Do taxi companies pay insurance?
As a taxi driver, you’ll need to have a Taxi Insurance policy in order to use your vehicle to carry passengers for reward. If you have specific requirements, for example your taxi business owns a number of vehicles, Taxi Fleet Insurance is available.
What type of insurance do I need for private hire taxi?
The most important cover for a private hire taxi is road risks. Having this is essential and will make your taxi road legal. Other important types of private hire taxi cover that you should seriously consider include public liability insurance, personal injury, loss of licence and breakdown assistance.
How much does taxi insurance cost UK?
Depending on your experience, years without claims, convictions, car details or other important information, prices do vary. Private hire insurance could cost between £1500 and £3500 per year for comprehensive private hire insurance cover.
Why is taxi insurance so expensive?
Why is taxi insurance so expensive? Taxi drivers, due to the nature of their work, rack up pretty serious mileage, often at unsociable hours and in built-up areas, statistically increasing the risk of accident and therefore the price of insurance.
Does LV do taxi insurance?
We also offer optional extras, such as Taxi Liability Insurance.
Can you drive a car with taxi insurance?
Unlike comprehensive personal motor insurance cover, comprehensive taxi insurance does not protect you if you drive another vehicle with comprehensive cover.
Do taxi drivers need public liability insurance?
Public Liability for taxi drivers is not a legal requirement, but it is something that is strongly recommended when carrying passengers for commercial use.
What is PHV insurance?
Private Hire Vehicle (PHV) Car Insurance.
Is it worth being a taxi driver UK?
Overall, the UK’s taxi drivers are a much more varied and skilled group of people than most people realise. Certainly if you’re a people person or like being left to your own devices without too much interference, then the taxi trade could be a great choice for your career.