The difference lies widely in the difference between Public Hire Insurance and private hire insurance vehicles or transports. A public hire transport or vehicle is a taxi which is licensed for use as a hackney carriage such black cab that you could just flag down. You do not need to prebook the vehicle or transport. And if we talk about private hire vehicle or transport then private hire vehicle is a taxi or uber that a customer needs to book in advance.
Both the public hire insurance and private hire transport or vehicle insurance includes a form of hire and reward protection which is a class of insurance use that permits drivers to drive legally carry other people’s goods or members of the public in exchange for a free.
Public Hire Insurance and private hire insurance are the insurance policies and the licensing authority you are accountable to would also need a copy of your insurance certificate in order to verify that you have the best and suitable protection.
Why Do You Need Public Hire Insurance?
If you are working as a taxi driver then you really need to make sure that your car is insured fully before starting to earn money and face any issues such as car accidents and you do not need to face any tough or difficult situation so public hire insurance is your need generally. There are two kinds of taxis that you could get public hire vehicles and private hire vehicles or transports.
Detailing About Public Hire:
If we talk about public hire services then we would know that public hire services are latest and they do not need proper documentation procedure in which you are responsible to want a duplicate certificate of your insurance in order to confirm that you have the suitable and right type of protection. You also could not operate as a licensed cab driver without the suitable and perfect insurance and for this, insurance specialist agent or broker could help you. He would definitely guide you on what type of insurance is a must-have for you.
What protection You would Get In Public Hire Insurance?
It is suggested to take advice from the local authority. Additional protection might also include breakdown coverage, loss of earnings, injury or illness insurance.
Merits of Public Hire Insurance:
Public hire insurance also provides you an opportunity to get any deal they offer such as a quarter, annually, or monthly deals. You could also choose any option according to your work or which suits you the best.
Private Hire Vehicle:
Private hire vehicle is getting famous day by day and it has become in trend these days. But first you need to know the importance of private hire. If you are working as a private hire driver then you need to have insurance for your car. This because, in case if you face any damage or loss then the private hire insurance would help you to get a claim instantly. You also need to make sure that you have the legal right in order to protect yourself or your vehicle or transport and Chauffeur Car insurance is also a type of private hire vehicle insurance. It also makes sure that you meet all the legal requirements.
Levels of Private Hire Insurance:
There are different levels of private hire insurance policy such as Third Party Only, Third Party Fire and Theft, Comprehensive. In the third party only, if you are involved in an accident and it is done by another party then your loss will be covered. This is basic protection. The person who owns this insurance will be responsible for any damage to their own vehicle due to their driver. After this comes Third party fire and theft, it protects an additional layer of protection to your insurance. Then the last one is comprehensive Insurance Service, It gives you total protection, it covers all the above-mentioned insurance against any damage to your own vehicle.