Looking forward to becoming an Uber driver is one of the exceptional ways to make a living in the UK. Undoubtedly, Uber has introduced a unique way for individuals with vehicles to make extra cash. However, the business needs to be covered by the right insurance for it to run smoothly. This article seeks to guide you in choosing the right private hire insurance. Read on to find out!
❓What is private hire insurance Uber?
Private hire insurance, also known as the private taxi hire insurance, is a specialist car insurance policy tailored to cover vehicles utilized for commercial and residential hire. You need this kind of insurance because a regular Uber insurance policy is not enough to protect your car, you, and the customers.
🧐Who is eligible for private hire insurance Uber in the UK?
Several Uber insurance companies basically provide cover if you:
- Have a valid driving license for a minimum of 3 years.
- Over 21 years but some require up to 25 years.
- Be a UK resident for a minimum of 5 years.
- Be a full-time taxi driver
- Have had a taxi badge for a minimum of 12 months.
🤔Is it important to have private hire insurance Uber?
In the UK, Uber does not offer any insurance cover. Therefore, it is the responsibility of the Uber driver to hustle for reliable insurance to protect or cover the operation. Considering hiring a private insurance taxi is a legal requirement to have a justifiable Uber insurance policy. It is essentially based on the kind of car you drive. Here, it is easy to compare various Uber taxi insurance that will protect your car, you, and the passengers. Basically, you must pre-book a private hire Uber in advance, which should encompass large vehicles and minicabs. Usually, for you to be covered by the private hire Uber insurance, you need a booking station like taxi ranks or train station to pick your customers.
📜Types of cover available for Uber drivers
Uber drivers are particularly private drivers for hire, and therefore, private hire Uber insurance is everything they need. Private hire insurance Uber secures everyone in the car and the vehicle itself in case of an accident.
💰Levels of cover
The following are the primary type of insurance that covers Uber with a private hire insurance policy.
- Road risks
This is the main kind of risk covered in a private hire policy. All you need to do is selecting the level you want to be covered from third party cover, fire & theft, or a whole comprehensive. For you to enjoy the maximum cover, you can consider the whole comprehensive. Still, you will have to pay more compared to other options.
- Public liability claims
One must-have aspect for every private hire driver is public liability insurance. This means that if anyone in the car was injured or killed, perhaps due to your reckless driving, you require ensuring that you can carry a liability claim if it occurs against you. You can also include legal expenses.
- Fleet insurance
Fleet insurance is a great choice for private hire companies that possess their fleet vehicles. The reason for this is that you can be insured at a relatively cheaper rate and possibly easy to manage.
💳How much do you pay?
Private hire insurance is relatively expensive than the standard cover option due to the following:
- You will be carrying several passengers every year, increasing potential death or injuries.
- You will be driving several miles every year.
- Uber cabs are somehow larger than average vehicles. Thus stand in a bit higher insurance group.
Basically, the price of your Uber insurance depends on several aspects, including; the car you drive, where you keep it, where you live, and your driving record.
🏦How do you minimize the cost?
The ideal way to get an affordable cover is to consider shopping around and comparing different quotes. You can still consider selecting a sensible car, developing a no claim history, and installing CCTV as a security feature.
Choosing the right private hire insurance for Uber is never a daunting task if you have the right information. By following this guide, you should be able to make an informed decision.