutes. Visit our website for more details.
