Taxi insurance can cover you, your drivers, and your fleet of vehicles for a range of risks. But as with all types of cover, taxi insurance policies will usually specify certain exclusions. In this post we’ll list some common exclusions to look out for, to help you ensure you have all the cover you need for your taxi fleet.
If you have any more questions about taxi fleet insurance, call our dedicated team on 0208 290 9099, or email CM@AnthonyJones.com.
Why You Need Specialist Taxi Insurance
Specialist taxi insurance will cover your vehicles for private hire or public hire. As well as covering your drivers and their vehicles in your fleet for accidents and injury, a taxi insurance policy will likely also include some public liability insurance. This will cover passengers for any injuries or damages they may experience as a result of using your services.
Steve Blackmore, Director at Anthony Jones says, “No taxi driver or taxi fleet manager should go without dedicated taxi insurance. However, far too many drivers and fleet managers have found that their ‘comprehensive’ policies aren’t nearly as comprehensive as they first seemed.”
You can read our full guide to taxi insurance, and what it covers.
Types of Taxi Insurance Cover
Before we discuss some common exclusions to look out for in your taxi insurance, first it’s important to understand the limits to your cover.
When it comes to your vehicles, you may be able to choose from three levels of cover:
- Third Party Only – In the event of an accident, this will cover third party damages, but you will not be covered for any damage to your own vehicles, or for any personal injuries your drivers sustain.
- Third Party With Fire and Theft – In the event of an accident, this will provide the same level of cover as a third party only policy. However, your policy will also cover you for damages associated with fires and theft.
- Comprehensive – As the name suggests, this will provide the highest level of cover. In the event of an accident, you’ll be covered for damages to your own vehicles, and your drivers may also have a certain level of personal injury cover too.
“To avoid any nasty surprises when it comes to making a claim, it’s important to understand your cover limits, along with the exclusions. Take a look at your policy wording, and be sure to talk to your insurer about possible grey areas, including personal use and modifications,” says Steve Blackmore, Director at Anthony Jones.
Common Exclusions To Look Out For In Your Taxi Insurance
Beyond your cover level, your taxi insurance policy may outline certain exclusions. These are circumstances in which the cover will not apply. So if your drivers or vehicles are involved in an accident while the exclusions apply, the insurers will most likely reject your claim:
- The policy will probably only cover named and licensed taxi drivers. This means that undeclared or unlicensed drivers will not be covered to drive any of your vehicles.
- The policy may specify that it only covers public and private hire. The cover may not extend to other types of commercia driving, such as courier or food delivery services.
- Your policy may be voided if your drivers do not have a valid taxi licence, or if their vehicles do not have valid MOT or road tax.
- Your policy is also unlikely to cover any accidents caused by drivers under the influence of drugs or alcohol. Be sure to read our guide to driver screening for drugs and alcohol.
Other Exclusions To Look Out For In Your Taxi Insurance
These are the sort of cover exclusions that may be less common, or which may be implied rather than explicitly listed:
- Personal Use: Unless it is explicitly stated, your taxi insurance policy may not cover your drivers for using their vehicles for personal reasons.
- Personal Belongings: The policy may provide cover for the damages associated with a car theft. But it may not provide any cover for the driver’s personal belongings. It may not cover any stolen cash takings, either.
- Modifications: If you make any modifications to your vehicles, it may affect your insurance premiums. The policy may outline what sort of modifications will affect the cover, and which will not. However, it’s important to note that undeclared modifications may result in an unsuccessful claim, and they could even void your policy.
How To Get The Cover You Need For Your Taxi Fleet
Working with an expert insurance broker is a great way to get the cover you need at the best price.
Talk to us, and we’ll help you get specialist taxi fleet insurance that ticks all of your boxes.
If you live in the UK, just leave us your contact details and we promise to get in touch within one working day. We’ll take all the details we need from you either over the phone or via email then we’ll immediately get to work finding the best deals for you.
Get a free taxi fleet insurance quote today.
