Car Insurance UK

All about: Taxi Insurance

For professional taxi drivers finding competitive, reliable taxi insurance is almost as important as choosing the right vehicle. Taxi insurance is not only a legal requirement, but it also protects your livelihood in the event of an accident, public liability claim or breakdown. And the good news is that, if you choose the right broker, comprehensive taxi insurance needn't cost the earth.

Taxi trivia

On 17 October 1994, London cabbie Jeremy Levine broke the record for the world's longest taxi ride. He drove two friends from London to Cape Town and back, covering a distance of over 21,000 miles. The fare was estimated to be in excess of £40,000.

What to ask your broker when looking for taxi insurance

  • Will they take any ‘no claims' bonus from your personal car insurance policy into account?
  • Can they beat your existing quote?
  • Will they offer you a ‘plated' replacement cab if you are involved in accident?
  • What happens if the accident is judged to be your fault?
  • What is their record on payment in the event of a claim?
  • Is public liability cover included?
  • Do they offer discounts for more than one vehicle?
  • Do they offer cheaper cover for private hire?

Top Tips for cheaper taxi insurance

  1. We have already mentioned it, but it's essential that you exploit your no claims bonus from your private car policy.
  2. Consider driving a black cab. It generally costs less to insure a traditional “Hackney Carriage” than a regular saloon car or a people carrier.
  3. Restrict usage to the owner of the vehicle or a single named driver.
  4. Consider choosing third party, fire and theft. If your vehicle is a few years old it might make financial sense to opt for the most basic insurance cover.
  5. Increase your voluntary excess. This is a surefire way to reduce your premium. But bear in mind that, if you have no savings in reserve, having to pay a large excess before you can get a replacement vehicle may put a temporary halt to your driving days.

Finally make sure that you are dealing with a specialist insurance broker, such as www.quotelinedirect.co.uk, who has the industry muscle to negotiate the best deals and the track record to support their claims.