PCO Insurance
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What Do You Need To Get A PCO Insurance Quote?
We’ll need a bit of information from you before we can provide you with a PCO insurance quote, such as:
- Your details – like name, UK address, driving history and licence details
- Vehicle details – such as registration and whose name the vehicle is insured in
- The size of your taxi vehicle (make, model, modifications)
- No-claims history
Why Would You Need PCO Insurance?
If you operate a private hire taxi service for a living (your main source of income) – you’ll definitely need to have PCO insurance in place.
It’s a legal requirement for all UK taxi drivers to have motor insurance and to drive on UK roads.
PCO insurance is also known as:
- Minicab insurance
- Taxi insurance
- Private hire taxi insurance
- Private hire insurance
- Hire and reward insurance
Essentially, if you carry passengers through pre-booked taxi services like Uber or Bolt – you need PCO insurance cover.
Who can get PCO taxi insurance?
All private hire drivers carrying passengers through pre-booked services can get private hire taxi insurance, as long as they meet the following criteria:
- Between 21 and 75 years old (some insurance providers regard 25 years old as the minimum age)
- Have a private hire taxi badge
- Hold a valid UK driving licence
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What Does PCO Insurance Cover?
Standard private hire insurance covers two legal UK requirements:
- Public liability insurance – covers third-party legal expenses and/or compensation claims should you injure or damage third-party persons or their vehicles while on duty.
- Employer liability insurance – covers employee claims for injuries or illnesses sustained while on duty. This is only applicable if you hire a team of taxi drivers.
What’s not covered?
- If you/your taxi drivers drive under the influence of alcohol or drugs
- Deliberate acts of theft, vandalism or burglary
- Negligence costs such as your vehicle was stolen but you left the keys in the ignition
- If your driving licence has been suspended/expired
- If an unnamed/uninsured person drives your taxi vehicle
What vehicles does PCO taxi insurance cover?
Most insurers will cover any vehicle used to carry private hire/pre-booked passengers, including:
- Regular saloon cars
- Multi-purpose vehicles (MPVs)
- Ride-hailing app cabs (e.g. Uber, Gett, Bolt, Ola)
- Black London minicabs – if used through pre-booked or hailed services
What Levels Of PCO Insurance Are Available?
There are three main levels of PCO insurance in the UK, namely third-party only (TPO), third-party fire and theft (TPFT) and fully comprehensive.
Third-party only
TPO cover is the minimum level of taxi insurance needed to drive on UK roads. It covers incurred costs should you injure third-party persons (i.e. someone other than yourself) or accidentally damage their property whilst on duty.
It’s also the cheapest level of cover.
It does not cover expenses for your taxi vehicle(s) or drivers.
Third-party, fire and theft
Third-party fire and theft is a level up from TPO cover and extended its offerings to include the compensation of your taxi vehicle if it’s stolen or damaged by fire.
It does not cover repair expenses if your taxi is in an accident.
Fully comprehensive
A fully comprehensive cover has triple benefits as it combines both TPO and TPFT cover with the addition of a windscreen cover, personal belongings cover and key replacement costs. Do ask your insurance provider for a full breakdown of what is and isn’t covered.
Fully comprehensive cover is the priciest level of private hire insurance available.
Note: Some UK insurance providers may only offer fully comprehensive cover as a minimum.
What Optional Add-Ons Are Available For PCO Insurance?
There are many PCO insurance add-ons available for UK cabbies:
Breakdown and roadside assistance
Breakdown insurance protects you against any roadside assistance and/or towing service costs should your taxi break down.
Vehicle replacement
Insurers will provide vehicle replacement if/when your taxi breaks down or is in for repairs. This is helpful essentially if you’re a full-time cabbie.
Windscreen cover
Add windscreen cover to TPO and TPFT PCO taxi insurance plans. It’s generally included in fully comprehensive options. Windscreen cover allows you to repair/replace damaged or broken windscreen at no extra cost to you.
Age restrictions
Some insurance providers state that 25 is the minimum age to get PCO private hire taxi insurance. If you or your taxi drivers are younger, you might pay higher premiums as younger drivers are deemed “higher risk”.
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How Much Does PCO Taxi Insurance Cost?
Each insurer has its own set of criteria for cover policies which influence the final price you will pay. Generally speaking though, you can expect to pay between £180 – £200 per month for a PCO taxi insurance policy in the UK.
What impacts PCO insurance prices?
- Taxi driver’s age
- Driving history
- How long you’ve had your driving license
- License points
- No-claims bonus record
- Driving distances (i.e. mileage)
- The age, make and model of your taxi vehicle
- Your UK location
- Off duty parking
How Can You Get Cheaper PCO Insurance Rates?
There are several ways to lower your PCO insurance premiums, such as prioritising safe driving, keeping up to date with vehicle services and adjusting your payment terms.
Compare PCO insurance prices
You should always shop around to find the best possible deals. EasyQuote’s 100% free, online comparison tool compares top taxi insurance deals (with additional information about each provider) to help you make a stress-free choice.
Switch your taxi insurance provider
Be wary of rollover tariffs that automatically renew when you don’t negotiate a new deal or premium with your current insurance provider. These are often charged at the most expensive rates and should be avoided at all costs. Switching to a policy with another insurance provider could provide the best value for money.
Drive your taxi carefully
Maintaining a clean driving license is an excellent way to reduce costs. With no history of fines, license points or other indicators of poor driving, insurers will reward you for obeying the rules of the roads with better deals. This shows that the taxi driver is a safe and responsible driver who is less likely to cause an accident or make a claim.
Note: Opt for telematic “black box” technology that monitors how you/your taxi drivers drive. Insurers use this collected data to determine your monthly PCO insurance premiums.
Service your taxi regularly
Taking care of your vehicle by servicing it regularly reduces your chances of breaking down unexpectedly and needing to claim due to a mechanical failure.
Securely park your vehicle when off-duty
Finding a safe and secure space, preferably off-road instead of on a busy London street corner, will reduce your insurance premiums; as it has fewer risks of theft or burglary.
Meet the minimum PCO insurance age requirement
Most taxi insurance policies have a minimum age of 25 and it won’t be easy to find quotes for London PCO insurance if you are under this age bracket. Whilst some PCO insurers might provide cover for drivers who are under 25, this will be extremely expensive.
It’s best to wait until you are over the age of 25 to ensure you get a reasonable deal.
Adjust your payment terms
Insurance providers may offer better premiums if you opt for annual payments rather than monthly. This is because monthly instalments are subject to interest.
How To Compare PCO Insurance Quotes With EasyQuote?
It’s easy to compare private hire vehicle insurance quotes with EasyQuote:
- Fill in the short questionnaire: Give us details about yourself, your vehicle, and your location.
- Opt policy add-ons: Tell us which add-ons you want.
- Compare quotes: Quickly compare multiple quotes within minutes with EasyQuote
- Save money: Get the best deal that’s perfectly aligned to your needs!
Frequently Asked Questions
“PCO” stands for Public Carriage Officer and is a division of Transport for London (TfL).
PCO insurance – also known as taxi insurance, private hire taxi insurance or hire and reward insurance – is a type of motor vehicle insurance specifically aimed at UK taxi drivers. Any taxi driver carrying passengers for a fee, via pre-booked services, must have a valid PCO insurance policy in place.
While both of these insurance plans essentially cover taxi vehicles, they do have slight differences:
- Private hire taxi insurance is needed when passengers are transported commercially via pre-booked taxi services like Uber or through a hotel’s concierge.
- Public hire insurance is needed when you transport “hailed” passengers (i.e. passengers that flag you down on the street or at a taxi rank). London black cabs are an example of public hire taxi insurance.
PCO insurance also applies to metered London taxis and mini-cabs licensed by the Public Carriage Office (PCO), used to transport “hailed” passengers (i.e. public hire insurance).
If you operate a London black cab (licensed by the PCO) your taxi vehicle must be accessible for wheelchairs.
Depending on the type of taxi service you operate (e.g. private hire vs public hire) a fully comprehensive PCO taxi insurance plan is the best option. This level of cover ensures you, your vehicle and third-party persons/vehicles are sufficiently covered in the event of an accident.