Private hire insurance is an essential consideration for anyone that drives such a vehicle, but unless you’re already in the industry, it could be difficult to know where to start. It’s important that you get the best policy you can to ensure you’re totally prepared for every eventuality, and here’s a quick overview of what you need to look for in this particular type of insurance.
The first thing you need to bear in mind is the level of cover that you’ll need. Basic third party simply shouldn’t be an option when your vehicle is your livelihood, particularly as you’ll be transporting passengers – if anyone were to be injured then the costs can quickly mount up, so always go for the most comprehensive policy that you can afford.
Then you need to think about the added extras that could be necessary. Again, because you’re operating in a professional capacity you’d be wise to think a bit deeper than the norm, so things like breakdown assistance, replacement vehicle cover, medical expenses, legal expenses and windscreen cover shouldn’t be questioned. Most of the time they won’t add too much to your premiums and they’re bound to be worth it, particularly as taxis tend to make more claims than regular vehicles for the sheer length of time that they’re on the road.
Your level of excess is worth thinking about as well. It needs to be realistic, and while most insurance firms offer a base value there’s always the possibility of altering it depending on your circumstances. You’ll also want to bear in mind the insurance firm itself, and ideally you’ll want a specialist company that offers quick response times and can deal with any claims as soon as possible. This ensures that you’re never off the road for too long, so checking up on these figures is always worthwhile.
But, one of the most important considerations will always be price. You want to make sure that you’re getting the best policy you can without spending a fortune in the process, and that all comes down to research. Make sure to compare a few options to make sure you’re getting the best you can for your money, and if you do you can be confident that you’ve got the private hire insurance that you’re looking for.