Taxi Insurance UK

Another segment of commercial vehicle insurance is taxi insurance or taxi fleet insurance. This type of insurance can cover one taxi or a whole fleet of taxis, depending on what your needs are. Commercial vehicle insurance is a growing segment of the insurance market, so it does pay to research and shop around for policies, especially if you are looking to insure a whole fleet of taxis!

As with many commercial vehicle insurance policies, be careful what policy you buy because many policies are extremely specific and will limit your coverage. Taxi insurance is considered to be one of the more expensive commercial vehicle insurance covers to buy and comparing policies is going to be a key to getting the best cover for your money. However, remember that you get what you pay for. If you find extremely cheap taxi insurance, read the policy carefully, as you may only be getting very limited coverage. For example, some policies will limit cover to metered taxi business and not private hire. This is true when comparing taxi insurance policies as well, don't just look at the premium, look specifically at the monetary amounts insured and the events that you are insured against, when comparing policies. Look at things like out-of-pocket expenses or deductibles and maximum coverage amounts. This is where it pays to read the fine print.

Taxi insurance is a very specific form of insurance and the cover and premiums will vary greatly. Just like regular car insurance, you can get the bare minimum or the ultimate comprehensive coverage. Some of the cover you should be looking at if you are operating a taxi or a fleet of taxis is insurance that will cover loss of earnings or hire fees. These may be key to your business' survival, if you taxi is out of commission due to an accident. These are above the accident or theft cover you will be looking at. Also, many specialist taxi insurance companies can offer you a better range of cover, which means that you get more for each pound you spend.