Private Hire Insurance Quote – What Is A Private Hire Insurance Policy?

Private hire insurance is just one of the many specialized auto insurance plans available in the UK. Drivers of minicabs and minibusses, in particular, benefit from this subcategory of taxi insurance. But what precisely does private hire auto insurance cover? Where can you get a fair quote? And what is it use for? Here, we provide all the information you require on the policy.

A specialized type of taxi insurance called private hire insurance, also referred to as PHV cover, is created to protect people who offer transportation services to third parties on a contract basis. The drivers of black cabs or other individuals who can called over from the street may not use this hire-for-reward taxi service.

This hire-for-reward taxi service is only for drivers who have pre-arranged clients or are a part of a shuttle service where customers can make phone or online reservations for their services. It is not for drivers of black cabs or other vehicles that can be summon over from the curb.

What kind of insurance does a private hire have?

Specifically created for drivers of minicabs (saloon vehicles) and minibusses that transport passengers for hire and reward, private hire insurance is a sort of taxi insurance policy. You cannot flag down on the street because private hire taxi insurance, which is different from public hire taxi insurance (the other type of taxi insurance), only covers drivers who must be pre-book or locate at a recognize taxi rank.

Private hire taxi insurance, which accounts for about 65% of the market for taxi insurance, is unquestionably a coverage worth considering if you intend to use your vehicle for both hiring and reward.

Hiring and reward insurance is another name for private hire insurance. It should go without saying that you will be compensate if you are hire to deliver goods or transport passengers from point A to point B. Both taxi drivers and private hire drivers are subject to the hiring-for-reward policy.

PHV Cover Types

If you use your car for private hire, it is recommended that you have comprehensive insurance to provide protection in the event of an accident.

Comprehensive cover

If you use your car for private hire, it is recommend that you have comprehensive insurance to provide protection in the event of an accident.

Third-party Only

The bare minimum amount of insurance required by UK law is Third Party Only. Only the opposing party is supply with cover.

Third-party fire & theft

Third Party Fire & Theft provided a stronger defense and increased safety. Third Party with Fire & Theft: This level offers additional security against fire damage or genuine vehicle theft.

Is monthly private hire insurance offered?

Yes, the majority of private hire insurance brokers allow for monthly payments. If you’re just starting out or just working a few months a year, this is common.

Who must maintain private hire insurance on a monthly basis?

The law mandates that all drivers of hire-for-reward vehicles who can’t called from the curb have PHV insurance. Operators of private chauffeur services, on-call taxi services, Uber, and other ride-sharing services are include in this. Due to Uber’s involvement in the establishment of this ground-breaking private hire booking service, the company offers extensive coverage for Uber drivers. This insurance cover is frequently refer to as “taxi insurance.”

Each policy can be alter to fit the particular requirements, resources, and standards of each private hire operator because each one is different.

What are the legal requirements for drivers for private hire?

UK legislation mandates that commercial vehicles have third-party or comprehensive car insurance. “Road risk” refers to this area of protection. This serves as insurance in the event that the car is in an accident. Third-party insurance only covers the other car when you are at fault. Comprehensive insurance provides protection for both vehicles as well as the passengers’ personal belongings regardless of who is at fault.

What features of a PHV insurance policy are optional?

There are three key areas of further protection: In order to help ensure that their business can continue regardless of the difficulties they face, private hire operators can benefit from additional protection in three crucial areas. These three add-on insurance options include fleet, public liability, and breakdown support. Each of them has different levels of coverage. Allowing the private hire operator to have the protection they need that also fits within their budget.

All levels of coverage that include breakdown coverage include having a mechanic come out to your car. When it can no longer move. There are different tiers of coverage available for both the vehicle’s towing and the subsequent travel of the driver’s passenger.

If you were only going to purchase one of the optional covers for your private hire insurance policy, public liability is the one you should choose. This serves as a defense in the event that a customer lodges a claim against you or your business and decides to sue. Without this protection, if the claim against you was upheld, you would be personally liable for any settlement costs.

Fleet insurance is a great way to reduce the cost of the vehicles a company uses when it has two or more vehicles used for private rental for compensation. Once an individual is protect by an insurance company with vehicle insurance. Almost all of them offer a discount for additional automobiles to a policy. Fleet insurance could be a useful way for your company to make some extra money. To get a private hire insurance quote, get in touch with us today.

Optional extras, that you can add to your insurance policy

Another choice to think about is taxi breakdown insurance. In addition, to help sent to you to solve the issue. Your clients can delivered to their destination, preserving your reputation as a reliable driver. It’s absolutely crucial to get a solid and dependable vehicle for private hire use. So that downtime is keep to a minimum.

UK government law mandates that any individual who may be called upon to drive a passenger to their location in exchange for payment must have private hire taxi insurance.

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