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Obtaining Insurance for a Taxi is Becoming Easier

January 3, 2011 By

Having insurance for a taxi not only keeps within the law, but the paying customers know that in the event of any accident, the costs of medical and or absence from work will be covered. In many countries, it is compulsory to have vehicle insurance. UK taxis are legally required to be insured, whether it be Hackney cabs, which can be hired from the street or private hire ones, which need to be booked in advance.

Paying for insurance for a taxi can either be done through an agent, a broker or in the UK you can place a security deposit with the Accountant General of the Supreme Court. The latter is a figure, as of 1991, was GBP 500,000 and would be held in case of accidents or personal injury using a motor vehicle. This was put into place after the amended Road Traffic Act 1988, which stated every person driving a vehicle must have current insurance for a taxi.

It is an offence to drive without taxi insurance. As paying customers utilize the service offered, it is for both parties, the driver and the customer to be covered by insurance. This in turn helps maximize taxi drivers’ integrity and minimize the customer’s worry.

Without correct and current insurance, taxi drivers can have their license revoked. If an uninsured taxi driver were to have an accident they would be liable for the cost of damages to both vehicles and any injuries to humans. This is why buying insurance for a taxi is so vital.

Not only is it against the law to drive without insurance, it is also mandatory for obtaining and keeping a taxi license. There are strict guidelines for drivers to follow and one definitely is to be correctly insured.

Buying insurance for a taxi is simple. Drivers can purchase online, over the telephone or using a comparison website which compares prices of many legitimate insurance companies or brokers. Drivers must make sure they choose the correct policy for their usage. Sometimes the cheapest one is not always the best.

Insurer Outstanding Features Quote
Private and public hire vehicles single or fleet cover, Bonus earning schemes available, 3, 6 and 12 month policies, Flexible Payment Options, Cover available nationwide, Minibuses, MPV and coach cover. £100 cashback or free breakdown for new customers! Terms and Conditions may apply. Freephone Quoteline 0800 466 1989

Filed Under: Taxi Insurance Articles and News Tagged With: ,

Insurance for a Taxi Driver

January 17, 2010 By

Insurance is an essential financial item for many things in life, and in recent years premiums for most things have been on the rise. Insurance for Taxi Driver is no exception. It’s been getting increasingly more expensive over the years, and there are a number of reasons for this.

Insurance for taxi drivers protects not only the driver, but also their passengers and even their boss. It negates any personal responsibility for accident or injury and means that all eventualities are covered for so they can work in complete confidence, and as such the premiums need to be higher. With regular car insurance there aren’t as many factors that need to be considered so it’s understandable that this type of insurance will be cheaper.

Studies also show that taxis and private hire vehicles of all kinds are more likely to be involved in an accident or breakdown, largely because they’re used a lot more frequently than cars for personal or leisure use. Because of this the premiums have to be higher so insurers are prepared for the higher probability of having to pay out for a claim.

Insurance for taxi drivers also comes with a lot of additional items as standard or extras, such as breakdown assistance, legal cover and even medical or hotel expenses. These make sure that you’re back on the road as quickly as possible and also protect you and your passengers for any issue that could come about. All of these will result in higher premiums, but it’s a small price to pay for the level of cover that taxi drivers receive.

So, while insurance for taxi drivers has become a lot more expensive in recent years, there are a number of reasons for this and there are several advantages to having to pay that higher price. And, let’s not forget that insurance for most things has increased in recent years also, so really the increase in taxi insurance premiums is entirely relative to the current financial climate as a whole so is, unfortunately, something that we all have to get used to.

Insurer Outstanding Features Quote
Private and public hire vehicles single or fleet cover, Bonus earning schemes available, 3, 6 and 12 month policies, Flexible Payment Options, Cover available nationwide, Minibuses, MPV and coach cover. £100 cashback or free breakdown for new customers! Terms and Conditions may apply. Freephone Quoteline 0800 466 1989

Filed Under: Taxi Insurance Articles and News Tagged With: