Taxi Fleet Insurance
Taxi fleet insurance allows you to cover numerous taxi vehicles under the same policy including black cabs, minicabs, minibuses and MPVs. Whether you are looking to insure a single taxi, two taxis or hundreds of taxis, we work with specialist companies to help find the right cover for you.
Rather than purchase a separate policy for each vehicle and have to worry about multiple renewal dates, sets of paperwork and payments – fleet insurance lets you put everything under the same account. The insurance provider is happy to receive extra business, so will likely offer a discount for every extra vehicle that you insure on the policy. We provide cover for:
- Public and private hire taxis
- Black cabs
- Taxi bases
- MPV and people carriers
- Taxi self-drive hire
As a taxi fleet insurance broker, we work with some of the leading insurers in the UK. By making an enquiry or calling us on 0800 231 5129, we can get a better idea of the cover you are looking for and find the best insurer to put you in touch with. We are always reviewing the policies available and are always on the lookout for new deals and discounts.
Information We Require
Simply call us on 0800 231 5129 and we can provide you a quote today. When speaking to one of our advisors, we will require the following information:
Vehicle makes and registration numbers
Private and Public Hire Taxi Fleet Insurance
We can provide cover for both private and public hire taxis. Private hire refers to the saloons and minicabs that you pre-order through a cab company and cannot hail on the street. These vehicles typically have a yellow sticker on the front window with the name of the taxi company and the fares they charge are set by the private hire company.
This is different to a public hire taxi which is more commonly known as a cab that you can hail in the street or wait for at a taxi rank. Commonly known as ‘hackney carriages’ or ‘black cabs,’ they have an orange light so that you can check their availability and call for one if you need it. The fares they are charged are determined by the council. (Source: manchester.gov.uk)
So if you work or operate a private hire or public hire taxi fleet, we can help get you covered. We can facilitate cover for any company or individual using their taxi for “hire and reward” which is the official term for carrying passengers or objects in exchange for money.
Passenger, Public and Employers Liability Insurance for Taxi Fleets
Taxi companies will have the choice to add the following cover to their policies and the amount of cover you require will depend on the size of your fleet and potential risks.
Passenger Liability Insurance: When carrying a passenger in one of your taxis, you have a duty of care to ensure that they will not be hurt or injured during the journey and will be taken safely to their destination. However, with several vehicles on the road at any point, there is always the chance that one of your cabs will be involved in an accident and this could cause injury to the passenger. As you will be held responsible for any damages, you can purchase passenger liability insurance which will pay for any claims made by a customer and cover any compensation, medical bills, legal fees and loss of income.
Public Liability Insurance: In a similar way, you have to think about how your drivers and minicabs could potentially impact those in the public sphere. With public liability insurance, you are able to cover any potential mishaps with members of the public including other drivers, vehicles, pedestrians and public property. For instance, if one of your taxi drivers is picking up a customer and knocks down a wall in the driveway or hits another person when reversing – this cover will pay for any repairs, replacements and damages to the individual. Depending on the size of your taxi fleet insurance, you can purchase up to £10 million worth of public liability cover.
Employer’s Liability Insurance: If you run a taxi company and have several employees, you as the business owner have a duty of care to insure these individuals and their wellbeing. This is known as employer’s liability insurance is a legal requirement for UK companies unless they are self-employed or exclusively hire members of their family. If one of your drivers faces a long-term injury because of your business activity, they have the right to demand compensation. For instance, if they are required to do heavy lifting and suffer a bad back or have strain injuries by having to work longer hours than agreed – you could face a legal battle. So this type of cover will also pay for compensation to the employee, loss of income and any legal fees you may have to pay.
Other Cover Available
As part of your taxi fleet insurance, you can also choose to add ‘any driver’ extension which means that your employees can use any of the vehicles on your fleet. This can be very useful for large companies where the cars are shared and people work different shifts – as they can simply pop in and out of the vehicles and do their job.
We also provide cover for young drivers and whilst this is usually a minimum of 25 years of age, we can introduce you to insurers that will consider drivers that are aged 21 years old.
Ways To Save Money On Your Policy
In addition to putting your policy on a fleet, there are other ways we can save you money. We will always compare the best rates and cover for you and there are usually some great introductory offers for new policies.
If your drivers are experienced and have passed several years without making a claim, there are huge discounts available in the form of a no claims bonus, which we can try use across your entire policy. With good quality drivers, you can also look at increasing your voluntary excess as it might that you will receive a lower premium provided that you and your company are willing to pay more in the event of a claim.
Other smart ways to save money including adding extra security features on your taxis to avoid them being broken into or stolen. Keeping all the vehicles in a secure garage overnight is first prize for most insurers. Otherwise, you can look at adding Thatcher alarms to your cars and minicabs as these are approved by several UK insurers.
Risk Management for Taxi Insurance
The cost of an insurance premium is based largely on the potential risk of making a claim. Therefore, for cab companies to have a professional risk management procedure in place, it can reduce the risk of making a claim and result in a lower premium.
Our qualified advisors will ask the following questions to ensure that you are managing your risks effectively:
- Do you have a driver training programme in place?
- Are your taxi licenses checked every 12 months?
- Are your drivers required by company policy to notify you of any motoring penalties?
- Do your taxi drivers take care of their own excess payments?
For taxi fleet insurance policies and quotes online, you can request a callback and someone from our team will contact you in the next 24 hours.