What is Executive Hire Insurance
What is Executive Hire Insurance
Executive Hire Insurance can be complex, one of the reasons being that this could be interpreted as Chauffeur Insurance or Private Hire Insurance for prestige vehicles. Depending on the local licensing authority some Executive Hire vehicle and Chauffeur’s will not have a plate on their vehicle or need a private hire badge. Executive Hire and Chauffeur insurance can often be covering prestige vehicles, this can also effect the insurance therefore is it important to speak to an expert to be correctly insured.
Why choose Taxi Direct
Taxi Direct created a name in the taxi insurance market for having outstanding customer service and fantastic cover for Private Hire, Public Hire, Executive Hire, Chauffeur and Fleet insurance policies. We grew our taxi insurance network in the South West by looking after our drivers and always getting them bespoke, tailor made policies which was unobtainable from UK wide insurance companies, customer service is our culture.
We have re-launched Taxi Direct, but we understand that local brokers get preferential rates in their area as they know the clients and the area and focus on the customer. We created a partnership with local brokerages all over the UK to bring our trusted Taxi Direct brand to the wider audience. This allows our customers to still get the same great service and packages under the Taxi Direct brand but also get the preferential rates only available to your local broker.
Types of Executive Hire Insurance policies we can cover
We can cover many different types of executive hire insurance policies including:
- Third Party, Fire and Theft
- Third Party Only
To enhance these policies, we can also include Public Liability Insurance which can range up to £10 million depending on the contracts you have. Don’t assume your taxi insurance policy has this already built in. This can be a huge factor now, as some contracts come with built in requirements whereby the driver needs to have higher levels of liability insurance included.
Who are Taxi Direct
Our head office is based in the South West. Here our experienced team regulate and monitor the brokerages to ensure the Taxi Direct brand is being used to help get all our customers great policies at competitive prices.
Your main point of contact will be your local brokerage. We understand your need to get all the policy details, all your documents and any queries dealt with efficiently and effectively. Saving you time, we know time is money for Taxi Drivers. Our brokers are based all over the country and all of them specialise in Taxi Insurance. If you would like to get in touch with your local brokerage, please click here.
What is Taxi Insurance
Taxi Insurance is needed for any vehicle which carries passengers for money (also known as hire and reward). Taxi Insurance consists of Private Hire and Public Hire, these vehicle are plated by a local licensing authority.
Some vehicles may not be plated by a local licensing authority, however if they are used for hire and reward they will still need taxi insurance. Due to the variations, taxi insurance can be complex. Therefore, it is important to use a specialist taxi broker.
Taxi Insurance needs to include Class 3 Business Use; which includes use for commercial travelling and business, taxi insurance extends to use for hire and reward.
Other types of taxi insurance may include executive hire, multi-vehicle, taxi fleet, wedding hire, school contracts, chauffeur and limousine hire.
Executive Hire Insurance
Executive Hire Insurance is generally the same as a private hire insurance policy, the main difference being that Executive Hire Insurance is usually considered applicable for vehicle which are considered ‘prestige cars’.
The first recorded taxi service was in 1605 in London. This was not the Mercedes or Tesla’s of today, instead it was a Horse Drawn for-hire. This has turned into a huge business with 281,000 taxi vehicles on the road with 356,300 licensed drivers amounting to an estimated £6.6 billion in revenue.