Every day there are, unfortunately, many car accidents on UK roads. It figures that a certain amount of these will include taxis. As a taxi driver, and if, for example, you are an Uber driver; you need to make sure that your car and those passengers who you have in your care are properly insured.
If you are not properly insured, you may face legal actions from passengers who have been injured or harmed while driving in, entering or leaving your taxi. You may be found liable for any material cost or injury your passenger has suffered. This can be a very costly affair, but luckily proper coverage can save you from a lot of financial damage. Furthermore, it is a legal requirement to have valid taxi insurance if you drive a cab for a living. As a rule of thumb, as soon as you have a paying customer, you need to think about taxi insurance.
Keep in mind that the need for having the correct taxi insurance coverage applies for both public hire, and private hire as well as if you are driving a minibus.
What should I look for in UK taxi insurance?
It is worthwhile to make sure that you have the right coverage and for the correct period of time. You’ll find that short-term taxi insurance might be the best option, and is cheaper, if you work part-time.
As a rule of thumb, taxi insurance has three levels: fully comprehensive; third party, fire and theft; and third party only cover. On top of that, you might choose to add specific elements to your taxi insurance policy. This could include personal use cover, if you also use your car when you are not working. Breakdown cover makes sure that you are provided with roadside assistance. Unlimited mileage is a good option if you drive large distances on an annual basis. The legal cover makes sure you do not run into unforeseen expenses in case someone makes a claim against you following an accident. It might also be worth considering if you want to have a Named driver cover or Any driver cover; the difference is that the first one covers the taxi driver only, while the latter covers any driver of your cab.
It is worthwhile to do some research on what the various brokers have to offer. You can read more about different types of car insurance coverage right here. Once you’ve done your research, luckily, it is super easy to sign up for the right insurance.
Can I get by with private car insurance?
Some might be tempted to, or unknowingly, take out a sub-standard taxi cover or to try to “get by” with a private care policy. Not only will you be breaking the law if you insure your car with private car insurance, but you use the vehicle for a taxi; the worst case scenario could be a jail sentence, while others have been found to lose their license and/or be fined. Therefore, it is highly recommended to do some research and find coverage that suits your needs. With companies like Zego taxi insurance, you can even choose from 30-day or annual policies depending on what suits your situation.
I am an Uber driver- what do I need to know about Taxi insurance?
As an Uber driver, you’ll need the “Hire and reward insurance”, aka. Commercial private hire insurance. Additionally, you’ll need public liability insurance. Public liability insurance covers you in case members of the public make out claims against you, while private hire insurance covers your vehicle. Remember also to take out personal motor insurance (Social, Domestic & Pleasure) insurance.
Taxi Insurance Tips For new drivers:
https://skintdad.co.uk/private-hire-driver-insurance/
https://www.talk-business.co.uk/2022/12/02/taxi-insurance-tips-for-new-drivers/
https://insurancenoon.com/what-is-private-hire-insurance-and-who-needs-it/
