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To ensure you have the most competitive quotations, which meet legal requirements and your business needs there are many different insurance options available, as well as many deciding factors which you will need to take into consideration before agreeing to an insurance policy.

If you operate a old taxi it may be worth insuring it for Third part Only. This will meet the legal minimum requirements, however it will only provide cover for the third party not for any damage sustained to your taxi. Neither will it provide cover for breakdowns, glass, fire damage or theft.

Depending on where you operate your taxi service in the UK this basic level of insurance cover may not be available to you. The reason for this is that those who operate in high risk areas such has those parts of the country which have renowned high car crime or vehicle theft makes this option too much of a risk for the insurance companies.

What they may offer is the next level of insurance which is Third Party, Fire and Theft or recommend that you opt for comprehensive cover if you own a newer vehicle with a high replacement cost.

Discussing your individual options and needs is the best course of action. Online insurance companies have call back services as well as online quotation forms for you to see all available options and make realistic price comparisons before agreeing to any one policy.

Alternatively you could you the services of an insurance broker who will obtain a number of quotes from different insurance companies who specialise in meeting the needs of taxi companies.

Taxi firms will also need to have Public Liability cover. This is not usually included within the quotation, it is classed as an optional extra, however all local authorities will not issue taxi licenses without proof of having sufficient Public Liability Insurance to safe guard both the taxi driver, employer and members of the public.

Any taxi firm which employs drivers will also need to have Employer’s Liability cover, again this is not typically part of an insurance quote unless you make this clear to the insurance companies when asking for quotes, however it is a legal requirement that all employers look after the best interest of their employees.

Each of these additional insurance options will automatically increase the overall cost of the insurance, but it worth knowing that you do not necessarily have to use the same insurance company to obtain these. However, having all aspects of your insurance handled by the same insurance company makes logical sense and in many cases will be a more cost effective way of insuring your taxi or taxis as discounts may be available.

It is also worth realising that the insurance companies are in direct competition with each other! They want you custom and will offer some very enticing incentives to draw your attention to them! As such it is imperative that you read the small print carefully and ask questions if this is any aspect or technical jargon you do not understand before committing to buying a taxi insurance policy.

DNA Insurance offer very competitive Taxi Insurance offers

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