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Desirable & Effective Taxi Insurance Packages

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The necessity for fully comprehensive and wide-ranging cover for taxi companies has grown in recent years, especially with regard to the increasing numbers of self-employed taxi drivers, and Smarter Insurance has responded by offering ever-more desirable and effective insurance packages for taxi bases and their fleets.


Giving your peace of mind

Anyone who operates a taxi base will be familiar with the legal requirements of the licensing authorities and the Public Carriage Office with regard to adequate office liability cover. With over four decades of experience, Smarter Insurance are experts at providing the necessary cover, offering policies for taxi base premises (including non-standard premises) that include both employers and public liability insurance. Naturally, our wide range of insurance products also includes taxi fleet cover, so it’s not just your premises and staff that are covered, but also your vehicles.


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Experience & Value

Smarter Insurance has been one of the country’s leading taxi fleet insurers. We cover fleets of all sizes, beginning with just three vehicles and with no upper limit. We have a broad range of experience and have provided insurance cover for every different type of taxi and vehicle hire company. Furthermore, having relationships with the best of the UK’s insurers means that we can work together to simplify your cover and offer the best possible value.


What are the benefits of Smarter Insurance’s taxi insurance?

Not only do Smarter Insurance offer cheap taxi insurance which is flexible and tailored for your specific needs, but we make sure we cater for every eventuality. In summary, we can provide:

Taxi Base insurance

Includes cover for premises, both public and employer’s liability, as well as cover for internal risks – this includes cover for all of your computer and telephone equipment, as well as any vending machines and other costly on-site items

Taxi fleet insurance

We offer both annual and monthly taxi insurance policies to make sure that we cover your entire fleet of vehicles, including owner driver schemes through which we cover any vehicles that are owned by drivers who are featured on your fleet insurance policy

Public and private hire taxi insurance

As well as both public and private vehicle hire, we also cover mixed fleets, giving you total flexibility to run your business however you see fit, guaranteeing peace of mind that however you wish to operate, you are totally covered

Taxi self-drive hire

The Smarter Insurance taxi fleet insurance policy also covers any drivers to whom you rent vehicles (so long as they are over 25 years old)

Inexperienced drivers and newly qualified badge holders

We also specialise in providing cover to younger, less experienced taxi drivers and those who only received their badge in the past two years

Multi-purpose vehicle insurance

We can provide cover for MPVs that have as many as 16 seats

Coach insurance

Coaches can be included as part the Smarter Insurance of taxi fleet policy


Making insurance easy for you

Smarter Insurance make taxi insurance easy, with affordable rates and a team of experts who are devoted to getting you the right insurance cover for your individual needs, as well as the best available telematics software.

For immediate cover, contact our friendly team on 03334 000610, or fill in our online form to request a taxi insurance quote.

Is there a difference between single driver and fleet taxi insurance?
Why is a taxi insurance policy considered to be more high risk?
Will my policy cover me for driving all over the UK?
Do public and private hire taxi companies need different insurance?
If I have a disabled access taxi does this make a difference to my premium?
Do I need liability insurance?
What are the best taxi vehicles?

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.

Why is a taxi insurance policy considered to be more high risk?

Taxi insurance policies are more expensive than a standard private policy because insurers perceive an inflated risk of accident and they adjust the premium price accordingly.

There are several reasons for taxiing being perceived as a high risk job in terms of chances of making a claim.

Firstly taxis typically work unsociable hours such as night shifts and accident rates are high in the evenings due to tiredness, poor vision and drink driving prevalence.

They also usually work in inner city areas especially public taxis who pick up from towns where there is a high volume of people. This means more traffic on the roads and more people so there is an increased chance of an accident involving another vehicle or a member of the public.

Working with the public poses other risks especially for public taxis. They will have a vast client base and often taxi people who are under the influence of alcohol which makes the client base unpredictable. Accidents involving members of the public will usually be very costly to a business.

A taxi will typically drive more miles than a normal car as the job is purely based on travelling to different locations. This means their mileage will be very high and more time on the roads means more chance of an accident.

All these factors contribute to taxi policies being considered as high risk and the subsequent inflated premiums.

Will my policy cover me for driving all over the UK?

Not necessarily, most companies will give you designated areas within which you are covered to drive in. Taxi insurers tend to be regional and will only cover a specific city or area. If you plan on delivering a long distance taxi service then you will need to mention this to your insurer to extend your location.

Most UK taxi insurance policies exclude Northern Ireland so you will need to speak to an insurer in Northern Ireland if this is where you wish to drive.

Other companies will exclude certain areas they consider high risk such as inner city areas in London, high crime areas or town centres due to increased chance of accidents. Others exclude rural areas because of the increased mileage and restricted business use. It can be difficult to find insurers that will cover you in such areas but some companies are more flexible than others.

When you buy taxi insurance make sure that you highlight the areas you might potentially be driving in so your insurer factors this into your policy. Some areas will be more expensive to cover than others based on crime rates and chances of an accident. It is very important to check your terms and conditions on this matter because if you have an accident in a place you are not covered to drive in, your insurance will be invalid and you will be unable to claim.

Do public and private hire taxi companies need different insurance?

Yes, public and private hire taxis require different insurance or a combined policy if you have plans to provide both services.

Public taxis are vehicles that can do immediate pickups off the street by being ‘flagged down’ such as black cabs in London. These are licensed by the council to take fares from people on the streets.

Private taxis are vehicles that have to be pre-booked and must pick up from and drop off at prearranged destinations. They cannot be hailed on the streets by the public. These are popular for events or for larger groups that may need a minibus.

There are different levels of risk involved with these types of work which could affect the cost. Private hire tends to be older or more valuable vehicles than public hire so this could impact your policy. However public may be considered higher risk in terms of client base and working hours. The type of insurance will vary in price but other factors such as location and mileage tend to be more influential.

If you are still unsure of the type of insurance you need then speak to a taxi insurance expert about your requirements to make sure you get the correct policy.

If I have a disabled access taxi does this make a difference to my premium?

You should make your insurer aware if your taxi is a disabled access vehicle just to ensure you cover your own back in the instance of an accident. They should ask you during the quotation process whether your vehicle has any modifications and this is the time to mention it.

Some insurance companies would consider disabled access as a modification to the vehicle because it can mean removing seats, adding straps and adding ramps to the vehicle. This affects the value of the car as they have to cover the value of the modifications in the premium. This means they might charge more because if there was an accident a disabled access taxi would be more expensive to repair or replace.

It is always best to check with your insurer because this policy may differ between companies so it may be worth shopping around or speaking to a specialist.

Do I need liability insurance?

As a taxi driver you will be encountering members of the public in your day to day duties. This means that public liability insurance is a requirement. If you were to have an accident involving a member of the public then they are likely to claim against you or your company. Public liability insurance protects you in this instance and will pay for legal and medical costs that come with a claim.

If you own a taxi company with employees who drive your vehicles, then you will also need employers’ liability insurance. The law requires that you have at least £5 million worth of employers’ liability insurance because if an employee were to have an accident at work or develop an illness because of working conditions then this can lead to expensive claims against your business.

You may need both types of insurance and you can buy these as a package deal with combined taxi insurance or you can buy the products separately if you only need one of the above.

What are the best taxi vehicles?

Taxi insurance premiums vary depending on the vehicle you are insuring. Newer but cheaper vehicles will get you the best value insurance as they are less likely to break down but are also not too expensive to repair.

Saloon and estate cars are probably the most popular types of taxis but different businesses may have deals or contracts with specific models of car.

The desired qualities in terms of providing a taxi service would have to be allowing for at least 4 passengers in addition to the driver to maximise the client base. Cars with larger boots are better for luggage space and will not restrict you from doing journeys such as airport drop offs.

Diesel cars are more economical so these tend to be more popular when high mileage is a big part of the job.

Many taxi companies will have a range of vehicles including MPVs and minibuses but you will have to specify these to your insurer as they will be worth more than normal cars.

A Guide to Single Taxi Insurance

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