Taxi insurance UK is required if you drive a taxi or own a company using taxis for business, it is designed to protect you, your vehicles, passengers and other road users. Similarly to standard car insurance, the cover is available in three different levels: comprehensive, third party only, and third party, fire & theft.
These insurance policies should not be treated as standard cover, each taxi driver will have different needs, with some companies requiring specialised policies. Many insurance brokers have left the tax market, and with few new companies joining, it can be difficult to get your hands on a cheap taxi insurance uk policy.
This has led to a decrease in affordable weekly schemes, and monthly arrangements as they no longer offer consumers the price savings that used to make them so attractive. taxi insurance in the UK is offered on a variety of policies from public hire through to contract private hire.
Taxi insurance is dependent many factors, including your claims history, so you should expect to provide your insurance broker with a full claims history and criminal record in order to give you an accurate quote. Similar to standard car insurance quotes, it is likely that a driver with no claims over a longer period will be offered a cheaper annual premium. If you hand over the wrong information you are committing a crime, so it is important to be fully aware of your records before obtaining taxi insurance in the UK.
Whatever your needs and requirements, it is highly recommended to seek a tailored quote from a reputable insurance broker. It is always worthwhile looking around at different quotes online, and contacting each provider individually to see if you can lower your annual premium.
However, whatever the price of your annual premium, before you start your new business, or take up employment as a taxi driver, it is imperative that you ensure you are adequately covered by taxi insurance to avoid any legal penalties..