The UK has thousands of taxis that are used on the roads each day. With so many of them about, it is a certainty by the law of averages that there are going to be a lot of accidents involving taxis each year. For this reason, it is vitally important that if you are driving a taxi you have got a proper taxi insurance policy. If you take out sub-standard taxi cover you are leaving yourself open to massive problems in the event of an accident occurring.
Some people may think that they can get away with having a normal, private policy when they are driving a taxi but this is not the case. If you insure your car under a normal policy and then use the vehicle as a taxi then you will invalidate the cover that you have got and will also be breaking the law. Getting caught without the correct cover can mean you lose your licence/livelihood and in a worst case scenario you will be heavily fined and possibly even jailed.
Not taking out full taxi cover means that any passengers you carry in the vehicle will not be insured either. This can lead to civil and/or criminal court cases where you may be found liable for any injury or material costs. You therefore are putting not only yourself at risk but also those people who are unknowingly using your illegitimate services.
If you are a taxi driver then your vehicle is your breadwinner, so it makes sense for you to make sure that you are going to be covered in the event of an accident. If you were without your vehicle for any length of time or had your licence taken off you then your source of income has gone. Taking out taxi insurance may end up costing you a little more initially but in the long run it is an additional cost that you cannot afford to ignore.
So, if you are looking to take out a hire insurance policy it’s worthwhile doing some research to make sure you get what you need. Public liability insurance, a 24hr claims service and a replacement plated vehicle are just some of the things a quality taxi policy should include. If in doubt always ask your broker.
Think Insurance – Quality, Service and Price