Hire and Reward Insurance

We have extensive experience in Taxi and Hire and Reward Insurance, and are able to offer extremely competitive rates across the UK.

Hire and Reward Insurance is a class of insurance use which allows you to legally carry other people’s goods or passengers in return for payment. Hire and Reward Insurance is essential for Taxi Drivers, Courier drivers, Private Hire Drivers, Chauffeur Drivers or anyone that carries people or property of others in exchange for a fee.

We have over 15 years experience specialising in insuring individuals and business for Hire and Reward Insurance.

Our policies can include the following benefits:

•  Direct Debit options to spread the payments out throughout the term of the policy
• In house Claims manager to assist during accidents and loss recovery
• Replacement vehicles for Fault and Non Fault Accidents
• Competitive Rates for single vehicle or fleets
• Exclusive schemes not available to other Brokers
• Cover for a variety of vehicles used for Hire and Reward, from purpose built Taxis, Minicabs through to Minibuses and Lorries.
• Great new driver rates and No claims bonus discounts
• Home start and roadside breakdown cover
• Unlimited windscreen cover
• Public Liability Cover
• Employer’s Liability Cover – If you have employ any staff we can arrange cover

Call one of our experienced staff today on 0208 691 9691 to see how much you could save!

What Affects the Cost of your Premium?

Insuring your vehicle for Hire and Reward will typically cost more than a standard private car policy, due to the fact that you are insuring not only the vehicle, but also passengers and/or goods.

The price of the policy will depend on several considerations by the insurers these could include:

Annual Mileage
Individuals will have to provide their expected annual mileage. Those completing more miles during the course of the year tend to be more ‘’at risk’’ of having accident than those that don’t due to them spending more time on the road.

Driver Age
Insurers tend to decrease premiums as individuals get older and gain more experience.

Cost of Vehicle
Insurers will take into consideration the cost of a vehicle as they may be liable for a larger pay-out should the vehicle be stolen or written off.

Experience
Insurers will look into whether you have experience, you may have not owned your own vehicle yet, you may have been renting a vehicle, most insurers will take this into consideration (providing no claims) and allow a discount for this.

No Claims Bonus
If you have already built up bonus in the vehicle on a High and Reward Policy Insurers will give you a discount.

Claims
Insurers ask whether there have been any claims in the last 5 years, they will take this into account when pricing a policy. At Quotax we have a large number of Hire and Reward Insurers, even if you have been involved in claims we can often find you a competitive price.