3) Do I need public liability cover?
You don't have to hold public liability insurance, but we strongly recommend it. Whilst it is not a legal requirement, you may find that many authorities do insist that any licensed taxi driver operating in their area holds it as part of their licensing agreement. Speak to your local authority to find out if it is something you need to have.
It's also worth bearing in mind that with the culture of no-win, no-fee legal support it is very easy for someone to bring a claim against you. Even if you are not found liable, it can be very expensive and traumatic to get to that point. With public liability insurance, you'll have access to legal advice and support with no surprise bills to worry about.
4) What factors can make my policy more expensive or cheaper?
As with any other type of insurance, several factors influence the cost of your cover. These include your age, driving experience, and claims history. Bear in mind that your claims history includes any claims made on your own personal motor insurance. The type of vehicle you want to insure, your location, and the nature of your business can also influence costs. For example, if you have a luxury vehicle this is likely to cost more than insuring a more standard model.
You may find it difficult or expensive to get a comprehensive taxi insurance package if you are under 25 years old. If you have convictions or a history of previous claims it can also be trickier to find an insurance company willing to take you on. That does not mean it's impossible, so speak to your insurance broker for advice.
Taxi insurance FAQs number 5) I have a fleet of taxis. Can you insure all of my vehicles?
At Park Insurance we can offer comprehensive taxi insurance to both individuals and large companies. We help UK operators running everything from one or two vehicles to a large fleet to get affordable cover. If you do have three or more vehicles, you can save a considerable amount when compared to insuring each vehicle individually.
6) I share a Black Cab with a business partner. Can you provide me with insurance?
The cost of buying and running a Hackney carriage can be high, especially if you are just starting in the trade. We are often approached by Black Cab drivers who 'share' a vehicle. For example, one driver covers the day shift while the second driver covers the night shift, using the same vehicle. We can arrange for insurance that will give you the cover you need, whether you own the vehicle outright or part-own it with a business partner.