RUNNING A TAXI FLEET: A deep dive into what the operators and the drivers want

Running a fleet of cabs can be a laborious business. Taking out and renewing individual policies for every vehicle in turn demands a lot of time and energy. That’s why many fleet operators opt for a taxi fleet policy instead. With this type of cover, they only need a single policy for their entire fleet of cabs.

With just one handy renewal date, it can mean less hassle when the policy renewal comes around again.

Whether they manage a fleet of black cabs, minicabs, minibuses or a mix of vehicles, taxi insurance brokers offer access to a range of insurance policies designed to suit different needs.

Similarly, they can arrange cover for a mix of uses, with some vehicles being public and others private hire. It’s important that operators find the right policy to match the volume and requirements of the vehicles which form part of their fleet.

Taxi insurance brokers also have access to a large panel of insurers who offer an experienced claims management service to guide operators through the process of making a claim.

The challenges of operating a taxi fleet

Running a taxi company can be very challenging. Taxi drivers often need to deal with a variety of driving conditions and different types of passengers. Owners of taxi fleets will be aware of these issues and have to resolve them as they arise.

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Taxi vehicles in their fleet are accumulating miles every hour and are exposed to many risks. It's not only about insuring their taxi fleet – they also need to make sure that their drivers are medically fit and have the correct taxi badge.

From keeping an eye on inexperienced taxi drivers to maintaining multiple vehicles, taxi fleet operators have a lot to deal with.

Strengthening fleet and relationship management

Experienced taxi insurance brokers know that close collaboration with customers leads to more effective risk management and smoother operational performance. Their insurer partners will encourage regular engagement through quarterly meetings – three-way conversations between the customer, insurer and broker.

These meetings provide a valuable opportunity to review fleet performance, address any outstanding claims, and explore ways to support customers in promoting safe driving habits and strong fleet management practices. They also help to ensure that vehicle maintenance schedules align with manufacturer recommendations, supporting long-term reliability and safety.

To build lasting partnerships, dedicated account handlers are always happy to meet face-to-face with fleet owners to understand their needs and develop strong, collaborative relationships.

Article by David Sweeney, Head of Taxi Broking at The Taxi Insurer