There are some very competitive taxi insurances deals to be found online. Insurance companies who specialise in taxi and private hire insurances are offering a wide choice of options to customers such as:
1. Generous no claims discounts/bonuses. These can be over 50% for drivers who have many continuous proven no claims history.
2. Fully Comprehensive, Third Party Fire and Theft and Third Party Only cover.
3. Public hire, taxi, private hire, minicab, taxi fleet and contract hire policies.
4. Window screen and glass cover, many without loss of bonuses.
5. Emergency breakdown cover, with approved repairers.
6. Claims assistance.
7. Different payment options, including monthly instalments.
8. Replacement plated taxis for non-fault claims, subject to an identifiable third party.
9. Public Liability cover. This cover is required by many local authorities for private hire contracts.
10. Employer Liability cover. Employers have a legal 'duty of care' to ensure, as far as is reasonably practical, the health and safety of employees while they are at work under The Health and Safety at Work Act 1974.
11. All post code areas of the UK.
12. Lower premiums for drivers who undertake Advanced Driver Training.
Other optional insurance cover can also be obtained for onboard electronic equipment - such as radios and meters as well as money carried on board.
This option varies considerably between insurance companies. Personal belongings carried in the boot such as golf clubs and fishing gear can also be covered by the insurance as can cover for a spouse who drives the vehicle for social and domestic purposes.
Those new to taxi driving can be given discounts for new private hire and taxi enterprises and businesses. Some insurances companies will also offer discounts for new taxi and private hire drivers who have not earned a no claims discount. This will be a lower percentage that full no claims discounts offered.
It should be realised that each taxi and private hire insurance company does not necessarily offer all of these options. Each insurance company will vary as to the options they include in their Fully Comprehensive insurance cover and what is an optional extra.
Those who chose Third Party and Third Party Fire and Theft cover may be able to select optional extras to suit their needs and budget. Restrictions and exemptions will also vary according to each different insurance company's terms and conditions. It should also be realised that optional extras will incur a cost.
The post code area in which a taxi or private hire vehicle operates will have an effect on the cost of the insurance premiums. Those who operate in inner cities or high risk areas will be subject to higher premiums. This is due to the increased risks associated with working in these areas.
The increased risks are not solely due to minor or major accidents they are also associated with higher car crime rates such as vehicle theft, vehicle content theft and vandalism.
A useful way to help you make an informed choice as to which insurance company is offering the best insurance deals is to use an online insurance broker who specialises in taxi or private hire insurance.
By providing them with as much accurate information as possible, they will carry out extensive searches from numerous different insurance companies and provide insurance quotes to meet your individual or business needs.
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