Difference Between Private and Public Hire Taxi Insurance

1
Difference Between Private Public Hire Taxi
Insurance
2

• Beyond simple vehicle insurance, taxi insurance
  is something that all taxi drivers need to
  consider. Since your vehicle is your only source
  of income, so as a taxi driver it is vital to
  have the right cover to ensure that both you and
  your vehicle are safe to be on the roads carrying
  passengers at all times and you dont have to
  refuse any business coming your way. Getting
  insurance makes you sure that your flow of income
  is regular.

3
Types of Taxis

• When it comes to Taxi Insurance, you will hold a
  license against two separate categories. These
  are public hire and private hire vehicles. A
  public hire vehicle is the type of taxi that is
  licenced as a hackney carriage and may be flagged
  down at the side of the road. These vehicles are
  the cabs that do not need to be pre-booked.
  However, a private hire vehicle often takes the
  shape of a typical car and are more common.
  Private hire vehicles need to be pre-booked first
  and cannot be hailed down at the side of the
  road. Uber is a typical form of a private hire
  taxi.

4

• Both Private Hire Taxi Insurance and public hire
  taxi insurance include a level of cover that
  allows carrying members of the public and their
  belongings for a fee.
• Once your vehicle is insured your licensing
  authority will require a copy of your insurance
  certificate. So, it is vital that when applying
  for your licence to your local authority, you are
  required to apply for the correct type of licence.

5
Which Is More Expensive?

• Generally speaking, public hire insurance is more
  expensive. Why it is more expensive is because of
  the reason that public hire taxi drivers rely on
  being in the right place at the right time to be
  hailed down directly on the road. For example,
  they are usually operated in busier areas such
  as busy towns or city centres.

6

• Statistically, drivers who operate in busy areas
  are likely to be involved in an accident,
  especially where quick lane changing to pick us a
  passenger is required.
• Whereas, public cab drivers are more likely to
  pick up a scoundrel passenger who could
  potentially damage their taxi. These drivers may
  pick up a passenger drunk from a night out.
  Public hire taxi drivers often carry a large
  level of cash and are more likely to be targeted
  by the robbers.

7
(No Transcript)