What is hire and reward insurance for taxis?
Hire and reward insurance covers you to carry passengers or goods in exchange for payment. It is a legal requirement for all taxi and private hire drivers.
Why taxi drivers need it
Hire and reward is the part of a taxi policy that allows you to carry fare-paying passengers. Ordinary car insurance specifically excludes this, so without it any claim involving passengers for payment would likely be refused.
It applies whether you drive a hackney carriage (public hire) or a private hire vehicle, and it sits alongside your usual choice of cover level:
- Third party only
- Third party, fire and theft
- Comprehensive
Most policies also let you add public liability and loss of earnings. Because premiums vary widely between specialist insurers, comparing hire and reward quotes is the simplest way to find cover suited to your licence and area.
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Is hire and reward the same as taxi insurance?
It's the core element of taxi insurance. A full taxi policy bundles hire and reward cover with the protections drivers need.
Do delivery drivers need hire and reward too?
Carrying goods for payment needs hire and reward for goods, which is a separate product from taxi passenger cover.
Can I get comprehensive hire and reward cover?
Yes. Hire and reward can be arranged at third party, third party fire and theft, or comprehensive level.