Levels of Public Hire Taxi Cover
There are several protection options available to taxi drivers. When choosing your level of cover, it is important to weigh up the cost against the level of cover.
- Third-Party Insurance: This is the minimum level of insurance required for public hire drivers. It covers harm to a third-party or another vehicle. It does not cover expenses related to personal injuries or car damage to your own vehicle.
- Third Party, Fire and Theft: This policy offers the same cover as third-party insurance as well as for your own car if it is stolen or damaged by fire. It does not cover expenses for collision related repairs to your own car.
- Fully Comprehensive Public Hire Taxi Insurance: This is the most popular kind of insurance for public hire taxis. Offering protection not only for you and your own vehicle but also for other people and their property. It typically provides the most complete protection in the event of an accident.
What Does Public Hire Insurance Include?
Public Hire Insurance is a type of insurance policy that is specifically designed for taxi drivers who operate public hire vehicles in the UK. It is a legal requirement for all taxi drivers who operate public hire vehicles.
Public Hire Insurance typically provides the following coverage:
- Public Liability Coverage: This coverage protects the driver in the event of an accident where a member of the public is injured, or their property is damaged, as a result of the driver’s actions.
- Passenger Liability Coverage: This coverage protects the driver and passengers in the event of an accident where passengers are injured or their property is damaged.
- Vehicle Cover: This coverage protects the driver against damage or loss to their vehicle as a result of accidents, theft or fire.
The specific coverage and the cost of Public Hire Insurance will vary depending on factors such as the driver’s age, driving history, location, and the type of vehicle being insured. It is important to carefully review the policy and compare different providers to ensure you have the appropriate level of cover for your needs.
Add Ons For Public Hire Insurance
When selecting a public hire insurance policy, there are several add-ons to consider.
- Insurers often provide flexible payment options, including monthly payments, which can make policies more affordable for drivers. It’s worth comparing public hire taxi insurance quotes to find the best payment option for you.
- Legal cover is another important consideration, as it can assist with legal costs if needed. Although some policies already come with basic legal cover, it may be worth considering adding this to your policy to ensure you have sufficient protection. When comparing policies or speaking with a public hire insurance broker, ask about legal cover options.
- As a public hire service, you will likely be covering a significant amount of mileage, which can increase the risk of breakdowns or mechanical issues. You can add breakdown cover to some insurance policies to provide additional peace of mind and ensure you can get back on the road quickly if your vehicle breaks down.