If you are consider working as a taxi driver or private hire car driver then it is important to remember that although you might already be in possession of standard car insurance, which will often include “business use” you will not be covered with this policy if you are driving a private hire vehicle. If you are taking money in exchange for carrying people, or goods, then you will need to look into purchasing a specialist taxi insurance that contains hire and reward cover.
As any driver in this situation will advise you the money that you earn from your fares is not the only primary concern. It is important to ensure that you are taking out the right kind of cover to protect you as this could have a big financial impact on you in the event of any issues. As with any type of insurance, it is always a very good idea to make sure you check exactly what type of cover is being offered with any PCO Insurance you are considering. If the policy you are being offered is much cheaper than those available elsewhere then you may want to check that it does include everything that you do need.
What is included?
What your private hire insurance includes will depend on what type of taxi you drive: This will include, but is not limited to, whether you take passengers on a pre-arranged basis or pick up passengers at the side of the road. Where you operate, countryside or city and the regions you cover. It will also include the type of vehicle you drive.
As standard, your policy should include motor insurance and also passenger liability insurance – this will ensure that both you and your passengers are protected if anything should happen during a journey.
There are a number of things that you can choose to add to your policy to enhance the cover that you have:
- Breakdown cover – this might include cover for separate onwards travel to enable your passengers to get to where they need to be
- In the case of an accident a courtesy plated taxi
- Cover if you should have an accident that will assist you in the recovery of your vehicle
- 24-hour claims assistance
- Repairs to your vehicle should you have an accident
- Should your vehicle fail to start, home start recovery
- Cover for any loss or damage to your keys – this might include charges for locksmiths, replacement keys and locks, any car hire and onwards transport required
What is not included?
There are also a number of things that will not be included on a policy for example:
- It is common practise for drivers under the age of 25 to not be covered on this type of policy, however in some cases exceptions are made when the driver has a clean driving history. This will cause an increase in premiums
- If the keys are left in the car it will not be covered in the event of a theft
- Unsafe or unauthorised use of the vehicle
- Driving the vehicle outside of the region that is specified in the insurance policy
Public liability cover is something that needs to be considered. Public liability taxi insurance protects you, the driver, in the event of any accidents or unforeseen circumstances that involve the passengers who are in your care. If you regularly drive children to school as part of a council or local authority contract, it is important to ensure they you are covered as you are legally liable for that child until you have handed over care to the school.