A Guide To Uk Taxi Insurance
Most people who decide to start a taxi business in the UK soon discover that most
of the websites they visit only tend to offer, or at least mention, regular car insurance, and of course regular car insurance is pretty much useless if you own a taxi. Fortunately however, things are not quite as they seem.Once you start applying for quotes, you'll be asked a variety of questions. For example, you'll need to state whether you're a 'public hire' driver, or whether you're a 'private hire' driver. You'll also need to say what make and model your car is, and you'll have to let the insurance companies know whether or not you'll be the only person driving the vehicle.
Most couples who own a taxi also tend to use the vehicle for private use, so if your partner is likely to be using the car when it's not being used as a taxi, then you'll need to have their name included in the policy. While most insurance companies allow this without you having to pay extra, not all of them do so it's something worth discussing with your provider before you sign on the dotted line. Let's face it; you don't want to end up with a policy which makes it illegal for your spouse to drive the vehicle until your policy runs out.
Your age and the age of any other named drivers will also have an impact on the cost of taxi insurance, and if one or more drivers are below the age of 25 then you can expect to pay more for cover. The area in which you'll be operating will also affect the cost, in that certain areas are deemed to be 'high risk' areas. This is particularly true in terms of where the vehicle is being kept when not in use.
For example, if you live in a high risk area, and one which has a high crime rate, then don't expect any favours from the insurance company if your taxi is usually parked out on the road during the night. While you're probably not willing to move to a different neighbourhood, you can take certain steps to discourage thieves. Make sure you have an alarm installed, and even a GPS tracking device.
With that said, your own personal driving record will also come into play. If you've had several convictions in the past, then you can say good cheap taxi insurance, and the same applies if you have a history of submitting several claims during the past three to five years.
These are just a few of the things which have an impact on the cost of insurance, but of course much will depend on the level of cover you require. For example, you may want your policy to include breakdown cover, and while this may not set you back too much, it will still cost more than if you were to go without it.
Whatever you do, you need to make absolutely certain that all the information you provide is 100% accurate. If you ever need to submit a claim, and the taxi insurance company happens to notice a few discrepancies, they will more than likely refuse to pay you out, and if it's because you supplied false information, then there's nothing you'll be able to do about it.
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