Taxi Insurance

Our advice to every taxi driver is to take out the best taxi insurance policy they can afford that offers them the most protection.

Whether they run a black cab and need public hire insurance, or need private hire insurance for their PHV, they should always try to take out the policy that offers them the most protection.

Taxi drivers understandably look for the cheapest taxi insurance deal they can find – but that doesn’t mean they are getting the best cover.

There is a lot of truth in the saying you don’t know how good your insurance is until you need it. If you keep paying low premiums for years and never make a claim, you will be happy with your choice of cover.

Taxi drivers know how important it is to have the right insurance to protect their business.

By law, all cab and private hire drivers must have third-party taxi insurance as the minimum cover. This is the lowest level of insurance and means that if they at fault for a crash, the other parties involved will be covered, as well as any passengers in the cab.

Plans for a £36 million city-centre pedestrianisation scheme have come under fire from private hire taxi drivers who would be banned from the area, while black cabs would still be allowed to operate.

And STV News reports that Edinburgh Council could face legal action from at least one private hire boss who called the decision to ban PHVs “ludicrous”.

Taxi drivers hear all sorts of stories about savings and pitfalls when purchasing Taxi Insurance and there’s varying degrees of truth behind them.

As with anyone who earns their living on the road, having the right insurance is not only vital to protect their business, it is also a legal requirement.

Drivers who hit other vehicles and flee without reporting the damage cause huge inconvenience and expense to their innocent victims, especially if they are taxi drivers who rely on their cars to earn a living.

Damage to any vehicle is expensive to repair and being off the road causes huge disruption because it can affect livelihoods and lead to increased premiums if a claim is made.

Every taxi business is different which is why an insurance broker can help drivers find the right taxi insurance for their specific needs.

Buying a taxi is a huge investment, so having the right insurance in place is vital to protect the driver in the event of a claim and to get the vehicle back on the road after an accident.

Taxi drivers pay higher taxi insurance premiums because of the amount of time they spend on the road, so it is no surprise that they could face even greater costs after a claim or conviction.

But this does not mean the end of the road for good deals on their taxi insurance – as long as they are honest with their taxi insurer and taxi insurance broker, when it comes to taking out or renewing their policy.

Private hire taxi driver Raymond Woods has been a Patons Insurance customer for several years and is pleased with the service he receives.

He has been a private hire driver for 10 years and knows how important having the right insurance is to protect himself and his business.

Taxi drivers find all sorts of things in their cabs, from wallets, purses and mobile phones, to keys, jewellery and children’s toys.

Reuniting owners with their lost property isn’t always easy, especially if a taxi driver has had a busy shift and there have been several fares in and out of their cab.

Taxi insurance specialist Patons has been recognised for winning a coveted customer service award for the third time.

The Feefo Platinum Trusted Service Award is an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.

According to the office of national statistics, there are approximately 330,000 taxi drivers in the UK – so it is no surprise they are all flocking to price comparison websites to save money on their taxi insurance!

Just like most things in the UK, the taxi insurance market is changing.