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If you are a Private Hire or Taxi driver you will need mini cab insurance or taxi insurance. We can compare taxi insurance quotes from specialist taxi insurance providers including Aviva, (formerly Norwich Union), RSA and Equity Insurance Group.
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Our specialist panel of taxi and minicab insurance companies includes:
Any vehicle being used as a taxi (also commonly know as a Hackney Carriage) or a private hire vehicle requires to be licensed by the local authority in which they operate. There are differences between the two In the case of taxis; they can be licensed to "ply for hire". This allows them to pick up passengers from either a designated taxi rank or from anywhere on the street. On the other hand, the licence for private hire vehicles such as mini cabs does not allow the operator to collect passengers from the street or a taxi rank and only allows them to collect passengers who have pre-booked the journey. The conditions that need to be satisfied before the authority will grant either form of licence are extensive and cover details as fine as the colour and engine size of the vehicle as well as more important factors such as roadworthiness and disabled persons access. Most local authorities are rigorous in enforcing these regulations and heavy penalties are imposed on defaulters. Of course one of the most important regulations is the requirement for both the vehicle and the driver to be insured for use for hire and reward on a public road.
All private hire vehicles including licensed taxi cabs and minicabs require a valid certificate of motor insurance if they are to be legally used on a public highway. As is the case with the drivers or owners of all motor vehicles, failure to comply with this can lead to prosecution resulting in a heavy fine and disqualification from driving. Basic motor insurance comes in three general types:
Vehicles that are used to transport other people for hire or reward require additional insurance that will generally increase the level of third party cover. This takes into account the possibility of claims being made against the driver of the vehicle or the taxi operator. Insuring a vehicle that is used for hire and reward can be an expensive business. After all, it is expected that the vehicle will be used on the road much more frequently than the average family car.
The insurance industry operates on the basis of risk assessment and is well aware that the average taxi or private hire vehicle will cover at least twice the annual mileage of other vehicles and will also be used during potentially busy traffic periods when there is more likelihood of an accident occurring. The cost of cover will of course vary, depending on a number of factors, including the type and power of the vehicle to be insured, where it will be mainly used and the driving and claims record of its driver(s).
There are many insurance companies who offer specialist insurance policies for operators of vehicles used for hire or reward and it is well worthwhile contacting a selection of these companies for more specific advice and to obtain the best quote for the insurance policy that provides you with the cover you require.
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