Get Taxi Insurance for Your Whole Company - Here's why

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Taxi insurance is not only designed for the sole trader, but it is the ideal choice for the larger cab companies that have a number of vehicles on the road at any given time.

One of the most important aspects of your business are your vehicles, if one of them is involved in an accident it will not only cost you money that will mean that there is one vehicle not making you any money at all.

As you know the legal requirement to drive on the UK roads is a minimum of third party cover, but as a business person you also know this level of cover is not enough should one of your vehicles be involved in an accident.

When you apply for this level of cover you will be given three choices; third party, third party, fire and theft and comprehensive.  The third party options only cover any third party vehicle for property involved in an accident caused by your driver, you will not cover your cab.

So it is easy to see a comprehensive cover is the most logical and practical choice, protecting both your own vehicles and any third party property more vehicles.

The benefit of this level of cover is that you can add all your cabs under one policy, this makes it more affordable, practical and convenient.  You only have one policy number to remember, when phone number to phone and one claims process to go through.

You also want the peace of mind that your driver’s are protected at all times.  In the event of an accident and should your driver be seriously injured you can a claim against you, which is why you need have adequate cover in place.

When selecting drivers for your business is important to ensure that they are over the age of twenty five, they have clean driving licences and a noclaims bonus, bonus on their private policy.  These three things prove to the broker that your drivers are not a risk.

Of course incomes your biggest risk, transporting passengers.  For this you need a good level of public liability cover.  If one of your cabs are involved in an accident while transporting a passenger this can end up with a large claim against you.  A public liability claim against you is a claim you legally responsible for and they can amount of thousands, leaving your business in serious financial difficulty.

So whether you have one cab were a number of cabs, taxi insurance offers you the full level of protection, convenience and money saving ability that your business needs.

Does Taxi Insurance Differ Between City and Country?

-->Where you run your business will greatly affect your taxi insurance. If you are a one man show that offers a transportation service in the country you will pay less than if you were a black cab in the heart of London.

Many feel it unfair that the premium prices vary so dramatically depending on location, but in reality you will find a lot more accidents in London than you will in a small village area or town on the outskirts of the city.

There are other aspects that will influence your premium as well. If you are the sole driver for your company you will pay dramatically less than if you had a fleet of vehicles with a host of drivers. Each driver adds to the premium, so if you are a sole driver and need assistance, ensure that the driver you choose to help you has a clean driving license and is over twenty five years old, so they are not considered a risk to the broker.

The reason that drivers under twenty five are considered such a risk to brokers is that a majority of accidents on the UK roads are caused by younger drivers. You will also need to take your own driving license into consideration. In order to keep your premiums to a minimum to you will need a clean driving license, if you have a private no claims bonus from before you started your business, this will help reassure the broker that you are a safe and risk free driver.

Whether you work in the city areas or in the quiet and picturesque countryside, there is one more way to ensure you pay a lower premium. For companies that only transport planned drives, for example if you only accept transport for customers who phone in to book, you reduce your premium.

Companies that will pick up anyone on the side of the road and transport them to their destination is considered a higher risk. Now it's obvious that you cannot always control this, but if you try and ensure that you only transport planned bookings, it won't matter where you are located, your premium will be reduced.

Try and keep the number of drivers you have on the policy to a minimum even if you are a company in the heart of a bustling city. The less drivers you add, the lower your premium will be. Try and co-ordinate your drivers working hours to maximise their workload and reduce the number of drivers you need on a daily basis, this way you can enjoy reduced taxi insurance whether you are in the city or villages.