Any driver who carries passengers for hire or reward has to have adequate insurance in place; a normal car insurance policy simply will not do. Amongst other things, insurers will usually want to know how many passengers the vehicle can carry, who will be driving it, what type of licence is held, where it will it be driven, what type of vehicle it is, and what modifications, if any, have been made to accommodate disabled passengers. Taxi insurance buyers may be owner drivers, they may rent the vehicle, they may use pool vehicles, or they may wish to insure a fleet, so there are many different types of policy available.
Swinton insurance, which once operated from high street shops but which has now disposed of them all, is now under the ownership of the mighty Ardonagh Group. They can arrange insurance for public and private hire operators, minicab drivers, multipurpose vehicles and taxi fleets. They also have specialist policies for chauffeurs. Swinton work with a range of well-known insurers in order to find competitive quotations, and instead of providing these online they discuss the whole package with the customer to find out exactly what that person's or company's needs are, before contacting insurers to compare quotes. A standard policy covers loss of or damage to the taxi itself, with windscreen replacement as standard. Optional extras include cover for vehicles intended for special occasions such as weddings and funerals; audio equipment; public liability; replacement locks if the keys are stolen or lost; and communication equipment. Taxi liability insurance is another optional extra; this can protect against claims by people who are being escorted or aided by a taxi driver, because of infirmity, inebriation or other reasons. They can provide taxi insurance cover for minibuses with up to 17 seats, including that of the driver.
Acorn Insurance and Financial Services Ltd, which was first formed in 1982, is a broker specialising in niche motor insurance products. It is a subsidiary of Granite Holdings One Limited which in the year ending December 2019 had a turnover of more than £84 million. They claim over 40 years experience of arranging taxi policies, and can provide yearly or short-term ones. They cannot however quote for vehicles in Northern Ireland. It is possible to get quotes online, but they recommend contacting them by telephone to ensure that all details are correct and that they can offer advice on the type of policy the client may need. Acorn can provide comprehensive, third party only, or third party fire and theft policies, and options for unlimited mileage. Other optional extras include breakdown cover, legal cover, and insurance against losing keys or having them stolen. They will consider inexperienced drivers, as well as those who may have been refuse cover elsewhere because of accidents or convictions.
Choicequote is a trading name of Bollington Insurance Brokers Limited, brokers with about 400 employees and offices in Liverpool, Manchester and Macclesfield. They are in turn part of the Gallagher group of companies, which is a global group begun in 1927 and which employs more than 34,000 people. They can provide taxi insurance across many areas of the United Kingdom including major cities. Drivers must be between 23 and 75, and holders of a public hire or private hire taxi badge, but those who have only received their badges recently or have claims or driving convictions, can still be considered, as well as can Uber drivers. Cover can be comprehensive, third party only or third party fire and theft, and public liability insurance can be bought as part of the package, or separately. Fleet insurance is available for those with three or more vehicles to insure, and a taxi base policy can also be specified, which can cover buildings, public liability and employers liability.
Insuretaxi.com is a trading name of County Insurance Consultants Ltd which is part of Global Risk Partners Limited, which claims to be one of Britain's biggest independent insurance broker groups, with more than 35 brokers and insurance brands, including London market and Lloyds brokers. They can provide taxi insurance for a number of different operators including public hire drivers, Private hire drivers, chauffeurs, minibuses, minicabs and saloon vehicles. They can work with new or inexperienced drivers, those with poor claims or conviction records, full timers or those who work on a weekly or monthly basis, and they claim to be able to cover all postcodes. Unlimited mileage policies are available and in the event of an accident replacement taxis or plated cars may be available whilst the policyholder's vehicle is off the road. Payments can be arranged monthly if required, and taxi office insurance is available as well as public liability cover.
Covermycab is a trading style of J&M Insurance Services (UK) Limited, which has been in business for nearly 40 years and which is a subsidiary of Capital Underwriting Agencies Group Ltd. They had a major problem in 2018 when Danish insurer Alpha, which underwrote taxi and private hire policies for a number of companies including theirs, became insolvent and then went bankrupt. This left many taxi drivers without cover and led to a need for J&M to quickly arrange alternative policies. Since Alpha was authorised to write business throughout the EU policyholders may be protected by compensation systems arranged through the Danish Fund or The Financial Conduct Authority. Unfortunately Covermycab also dealt with another Danish insurer called Gefion, which lost it's licence to operate in June of 2020 but claims on existing policies were supposed to continue to be paid. Gefion also went bankrupt on 7th June 2021, with a number of existing claims still unpaid. The situation for Gefion creditors at the moment is unclear. In the meanwhile Choicequote claim that their policies are now underwritten by insurers from a panel including Axa, Markerstudy, Aviva, KGM and QBE.
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