Tips For Finding Suitable Private Hire Insurance For New Taxi Drivers
If you have thought about or joining the taxi business or are new to it then you will understand that there is a lot of money and effort involved
. Firstly you have to hold all the correct private hire licenses so that you can legally drive for hire or reward and you have to find a suitable vehicle that is approved by the licensing authority. Then you have to find a suitable taxi rank to drive for or start up your own rank. There is a lot to think about and that is all before you have looked for private hire insurance for your vehicle.Starting out in the taxi business can be difficult the investment costs are high and it can be difficult to make a good amount of money until your established. Whilst premiums for private hire insurance can appear expensive most drivers will often think of trying to get the cheapest policy possible, which is difficult if you are inexperienced and have yet to accumulate years worth of no claims bonuses. However it is not always the best options to go for the cheaper insurance available.
Whilst private hire insurance for taxis is generally cheaper than that of pubic hire there are still a number of risks involved, and the reasons for taking out an adequate insurance policy are convincing. After a substantial investment of time and money in setting up it is important that you your taxi will be covered against a whole host of possible incidents. Having full comprehensive private hire insurance gives you peace of mind in the case of any accidents.
If you are liable in the case of road accident a full comprehensive private hire insurance policy will cover the cost of damage and injuries to all parties involved and most importantly any legal proceedings that may arise from this. There are also a number of added benefits that come as part of a fully comprehensive private hire insurance policy. These can include breakdown cover, in case of your car breaking down whilst working you can get someone out to take you to a garage as soon as possible which is important when your car is key to your earnings.
Other benefits include glass cover that offers important protection for potential windscreen damage such as cracks and chips; this can usually be used without having to pay a large excess if any. Courtesy car is also very important if you are involved in an accident, as it allows you to continue driving whilst your car is repaired.
Overall it is best to look for insurance brokers who specialise in offering private hire insurance policies. They will have the best understanding of what your will need cover for and provide you with the most competitive quote for cover.
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