What does taxi driver Gap insurance cover?
There are several different types of gap insurance for taxi drivers, including vehicle replacement insurance, finance gap cover and, for fleet managers, lease car gap insurance. The type of policy you choose will depend on your business model, whether you’re a solo operator, manage a fleet, or are sub-contracted as a hire & reward driver.
Gap cover is typically purchased alongside your main taxi insurance policy to provide additional financial protection. Other insurance to include in your package might be:
Benefits of having Gap insurance as a taxi driver
The biggest advantage of gap insurance is financial stability. If you lose your vehicle through an accident or theft, insurance helps to cover the difference between your insurance payout and the value of your taxi when you purchased it. It can also cover the remaining balance on any finance agreement, so you’re not paying for a vehicle you no longer have.
This can help reduce financial disruption and support a quicker return to work.
Can I buy a Gap policy at any time?
Gap cover is usually purchased shortly after buying your vehicle, although eligibility criteria vary by provider. Your advisor can confirm what options are available.
Talk to Park Insurance for your taxi driver Gap insurance
Let Park Insurance help you find out by contacting our expert team for friendly, impartial advice. Our position as preferred brokers to many of the UK's top insurance providers means we can source taxi driver cover that fits your business and budget. With over 30 years’ experience as brokers, we have the expertise, the contacts, and the know-how to help you find suitable cover tailored to your exact needs, with no unnecessary extras.
Call us today for more information or use our online Get a Quote form for a free, no-obligation quote.