The difference lies largely in the difference between public hire and private hire vehicles.
A public hire vehicle is a taxi which is licensed for use as a hackney carriage i.e. a black cab that you can flag down and do not have to pre-book. Whereas a private hire vehicle is a taxi or Uber which a customer must book in advance.
Both Public Hire Vehicle Insurance and Private Hire Vehicle Insurance incorporate a form of Hire and Reward cover – which is a class of insurance use that allows drivers to legally carry other people’s goods or members of the public in exchange for a fee.
However, Public Hire Insurance and Private Hire Insurance are different and the licensing authority you are accountable to will require a copy of your insurance certificate in order to verify that you have the correct cover.
While many assume that Public Hire Taxi Insurance will be more expensive than Private Hire, we have access to underwriters who can provide great rates on both vehicle types.