Differentiating Public Hire and Private Hire Taxis for your Taxi Insurance
The reason why you have purchased a taxi insurance policy is that you are ensuring the safety and protection of the vehicles that you use for your business. Without well-functioning vehicles, as well as qualified drivers, your business will just fall flat on its face. In the event of something bad, the most important thing is that the vehicle would be restored as soon as possible. Whether private hire or public hire, the same concerns plague the owner of a fleet of cabs. If you are thinking of opening a cab business, read a bit on types of cabs.
Primarily, cabs can either be two things: private hire and public hire. These two types of cabs have different taxi insurance policies, so you have to understand both. As a primer, though, your insurance policy needs to include a comprehensive plan for your vehicles. If you own more than three vehicles, cars, minibuses, and the like, you are better off purchasing a taxi insurance policy that is generic instead of getting one for each cab. Your policy should of course include the basic cover for taxis. You could also sign up for a policy that has a more extensive cover, but this mostly depends on your budget.
You taxi insurance policy should include basic services such as a customer service hotline that you can call any time - even the wee hours of the morning. You should also check the company's claims service, and see if they have an excellent one.
A public hire cab is one that can be flagged down by anyone. They are the most common types of cabs you see roaming around London, or any part of the UK. While they are the most common, they are also the ones that are more prone to an accident. With this, public hire taxi insurance covers the regular black cabs with lights atop their roofs. On the other hand, private hire cabs are ones that have appointments that have been previously booked by the customer. These cabs are dispatched straight to the customer's place. It would then take their customers to their destination. Insurance for these kinds of cabs is also called minicab taxi insurance.
The main difference of a cab insurance, whether public or not, from private car insurance is in the essence of the vehicle's use. In the UK, you are compelled by law to have a minimum insurance in order to take your vehicle on the road. This kind of insurance is what we know as private car insurance.
On the other hand, if you vehicle is used to ferry passengers from Manchester to Liverpool for hire or reward, then you need an operating license as well as taxi insurance. This insurance can also be called such names as: private hire insurance, public hire insurance, hire and reward insurance, minicab insurance, and black cab insurance. With some knowledge about the kind of vehicle you own, you would have an idea of what kind of insurance to purchase.
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