As a taxi driver you will be covering a lot more mileage than the average commuter, driving for longer periods and at more unsociable hours. This leads to a higher chance of being involved in an accident so it’s essential you’re fully covered, whether working individually or for a firm.
Studies have shown that more experienced drivers and those who use their own vehicles are less likely to be involved in accidents. However your car is more than just a vehicle, it is your livelihood, and having an accident without the full cover could lead to an end to them both.
Public vs Private Hire.
There is a different level of risk attached to private and public taxi hire. Private hire taxis must be pre-booked, can’t display a taxi sign or be flagged down. This mostly makes them cheaper to insure but often they use older vehicles which can push the price up.
Public hire taxis present more of a risk because they can be flagged down by anyone, which sometimes results in them stopping in dangerous places. However, they are often far newer vehicles with older, more experienced drivers which makes the insurance more affordable. As with normal vehicle insurance, minibus taxis and larger cars will have higher premiums.
Insuring a Fleet.
No matter how big it is, if you run a fleet of taxis it is imperative each and every one of them is fully insured. Just one small accident could see a range of avoidable problems appear at your door.
Use a taxi insurance expert which provides a tailored package for your fleet. Whether your firm includes private and/or public hire taxis, minicabs and other large vehicles, the best deal will be worked out. Insuring as a fleet rather than on an individual basis will work out much cheaper too.
Essential Extras.
Getting the correct insurance policy is essential, especially after Uber came under fire for not protecting their drivers properly. Taking out the cheapest policies can leave you and your drivers exposed so it’s worth considering and adding on some of the extras offered.
Breakdown cover is useful for most taxis, especially as they’ll be driven more often and further than regular cars so are more susceptible to problems. Mentioning pass plus certificates could bring the price down, while adding in policy amendments to cover theft will be handy, especially when the vehicles aren’t all locked away in a garage at night.
