Private Hire Taxi Insurance

It is not compulsory for all taxi drivers to have private hire insurance. Private hire insurance provides cover to taxi drivers who work on an advanced, pre-booked status.

This kind of insurance is perfect for Uber drivers using the pre-book app and usually includes multipurpose vehicles such as people carriers and minibuses.

To know which insurance policy you need, you first need to know what kind of taxi service you’re providing. If you work on a pre-booked system you will need private hire insurance, this also includes drivers who work for ride-hailing companies such as Uber.

Other insurance policies include:

• Minicab insurance
• Black cab insurance
• Public hire insurance
• Taxi fleet insurance
• London taxi PCO Insurance

Not having the correct insurance can invalidate the policy that you have, causing issues if you were to be in a collision.

Private hire insurance is there for drivers who are licensed to transport passengers for money to a location of their choice. This booking must be made in advance by a private hire operator. If driving passengers is your full-time job, standard car insurance policies are not sufficient as you need a specialist motor insurance policy.

The most common coverage provided under this policy is that it will cover your vehicle against theft, fire, and accidental damage, but you may be able to add extra coverage in the following areas:

• Continent use within the EU (social, domestic, and pleasure use only)
• Claim management and any legal fees
• 1 year + no claims bonus
• Unlimited repair and replacement for windscreens
• Public liability insurance to protect if any customers are injured while in your vehicle
• Celebrity carriage cover
• Uninsured driver cover

A lot of these benefits will come as standard with your policy and can prove priceless in the case of an accident.

When taking out a private hire insurance policy, you may notice that it is much more expensive than usual car insurance. Many factors increase the price of private hire taxi insurance.

These include:

• A large number of miles driven.
• The amount of time each taxi driver spends on the road
• Late-night hours
• Driving in darkness
• Driving in even the worst driving conditions
• Driving through built-up, congested areas
• Driving during peak traffic

If you’re struggling to find the best insurance for your money, here at the Utility Saving Expert, we bring all the best possible quotes for your insurance into one place, allowing you to make comparisons and find out which taxi driver insurance is best for you.

In most circumstances, you will find that private hire insurance is cheaper than the cost of public hire insurance. This is due to the lower risk value that comes with private hire taxis. Using the Utility Saving Expert, you can compare and find which hire taxi insurance is best for you.

If you find that your private hire taxi insurance quotes are still a little costly, there are a few ways that you can help lower the overall price. Here are a few options you can choose to bring the cost of your private hire taxi insurance down:

1. Pay annually – Paying manually rather than monthly is an initial bigger cost, but overall can save you a lot of money. Monthly private hire taxi insurance payments will be stung with a higher interest rate. Save money, pay it annually.
2. Breakdown cover – Taking out a breakdown policy simultaneously as your hire taxi insurance can help you save money. Packages can be found, and insurance companies encourage more policies to be taken out.
3. Security – Installing security features such as CCTV or a Thatcham – approved security device can help to bring your premiums. Not all insurers do this kind of thing, so it is important to check with them beforehand, but showing you’re adding more security features in the case of a motor incident will help to provide proof of damages and cause of an accident.
4. Being a safe driver – Making claims will always make your insurance premiums rise, so this wants to be avoided at all costs. Penalty points such as speeding are also going to cause your premiums to rise. Safe driving is the best way to save money, and you will also save money on fuel, being more economical on the roads.
5. Accurate mileage – Lower mileage means less time on the road. This is hard for a taxi driver who is full time as being on the roads is a part of their lifestyle, but lower milages can lower costs. Always be accurate with mileage declaration as if it is found to be wrong, your insurance policy could be invalidated.

A private hire insurance certificate is a legal document that provides documentary evidence that you are insured to drive a specific private hire vehicle and carry passengers for hire and reward.

The insurance comparison technology we provide includes the following private hire taxi insurance companies and brokers:

• Todd Insurance Brokers
• Quotax Insurance
• Milestone Insurance Consultants
• XYZ Insurance
• Patons Insurance
• Milestone
• Barry Grainger
• Broadsure Insurance
• Insure Taxi
• Osborne and Sons
• Wilberforce Insurance
• Insurance Centre
• One Answer
• Abbey Insurance
• Freeway Insurance
• The Taxi Insurer
• Riviera Insurance
• JMB Insurance
• Sureplan Insurance
• TaxiINS
• Staveley Head
• Bell Insurance
• Much Ado About Insurance
• Zego
• SEP Insurance Services
• Clegg Gifford Insurance
• Coversure Insurance Services
• Compare Insurance