A comprehensive guide to taxi insurance

If you are a taxi driver you must have taxi insurance, are you completely insured to drive your taxi? Selecting taxi insurance is not a challenging task. Taxi insurance will provide you with solutions when you have issues with your taxi in the future and can help you avoid any unnecessary expenses that may arise from personal damages.

  1. Who Requires Taxi Insurance?

According to UK law, if you earn a living by driving passengers, a typical vehicle insurance policy is not enough. This is because; the passengers you carry may hold you liable in the event something wrong occurs.

There are lots of considerations when selecting the best taxi insurance for you. You should consult a taxi insurance agent to save money and time and ensure that you are sufficiently protected from the risks you face.

  1. Types of Taxi Insurance

With so many insurance companies formulating ideas on how to improve taxi insurance, getting the ideal taxi insurance is affordable more than ever. It is vital you know the different types of taxi insurance to choose the one that is best for you. 

  1. Third-party Taxi Insurance

This is the simplest form of taxi insurance you can go for. This policy covers property damage, your passengers and personal injury. However, it does not cover the cost of damage from theft or fire and vehicle damage.

  1. Third-Party + Theft

This is another kind of taxi insurance that gives you the same coverage as the third party policy with additional protection for your vehicle. This policy ensures you are covered when passengers get injured; your vehicle is destroyed or is involved in a theft or fire incident.

  1. Comprehensive Cover

This is the highest level of taxi insurance available. Therefore, this is the most sufficient cover for your taxi. It covers the cost of repairing your vehicle and windscreen damage on top of everything the other types of taxi insurance cover.

  1. Fleet Taxi Insurance

Fleet taxi insurance typically provides taxi cover to three or more cars under one policy and is mostly used by taxi companies in Bristol and other cities across the UK. Fleet taxi insurance can cover private hire fleets, public hire fleets and mixed fleets of cars. If you rent your cars out to drivers, they can be covered by taxi fleet insurance provided they are above 25 years old.

  1. Single Driver Taxi Insurance

This is a type of taxi insurance that is suitable for self-employed taxi drivers and small taxi companies. It is also used by taxi companies when they are insuring vehicles that are not registered under the company name. 

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