A Guide to Private Hire Taxi Insurance
Getting the right insurance policy for your private hire taxi is essential whether you are operate in a major city like London, Manchester or Birmingham elsewhere in the country . When you’re looking for private hire insurance online, it’s important to know exactly what it is you’re looking for. There are many types of cover that you can get with private hire insurance, PCO insurance or PHV insurance which are covered in detail further down the page (including Uber driver insurance who will need private hire insurance). The reason that private hire insurance is so important is that not only are you required by law to have it, but it is not possible to run a business without it. The dangers that private hire taxi drivers face on the roads are too great to leave things to chance. Not only do taxi drivers have to worry about other road users and the danger that they pose but also the risks that come from passengers too. A good private hire insurance policy will provide cover for all the risks that a taxi driver will face.
How Cost is Determined
The cost of a private hire policy will depend on a few different factors. Firstly will be the age, driving experience and claims history of the driver themselves. Next will be the value of the vehicle being driven and its current condition. Lastly will be the number of vehicles being insured on the policy. Often private hire operators will get all their vehicles insured under the same policy to save money and make paperwork easier.
Types of PCO Cover
- Comprehensive – Comprehensive insurance is always recommended for taxi drivers. It covers you in all scenarios when there’s an accident.
- Third Party Only - This is the lowest level of cover you can get and still be in accordance with the law. It might be cheaper than comprehensive insurance but it’s not really adequate when you spend so much time on the road.
- Breakdown Assistance – This is an extremely useful type of cover for taxi drivers. If you break down then you want to know that you’ll be back on the road again as quickly as possible.
- Fleet Insurance – If you own a fleet of private hire taxis then it makes sense to insure them under one taxi fleet insurance policy. Not only does this make things much simpler if you need to make a claim but it can also save you a good deal of money.
- Public Liability – It’s essential that you have public liability cover if you’re a taxi driver. There’s always the possibility that a passenger or member of public could make a claim against you and it can be devastating if you don’t have cover in place.
How You Can Save Money on you PHV Insurance
There are a few surefire ways to save money on private hire insurance. Below are three of the best:
- Pay Annually - Most insurance providers will prefer if you pay for your policy for the whole year rather than monthly and will usually offer you a discount when you choose to pay like this
- Make Your Vehicle Secure - To minimize the risk of theft, you should have an alarm and central locking on your cab. This shows insurance providers that the risk of theft is decreased and therefore they can offer you a cheaper price on your policy.
- Get Multiple Quotes - Getting multiple quotes means you get a clear idea of what you should be paying for a policy and gives you the ability to select the best policy at the best price
Getting multiple quotes is usually the best way to ensure you’re getting a good deal on your insurance. If you click the button below you’ll be able to receive multiple quotes from private hire insurance specialists.
Why Choose us for Private Hire Taxi Insurance
Those taxi drivers who work through an office and cannot legally pick up at the roadside will need to be in possession of private hire insurance. While this isn’t quite as costly as public hire vehicles it still costs a pretty penny but you must have it in order to legally transport passengers. Those starting out should be looking out for the best deals around on private taxi hire insurance whereas those in the trade who maybe have got a bit apathetic towards their insurance company should also be having a look at what’s out there.
Highly tailored policies
Is your current policy lacking in some areas but has other things you will never want or need? Private hire insurance does not come in 1 size fits all and our panel pride themselves on highly tailored policies which contain everything you tell them that you do want and absolutely nothing that you don’t.
Compare Private Hire Taxi Insurance quotes easily
What is the easiest way to compare quotes for private hire insurance? Our way. Our user friendly website has made is quicker and easier than ever to compare all the quotes which have resulted from the answers you have given to the questions. Once you have been contacted by the panel of insurance providers, this can be in list form with the prices and excesses etc clearly listed so you can make an informed decision as to which best suits you.
Save time and money on your Private Hire Taxi Insurance
If you are looking for private hire insurance you do not want to spend hours in front of a computer in your precious free time trying to find a good deal. From starting to answer our questions to the results appearing on your screen really does take a matter of 30 seconds. You shouldn’t have to waste time on saving money, and when you come to us you can rest assured you will be saving on both.
Multiple payment options for Private Taxi Insurance
It’s hard to believe in this day and age that some private hire insurance providers still insist on the premium being paid in one lump sum. The panel offers multiple payment options which give you flexibility and make it a lot easier on your bank balance.
What is the point of getting quotes and selecting your private hire taxi insurance within minutes if you then have to wait for hours to get your documents through? Instant documentation means exactly that. You make your initial payment your documents arrive, simple as that. No messing about waiting or having to keep checking your emails, you pay the documents are sent; simple. The majority of the panel offer this facility.