5 Taxi Insurance Options for Drivers in 2015 and Other Considerations


As a standard vehicle insurance policy holder, you will typically only have to choose between third party only, third party fire and theft or comprehensive insurance when protecting your vehicle. This is not the case for taxi drivers, however, who must consider a far wider range of products and options before making an informed decision.

With this in mind, here are some of the options that taxi drivers should consider when insuring their vehicles: -

#1 Public or Private Insurance

Your first decision is made for you as this is solely based on the type of taxi service that you offer. Are you a Hackney or Black Cab driver that is able to pick people up off the street? Or are you a private hire driver that has your customer book? This will dictate the option that you ultimately select.

#2 Single Driver or Fleet Insurance

Again, this decision is made for you as it is solely based on whether or not you wish to insure a fleet of drivers or just yourself. There are different options depending on which type of insurance you need.

#3 Policy Only Insurance

This is suitable for both types of policies but is the least comprehensive insurance so you should check whether, although it is cost effective, it actually covers all of your needs. Also, if you are insuring a fleet and intend to add extra drivers you are likely to see a sharp increase in your premiums.

#4 Single Driver Only Insurance

This is named only driver insurance and the policy can be tailored to your personal requirements.

#5 All Driver Insurance Policies

These policies are suitable for owners of fleets of taxis as they allow one policy to cover multiple drivers.

What else do you need to Know?

Having considered the above you then need to decide on the additional cover that you require (if any at all): -

Public Liability Cover

This is highly recommended to all taxi drivers as it ensures that you are covered against any claims from customers should they hurt or injure themselves in your vehicle.

Taxi Breakdown Cover

Given that your vehicle, or vehicles, is your livelihood you may wish to insure it against breakdowns so that you can keep it on the road and keep earning a living.

Our Final Thoughts

There is also a wealth of other elements that you may wish to consider when arranging your insurance coverage. This is because there are other matters which are included in your insurance policy that could affect its benefit to you. As these can often get hidden in the small print of your policy, it is important that you thoroughly check it to ensure that it is right for you.

If you do not feel confident doing this it may well be worth enlisting the help of a broker who will help you find a policy at the right price for you. Some brokers, such as A-Plan, will even tailor your policy to your individual needs, and this is a service that has huge value in an increasingly well-populated and diverse market.

At Motor Heads we appreciate every opinion! except SPAM! Comments are moderated, so if you want to link to your motoring site please ensure its relevant to the conversation, otherwise your comment will be removed.

Post a Comment

At Motor Heads we appreciate every opinion! except SPAM! Comments are moderated, so if you want to link to your motoring site please ensure its relevant to the conversation, otherwise your comment will be removed.

Post a Comment (0)

Previous Post Next Post