What Options are Available with Taxi Insurance


If you are interested in taxi insurance, then one of the first things you should be doing is looking into all the options that are open to you and assessing which ones apply. There are now more taxi insurers in the UK than at any stage in the past. The competition in this sector of the insurance market has increased at a truly amazing rate. In fact, with the arrival of new forms of insurance competition, and insurers from the US and other countries also joining in, there are now more taxi insurance options than ever.

One of the first things you will need to decide if you are taking out taxi insurance, is whether you require only third party taxi insurance, third party fire and theft, or fully comprehensive insurance. This will probably be the most significant taxi insurance decision you will make. Not only will it determine the price of your insurance, to a large extent, but also the protection you will have. While third party insurance will only cover the claims others may wish to make on your insurance, fire and theft will give you specific cover for these two events, and fully comprehensive will give your taxi the maximum insurance possible.

Another thing you will need to decide is whether your vehicle is private hire or public hire. The use you make of the vehicle and the way you carry out business will affect the insurance premiums you are charged and you will have to tell the insurance company how you will be using the taxi.

Traditionally, it was drivers who insured their own vehicles. This would have meant for most taxi drivers, that they took out their own taxi insurance. But now, with the growth of larger business arrangements in taxi services, there will be more and more companies that wish to insure a fleet of taxis. If this is the case, you may be able to get a good discount on your taxi insurance. Insuring a fleet of taxis will mean that you are a very attractive customer for insurance companies and they may well be willing to give you better offers and options on taxi insurance in order to secure your custom.

You should also be willing to shop around for your taxi insurance. Taxi insurance quotes can vary significantly from insurer to insurer and unless you are willing to do a little research, there is quite a possibility that you will get a very raw deal, or perhaps end up with very expensive taxi insurance.

Each company that offers taxi insurance will also be able to offer you different options. Some taxi insurance companies can offer you a free breakdown recovery service. They will be able to come out and pick you up if your taxi is to breakdown. If you frequently leave the city for more remote areas, or work at night, then this will be very useful. Others offer free windscreen insurance at no extra charge. Since windscreens are probably one of the most frequent items on a taxi to get damaged this can be a big advantage.

Be aware of your options when buying taxi insurance and make sure you get the best deal available every time.


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