Features You Must Consider in A Taxi Insurance Policy


Taxi insurance cost-cutting can make a major difference to the profitability of your taxi or private hire car business. This is not easy to avail the best insurance deals of the taxi. Taxi cover is a special domain that requires both detailed bits of knowledge of industry and ability to access best taxi policies.
There are certain types of taxi insurance policy that offer a different level of cover. Before going for an insurance policy, you need to get decided your domain either want Private Hire Taxi Insurance or public hire insurance. Private hire insurance is best for those taxies and cabs which need to be pre-booked. This is for those vehicles which you cannot be hailed on the streets or cannot accept paying passengers. It's only for those who make prior arrangement. On the other hand, public hire insurance can be hailed from the streets. These are also known as a hackney carriage. Public hire insurance is cheaper than a private one.


Taxi insurance has variation which can reduce your premium according to coverage. In the circumstance of cab and hackney carriage insurance the most common insurance is the following:

Policy Only:
The policy only is insurance policy which gives coverage only who are availing the policy. It will be a cheap policy because there will be no extra fare insurance and public liability insurance in this policy.

Named Driver:

This type of insurance policy is best if you are the only owner of a single cab. It gives you space to name drivers of a taxi in which there can be just you or extended to other drivers. Addition of another driver can raise the premium, especially if they have any claim in the record. That’s why give name carefully and wisely.

All Taxi Driver:
In this policy, any driver can drive your taxi. the insurance company only allow for driving above 25 years. This policy is best for those companies which have multiple vehicles and need multiple drivers. But its best go for fleet insurance if you own more than one vehicle. It will be cost-effective and beneficial.

Location Matters:

One of fine the factor while deciding insurance policy for a taxi is where you are driving vehicle. As central London is densely populated, there will be insurance premium more. There are hard to find reasonable insurance, you must avail special taxi insurance in this case, for example, coverture Watford.

Security Installation:

Taxi insurance can be reduced by installing security modification. Like you can install dash cams, CCTV and tracker. If you can prove, you park your vehicle at the safe location it can also lessen your premium.

Mileage cover:

Your mileage also effects at your premium. If you add limitations of miles, it can also reduce premium but make it sure if you have any modification in mileage cover, inform to company otherwise, you can be claimed.
These are guidelines which are best in a taxi insurance policy. You may follow these for your ease.

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