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Whether you work as a taxi driver or run a taxi firm, you’ll need to have taxi insurance in place.

Below is a guide to taxi insurance, including the types of cover available, the requirements for taking out a policy and some good ways to save money.

Types of taxi insurance

The type of cover you need to get will depend on whether you’re insuring a public hire or private hire vehicle. Below is an explanation of both types of cover –

• Private hire – Private hire insurance is for taxis that must be pre-booked by phone or app. Minicabs and Uber cabs are both types of private hire vehicles.You can get private hire cover from Clean Green Compare Taxi Insurance.
• Public hire – Public hire taxis, such as black cabs, are those that can be hailed from the street. Public hire taxis are generally considered at higher risk and therefore public hire insurance is usually more expensive than private hire cover.

With both public hire and private hire insurance, you can choose the level of cover you want to get i.e. third party only; third party, fire and theft; fully comprehensive.

Requirements

In order to take out a taxi insurance policy you’ll need to have the right type of licence, your own vehicle and the ability to drive in the UK.

The requirements for getting a taxi drivers licence will vary depending on the area of the country you want to work. For example the requirements for becoming a black cab driver in London are notoriously strict, with drivers having to pass the Knowledge test before being licenced.

Ways to save money on taxi insurance

• Secure your taxi – A good way to save money on taxi insurance is to make your vehicle as secure as possible. Driving a taxi can be a dangerous job so you should certainly consider having CCTV installed inside the cab to help prevent any incidents involving passengers.
• Pay upfront – Another way to save money on taxi insurance is by paying for the policy upfront on an annual, rather than monthly basis. Of course this does mean you’ll have to pay more initially but most providers will offer you a good saving for doing this.
• Shop around – A very effective way of saving money on taxi insurance is by getting quotes from a lot of different providers. Luckily this is

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When you let property, it’s absolutely vital that you have the right landlord insurance in place.

The property you let is your responsibility so you need to ensure that it’s safe to live in and that any required maintenance is carried out.

Below are some of the main types of insurance you can get as a landlord –

Building insurance

Building insurance is a requirement when you let property. It will cover your property(s) for any structural damage that might occur as a result of extreme weather conditions, fire or flooding.

Contents insurance

Another type of insurance you can get is contents cover. Although this isn’t a legal requirement like building insurance, it is something that’s worth strongly considering if you let out property that has a lot of expensive contents. It will cover you for damage and theft of your contents.

Unoccupied property insurance

If you have property that is unoccupied for an extended period of time then you’ll need to get it covered with an unoccupied property insurance policy. Unoccupied property insurance is a requirement, usually when your property is unoccupied for 30 days or more. The reason you need to get a special type of cover is because the risk or break ins and vandalism are higher for unoccupied property.

Rent protection

If for whatever reason you were unable to collect rent from a tenant, then rent protection insurance would make sure you were still compensated until you were able to have the tenant removed from the property. This is a very handy type of insurance to have since you never know when an issue with a tenant might arise.

Liability claims

Liability claims are always a risk when you own property, whether they come from a tenant or from a member of the public. Liability insurance will ensure that you’re fully protected if a compensation claims goes against you. You can also have legal expenses included as part of the policy.

Security

Making sure you have good security makes a real difference to your premium. Its a good idea to close blinds or curtains when the property is unoccupied to deter breakins.

How to get landlord insurance

The good news is that getting landlord insurance at an affordable price is easier now than ever. There are a number of landlord insurance comparison services online that make it quick and simple to get quotes from providers.

If …

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