At TaxiFair Insurance, we exclusively serve the Public Service Vehicles industry, meaning we are able to cater for your needs, whatever role in the industry you play.
This means we have vast experience in dealing with the common types of taxi insurance such as cover for owner drivers with vast taxi driving experience, cover for long-term rental drivers and we can even arrange cover for multi-vehicle license holders (some who rent out in excess of 100 taxi plates!).
But, that’s not all. We also provide expert assistance if you are looking to avail of the National Transport Authority Wheelchair Accessible Vehicle Grant Scheme; when you are making a large financial investment in a wheelchair accessible vehicle, it’s essential to get the correct insurance cover to protect your financial outlay on a new vehicle.
And yet, there is more. For new entrants looking to get into driving a taxi for the first time, we can provide invaluable help. In the last 2 years access to taxi insurance for new PSV license holders has become increasingly difficult and more expensive – we’ve taken hundreds of drivers through this process successfully, so let us help you, too.
Last, but certainly not least, we can also help you if you cannot obtain insurance cover as a taxi driver in the open market. In the Irish market, everyone is entitled to a motor insurance quotation and this includes taxi drivers. Our deep understanding with the Declined Cases Committee process means we are able to provide clear, expert advice and guide you through the process to get a quotation as swiftly as the process allows.
For more details on our specialism in each of these areas, please read below.
+ Owner Drivers
As an owner driver, you make up the very lifeblood of our industry - there are more owner drivers than any other type of driver in the country. Whilst premiums for owner drivers, on average, remain the lowest in the taxi market, this only tells half the story…
Since November 2015, insurance premiums for the very best owner driver risks (i.e. those who've held a PSV license for over 10 years with a full no claims bonus and clean record) have increased by over 70% across the market. And remember, these are for the very best risks, many owner drivers have seen increases in excess of 100% during the same period of time.
Our intimate knowledge of the taxi insurance space combined with our position as an independent, impartial broker puts us in unique position to provide you with advice to suit your own individual needs and circumstances. So, whether you are claim free with a clean record or have suffered a claim (or claims!) in recent years, do get in touch and we'll seek out the best solution for you.
+ Rental Drivers
As a Rental Driver, technically, you do not purchase taxi insurance. This is because the National Transport Authority regulations require that all vehicle ownership documents, insurance policies and vehicle licenses are in the name of the owner, rather than the renter of the vehicle.
However, this does not mean your needs should not be considered in this process - you are a taxi driver, potentially looking to work in the industry for the long-term, so it is vital you ensure that the insurance policy covering you also protects your interests.
In recent years, the taxi insurance market has moved away from open drive fleet policies to rental policies which cover a single rental driver (you!), who has exclusive use of the insured vehicle.
In these circumstances you need to make sure that being a driver on the policy will serve your needs too - will you get a letter of driving experience giving you full credit for the claims free period on the policy? At TaxiFair, we deal with rental drivers every day, providing impartial advice to meet both their immediate needs and long-term aspirations, whether that is simply lowering their insurance costs as a long-term renter or trying to put themselves in the best position to get their own taxi plate in future. Please get in touch if you are seeking genuinely impartial advice on how best to structure your insurance needs.
+ PSV Operators and Multi-Vehicle License Owners
The rental community in the Irish Taxi market remains strong and with the only current route to getting a new taxi plate requiring significant financial investment (i.e. wheelchair vehicles), Multi-Vehicle License Owners provide important access to drivers looking to keep driving a taxi for a living.
As a Multi-Vehicle License Holder, you are dealing with the full gambit of issues seen in the taxi sector - from collecting rent from drivers, vehicle maintenance and of course, insurance!
In recent years insurance has become a bug bear for many Multi-Vehicle License Owners, making it difficult to retain drivers and even more challenging to get new drivers on the road. Many Multi-Vehicle License Owners are unable to rent out all vehicles/plates that they own because of this.
At TaxiFair, we understand the issues you face and work with many Multi-Vehicle License Owners to overcome these issues, securing the most suitable and competitive insurance solutions for your vehicles. Crucially, and importantly, we do not arrange fleet insurance; instead we arrange a single policy per vehicle, with a sole PSV driver per policy. This means that:
- Each policy is priced on its own merits, based solely on the driver's experience
- The driver attains his own driving experience, as he is the sole driver named on the policy, which is valuable to them
- A claim on one policy will not affect any of your other policies; you are purchasing a single policy and not a fleet policy.
- Unfortunately, the historical link between Multi-Vehicle License Owners and Open Drive Fleet policies (the single biggest driver of claims in the taxi market over the past decade) means insurers tend to view rental risks more negatively than owner driver risks.
However, at TaxiFair, we do not believe that to be the case. The reality in today's market is that rental policies are now based upon 1 driver and that has changed things dramatically. Multi-Vehicle Plate Owners are more careful who is renting their vehicles and the drivers themselves really value their no claims bonus/driving experience far more, which in turn, makes them far more accountable. We continually reiterate this important message to insurers in order to secure our clients the best possible quotations.
+ New Entrants to the Taxi Industry
If you have recently obtained your Public Service Vehicle Driving License or are looking to work as a driver in the Taxi Industry in the near future, please get in touch. It has never been more difficult for new entrants to the industry to obtain insurance cover, so the earlier you are fully informed, the better you can prepare. We will assess your driving history, experience and no claims bonus and advising the best way to secure competitive insurance via your desired route i.e. renting or via the wheelchair accessible vehicle grant scheme.
So, get in touch with us before you put a large deposit on a wheelchair accessible vehicle or agree a rental contract - we've seen many cases where drivers are unaware of the level of insurance premiums for new entrants and you will need to factor this important cost into your thinking.
Our vast knowledge of the taxi insurance market, coupled with our experience in helping so many new entrants to the market, means we are perfectly positioned to provide you with the vital, impartial advice you need to start your journey as a Taxi Driver.
+ Wheelchair Accessible Vehicles
The National Transport Authority has recently opened the Wheelchair Accessible Grant Scheme 2018 (WAV18). The scheme offers financial assistance of up to €7,500 per vehicle, dependent upon the vehicles age at the time of licensing. With 896 grants issued since 2014 (prior to the new grant opening in February 2018) it has proved very popular and for WAV18 the Grant Scheme is open ended, operating on a first come first served basis until all funding has been allocated. See the National Transport Authority website for further details.
The Wheelchair Grant Scheme is a fantastic opportunity, providing drivers with a route to get their own taxi vehicle license. However, whilst the grant is extremely generous, purchasing vehicles will still see you making a significant financial investment into your livelihood as a taxi driver. Whether you are new to the industry or looking to move from renting a taxi to driving your own, there are a plethora of things to consider from an insurance perspective. Will my named driving experience as a taxi driver help me now the new policy will be in my own name? Is my private car no claims bonus going to help me in regards to taxi insurance? Will the increased value of a wheelchair vehicle make a significant difference in the price of my insurance compared to my current vehicle?
At TaxiFair, we have arranged cover for a large number of Wheelchair Accessible Vehicles and understand the importance of every stage of the process - from securing a competitive initial quote to obtaining a certificate of insurance quickly and efficiently, through to booking your vehicle suitability test. So, please get in touch and let us help you secure the most suitable and competitive insurance cover available in the market.
+ Declined Cases Agreement Policies
If you are unable to obtain insurance in the Irish market and consistently being refused insurance by insurers, you should be aware, all is not lost. Insurance Ireland operates a Declined Cases Agreement which caters for this issue.
When you are in this position, you need to get 3 insurers to provide a letter to you, providing written confirmation that they are refusing to quote for your insurance (also referred to as ‘declinature letters’). These are then submitted to Insurance Ireland, who will appoint – effectively, force – an insurer to provide a quotation for you.
Things to be aware of:
This will provide a solution for almost all drivers, but not all. Appointed insurers can still refuse cover where providing insurance would be contrary to public interest.
Whilst insurers are effectively forced to provide a quotation, all they are obliged to do is provide a quotation, so:
- They may offer the minimum level of cover i.e. Road Traffic Act only or Third Party only and this will likely exclude the usual benefits associated with cover i.e. windscreen, motor rescue/breakdown and the like.
- Insurance Ireland have no influence on the premium offered and in some cases this can result in extremely high premiums being offered (we’ve seen premiums quoted in excess of €20,000 in some cases). This point is especially relevant in the Taxi sector should an insurer be appointed to your case who is not familiar with writing taxi business.
- The letters of declinature must be provided in the name of the policyholder. So, if you are renting a vehicle, even though the insurance is being refused due to your history/experience, the letters must be in the name of the person you are renting from (rather than your own name).
How can TaxiFair Insurance help me?
At TaxiFair Insurance, we’ve processed hundreds of Taxi cases through Insurance Ireland and are extremely familiar with the Declined Cases Agreement. This is important, because you must remember that insurers are effectively being forced to provide a quotation to you i.e. you sit outside their usual underwriting criteria.
The result of this is that insurers, especially those unfamiliar with writing taxi business, are extremely cautious before quoting – asking lots of questions, seeking extensive supporting documentation and often following up with further queries once documentation is received.
At TaxiFair Insurance we can help you from the get go, including:
- Initial Consultation; is the Declined Cases Agreement your only route to obtaining cover?
- Pre-screening of all documents; we will review all paperwork before it is submitted to Insurance Ireland and advise you of any additional documents/information you need to provide.
- Submit your case to Insurance Ireland and push for an insurer to be appointed as soon as possible.
- Once an insurer is appointed we will liaise with them and fight to secure the most competitive quotation on your behalf. This involves telling your story – detailing your history in full and reminding them that whilst they do not want to provide a quotation they must remember you are simply seeking to get on the road and earn a living as a Taxi driver.
We’ve been successful in guiding lots of driving through this process smoothly and would be delighted to assist you if you are unable to secure insurance cover in the open market.