A black taxi is one of the easiest ways of getting around in the United Kingdom, particularly in central London. The black taxi is the quickest method of transport, as it has use of traffic lanes specified for buses and taxi only, saving a lot of travel time.
However, operating a black taxi has the responsibility of delivering passengers safely to their destinations, and having adequate insurance is essential.
Should an accident occur while there are passengers in your taxi, you or the taxi firm that you drive for, are then responsible for any costs, whereas if you have adequate insurance cover, the costs for you will either be minimal or none. Furthermore, it is compulsory by law to have insurance when you are transporting people for financial gain.
Looking into insurance cover
When investigating the different policies for black taxi insurance, you need making sure that the policy you take out is the most comprehensive for your needs. You need protection, but if you feel it will be adequate, you can take out third party, fire and theft only. However, with protection for your passengers and other road users, having a public liability cover extension is a worthwhile expense.
Overall, policies do come complete with cover for replacement cabs. In the event that your existing policy does not, then it is wise to make a change. After all, you do not want to be out of work through your taxi having major repairs from involvement in an accident. Have a good look at other policies available, there are plenty on offer on the internet. Many policies come with discount offers as well, which are then an excellent advantage to you.
Should you operate a black taxi in London or other high-risk cities, you may experience difficulties finding cover, as many insurers are not keen on offering black taxi insurance in high-risk areas. However, if you look hard enough, a few of them will.
Reducing insurance costs
One way of decreasing a high insurance premium is by paying a higher excess. Competition in insurance is competitive. Look for a policy to suit both your pocket and needs.
Get your black taxi insurance at Taxiprotection