Toronto Mike

What Exactly Is Covered by The London PCO Cab Insurance?

The Public Carriage Office, sometimes known as the PCO, is an organisation that should be well-known to anyone working as a cab driver in London. All taxi licences in London, including those for public and private hire, are handed out by the PCO.

PCO insurance is the type of coverage that is required for anyone who drives a black London cab or minicab for "hire or reward." This requirement applies to both types of vehicles.

Who has a use for it?

There are two different kinds of taxis in London. Members of the general public are able to hail the famous black taxis of London, known as TX4s and TX5s, either on a street or at a taxi rank.

Cabs for hire or ridesharing services like Uber could be any make or model of car, but they still need to be reserved in advance.

Both sorts of taxis will be required to make certain that they have the appropriate PCO protection in place, in order to safeguard their drivers against any claims that may be made.

What kind of private car insurance should I have?

London is an extremely bustling city, and there are numerous dangers to be found here. As a taxi driver in London, you will spend lots of time on the roads, often in congested traffic, and will travel to a wide variety of neighbourhoods. There are three primary tiers of PCO cab cover offered, and they are as follows:

Only covering third parties is the most basic and inexpensive form of insurance coverage. In the event that you are involved in an accident, this kind of coverage will only compensate for the damage done to the vehicles of other people.

The protection provided by third-party fire and theft is marginally superior to that provided by fully comprehensive PCO car insurance, which provides the maximum level of cover.

What is the pricing for it?

Each taxi and its driver is different. There is no "one size fits all" method that can be used to predict how much your PCO insurance will cost. Your insurance price will be determined by factors such as your personal driving history, the number of points you currently have, the kind of cab you operate, and how frequently it is maintained.

In most cases, you can anticipate that the premium for your PCO taxi coverage would be higher than the premium for your private car insurance policy. This is due to the increased dangers that come with transporting passengers, as well as the increased annual mileage and total amount of time spent driving that London taxi drivers rack up.

How can I get a better deal on my car insurance with London PCO?

The cost of insuring any kind of car in London could be quite high. If you want to lower the cost of your taxi insurance, there are some simple steps you may take, including the following:

  • Maintain your taxi by having it serviced frequently

If you take good care of your black taxi or minicab, you can lessen the likelihood that it will be involved in an accident caused by a mechanical problem.

  • Maintain the safety of your taxi

Keeping your cab off the road as much as possible and installing modern safety equipment like steering lock and alarm should minimise the likelihood that it will be stolen, which should result in lower insurance costs.

  • Take care on the road

Insurance rates tend to be lower for drivers who have fewer points recorded on their driving records. Black box tech, which can illustrate driver safety and bring PCO coverage prices down, is something that many London taxi drivers are considering to install in their vehicles.

  • Compare your options

To obtain a pricing that is comparable to the market, seek bids from reputable insurers.

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