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

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

There are many reasons to be envious of taxi drivers. Driving a taxi is a job that doesn’t have many 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 confronted with new people, situations and locations every day. What a taxi driver does, driving people from A to B, might not sound very interesting. 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 operating as Hull taxis or hire vehicles, and most car insurance policies won’t cover you if you are using your vehicle in a commercial role.

Here’s everything that anyone considering taking the leap and becoming a taxi driver should know about taxi insurance.

What is the Difference Between Car Insurance and Taxi Insurance?

The principle of both car insurance and taxi insurance is fundamentally the same. Both kinds of insurance exist to protect vehicle owners financially from any accidents they are involved in or any breakdowns and other issues their car may have. However, insuring a private hire vehicle like a taxi is a lot 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 getting insured, and the history of the driver or business making the application will all have an impact on the insurance price.

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 leaving your vehicle when not in use is another factor that will influence the cost of your insurance.

If you are going to be parking your vehicle on a private 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?

Searching online for taxi insurance is a good idea because you can easily compare the different packages available to you.

How Can I Keep My Costs Down?

Insuring your private hire vehicle is an essential cost. However, there are a number of easy things that anyone can do in order to decrease 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 carefully, 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 good 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 time, such as once every 6 months, or once every year for a full check-up.

You can also choose a vehicle particularly that is going to be fairly cheap to insure. If you have chosen to become a taxi driver but you don’t yet own a vehicle to use, check out how much it will cost to insure a vehicle before you purchase it. As expected, 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 purchase taxi insurance. You can search online and use price comparison sites in order to make sure that you get the best deal available.