This article will help you to understand exactly what a public hire insurance policy is and to whom it actually applies to.
Professionals in the hire and reward field know all too well that there are two distinct type of taxi insurance options available to them. The two in question include public hire and its twin brother private hire insurance. Depending on the type of badge that you have applied for from the taxi licensing office, will ultimately decide the type of hire and reward policy that you will need for your vehicle.
A public hire insurance policy must be taken out by cab drivers that operate a taxi vehicle. The UK legal system states that all motor vehicles that operate on its highways must have in place the minimum cover of third party insurance to protect innocent members of public including damage to third party property. Public hire vehicles include hackney carriages and are typically found outside most railway stations. The London black cab is probably the most iconic symbol of a public hire vehicle in the world. Customers can hail these taxi's anywhere on the road if the driver has the 'for hire' light on. A private hire vehicle cannot stop for passengers that may try to hail it. These have to be booked in advance as their licence condition dictates it so.
The hire and reward drivers can choose to obtain cover for their cabs from a wide range of professional intermediaries that operate in this market place. Even though most of the plans may initially all seem the same but there are distinct differences from one insurer's policy to the next. Generally these tend to be small nuances including policy excess, driver age and protected no claim bonus to name a few examples.
A public liability insurance, even though not required through legal obligation is a policy that should not be ignored by both taxi and minicab operators. All motor polices have unlimited legal liability whilst the passenger is in the actual cab. However a passenger that is not in the taxi may sue you for negligence and for this you need a policy that will provide cover for 'away from the vehicle'. So under what circumstances will you have a use for an away from the cab public liability insurance policy. If you job includes offering services such as school or health authority contracts then these organisations will usually insist on this type of agreement.
To finish, you should be aware that when looking operate any type of motor vehicle on a UK roadway, it is a legal requirement for you to have a relevant motor insurance policy in place. Public hire taxi insurance is specifically designed for the industry, and is a necessary safeguard for drivers and customers up and down the country.
The author is a freelance writer with specialist knowledge of the UK insurance industry especially the public hire insurance niche. For online quotes or for further details on taxi insurance products please visit the website http://policyliability.co.uk/taxi-insurance/
Article Source:http://EzineArticles.com/?expert=Jason_Woodhouse
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Jason Woodhouse
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Woodhouse, J. (2012, February 10). . Retrieved February 15, 2012, from http://ezinearticles.com/?UK-Public-Hire-Insurance-Policies&id=6873686Chicago Style Citation:
Woodhouse, Jason "." EzineArticles.com. http://ezinearticles.com/?UK-Public-Hire-Insurance-Policies&id=6873686
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