When you drive a taxi for a living, whether it's a minicab, black cab or any other type of vehicle, it's essential that you get a good insurance policy that will cover you for all the risks you face on the road. A good taxi insurance policy will not only provide protection for collisions but also other risks such as theft and breakdowns.
If you're looking for a taxi insurance policy at an affordable rate then the good news is that it's now easier than ever to get quotes for taxi insurance. Before you get your quotes though, it's a good idea to read through the information below so you are aware of the different types of cover that are available and are therefore able to make a fully informed decision.
Types of Taxi Insurance
There are two main types of taxi insurance available – private hire and public hire. Below is an explanation of each.
- Public hire – Public hire taxis can be hailed from the street and booked in advance. They can also display a 'taxi' sign on the vehicle. Public hire taxis typically cost more to insure since the risks are greater.
- Private hire – Private hire taxis can only be pre-booked in advance and cannot display a 'taxi' sign on the outside of the vehicle. Because the risks are lower with private hire taxis, they usually cost less to insure.
- Third party – Third party insurance will enable you to drive your taxi legally. As the name suggests, it only covers third parties for accidents that you're liable for. Whilst the protection for your own vehicle is minimal, third party cover does provide a very affordable option for insuring your taxi.
- Comprehensive – A comprehensive policy will provide full cover for all types of collisions, even those that you're liable for. Comprehensive insurance is always recommended for taxi drivers as it provides you with the best level of cover possible and usually includes fire and theft as standard.
- Public liability – It's a legal requirement for taxi drivers to have public liability insurance. It will provide cover for any liability claims you might face as a result of negligence on your part. Liability claims are at an all-time high so having public liability insurance is vital.
- Breakdown assistance – When you make your living from your vehicle, having reliable breakdown assistance is an absolute must. Most insurance providers will be able to offer breakdown assistance as part of your policy for a very competitive price so even if you already have cover in place, it's still worth enquiring about it as you might be able to save a good deal of money.
- Personal injury – It's an unfortunate reality that driving a taxi for a living can be hazardous. There's always the possibility of dealing with drunk or belligerent passengers. If you were to be injured or suffer mental trauma whilst on the job then personal injury insurance would compensate you.
- Loss of licence – If you were to lose your licence for a period of time and were unable to work, this type of cover would provide compensation until your licence was reinstated. This is of course a hugely beneficial type of cover to get and whilst you might not think you'd need it now, if you found yourself in such a situation you'll be extremely glad you have it.
- Windscreen and glass repair – Another useful type of additional cover is windscreen and glass repair. Repairing racked windows can be fairly costly so it's always useful to have it covered in your policy.
The Benefits of Taxi Insurance
There are many benefits that come with getting your insurance through an online provider. These include -
- A highly customised policy
- Save time
- Save money
- Expert advice
- Easy claims process
- Instant documentation
- Flexible payment methods
Another key benefit of getting taxi insurance online is that it's a lot easier to obtain quotes. This is always useful as getting multiple quotes is one of the best ways to save money.
Ways to Save Money
- Pay annually – As with most things nowadays, the more you pay upfront, the less you'll pay overall. This applies to insurance policies too so if you're able to pay for your policy annually rather than monthly, it's a great way to save in the long run.
- Secure your vehicle – Insurance providers will take into account how secure your vehicle is when providing you with a quote so you should take every step you can to make it secure. This means having an alarm and central locking as well as parking your vehicle securely.
- Get multiple quotes – Getting multiple quotes is easily the most reliable way to save money on taxi insurance. By getting a lot of quotes from different insurance providers, you'll know exactly how good a deal you're offered is.
Getting Quotes is Easy
Since getting multiple quotes is one of the best ways to save money on taxi insurance, it makes sense to do it in the easiest way possible. The old fashioned way to get quotes would be to call different insurance providers individually. Whilst there are some benefits to this such as being able to have your questions answered immediately, it's also very time consuming and you'll often be given the hard sell.
Luckily there's a much easier option and this is getting your quotes online. When getting your quotes online, you avoid the time and headache associated with contacting separate insurance providers yourself. By clicking the red button below you can get get quotes from a panel of taxi insurance specialists. All you have to do is provide a little bit of information about your insurance needs and you'll then have access to your quotes. It's that easy!