It looks like it’s a tough time to be a taxi driver in Ireland.
Not only are they being denied cover, these particular motorists also face high insurance costs – estimated to be in the area of €2,500 – when they do get insured, according to a report by The Times.
“Insurance Ireland fully recognises the concerns of affected drivers and has pressed for urgent action on the cost of claims,” the report quoted an Insurance Ireland spokesperson as saying – the spokesperson also highlighted the existence of extreme volatility within the motor claims environment.
Meanwhile Sinn Féin finance spokesperson Pearse Doherty described the number of taxi drivers being refused insurance as “staggering.” Citing figures provided by Insurance Ireland in a report to the Department of Finance, the newspaper said 279 taxi and hackney licence holders were turned down by insurers on the open market in 2017 – a remarkable increase from 2012’s zero record.
For all motorists on Irish roads, the overall number reached 1,423 last year from only 178 in 2012. Figures from 2016 were even higher, with nearly 2,000 drivers denied coverage, 375 of which drove taxis and hackneys.
As for the cost in the last 12 to 18 months, Jim Waldron of the National Private Hire and Taxi Association – which is calling for increased market competition to drive prices down – noted hikes of more than 100%.
“The average [cost of insurance] for most taxi drivers this year is probably in or around €2,500,” Waldron was quoted as saying. “Most drivers feel like they’re one accident away from being unemployed because the renewal of their policy the following year would be so expensive.”
