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Minicab insurance – An overview
If you’re working as a minicab driver, having the right insurance is vital. Driving is a great way to make a living, but dealing with passengers day in and day out means being exposed to different types of risk than the average car driver. Minicab insurance can protect your livelihood if your cab is damaged, either accidentally or by careless passengers.
With a minicab, passengers are booked in advance, not hailing your cab on the streets of London. This gives cabbies a degree of protection, but in the eyes of insurers, there are many other factors to take into consideration when trying to find a cheap insurance policy.
Greater mileage, longer driving hours, and dealing with the public – all come into play when considering the right insurance policy.
Is minicab insurance cheaper than car insurance?
As most minicabs cover much greater distances annually than standard recreational car use, insurance is often more expensive. Don’t make the mistake of assuming that because you have private car insurance and will be covered if working as a minicab driver.
There is a range of additional types of cover you’ll need. Shopping around for a range of quotes is the best way to get the lowest price for your minicab policy.
What type of minicab cover do I need?
- Third-party
- Third-party, fire and theft
- Fully comprehensive
As the name suggests, fully comprehensive offers the highest level of coverage. The cheapest insurance is third-party only, which means that your minicab is only covered for damage to third parties.
Because your cab is your livelihood, most minicab drivers will opt for fully comprehensive, to make sure they are able to quickly get back on the road again in the event of an accident or damage.
Blackpool Car Insurance Coverage
Comprehensive Cover
For example, if you reverse into a lamp post on Blackpool’s busy promenade, your repairs, any damage to the lamp post, and injuries to a pedestrian would all be covered.
Third-Party Only Cover
Third-Party, Fire and Theft (TPFT)
Some insurers only offer TPFT on certain types of vehicles or for specific customers, so it’s not always available everywhere.
How much does minicab insurance cost?
The cost of your policy will depend on a range of factors. The lower the risk of a claim, the cheaper your insurance policy will be. Things that will impact the cost of your quote include the type of vehicle, its age, condition, and mileage.
Where you work will also have an impact. Driving a minicab in a major city like Birmingham or Manchester might incur higher premiums than working in a rural area for example.
What type of minicab cover do I need? l
Most insurance providers will be able to advise on exactly the right cover for your minicab, as every driver’s circumstances and needs will be unique.
Public liability cover
Carrying passengers can leave cabbies open to claims. Having public liability insurance cover in place means you are protected if a third party makes a claim against you, for example, if they are hurt or injured whilst in your cab.
Hire car
Minicab earnings protection
Minicab breakdown cover
Employers liability insurance
How can I get cheaper insurance for my minicab?
With a little common sense, there are steps you can take to reduce the cost of your premium.
- Secure your vehicle when not in use. Parking your cab off the road, in a secure garage ideally, will reduce the risk of accidental damage or theft, which could mean cheaper premiums.
- Pay annually. Monthly premium payments can help spread the cost of your policy, but it may work out cheaper to pay the full amount for your coverage upfront.
- Consider your vehicle. Premiums for high-powered or very valuable cars are always going to be higher. You’ll get cheaper insurance for your private hire cab if you choose a lower-value make and model.
- Shop around. It’s always worth comparing minicab insurance quotes from a range of different providers to see if you can get a lower price. Make sure you are only paying for the cover you need.
Are there any limitations on minicab insurance?
As long as you have a valid driving license, in theory, anyone can make a living as a minicab driver. There are age limitations, however. The minimum age most local taxi licensing authorities require for minicab drivers is 21. Insurers can often set a second age limit too. In some cases, if you’re under 25 you may find it harder to get minicab insurance. Luckily, there is no upper age limit.
Other exclusions will usually apply to your minicab insurance policy. You will not be covered if you drive under the influence of alcohol or drugs, for example.
Minicab drivers should also check with their insurer whether the policy also covers the vehicle when not being used as a cab. You’ll need to make sure you’re covered if you use the vehicle for private journeys, e.g. at weekends or at home.
The region you drive in may also be restricted by your policy. Major cities like Liverpool and Bristol will attract higher premiums, so check with your insurer if there are any limitations on the area you are covered to drive in.
Finally, most minicab policies will only include cover for one driver as standard. If you intend on more than one driver using the vehicle, you may need to get additional coverage from your insurer.
Frequently Asked Questions
What is Minicab Insurance?
Minicab insurance is designed for drivers who get paid to carry passengers.
A standard car policy won’t cover this kind of work, so you need a separate one. It helps protect you, your vehicle, and the people you’re driving.
Who needs Minicab Insurance in the UK?
If you’re making money by driving passengers, you’ll need this cover.
That includes Uber or Bolt drivers, private hire drivers, and airport transfer services. Driving without it isn’t just risky — it’s illegal.
Is standard car insurance good instead of minicab insurance?
No, standard car insurance does not replace minicab insurance. Standard car insurance is for those who drive themselves. If you drive passengers for money without proper minicab insurance, then you are in danger.
What does minicab insurance usually cover in the UK?
Minicab insurance mostly covers any damage to your car, any fire, theft, and third-party claims. Some minicab insurance policies included protection for passengers and equipment present in the car.
What is the difference between minicab insurance and public hire insurance?
Minicab insurance is for riders who already booked their cab. Public hire insurance is for black cab drivers who can pick up anyone who waves them down on the street. Choosing the right minicab insurance ensures you stay legally compliant.
What is PCO minicab insurance in London?
PCO minicab insurance is required for licensed private hire drivers in London. This type of minicab insurance meets the rules set by licensing authorities.
What levels of minicab insurance are available in the UK?
There are three levels of minicab insurance: third-party, third-party-fire and theft, and fully comprehensive. Third-party is the cheapest and most comprehensive minicab insurance that covers your car. Most drivers prefer comprehensive minicab insurance for full protection.
How much does minicab insurance cost in the UK?
The cost of minicab insurance depends on your profile, your age, and driving experience. But many drivers pay around £1,400–£1,500 yearly. You can get minicab insurance according to your profile.
Why is minicab insurance more expensive in the UK?
Minicab insurance costs more because drivers spend their most time on the road and carry passengers, which increases the risk of accidents.That’s why ,it is more expensive.
Can drivers with convictions get minicab insurance in the UK?
Yes, they can get it. Some specialist providers will still cover drivers with convictions. The price will be higher, but coverage is available if you look in the right places.
Does minicab insurance include personal use?
Some minicab insurance policies cover personal use, so you are covered even when you are not working. Always check your minicab insurance details carefully before accepting it. Others do not include it, and you need to add it separately. Always check this before buying, because driving a car off-duty without personal cover, you could be uninsured without knowing it.
Can young drivers get minicab insurance in the UK?
Young drivers can get minicab insurance, but options are limited depending on their profile. Prices are higher for younger drivers compared to experienced drivers. Many providers will not insure young drivers under 25.
Is short-term minicab insurance available?
Yes, short-term minicab insurance is available, including policies starting from 30 days. This type of minicab insurance is useful for part-time drivers or those who are starting out.
Do you need public liability with minicab insurance?
While not always required, adding public liability to your minicab insurance gives extra protection when dealing with passengers.
What add-ons are useful with minicab insurance?
Common minicab insurance add-ons include breakdown cover, legal protection, and replacement vehicle cover to keep drivers working without interruption.