Insuring your PHV or black taxi will cost you more than regular car insurance regardless of whether you drive a saloon taxi, a hackney carriage, a people carrier or a minibus.
That’s because taxi drivers spend more time on the road, are more likely to drive at night, and are more likely to work in densely populated areas, insurance firms have determined that taxi drivers are more likely to cause traffic accidents than regular car drivers.
All the more reason to shop around for the best deal on your insurance policy.
A taxi insurance policy provides a level of insurance coverage for your vehicle, your passengers and yourself. The car that you drive is your livelihood as a taxi driver, so comprehensive insurance is fundamental to protecting it.
A taxi licence and insurance is a legal requirement for anyone who drives any type of vehicle for the purpose of commercially transporting people.
Public and private hire vehicles like hackney carriages are covered under taxi insurance policies, as well as private hire cars. In addition to MPVs and minibuses, we provide business insurance for chauffeurs, wedding car drivers, and school children’s buses. It’s worth noting that taxi insurance policies are not all the same – For example, you can choose to be insured for third party and fire and theft, or for full comprehensive coverage.
Your quotes will be ready in no time, we just need a few details.1. What kind of cab do you have?
You should include your contact information as well as information about your taxi – its value and mileage, for example.
2. How you use your taxi
It’s vital that we know whether you’re a commercial or private hire cab, and who your license granting body is. Plus whether you need to add any other drivers.
3. Any changes in security and/or modifications
The kind of adaptations that passengers with disabilities may need, such as ramps. Security devices such as CCTVs, alarms, and trackers that are Thatcham-approved might even get you a better quote.
In a black cab or purpose-built taxi, you’ll need to purchase public hire insurance if you’re picking up customers from the street.
A private hire policy only covers appointments made in advance from a selected pickup point, such as airport pickups or minicabs.
If your policy covers this, yes. It's best to double check your policy before doing so.
It might not be possible for your partner to drive your vehicle if that person isn't also a taxi driver.
The reason for this is that some licensing authorities will not permit people without a taxi licence to drive a vehicle registered for private or public hire, even if the vehicle is solely for social purposes.
A comprehensive insurance policy will reimburse you for the market value of your vehicle. The amount you receive depends on how often you drive.
You might be able to replace your vehicle with something similar to what it was when you bought it if you have a gap insurance policy taken out before you rack up all those business miles.
In this case, there may be an administrative fee and a cost to your policy if you wish to cancel.
If you think it will be likely that you will be changing or canceling your policy mid-term, it's a good idea to find out whether you'll have to pay any admin fees before you sign up to the coverage.