Public Hire Taxi Insurance

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As a taxi driver your vehicle is your livelihood, and that means you need to do everything you can to protect your income. That’s why public hire taxi insurance is so important—not only is it a legal obligation but it makes sound financial sense as much as anything else, giving you a valuable safety net to ensure you don’t lose out should the worst happen.

What is public hire taxi insurance?

Public hire taxi insurance is exactly what it says on the tin—it’s a kind of insurance that’s been specifically designed for vehicles that operate on a hire and reward basis, and unlike with private hire insurance it allows you to pick up customers on the street without any pre-booking.

At its heart it operates in much the same way as any other kind of vehicle insurance, with third party, third party fire and theft and fully comp being the three base levels of cover, but given the somewhat risky nature of the business (you’ll be on the road far more often than regular vehicles and will also be responsible for members of the public) it may be best to go for the most comprehensive level of cover you can reasonably afford.

Be prepared with the right public hire taxi insurance policy

It’s a good idea to be prepared whenever you’re on the road, because you never know what could be around the corner. Things like breakdown assistance, windscreen protection and replacement vehicle cover may be worth including in your policy, and given the fact you’re dealing with members of the public there’s one other feature thay you may wish to consider and that is public liability cover.

If anyone were to be injured or their property damaged whilst in your vehicle you could be held liable, and if you want to ensure you won’t bear the brunt of any costs it’s important to have this level of cover in place. Compensation claims, medical fees and legal expenses can quickly escalate, as could costs of accidents or breakdown recovery, so don’t run the risk of losing out—it’s all about putting plans in place to reduce the financial impact should things go wrong, making adequate level of cover an important consideration.