FAQs & Glossary Of Terms

Frequently asked questions

Here you will find the answers to some of the repeated questions we are asked. If you cannot find the answer to your question here, please do not hesitate to contact one of our advisers who will be more than happy to assist you.

How do I cancel my policy?

You can cancel your policy at any time by providing written notice (including the date the policy is to be canceled and the reason why) and by returning any valid insurance certificate(s) or cover note(s). The cancellation date cannot be back dated and therefore cancellation will only take place from the date the written instruction and insurance document is received. It is to be noted that NO REFUND is given by the insurer where an accident or claim has been reported under the policy during the current year (including unsettled claims). Under these circumstances, the entire premium you owe under your policy (or insurance finance agreement) will become payable.

Can I ‘suspend’ or ‘freeze’ my insurance policy?

NO. There are no provisions under a taxi policy to ‘suspend’ or ‘freeze’ the cover.

What happens if I leave the vehicle ignition key(s) in or on my vehicle and it is stolen or attempted to be stolen?

The majority of insurance policies DO NOT provide cover where this happens. It is therefore important that you remove all keys from your vehicle when the vehicle is left unattended. Furthermore, you are advised to ensure that all windows and doors are locked and any additional security (ie. Alarm and/or immobilizer) is activated when the vehicle is left unattended.

Do I get ‘Driving Other Cars’ cover on a taxi policy?

NO. This is not covered by any of our private hire, public hire or other hire & reward policies and such cover is specifically excluded.

Can I include a driver on my taxi policy for social domestic & pleasure use?

NO. Such use will only be provided where the driver holds an appropriate private hire or public hire license. There are no exceptions to this rule, even if the taxi plates and signs are removed from the vehicle.

What will I have to do if I have an accident or wish to claim on my policy?

It is a condition of all policies that ALL accidents & incidents (including fire & theft losses) MUST be reported to the insurer as soon as possible and in good time. This includes none fault accidents and accidents that are to be settled privately no matter how small or trivial.

If you receive notice of a claim from someone else, you must tell your insurer immediately and send any correspondence you receive to them. This will include any writ, summons and solicitors letters you may receive. You must also advise your insurer immediately if you are about to be prosecuted or have to go to an inquest.

You must not admit liability for, or offer to settle, any claim without the permission of your insurer

You must also give your insurer all the help and information they need to enable them to deal with any claim or incident.

Will I be insured if I have not renewed my policy by the renewal expiry date?

NO. There are no ‘Days Of Grace’ on any UK motor insurance policies and all cover will cease from the renewal expiry date if the policy has not been renewed (ie. by the payment of an insurance premium).

Will my insurance policy be cancelled if I do not maintain my payments?

YES. Failure to maintain your insurance payments will result in the cancellation of your insurance by giving you 7 days written notice to your last known address. Should your policy be cancelled under these circumstances, then cover cannot be reinstated and a new policy will have to be arranged.

What would happen if I picked up a passenger (who was not pre-booked) and my vehicle is plated for Private Hire?

It is a condition of a motor insurance policy that any person permitted to drive the insured vehicle shall hold an appropriate driving license (ie private hire or public hire license where appropriate) and that the vehicle is used for the specific purpose as outlined in the relevant vehicle license issued. If you do not comply with such rules, your insurer will not pay for any accident, injury, loss, damage, liability or consequential loss unless the insurer is required to do so by a relevant road traffic law (ie. injury to third parties). In such circumstances where the insurer has to deal with a third party injury claim due to RTA law, then the insurer may decide to recover their outlay from the policyholder in person should they see fit.

Will anyone other than myself be able to make changes to my policy?

NO. We are only able to make changes to your policy or to discuss aspects of your policy (including claims) with the policyholder’s instructions. This decision has been made for yours and our protection. The only exception to this rule is where we receive written instructions from you to do so.

Will I be charged for duplicate insurance documents?

YES. We, as your agent, will make a charge as specified in our Terms Of Business Agreement for a duplicate certificate or Cover note where the original has been lost, misplaced or destroyed. This charge will be in addition to any charge applied by the insurer.

Can I pay my taxi insurance quarterly (ie every 3 months)?

NO. We do not offer payments on a quarterly basis (ie at 3 months intervals). Penk Insurance offer an installment plan of their own for the payment of an annual insurance premium (ie over 2, 3 or 4 consecutive monthly payments). They may offer you direct debit over a longer period by using the insurers own facility (where available) or by using an insurance finance provider (subject to status). Details will be provided at the quotation or renewal stage and the interest charge will be disclosed.

What is an insurance finance agreement and how does it work? 

Not everyone is able to pay for their insurance premium in full and you may wish to consider taking out a finance agreement (a loan) to pay your premium. At your request, we can look at arranging a finance agreement for you. If accepted, we will provide you with a finance agreement that will detail the terms & conditions and we will disclose the level of interest that will apply.The finance company will then pay us the funded amount and we will pass this onto your insurer to pay your premium. You will then be responsible for paying the funded amount by installments at regular monthly intervals by direct debit. Should you fail to maintain your payments by direct debit and the finance company cancel the agreement in force, then you will be required to pay the total balance owed immediately. Failure to do so will result in your insurance policy being cancelled by giving you 7 days notice. Any refund from the cancelled insurance policy will be passed onto the finance company to clear any outstanding debt (including charges). You will be responsible for paying any shortfall (where applicable) to the finance company. NOTE: If you have made a claim on your policy or have reported an accident during the currency of the policy, then there will be no cancellation refund due from the insurer and you will be responsible for the payment of the whole balance of the loan to the finance provider.

What is the Motor Insurance Database (MID)?

Your policy details will be added to the Motor Insurance Database (MID) that is run by the Motor Insurers’ Information Centre (MiiC). This information is shared by a number of companies including the Police, Insurance Companies, the DVLA, Solicitors & Claims Handling Companies for the prevention & detection of crime and fraud. Insurers, the Motor Insurers Bureau (MIB) and the MiiC may search the MID to obtain relevant policy information if you are involved in an accident (in the UK or abroad). You can find out more by visiting www.miic.org.uk.

What is the Anti-Fraud and Theft Register?

Insurers pass information to the Claims and Underwriting Exchange Register (CUE) run by the Insurance Database Services Ltd (IDS) and the Motor Insurance Anti-Fraud and Theft Register run by the Association Of British Insurers (ABI).

The aim is to help insurers check information provided and also to prevent fraudulent claims. Insurers may search the registers at the time you make a request for insurance or at the point that a claim is made. It is therefore important that you disclose ALL previous accidents, claims and losses (including fire & theft claims) as requested on the proposal form and of any incident happening during the currency of the policy (which may or may not give rise to a claim). Warning: Failure to do so could invalidate your cover in whole or in part.

Glossary of terms