Is there a difference between single driver and fleet taxi insurance?
Yes, fleet insurance and single driver are two separate types of policy although they typically cover similar things.
Single taxi cover works similarly to private insurance where you insure one vehicle in the name of one person. This can work well for self-employed single driver taxi drivers, small companies or start-ups. This is also useful when you have vehicles that are not registered under the business name such as employee owned vehicles, as these would not qualify for fleet insurance.
A fleet typically covers 3 or more vehicles but some companies will offer fleet insurance for as few as 2 taxis. This allows you to cover all of your company vehicles under one policy and you can have an ‘any vehicle’ or ‘any driver’ policy which means you do not have to specify the driver or vehicle before opening the policy.
If you have a large taxi company, fleet insurance allows you to cover hundreds or even thousands of vehicles under one policy which saves the complications of having individual policies for each vehicle and driver.
The type of insurance you have is dependent on your business needs, larger businesses tend to use fleet insurance and single taxi drivers would be better off with a single driver policy. If you are unsure which suits you better, then speak to a taxi insurance expert for advice.