Private Hire Insurance

What is covered?

Like standard motor vehicle insurance, private hire vehicle insurance can be taken out at three different levels:

1. Third-party only – this is the lowest level of cover you can select, dealing only with third-party claims.
2. Third-party, fire, and theft—this also covers losses associated with your taxi being stolen or damaged by fire.
3. Comprehensive – offers the greatest peace of mind, covering third-party claims, fire, theft, and damages to your taxi and personal injury.

What is covered?

Like standard motor vehicle insurance, private hire vehicle insurance can be taken out at three different levels:

1. Third-party only – this is the lowest level of cover you can select, dealing only with third-party claims.
2. Third-party, fire, and theft—this also covers losses associated with your taxi being stolen or damaged by fire.
3. Comprehensive – offers the greatest peace of mind, covering third-party claims, fire, theft, and damages to your taxi and personal injury.

Private hire car insurance policies can also be tailored to offer protection, such as:

• Breakdown cover – to get your taxi back on the road and earning money as quickly as possible.
• Replacement vehicle – to ensure you don’t have to stop working when you’re without your own PHV.
• Public liability cover – to deal with claims for injury and property damage made by members of the public attributable to your work as a PHV driver.
• Personal accident cover – which offers a financial safety net if an injury or illness leaves you unable to drive for a prolonged period.
• Gap insurance – which ensures if your taxi is stolen or written off, if there’s a shortfall between what you paid for it (or what you owe a leasing company) and what your policy pays out, you will be compensated for that “gap”.

If you own a fleet of PHVs and have employees, you will need employer’s liability cover and may like taxi office cover to protect your premises and contents.

FAQs

Are PHV and PCO insurance a legal requirement?

To drive a vehicle on the road, you need insurance. In the case of private hire vehicles, this insurance needs to be a specialist policy for a PHV or a PCO. Standard car policies will not cover a taxi.

What type of vehicles does it cover?

PHV and PCO insurance can cover cars, minicabs, black cabs, multi-purpose vehicles, and minibuses.

Park Insurance has over three decades of experience creating specialist motor cover. We can organise private hire vehicle insurance whether you work solo or have a fleet of taxis, so get in touch today and stay protected, whatever’s around the corner.