Here is a comprehensive guide to London taxi insurance,
London’s famous taxi Black Cab insurance is created exclusively for drivers who have fulfilled the Expertise of London assessment. Unlike most people, your car is your source of earnings for you, thus you and your vehicle must be adequately insured and protected against the hazards you experience as a professional driver. Most cab driving occurs at inconvenient times, primarily in congested inner-city locations, when you are statistically more likely to be involved in an accident.
Cab drivers also travel more kilometres than the average motorist, putting them at a greater risk of being involved in an accident while on the job. It’s critical to obtain the correct insurance coverage to fit your demands, which might vary significantly.
There are several ways in which policies might differ, including:
- Drivers’ ages are considered, with a common minimum driver age of 25.
- The number of miles driven in a year is limited.
- Maximum number of hours per day spent driving
- Regional Policies – removing specific cities from coverage
The cost of insurance varies depending on who drives the car:
Named motorist policy includes: If you have a few drivers or your taxi is also your family car, an Identified Driver policy allows a number of expressly named persons to operate the vehicle.
Any Driver strategy: it enables anyone within your company to drive your car, and this is the most frequent option for taxi firms with many drivers.
Sole-Driver Regulations The most popular type of London Black Cab Insurance is when the automobile can only be driven by the owner.
Who should obtain London taxi insurance?
A Black Cab insurance policy is required for every Taxi driver that operates a conventional London or Hackney Carriage Taxicab. You’ll need specific coverage if you operate on the streets and welcome passengers who haven’t pre-booked their trip.
All drivers in the United Kingdom are required by law to have a motor insurance policy.
If you drive people for a living, however, you’ll need a Competent Motorists Insurance Plan, or more precisely, a Black Cab Insurance Policy, which covers you for transporting passengers for employment and reward.
Our Brokers’ black cab insurance may be customized to meet your specific needs and conditions. We realize how important your taxi is to you, and if it’s broken down, we’ll come to your rescue.
What are the essential components of a Black Cab Insurance plan?
If you work as a London Black Cab driver, it’s critical to ensure that you meet all of the legal criteria. When it comes to driving a Uk cab, having conventional auto insurance coverage, such as one for your family car, is unacceptable.
There are two parts to Black Cab insurance that must be included:
Liability to the public
Despite the fact that your taxi is not a normal office building or workplace, it will still be your place of business, and you are responsible for anybody who rides in it. If a customer is injured or their property is damaged in your taxi and you are at fault, public liability insurance will cover you.
Liability of Employers
Employer Liability (EL) insurance is a mandatory obligation in the United Kingdom if you employ anybody in the country, even if they just work part-time or on a volunteer basis. This provides coverage in the event that an employee is injured as a clear result of working for you. Last year, more than a quarter of all road traffic accidents included drivers who were on the job, so this coverage is vital if you have any workers.
Additional types of insurance you might need
Depending on your business, you may require different forms of insurance as a cab driver. You may need extended versions of policies the ones with more benefits to secure your business The following are the most common forms of insurance:
Breakdown and Roadside Assistance
If you break down on the side of the road, you’ll need to get your car started again. Cover may also arrange for any passengers in the car to be transported forward to their destinations.
Start Recovering at Home
If your taxi won’t start and you can’t get to work, we’ll come to your house to help.