• What’s Involved in Running a Taxi Firm?
    Auto,  Business

    What’s Involved in Running a Taxi Firm?

    Taxis are something that most have used at one time or another. They are also a key part of the UK’s image, notably the iconic London Black Cab.

    If you’ve ever wondered what’s involved in operating a taxi firm, either because you’re interested in setting one up yourself or you’re just curious, then below are some of the main issues that taxi firm operators have to contend with.

    Insurance

    Getting the right insurance is very important for taxi firms. Some taxi firms will hire owner drivers who they require to take care of their own insurance. However for taxi firms that own their own cabs, they need to cover them with a suitable insurance policy.

    Most taxi firms will protect their vehicles on a taxi fleet insurance policy.  This provides them the ability to cover all their vehicles in their fleet for road risks as well as liability claims and breakdowns.

     

    Hiring drivers

    Hiring reliable drivers is another key aspect of running a thriving taxi firm. Most taxi Hull firms will look to hire drivers with more experience who are at least 25 years old. Drivers under 25 are statistically much more likely to be involved in accidents, resulting in them costing more to insure. This is one of the reasons why you hardly see very young taxi drivers, if at all.

    Hiring good drivers is not just about their age and years of experience though. A good taxi firm will take other factors into consideration. Good personality and a clean driving license are two other extremely essential factors when employing taxi drivers. Remember, taxi drivers are on the frontline representing the company so it is vital that they are polite and courteous at all times.

    Regulations

    Taxi firms must conform to their local council’s regulations. The main rules around taxis depend on whether they are public hire or private hire.

    • Public hire taxis – Public hire taxis can be flagged down on the street and can display a ‘taxi’ sign on the vehicle. They are generally more expensive to insure than private hire cabs since drivers are subject to more risk, such as picking up drunk and aggressive passengers outside of nightclubs and pubs.
    • Private hire cabs – Private hire cabs need to be booked in advance by phone or online. They cannot be flagged down on the street and they cannot display a ‘taxi’ sign on the vehicle itself.