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Taxi drivers offered pay-as-you-go insurance as insurd and GoShorty launch short-term hire and reward cover
Digital insurance broker insurd has partnered with temporary vehicle insurance provider GoShorty to launch short-term cover for licensed taxi and private hire drivers.
The product offers standalone, fully comprehensive hire and reward insurance for fixed periods of seven, 14, 21 or 28 days. It is aimed at drivers who do not require a conventional annual policy, including seasonal and part-time workers and people entering the licensed trade.
Annual taxi insurance will remain part of insurd’s core offering. The North Wales-based broker said the temporary product was designed to address separate operational requirements rather than replace year-round policies held by regular full-time drivers.
Cover applies to both public hire and private hire work under the same policy. Drivers can also undertake food and parcel deliveries for hire and reward, potentially allowing them to move between passenger and courier work without purchasing separate delivery insurance.
No black box or dashcam installation is required as a condition of the policy. According to insurd, taking temporary cover will also have no effect on the no-claims bonus attached to a driver’s existing annual policy.
Craig Shaw, Director at insurd, said: “For most taxi and private hire drivers, an annual policy is absolutely the right solution, and arranging that specialist cover has always been a core part of what we do at insurd.
“But we also recognise that the way people work in the taxi trade has changed. Seasonal driving, first-time drivers finding their feet, or part-time work alongside another job all create situations where a 12-month policy just doesn’t suit.
“That’s the gap temporary taxi insurance fills perfectly. We’re delighted to be working with GoShorty on this. They’re the specialists in short-term cover and their product is exactly what the market needs. Drivers can now get fully compliant, comprehensive hire and reward cover in under two minutes, sitting alongside the annual policies we’ve always provided.”
Eligibility varies according to the duration selected. Drivers aged between 30 and 74 can apply for seven, 14 and 21-day policies, while the 28-day option accepts applicants aged from 23 to 75.
Applicants must hold a valid taxi or private hire driver badge issued by a recognised local authority. The vehicle must be licensed by the same authority that issued the driver’s badge, a requirement that drivers working under different licensing arrangements will need to consider before applying.
The policy can cover vehicles valued at up to £50,000 and licensed to carry no more than seven passengers. Applications may be considered from drivers with up to nine penalty points and as many as two claims during the previous three years, although acceptance remains subject to the insurer’s eligibility checks and terms.
Most local authority licensing areas in England, Wales and Scotland are included, according to the companies. Vehicles licensed within London’s PCO regime are not currently eligible, limiting the launch to drivers operating outside the capital.
Chris Evitt, Director of Capacity and Distribution at GoShorty, said: “We’re excited to work with insurd to bring more flexibility to taxi and private hire drivers across the UK.
“We know that not every driver wants, or needs, to commit to an annual policy, so this partnership is all about giving drivers more choice, more control and access to comprehensive short-term cover that fits around the way they live and work.”
Department for Transport figures cited by insurd show that more than 313,000 licensed taxi and private hire vehicles operate in England. The broker believes changing working patterns, seasonal demand and movement between annual insurance providers have created a market for policies that bridge shorter periods.
The taxi product joins insurd’s existing temporary car, van, motorhome, campervan and impound-release insurance products arranged through GoShorty. The broker says quotations, purchases and delivery of policy documents can be completed online in under two minutes.
