subject: Conditions To Consider Before Selecting Your Private Hire Taxi Insurance [print this page] When you are running a cab company of any type, you are going to need to make sure you are carrying insurance, though that is often much more difficult that it sounds for several reasons. Before you choose your insurance provider and plan you will need to determine whether you are a private hire taxi company or a public hire company. To the average consumer the difference is inconsequential, but to the company it is a big deal and with that being the case, you need to figure it out before you officially open for business.
The difference between public hire and private hire is actually pretty simple: with public hire you will park your cabs on the street and wait for customers. In the case of private hire however you will be forced to keep your cabs in certain locations and you will typically only take on clients who call ahead for an appointment. It can be a bit limited but it does have its own distinct set of advantages.
One of the biggest advantages is the fact that your cars will stay in decent shape for the most part. You have the option of being selective with your clientele and you will only park your cabs in specific places. This will limit the scenarios in which your vehicle may be damaged and in the end this will actually be quite beneficial to you.
Before you can choose private hire taxi insurance of any type, it would be quite beneficial for you to compile a list of your needs. These needs could vary from company to company, but there are a few specific things that they should cover.
Take the following points into account before you hire any particular company:
Check to see if you will receive a discount for having more than one vehicle in your fleet. Most insurance companies will provide a discount for at least two, so make sure you ask about it when you are going over the insurance package.
Some insurance companies will provide a discount for buying online and if they do it will generally tell you as much on the website. This is definitely something to take into consideration when you are buying insurance!
Most of the time you will be able to obtain an Accident and Assault policy that will cover both violent crimes against your vehicle as well as compensation for various accidents depending on the exact circumstances.
Does the policy include replacements for non-fault accidents? If so then they might also allow you to replace for fault accident as well assuming that you are willing to pay a bit extra.
These are just a few things that you will need to take under consideration when purchasing your private hire taxi insurance. It can become a bit complicated, but once you have your insurance policy in place and are ready to hit the road, you will be glad that you took the time to choose the right insurance company. Now is the time to insure your fleet with your private hire taxi insurance.
by: Neil Anderson
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