Your guide to the hard market
Levels of Vehicle Cover
There are three levels of vehicle cover you can choose from:
Third party only
Your legal liability for injury or damage you or permitted drivers may cause to others as provided by Third Party cover.
Third party, fire and theft
Fire and theft cover to your car and your legal liability for injury or damage you or permitted drivers may cause to others as provided by Third Party Fire & Theft cover.
Loss or damage to your car through accident, fire or theft and legal liability for injury or damage you or permitted drivers may cause to others as provided by Comprehensive cover .
Want to extend your coverage even further?
You could benefit from additional cover such as Breakdown, GAP or Excess Protection.
What type of liability cover do you need?
There are three main types of liability cover
Liability cover protects companies and its members against liability claims made against them for damage or injury to people or their property. It covers the cost of areas such as defence, legal costs and legal payouts.
Public Liability insurance isn’t a legal requirement, although some local authorities might require you to have it. Its purpose is to cover any damages awarded to a member of the public due to an injury or damage to their property caused by you or your business.
If you employ one or more members of staff, you are legally obliged to take out Employer’s Liability Insurance for a minimum of £5m. This will cover you if an employee or ex-employee make a claim for illness or injury caused by your business, including compensation costs and legal fees.
If someone, or their property, has been damaged or injured by a product sold by your business, they have grounds to make a claim against you. Even if the product wasn’t manufactured by your business but includes the name of your business or if you have repaired/refurbished it, you may still be liable.
What’s the difference between Public and Private Hire Insurance?
The type of taxi you run will make a difference towards the policy you need.
Private Hire Insurance covers taxis which can be pre-booked or booked at a taxi rank, they cannot be hailed in the street.
Public Hire Insurance covers taxis which can also be pre-booked, or booked in a taxi rank however they CAN be hailed in the street. These are often referred to as ‘black cabs’.
How could I reduce the cost of my Fleet Insurance?
If you have the correct security, staff and procedures in place, you could benefit from reduced premiums for your Fleet Insurance.
- Fit your vehicles with dashcams
- Keep vehicles parked safely overnight
- Employ drivers with clean records
- Conduct risk assessment
- Invest in GPS tracking software
We have been using The Insurance Centre for a good number of years and they have always offered very competitive prices and they also answer any questions and queries efficiently.
Being able to call or visit the office has meant I’ve not had to spend time trying to contact insurance companies, which has enabled me to concentrate on other areas of our business.
I highly recommend this company and wouldn’t consider using anywhere else for our insurance needs. They are centred around customer care and the dedicated team are friendly, approachable and highly professional.
TIC are a company that care and they always go the extra mile.
The Insurance Centre has provided insurance services to our company for a number of years. Their approach to customer service is incomparable, with expert advice and the most competitively priced policies to suit our business needs.
The support continues all through the insurance process from obtaining the initial quotations, changes to the cover during the term of the policy and providing assistance during accidents and claims. The Insurance Centre responds promptly and professionally to any communication.
We would highly recommend the company to anyone who is looking for a helpful, friendly, proactive and efficient approach to insurance services.
| Bay Scaffolding Ltd
I found The Insurance Centre a great company to deal with when sourcing my combined brewery and tap room insurance policy.
Suzanne’s advice was second-to-none, her attention to detail and tenacious approach meant that I was covered when my business was ready to open at a premium that was the most competitive amongst the quotes I had obtained. I will definitely be working with The Insurance Centre again in the future.
Carnival Brewing Company|
Ourselves and a number of our extended family members have used The Insurance Centre for the past 30 plus years for both our business and personal insurances. Nothing is too much trouble and all our queries are dealt with swiftly. We could not recommend them highly enough.
High Net Worth and Property portfolio client|
Frequently Asked Questions
Due to a large amount of their working lives spent in urban built-up areas and the pitfalls surrounding this, Public Hire Insurance premiums tend to be a little more. However at The Insurance Centre we aim to source great rates for either.
Private van use is considered as any social activity in which you use your van, this could involve going camping, surfing, meeting friends or visiting your allotment. If it isn’t considered as work then its private van use.
However, if you commute to at least ONE place of work in your van, then you could require insurance for commercial van use. It’s also interesting to note that if you use your van to sell at a car boot sale on a weekly basis, you will also need commercial van insurance.
Commercial use is typically using your van for work purposes, under any context including transporting tools, trading, couriering and haulage.
Directors of a company can cover their personal vehicles under a fleet policy, as long as they are directly registered to the directors in question.
If you require breakdown cover, it can be included as a feature of the policy. The beauty of these covers is that they are flexible so to a degree, you can pick and choose the features that are relevant to your business.
Yes! If you require European Cover as part of your Haulage Insurance, The Insurance Centre can certainly sort that for you.
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