What is Private Hire Insurance?
Private Hire insurance covers drivers who are licensed to carry passengers for a fee, but, in almost all cases, drivers must only take on passengers that have pre-booked with a private hire operator in order to get this type of taxi insurance. It also covers drivers who are licensed to carry passengers for hire and reward.
Regular car insurance policies offered by standard insurers will not be adequate if you drive for a living. Your specialist private hire policy will typically cover your vehicle in case of fire, theft, and any accidental damage. You may also be able to add coverage for the following:
- Coverage for driving within the EU
- Legal Expenses and Claims Management
- No Claims Bonus after one year
- Windscreen replacement or repair without restriction
- Public Liability should a customer be injured while you are driving the vehicle.
- Celebrity Carriage Insurance.
Benefits such as these are already part of some policies, and could prove invaluable in the event of an unplanned event.
Always check your policy documents for more details.
What are the differences between public and private hire taxi insurance?
If your taxi is available for pre-booking and can be stopped on the street, public hire insurance may cover you. The top of a public hire taxi usually has a taxi sign, which is a company-owned fleet.
Private hire insurance can cover you if you drive a taxi that can’t be hailed on the street and must be booked in advance.
How do I get a quote for private hire insurance?
You will need the following information to request a quote:
- Information regarding the vehicle, its current value, when it was purchased, and where it is kept overnight
- The annual mileage for business and personal use
- Provide details about how you operate your taxi, such as the number of passengers you’re licensed for and the authority that regulates your taxi service.
- Information about all security devices, such as CCTV, Thatcham products, dash cams, two-way radios, etc.
- Individual details, such as your taxi licencing and no-claim discounts, if available
- Additional drivers’ information
- Your preferred level of coverage