If you are driving minicab to transport a number of passengers to their destination for the sake to earn money. then it is legally required to have the minicab insurance to protect your passengers, vehicle and you – as a driver.
Most of the companies do not offer this type of cover so you need to search out the companies that can offer you the insurance cover specifically for your vehicle.
What Type of Insurance do you need?
Usually, there are two kinds of insurance covers available for vehicle protection. Types of vehicles are; private hire and public hire. If you are driving minicab to transport the passengers then you need the insurance cover that meets the requirements.
There are generally two types of insurance covers that cover taxis. These are private hire and public hire insurance. As a minicab driver, you’ll need to obtain private hire coverage.
Private hire insurance cover only provides protection to the kind of vehicles like minicabs that only pick the passengers who have booked the ride in advance. The passengers cannot get the minicabs directly on the road instead they have to book the vehicle via mail, making a phone call or in-person from the minicab office.
Requirements to get Insurance Cover for Minicab
Meeting the requirements mentioned below will make the driver eligible to get the Minicab Insurance;
- Must be a resident of the UK for at least 5 years
- Must have a valid driving license
- Can only work as a driver while don’t work for other company or profession
- Must be older than 25 years
- have worked as a taxi badge holder for at least a year
Other Types of Coverages You May Need
There are some other coverage options that you may need in the future to protect your vehicle. Given below are some coverage options that are recommended both for private and public hire;
This sort of insurance policy covers you for the damages happened because of the third party. This cover will provide you with protection for the passengers traveling in your van and you will be given coverage both legally and financially against this policy. One thing to consider that the normal Minicab Insurance policy sometimes includes this type of coverage, but some insurance companies do not include this offer instead you have to purchase as additional coverage. Make sure to ask the insurance company if the policy includes this coverage.
This type of policy covers the legal expenses if you face a liability claim in court. If you do not have this type of coverage, you may face complete financial ruin.
Breakdown Insurance cover
This type of policy covers you when your minicab breaks down while on the road.
What Factors Can Affect the Insurance Premiums?
There are many factors that can include in calculating the price of the insurance premium i.e. the age of the vehicle, type of the vehicle, age of the driver driving the vehicle, location, and mileage that the vehicle covers for 12 months.
You can get every type of insurance coverage for your minicab at Cubit-Insurance.