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What Do You Need to Know About Minicab Insurance?

As a taxi or cab driver, you need to purchase a specific insurance policy to protect your taxi. Your taxi is not just like your own car, but it is a source of income for you and your family. Here are some guidelines you need to know if you want to purchase an insurance policy […]


As a taxi or cab driver, you need to purchase a specific insurance policy to protect your taxi. Your taxi is not just like your own car, but it is a source of income for you and your family.

Here are some guidelines you need to know if you want to purchase an insurance policy for your taxi or regular motor vehicle. As a taxi comes under public or commercial use that’s why you need a specific type of insurance coverage for such type of vehicles.

Insurance policy for a taxi would be different from other types of vehicles. If you are using a car for regular use than a regular cover would not be enough for your cab or taxi. To get the insurance cover is a legal requirement before you take passengers for a ride for the protection of passengers and drivers.

Many insurance companies provide insurance covers such as taxi insurance, Minicab Insurance for public use transport. You are required to pay for insurance cover according to your vehicle value.

Generally, there are two types of vehicles i.e. Public hire and Private hire

Public Hire:

Public or commercial use taxi hail down the passengers directly from the streets and are not pre-booked. These taxis pick up passengers from local spots and stations easily. It is necessary to show up the card or license before you pick the passengers up for a ride or you need to show “taxi” symbol right at the front of your vehicle. you also need to pay for an insurance policy before using your car for public use.

Private Hire:

Private hire taxis pick the passengers up who have booked the ride in advance. These taxis pick up the passengers from specific points and locations. A private taxi driver cannot pick up passengers from local stations or without booking.

Restrictions for Getting the Insurance Covers:

You can get insurance cover only if you are:

  • Citizen of the UK since last five years.
  • Holding a valid driving license for a taxi.
  • Only a taxi driver and do not do another job as your profession.
  • At least twenty-five years old.
  • Taxi badge holder from the last twelve months

Types of Cover for Taxi Insurance:

There are 3 types of insurance coverages such as public, personal and unlimited use according to your car and working timings. This insurance coverage also covers all legal compensations as it is a standard policy for all taxis. Make sure to check all the requirements before you purchase the insurance policy because all covers do not provide all benefits.

Personal insurance cover provides policy in case if you are not driving a taxi professionally but just one weekend or for 2-3 days.

However, the unlimited cover provides taxi insurance for maximum usage. As a taxi driver, you cover more miles, so you need to pay more for these types of cover.

Things You Need to Know while purchasing Minicab Insurance

If you have experience in minicab driving, then you would probably know Minicab Insurance is important to insure than insuring an equivalent transport or vehicle for domestic use. While talking about ordinary cars that are not much expensive and can save as much as 60%, 70%, or even 80% as compared to ensuring the same transport or vehicle you use as a minicab.

Best Insurance Policy:

The private hire transport vehicles would compare a lot of minibus insurance quotes from a varied policy of PHV insurers before they decide which firm to go for. This might also help you to get the best and suitable insurance policy at the cheapest possible prices.

Multiple Range of Taxi Insurers:

Instead of comparing quotes from a wide of different taxi insurers, there are various other ways you can adopt to reduce the cost of your insurance cover to enhance the likelihood that minicab insurance quotes could also cheaper.

Compare Large Range of Quotes:

If you find the auto-renew quotes for your minicab insurance cover compared to the quotes offered by a new insurance provider. Therefore, it is better and suitable not to allow your existing minicab insurance policy to renew automatically. To get the best and suitable at the cheapest price you need to compare a lot of quotes for PHV insurance every year.

You Need to Park Your Minibus Carefully:

If you are driving over the roads of London or if you’re driving your taxi in a small village or town, then you need to park your minicab at the side of the road always when you are not on your duty. You need to do this to reduce the risk of your car being vandalized or broken by thieves. If you park your car in a street that is crowded. A crowded street enhances the risk of the vehicle to be more involved in an accident. So, if you are driving minicab, you need to purchase Minicab Insurance to protect your vehicle and your passengers.

Don’t Go for Monthly Insurance Payments:

It might look easy to you to pay your insurance premium on a monthly basis, however, for a long time, it would let you pay more cost. By selecting to pay for your full policy upfront each year you can save a lot of your money on your premium.

Do Not Choose Imported Cars:

So, imported cars are sometimes costly to insure, same as this to the other high-end motors. If you are searching for cheaper insurance for your vehicle or transport, then you must need to choose reliable minicab vehicle so that it would also give you benefit and can reduce your cost.

How Much Would It Cost You to Insure Minicab?

The premium for your insurance would be based on some things such as the type of minicab you have, age of the vehicle, how long you have held your license and how many points you have your points on your license, where you live and work or if you have no claims bonus. Since there are many factors affecting the cost of insuring your minicab then you could also get the best price deal for your own special transport or vehicle is by comparing a range of insurance quotes.

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Daniel Jack

For Daniel, journalism is a way of life. He lives and breathes art and anything even remotely related to it. Politics, Cinema, books, music, fashion are a part of his lifestyle.