August 14, 2018

Differences Between Private & Public taxi Insurance

For taxi service businesses, ensuring that you have adequate cover for your fleet is one of the most important things to consider. Insurance one of the largest expenditures that taxi owners face, but the expense is there to ensure that you are not left out of pocket when accidents happen, and you are faced with damaged property or legal claims even if the accident is not your fault. Risks are always present, especially since taxis are usually on the road for long amounts of time each day, and this added to the commercial factor of picking up members of the public equates to high risk.
There are two major versions of taxi insurance; private hire insurance and public hire insurance. What are the differences between these two forms of insurance?

Private hire insurance

Also known as mini cab insurance, this insurance applies for taxis that only pick up and transport pre-booked customers, and are unable to pick up members of the public from off of the street. There is less risk present with private hire because the customer has rang from an identified location and the destination is known before hand, and this makes private hire insurance cheaper.

public hire insurance

Public hire taxis are allowed to pick up non-booked customers from the street as well as taking on booked customers, and they are also able to use private company taxi ranks for larger taxi fleets. Picking up non-identified customers involves a higher risk, especially when considering that many passengers are intoxicated after evenings out, and this makes public hire insurance more expensive. Specifically, the risks involved with public hire include non-payment and assault. Prices are similar between company public hire and independent black cab hire.
Both types of insurance will cover a similar group of risk factors relating to public liability, which protects you from legal claims through fault or no-fault where there is loss or injury caused.

Policy payment is highly flexible, and ranges from 3 monthly payments to yearly payments, and if you are willing to pay for a longer time range, then your insurance deposit will be cheaper.

Drivers and owners can get public hire insurance at taxiprotection

Salon owners – don’t forget your insurance

Owning or starting your own beauty or hairdressing salon can be an exciting time. It is a milestone in anyone’s life to start their own business and there are going to be many things to think about and take into account.

What many people forget to think about is getting the best salon insurance quote that we can. Yes, we know that we need insurance, but are the policies not all more or less the same, and would it make any difference if one just went ahead and picked the cheapest?

That is where so many people go wrong, salon insurance is a specific kind of insurance, and a detailed salon insurance quote will point that out to current and prospective salon owners immediately.

When you are dealing with the public, as they are your customers, and you are providing a personal service for them you are automatically taking a large amount of risks, without you really thinking about it immediately.

If any of the beauty or hairdressing services go wrong, the client has an allergic reaction to a product, or a staff member incorrectly applies a product to a client causing harm, you as a business owner had better have the best comprehensive salon insurance in place to protect you and your livelihood.

Even something small, like getting permanent hair colour on a client’s new blouse, seems like a small thing, until you discover that the blouse is a once off designer blouse that was tailor made for her in Paris, and costs more than the salon makes in 6 months.

When a customer engages their rights and puts forward a claim for the cost of the incredibly expensive item of clothing, the salon had better be prepared to be able to pay the client out; otherwise it could mean that the salon will be adversely affected, by having to cover the costs of the claim straight out of the till.

Speak to your broker about a tailor made salon insurance quote that will cater for all the salons needs and be able to protect them in the event that a claim is made against the salon.

Get a salon insurance quote from Specialistrisks

Why do young men drivers pay higher premiums than women at the same age?

On average men pay around £300 per year more than women for their car insurance premiums and young male drivers can pay considerably more than that. But is it right, and why is it so widely accepted that your sex determines whether or not you’re a safe driver?

Well, in a word, yes. Statistically men cause considerably more accidents than women and young men are the highest risk drivers on the road.

Not so long ago, the European courts took up the matter of car insurance premiums being significantly more for men. The argument was made that that higher premiums were based solely basis of sex and that this was an infringement of the gender discrimination act. The car insurance companies showed that car insurance quotes were based on statistics that heavily demonstrated that women are generally much safer drivers, and that it was not down to gender discrimination.

Women drivers are not only less likely to be involved in an accident, but the value of the claim if they are involved is statistically a lot lower. A huge amount of research is done each year to determine why women are lower risk drivers and these factors are taken into consideration by each insurance company who then use this data to set their quotes

Government research shows that men commit over 90% of driving offences. This kind of research shows why men pay so much more than women for their car insurance quotes.

As well as data collected about driving offences, the insurance company and road safety associations collect data on driver’s habits and road behaviour. This data indicates that women tend to drive shorter distances and are more cautious than men, who have been found to be more reckless, and as a results make more expensive claims on their insurance.

Although these factors mean that men will almost certainly pay higher premiums than women, there are some ways in which you can help reduce the cost of your insurance.

Think about the things that you can control. The type of car can make a huge difference to the price of your insurance quote, the smaller the engine size the lower the quote. Also, a better safety rating can help reduce premiums because if you are involved in an accident the car should perform better, causing less damage to you and anyone else involved.

Young drivers in particular can benefit from taking additional driver courses such as Pass Plus. Once you’ve passed your initial driving test ask your instructor or research these extra courses as then can reduce your premium by over £100 per year.

You could also get a better car insurance quote by storing your car away from the road, preferably in a garage. Storing your car in a garage greatly reduces the chance of it being stolen or damaged by passing traffic and therefore lowers your insurance quote