There are two categories of taxi drivers; public or private. Public taxi drivers need a different insurance to the private taxi as they can pick up passengers from the roadside. Private taxi insurance or mini cab insurance as it also known as, is needed to cover the driver and passengers who pre booked the vehicle. In the UK it is a legal requirement for licensed taxi drivers to be covered in the event of an accident or vehicle theft. Other road users need insurance and therefore as taxis cover huge mileage they need to be sufficiently covered too.
Mini cab insurance differs to other taxi insurance because they cannot pick up fares from the roadside. As the taxis need to be pre booked, whether online or over the telephone, the taxi driver knows the location and amount of customers they are picking up. This data is logged and car type taxis can only collect 4 passengers. The private taxi driver is also only allowed to carry four passengers at any one time.
Compare this to public or Hackney cabs, they are generally the London cabs which can carry five or even six passengers at any one time. This means their insurance needs to be different, especially as they can pick up customers who flag them down from the street. Therefore private taxi insurance needs special insurance, one which can be bought online or over the telephone.
When searching for mini cab insurance, taxi drivers or companies can use a comparison website to search through many insurers at one time. This can help if there are many young drivers or in a high risk area.
Private taxis tend to cover more road miles than public taxis, which generally stay in city centres. Private taxis therefore need breakdown cover and windscreen cover included in their insurance quote. Most taxi insurers will cover the driver’s costs if they have an accident and cannot work.
It is important to check what is included with mini cab insurance. In the event of an accident or breakdown, taxi drivers need to be covered for every eventuality.
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