Car Insurance for Taxi Drivers
Usually the price for taxi insurance is a lot more than that of a private car insurance policy. Taxis are perceived to be a higher risk at being involved in an accident and therefore obtaining cheap taxi insurance policy is a challenge. When you get your taxi renewal quotation from your existing insurer it is best to spend some time to shop around for a cheaper taxi car insurance policy.
To use your car for hire and reward purposes you must have the correct legal cover in force. A taxi insurance policy will protect you and your passengers for against legal liabilities in the unfortunate event of an accident occurring. Not all offer the same level of cover so it is wise to find out what the cover entails. For example do you get legal expenses policy, taxi breakdown assistance and a replacement car in the event of an accident?
How to get cheap taxi insurance?
Taxi insurance falls under two main categories:
Public Hire – Customers are able to hail this type of cab on the street. These vehicles are usually known as hackney carriages or black cabs.
Private Hire – Customers have to pre-book the cabs and a journey is pre-arranged.
An important point to remember is that new taxi schemes are always emerging and shopping around for new quotes is an excellent way of obtaining cheap taxi insurance policy. By calling specialists taxi insurance brokers is probably your best chance of finding a cheaper quote as these companies will usually have the best deals.
If you have 3 or more taxi cars it is worth considering a taxi fleet insurance policy. Not only can this save you money but it will also ease the administration with only a single renewal date. Most taxi fleet policies are flexible and allow a mixture of vehicles such as minicabs and black cabs.
