You are required by UK law to have insurance for taxi persons publicly and privately. This is very important for people who wish to taxi as you could end up paying a very heavy fine or put in jail if you do not have insurance. You are required also by law to have the correct type of insurance to ferry passengers and this is very important as well. There are two main types of insurance. One is for public use and the other is for private use.
Public taxis such as London’s famous black cabs are required to have a license from the vehicle authority in the area. They must also have insurance that is compatible for stopping and picking people up from the side of the road. Private insurance for taxi cabs is your local taxi firm that operates out of a building. They are the ones that you usually call for them to come and get you and take you to your required destination.
The two main types of taxi insurance have three separate insurance policies. They are fully comprehensive insurance which allows anybody to drive the vehicle, third party fire and theft is to cover the vehicle from loss or fire damage and lastly third party only which covers the driver and passengers.
There will be excess on the insurance for taxi cabs and this may be set at a monthly rate. It is an offense by UK law to not have insurance and for a small price that you have to pay, as it is safer to do so. You do not wish to suffer the same consequences as some taxi drivers by not having insurance and having an accident. Drivers have been bankrupted by claims against them from passengers and for a small fee you can protect against this.
Insurance for taxi drivers is very important for those who wish to drive a taxi so don’t forget to get insured or you will be breaking the law.
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