Accidental DamageCovers unexpected, sudden damage to property or belongings.
BadgeThe driver’s licensing ID issued by their local council.
Bluetooth Wedge / BeaconA small device installed in the vehicle to track trips.
Bolt-on / Optional CoverExtra cover you can include in a policy, like legal protection or breakdown cover.
BrokerA company or individual who arranges insurance on your behalf.
Buildings InsuranceCovers damage to the structure of a property, including walls, roof, and permanent fixtures.
Business InterruptionCovers lost income if a business is temporarily unable to operate due to an insured event.
CancellationEnding a policy before the expiry date.
Carriage of Goods for Hire & RewardCover for transporting goods for payment (e.g., couriers, delivery drivers).
Carriage of Own GoodsCover for transporting tools or goods owned by the driver/business.
Certificate of InsuranceThe document confirming your insurance cover
ClaimA request to your insurer for payment or coverage following an incident.
Commercial Vehicle PolicyInsurance designed for vehicles used for business purposes.
Contents InsuranceCovers damage or loss of items inside a property, such as furniture, equipment, and stock.
Contract WorksInsurance covering ongoing construction or project work being transported or handled.
Cyber InsuranceCovers businesses against cyberattacks, data breaches, and digital fraud.
Direct Debt MandateA form which needs to be signed and dated to confirm bank details are correct
Directors & Officers (D&O) InsuranceCovers company leaders against claims for wrongful acts in their managerial roles.
Driver CoverInsurance that covers the driver while operating a vehicle for hire.
Driving Score / Behaviour RatingA rating derived from telematics data to determine premium adjustments.
Employers’ LiabilityCovers claims from employees injured or made ill at work.
EndorsementA change or addition to your existing policy.
Ex-Gratia PaymentA payment made by the insurer as a goodwill gesture, not required by the policy.
ExcessThe portion of a claim you agree to pay before the insurer covers the rest.
Excess LayeringUsing multiple policies to cover higher-value risks.
ExclusionSpecific situations or events that your policy does not cover.
Finance Agreement FormA contract outlining the terms of a credit arrangement for paying your insurance in instalments.
Fleet InsuranceA single policy covering multiple business vehicles.
Geo-Location Tracking GPS tracking used to monitor route and driving patterns.
Goods in TransitCoverage for items being transported by the vehicle.
Hackney Carriage / Black CabTaxis that can be hailed directly from the street or taxi ranks.
Hire & RewardA term for insurance covering vehicles used to carry passengers or goods for payment.
HMO InsuranceSpecialized cover for Houses in Multiple Occupation, protecting both building and tenant risks.
Landlord InsuranceProtects rental property owners against risks such as property damage or tenant default.
Limit of LiabilityThe maximum amount your insurer will pay for a claim.
Listed Building InsuranceCovers historical or protected properties that may need specialist repair.
Load SecurityRequirements for safely securing transported goods.
Market ValueThe value of your vehicle at the time of the incident.
Material FactsInformation you must disclose that could affect your insurance.
No-Claims BonusA discount given for not making any claims during a set period.
Non-DisclosureFailing to provide required information, which may void a policy.
NTU (Not Taken Up)When a policy is cancelled before it officially starts.
Operator LicenceLicence required to accept and manage booking jobs.
Payment CycleThe stage where the bank is preparing to collect your scheduled direct debit payment.
PCO Licence (Public Carriage Office Licence)A licence issued by Transport for London (TfL) that certifies a driver or vehicle is authorised to operate as a private hire vehicle in London.
PingA communication signal from the telematics device to confirm a journey is being tracked.
Ply for HireThe legal ability for a taxi to pick passengers up without pre-booking.
PolicyThe legal contract between you and the insurer that outlines your cover.
PolicyholderThe person or organisation that owns the insurance policy.
PremiumThe amount you pay for your insurance policy, usually monthly or annually.
Private Hire Vehicle (PHV)Vehicles that must be pre-booked, e.g., minicabs.
Private Hire/Hackney Carriage Vehicle LicenceThe official licensing certificate for your vehicle to be a taxi.
Product LiabilityCovers harm caused by products you manufacture or sell.
Professional IndemnityProtects businesses against claims of negligence or mistakes in professional services.
Public LiabilityProtects businesses against claims from members of the public injured or whose property is damaged.
Push NotificationsApp alerts to remind drivers about trips, insurance updates, or safety tips.
QuoteAn estimate of the premium based on your details and risk profile.
RenewalThe process of extending your insurance policy for another term.
ScheduleA document detailing your specific coverage, vehicle, drivers, and premium.
Statement of FactA document summarising all the information you provided to the insurer when the policy was arranged.
SubsidenceStructural movement of the building, often requiring special cover.
Taxi Metered TripsTrips recorded via a meter, often required for claims verification.
Telematics Technology that monitors driving behaviour using a device or app.
Third Party LiabilityCovers damage caused by your vehicle to others or their property.
Total Loss / Write-OffWhen a vehicle is too damaged to repair or repair costs exceed its value.
Trade Credit InsuranceCovers losses from customer non-payment.
Trip RecordingCapturing details such as speed, braking, acceleration, and phone usage.
UnderwritingThe process insurers use to assess risk and decide the terms of a policy.
Unoccupied Property InsuranceCoverage for buildings left empty for extended periods.
Vehicle SpecificationsDetails about the vehicle type and model affecting premium calculations.
