Towergate Taxi Insurance

Towergate Taxi Insurance Guide

Towergate Taxi Insurance is cover for taxi, PHV and private hire drivers in the UK. Towergate insurance services is one of the UK’s largest independent insurance brokers, with over 100 offices across the UK. The head office is based in Swindon. 

They were recognized as an industry leader in the insurance market in July 2019 when they were named commercial insurance broker of the year, this was for all their products including Towergate taxi insurance, private hire insurance and public hire insurance

Others providers of taxi insurance and private hire insurance for Uber drivers include Acorn taxi insurance, Haven, Plan Insurance and Covermy Cab plus newcomers like Uber and Motorcade taxi insurance plus others. 

The business side of the policy will resemble a regular commercial policy, as it will cover employer’s liability as a minimum, product liability, stock, business interruption, pecuniary insurance and sometimes other business related cover, such as legal expenses.

The trailer side of the policy is especially important as it will protect the unit, as well as the fixtures and fittings, from theft, fire, and accidental damage. This can be more important for a catering trailer than a regular catering business, as trailers and vans are often more exposed to risks where they’re located. However, cover for the vehicle is not always offered, even on a catering trailer policy. 

Levels of Towergate Taxi Insurance

Towergate insurance services like other providers of taxi insurance offer taxi insurance cover at 3 levels.

Taxi Public Liability Insurance

When you are dealing with the Public, it is important to understand that you can be held liable to claims for injury or property damage.  Amounts awarded for injury claims can be significant, and this is why public liability is so important. Compare to road risk insurance, it is relatively cheap, but provides a high level of monetary cover if a member of the public makes a successful claim against you or your taxi business. 

Towergate Taxi Insurance

The cost for this type of policy will start at around the £75 mark for a year of cover. That’s no more than around £6 a month, although that’s for the bare minimum cover, which is just the employer’s liability. This cheap option may work best for those seeking temporary cover, or who are on a tight budget. 

The majority of policyholders will take out a more extensive policy to protect themselves from other losses than just EL, which will invariably cost more, depending largely on the contents, and van values, as well as the levels of cover chosen on the rest of the policy.

This is of course not including commercial vehicle insurance, required for towing or driving a van. This aspect of the risk will often be taken care of through a separate motor policy, but can be included in some trailer policies and will bump up the premium significantly, by at least £200 a year.

Taxi Insurance is available throughout the UK

The demand for taxi insurance is on the increase in all parts of the UK, with a spike in demand for Birmingham taxi insurance, which is reaching similar levels to the current demand for London taxi insurance.