subject: Taxi Insurance FAQ's [print this page] Taxi Insurance FAQ's
If you have just got into or are thinking of getting into the taxi business, it is important that you make sure you take out taxi insurance for your vehicle. With this in mind, there are a number of things that people generally want clarification on when taking a policy for their cab. We have given the answers to the most common questions below and hope that they will assist you when looking for the right cover.
What is the difference between taxi and private policies?
The main difference between these two policies is that taking out a taxi policy means that anybody who uses your taxi is also insured while they are in the vehicle. This is due to the policy including public liability cover.
What is the difference between private hire and public hire?
A private hire taxi is one that must be pre-booked prior to picking anybody up. It is illegal to hail a private hire cab off the street and doing so can land the driver with large fines and may lead to them having their licence revoked.
Public hire cabs on the other hand do not need to be pre-booked and are the taxis that you can flag down. They are primarily used in city centre areas and are governed and regulated by the local councils.
Are personal vehicles allowed to be used?
It is ultimately the decision of your local authority to say which vehicles can be used for taxi purposes. Obviously if you have got a three door hatchback then this may cause problems for some people getting in and out. Generally though, as long as your vehicle is of suitable size and accessibility it should be fine.
Can a private no claims bonus be transferred over?
You will find that a lot of insurance providers will be able to transfer over your no claims bonus from a private policy. It is always best to check with them to find this out as you may well be able to get a reduction in your premium.
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