Working as a black driver requires you to have the right insurance in place.
Not all black cab insurance policies look the same since you’re able to choose what level of cover you want to get.
Below are the main types of black cab insurance that are available.
Third party only
A third party only policy is the cheapest type of black cab cover you can get and also the lowest level of cover you need to drive your cab legally. It won’t provide any protection for your own vehicle since it’s designed to protect other road users’ vehicles if you’re involved in a collision where you’re to blame.
Third party, fire and theft
If you feel that a third party only policy doesn’t provide enough protection for your cab the you can upgrade to a third party, fire and theft policy. This is the same as third party only you’re also covered for any damage that occurs as a result of fire, or if your vehicle is stolen.
Public liability insurance is something that you’ll need to get added to your black cab policy. When you’re transporting members of the public then their safety is your responsibility while they’re in your vehicle. If a member of public or passenger were to be injured or killed as a result of your actions then a liability claim could easily follow. Public liability cover would ensure you could pay out in such a scenario.
If you felt a liability claim was unfairly filed against you then you’d probably want to fight it in court. The unfortunate reality is this can be very expensive, prohibitively so in a lot of cases. Therefore legal expenses is a very useful type of cover you can add to a black cab insurance policy.
Relying on your vehicle to make a living, you’ll certainly want to ensure that you have good breakdown cover in place. Although there are companies who specialise in providing breakdown cover, most insurance providers will also give you the option to add it to your policy. This often works out cheaper so it’s definitely an option worth considering.
If your vehicle were to be seriously damaged or written off then you wouldn’t be able to work until you got a new cab. Vehicle replacement would ensure that you are provided with a new cab so there’d be no interruption to your work schedule.