If you’re driving with passengers in your vehicle, it’s important to make sure that you’re properly insured. Depending on the situation, you may need what’s known as “hire and reward” insurance.
Hire and reward insurance is a type of policy that covers you for carrying paying passengers in your vehicle. This includes things like taxis, Uber, and other ride-sharing services.
If you don’t have hire and reward insurance and you’re involved in an accident while carrying paying passengers, you could be held liable for any damages or injuries caused. This could end up costing you a lot of money – even if the accident wasn’t your fault.
Let’s look at the different types of hire and reward cover and what you need to know before you get on the road.
What type of insurance do I need for private hire taxi?
If you’re driving a private hire taxi, you must have a valid licence from your local authority and hire and reward insurance. Hire and reward insurance is different from standard car insurance as it covers you for carrying paying passengers.
You can get hire and reward insurance as an add-on to your existing car insurance policy or as a standalone policy. Some insurers will only offer hire and reward cover if you take out a comprehensive policy, so it’s important to check before you buy.
It’s also worth noting that some local authorities have their own requirements for taxi drivers, so it’s always best to check with your local authority before you start driving.
How much is taxi insurance in the UK?
The cost of taxi insurance varies depending on a number of factors, including the type of vehicle you’re driving and your driving history. Generally speaking, comprehensive policies tend to be more expensive than third-party only cover.
To get an accurate quote for taxi insurance, it’s best to speak to a specialist broker who can tailor a policy to your specific needs.
Do I need specialised insurance for Uber?
If you’re driving for Uber, you’ll need to have hire and reward insurance in place. Uber also has its own insurance policy which provides cover for any accidents that happen while you’re logged into the app and carrying passengers.
However, it’s important to note that Uber’s insurance only applies if you don’t have your own private car insurance policy in place. So, if you have a comprehensive policy that already covers you for driving paying passengers, you won’t need to take out additional cover.
How much does Uber insurance cost UK?
The cost of Uber insurance will depend on a number of factors, including the type of vehicle you’re driving and your personal circumstances. However, you can expect to pay around £2-3 per week for comprehensive cover.
What are the dangers of not being insured to drive with passengers?
If you’re involved in an accident while carrying paying passengers and you’re not properly insured, you could be held liable for any damages or injuries caused. This could end up costing you a lot of money – even if the accident wasn’t your fault.
Not only that, but if it’s found that you’re driving without the proper insurance in place, you could face a fine of up to £5,000 and have your driving licence revoked .
What are the dangers of driving without hire and reward insurance?
If you’re caught driving without hire and reward insurance, you could face a fine of up to £5,000 and an endorsement on your licence. This endorsement will stay on your record for four years and could make it difficult (and more expensive) to get insurance in the future.
If you’re involved in an accident while carrying paying passengers without proper insurance, you could be held liable for any damages or injuries caused. This could end up costing you a lot of money.
Can I add hire and reward to my insurance?
Yes, you can add hire and reward cover to your existing car insurance policy. However, some insurers will only offer this as an add-on to comprehensive cover, so it’s important to check before you buy.
Adding hire and reward cover to your policy will usually increase the cost of your premium, but it’s always best to get a few quotes before you make a decision.
A lot of people are now using their personal vehicles to give others lifts for money. It’s important to know that if you’re getting paid for your time, you need to have hire and reward insurance in place. This type of insurance covers you for carrying paying passengers in your vehicle and is different from standard car insurance.
To avoid any confusion, it’s always best to check with your insurer to see if they offer hire and reward cover as an add-on to your existing policy. If not, there are plenty of specialist brokers who can help you find the right policy for your needs.
How do I get hire and reward insurance?
If you need hire and reward insurance, the best way to get a policy that meets your needs is to speak to a specialist broker. They will be able to find a policy that covers you for carrying paying passengers in your vehicle.
When you’re looking for hire and reward insurance, make sure you compare quotes from different insurers to make sure you’re getting the best deal.
So, there you have it – everything you need to know about driving with passengers and insuring yourself for hire and reward. Just remember to check your policy details before you get on the road to make sure you’re properly covered
If you are looking for private hire or public hire taxi insurance, we can help. Compare quotes from our panel of experienced brokers who can create a bespoke policy at a competitive price.