Getting the right kind of taxi insurance in the UK is crucial if you want to run a successful business. From one-man operations to fleets of taxis, insurance is a key element of your business considerations. So here are a few of the most commonly asked questions we come across at Park Insurance when clients speak to us about taxi insurance in the UK.
Do I really need taxi insurance?
If you want to operate as a licensed mini cab or Hackney (Black) cab, you will need to have taxi insurance cover. This includes everyone from one-man businesses to large fleets of licensed taxis, anywhere in the UK.
Do public and private hire taxis need different insurance cover?
Fundamentally, both private hire providers (such as pre-order mini cabs, executive hire and any pre-booking service) and public hire vehicles such as Hackney Cabs require the same type of insurance, in particular public liability cover. Both groups will also need specialist motor cover that includes business use of the vehicle or vehicles.
What factors are going to have an effect on my policy costs?
As with any other type of insurance, a number of factors may influence the cost of your cover, including your age, driving experience and history (including any claims made on your own personal motor insurance), the type of vehicle, your location and the nature of your business.
You may find it difficult to get a comprehensive taxi insurance package if you are under 25 years old, or have convictions or a history of previous claims. And because of the nature of taxi insurance, UK providers can also be reluctant to offer any really substantial discounts for no claims bonuses.
Do I need public liability cover?
At Park Insurance we strongly recommend that you include public liability cover as part of your taxi insurance. It’s not a legal requirement, but you may find that many authorities insist that any licensed taxi driver operating in their area has to have public liability insurance as part of their licensing agreement.
I have a fleet of taxis. Can you insure all of my vehicles?
At Park Insurance we can offer both individuals and companies comprehensive taxi insurance. UK operators running everything from one or two vehicles to a large fleet will be able to get affordable cover that could save them a considerable amount when compared to insuring each vehicle individually.
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 out in the trade. We are often approached by Black Cab drivers who ‘share’ a vehicle (for example, one driver covering 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.
What add-ons are available as part of my package?
We tailor-make every taxi insurance package for each individual customer, so whether you’re a solo operator or are running a fleet of vehicles, we can help. Your cover can include almost anything you want, including specialist vehicle cover, public liability insurance, employer’s liability cover for fleet managers, breakdown cover and personal injury insurance. Our impartial advisers will help you pick the right options to create a bespoke portfolio of cover that protects you, your vehicle, your customers and your business.
What licensing requirements are needed to get taxi insurance?
Some insurance providers may need to see proof of your licensing agreement with your local administrative authority or council or, if you are a Hackney Carriage operator, your badge number. Fleet operators will often need to supply proof of a current licensing agreement to get insurance.
Find out more about our specialist taxi insurance policies by calling 0117 955 6835 now.
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