Being part of the millions of motorists on the roads today, having taxi liability insurance, not only protects the driver, but also the passengers and other road users too. It is a prerequisite of anyone in the taxiing business to have current and sufficient insurance cover.
There are many factors which affect the cost of taxi liability insurance. The age and experience of the driver can affect the cost, as generally speaking, the older and more experienced driver will pay less. The policy is the same, from the same company, only the cost varies. The area in which the taxi driver earns a living can also affect it. Whether there are high accidents statistics or poor transport links it can give the area a higher risk than others.
This brings us to the paying passengers. Having taxi liability insurance will cover the driver and company if an accident should occur. This creates peace of mind because in the event of a fatal accident, as the company would be liable to a huge payout to the deceased family. As the vehicle would be damaged, taxi drivers can buy a Business Interruption Policy. This covers the loss of income from being without the toll of the trade.
Not only is it a legal obligation to have the correct insurance, but a morally correct issue too. Any uninsured driver is a detriment to other motorists. This minority, who sometimes have accidents, causes premiums to increase. As taxi drivers are in the high risk bracket anyway, due to the amount of road time they incur, any increase in premium costs will have a knock on effect down to the customer.
There is a high emphasis on drivers having taxi liability insurance. This is due to the legal issues and adhering to basic social standards. Customers in a taxi vehicle have no control over it. Therefore, if an accident should occur, it cannot be their fault and as a result they need to be able to depend on an insurer. This is of course down to the company or self employed taxi driver.
| Insurer | Outstanding Features | Quote |
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Private and public hire vehicles single or fleet cover, Bonus earning schemes available, 3, 6 and 12 month policies, Flexible Payment Options, Cover available nationwide, Minibuses, MPV and coach cover. £100 cashback or free breakdown for new customers! Terms and Conditions may apply. | Freephone Quoteline 0800 466 1989 |