Business, pleasure and lifestyle – why Taxi Insurance is crucial
Your taxi is not just your means of an income; it is much more than that. From ferrying your kids to the football on a Saturday morning to dropping off revellers back home in the early hours of the morning, your vehicle very much transcends between your private and professional life. That is why, as many in the industry will know, the importance of taxi insurance is the equivalent to a Digestive biscuit with a cup of tea on a rainy December evening.
As a taxi driver, it is obvious that you will spend large amounts of time on the road, whether that is at work or with family and friends. As such, your vehicle is susceptible to a larger variety of risks than sweets found in a bag of liquorice all sorts, so making sure you are not caught short is absolutely critical.
If you are one of those drivers that are using their car for dual purposes, getting hold of a taxi insurance policy that caters for those needs can be flummoxing. With the increased amount of use and the raised number of risks that you are potentially exposed to on a daily basis, premium levels will change accordingly so you should be budgeting with a mind on frugality. Though there are these drawbacks, there are a number of sophisticated, expert firms out there that could make your life easy but it is down to you to find them.
And that leads somewhat cutely onto the most important piece of advice that you could potentially need when insurance shopping: doing your research. Though you may be looking for a straightforward minicab insurance policy, there will be a variation upon that introduced by every company you approach. Therefore the importance of shopping around is evident – you’ll never know what else is out there unless, and until, you actively go to seek it. There is nothing stopping you from playing companies off against one another – after all, this is business, and the business world is a competitive world so get ruthless.
After you’ve come to an arrangement for your basic level taxi insurance, it is time to start to thinking about the trimmings; like a Sunday roast. Whether it is public liability, breakdown cover or GAP cover, you should be thinking extensively about your wider needs. In the first instance, in an environment where you be dealing with passengers on a daily basis, there welfare will be of great importance to you so many drivers opt for public liability insurance as standard these days.
Though, in some cases, premiums may be higher (especially for private hire vehicles, due to the large amount of time spent on the road) you have to balance that outlay with legal requirements enforced upon you. There will be guidelines issued by your council, licensing authority and maybe your company – often conflicting – so you should do your upmost to make sure you are fully compliant. Failure to do so will only result in time and money lost further than the road, so best to get your taxi insurance right first time round.
So, you can clearly see that a well-oiled minicab insurance deal is a must should you be heading into the liberating world of self-employment as a taxi operator. Don’t be lazy, stingy or naive – the ball is firmly in your court, so get playing!