Vehicle insurance is a requirement by law within the United Kingdom
. More specialised insurance policies are required however depending on the use of the vehicle. A form of taxi insurance is required if you intend to transport passengers on a hire or reward basis. Private hire insurance or mini cab insurance as it is also referred to is required for taxis that operate through pre arranged appointments. This is usually by phone to a taxi agency or through a taxi office. This should not be confused with public hire insurance that is for taxi drivers who are licenced for immediate pick up and do not have to be booked.
If you are looking to take out a private hire insurance policy you can usually find a competitive quote easily through the Internet within a matter of minutes. When looking for private hire insurance it recommended that a specialist insurance broker is used. This is because they are experienced in providing private hire insurance on a regular basis, having a good understand of what you would need to have included within your policy. They often provide policies with lower insurance premiums as they can tailor it directly to your needs as a private hire driver.
There are many different vehicles that can be used as a private hire taxi however this is generally at the licensing authorities discretion. Japanese manufactured five door saloon cars are the most common due to their renowned reliability and low running costs. However some private hire drivers opt for larger vehicles such as MPVs so they can carry larger parties of passengers.
Other options include luxury executive vehicles and even motorbikes however these are generally more common in the London and other larger cities.
There are a number of options when taking out a private hire insurance policy, and insurance can be provided for a single driver, a selection of named drivers, or even on any driver basis, however this is often subject to age. However to keep insurance premiums lower the most favourable option is that of single driver insured only.
It is understandable that insurance premiums can be expensive and private hire insurance is no exception. This can often be difficult if you are looking start a taxi business, however specialist insurance brokers that offer private hire insurance often provide discounts for introductory drivers. Further discounts can also be gained with no claims bonuses and if you insure a number of private hire cars with the same broker.