Thinking of Working as a Taxi Driver? Here’s What You Need to Know About Insurance

There are lots of reasons to be envious of taxi drivers. Driving a taxi is a job that has very few entry requirements, most of those that can drive can earn a taxi licence. Despite of how accessible it is as a potential career path, working as a taxi driver offers a rare combination of flexible working hours, excellent pay and a job that really speaks to those that enjoy working with other people.

Taxi drivers are faced with new people, situations and locations every day. What a taxi driver does, driving people from A to B, might not sound very exciting. However, if you’re the kind of person who enjoys meeting new people and interacting on a personal levels with your customers, there are few jobs that offer the same potential as being a taxi driver.

Naturally, if you want to work as a taxi driver, you will need to have car insurance for your vehicle. Taxi insurance is a legal requirement for cars that are being used as taxis or hire vehicles, and most car insurance policies won’t cover you if you are using your vehicle in a commercial capacity.

Here’s everything that someone considering taking the leap and becoming a taxi driver needs to know about taxi insurance.

What’s the Difference Between Car Insurance and Taxi Insurance?

The principle of both car insurance and taxi insurance is essentially the same. Both types of insurance exist to protect vehicle owners financially from any accidents they are involved in or any breakdowns and other issues their car might have. However, insuring a private hire vehicle like a taxi is much more expensive than insuring your personal vehicle.

How Much Does Taxi Insurance Cost?

As with other types of car insurance, the cost of insuring a taxi can vary wildly according to a number of different factors. The usual factors that affect the cost of car insurance will be in play. For example, the age of the driver, the make and model of the car that is being insured, and the record of the driver or business making the application will all have an effect on the final cost.

The area where you plan to work will impact the cost of your insurance as well. If you are going to be working in a busy city centre where accidents are more likely, you will have to pay higher premiums than someone who is going to be working in a quiet rural area. The place you plan on parking your vehicle when not in use is another factor that will affect the cost of your insurance.

If you are going to be parking your vehicle in a dedicated off-road parking spot or garage, you won’t have to pay premiums as high as someone who is going to be parking their vehicle at the side of the road in a large city.

Can I Buy Taxi Insurance Online?

Looking online for taxi insurance is a good idea because you can easily compare the various packages available to you. For example, Quotezone.co.uk is a great site for comparing the costs of taxi insurance from a variety of taxi insurance providers.

How Can I Keep My Costs Down?

Insuring your private hire vehicle is an unavoidable cost. However, there are a number of simple things that anyone can do in order to reduce the cost of their insurance premiums. For example, having a clean driving licence will ensure that you pay as little as possible for your insurance. If you drive sensibly, obey the rules of the road and avoid getting into any accidents or being caught speeding, you will find it easy to remain a good driver on paper.

You should also regularly have your vehicle serviced to ensure that it is in perfect working order and that it provides a safe and comfortable ride for your passengers. Aim to have your vehicle serviced every so often, set yourself a specific timeframe, such as once every 6 months, or once every year for a full check-up.

You can also choose a vehicle specifically that is going to be relatively cheap to insure. If you have decided to become a taxi driver but you don’t yet have a vehicle to use, check out how much it will cost to insure a vehicle before you buy it. As usual, high end cars and those that have been heavily modified will cost more to insure.

If you are going to work as a taxi driver, then you will need to take out taxi insurance. You can look online and use price comparison websites in order to make sure that you get the best deal possible.