What are the different types of taxi insurance?

15 Mar 2018

What are the different types of taxi insurance?

As a taxi driver, you will look upon your car as more than just a vehicle, it’s also your main source of income.

Taxi driving involves many unsociable hours, usually driving in inner-city, built up areas, that all give a higher risk of accident, not to mention the higher mileage you are likely to be doing, than drivers with a typical car insurance policy.

As a result of these additional risks, Insurers are more likely to quote you a higher premium. So it’s crucial to find the best policy, and whether you operate a private hire mini-cab, or a public hire city taxi, there are several types of different Insurance cover to choose from.

Of course you want to get the lowest cost policy that is right for your needs. How do you get the correct cover that is at a premium that you’re happy with?

 

Comprehensive Cover

This policy offers you the highest level of cover available.  Regardless of who is at fault, in the event of an accident, with comprehensive taxi insurance you will be covered for not only damage to your own vehicle, but also for repairs to a third party vehicle. If you are unlucky enough to be targeted by vandalism, theft or fire damage, you will be fully covered meaning that you can continue with your employment without being out of pocket.

 

Third Party, Fire and Theft

A policy offering third party cover will only cover other vehicles and your passengers in the event that you are at fault. Your vehicle will not be covered as a result of an accident you have caused. With a Fire and Theft policy, you will have peace of mind knowing that your taxi and its contents are covered in the event of an incident of this type. Should your car be destroyed by fire damage, or stolen and never recovered, with this type of insurance policy you will ensure you won’t be out of pocket, getting you back to work as soon as possible.

 

Third Party

This is the most basic level of insurance cover, which only covers loss or damage to a third party vehicle, property or your passengers. If you were proved to be at fault in an accident, any damage to your own taxi and contents will not be insured, with you having to cover the cost or repair or replacement yourself.

 

Public Liability

You have peace of mind knowing that your passenger liability is covered by each of the above three types of insurance cover, in the event of an accident, but you may also wish to consider Public Liability cover, to ensure that you are insured for any negligence claim that may arise, for property damage or for a personal injury claim.

 

Whatever type of taxi insurance cover you are looking for, Insure My Taxi For Less can help you get a great deal. 

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