INSURANCE INSIGHTS
HOW IS THEFT AFFECTING THE TAXI AND PHV INSURANCE INDUSTRY?
Article by The Taxi Insurer
0121 506 2397
www.taxiinsurer.co.uk
Taxis and private hire vehicles (PHVs) are generally unpopular targets for theft, largely because they tend to be higher mileage vehicles. In many circumstances, they also feature some form of external branding, or stickers in the windows or on the dashboard, which can dissuade potential thieves.
While you do occasionally come across PHV drivers with a smart Mercedes or BMW, most cabbies aren’t driving vehicles like Range Rovers, which have been targeted by thieves in recent years.
Popular taxi model vulnerable to theft
Having said that, the Hyundai Ionic is a popular PHV model which is vulnerable to theft. Key emulator devices marketed online mimic the car’s electronic key and have enabled criminals to steal the model within two minutes.
Instances of vehicles being stolen in this way are on the rise. The 2022 to 2023 Crime Survey for England and Wales reveals that offenders manipulated a signal from a remote locking device in 40% of vehicle thefts. Earlier this year, the government moved to ban such devices, warning that anyone in possession of or found to have imported one could face a maximum penalty of five years in prison and an unlimited fine.
Elliott Ingram had his Ionic 5 stolen from his driveway by a thief using such a device in less than 20 seconds. Citing a breach of the Consumer Rights Act, he said that he intended to file a claim against Hyundai over the theft unless he received compensation.
Perhaps understandably, insurance providers have previously been reluctant to offer quotes for this model of Hyundai. However, they’re now recognising that they may have been overly hasty when they made that initial decision, and are now more prepared to offer cover for most versions of the Ionic.
52 Preventative measures
You can protect your vehicle from theft using standard security measures, such as fitting an alarm, immobiliser or tracking device.
Although a tracking device can’t prevent your vehicle from being stolen, it can increase the chances of the police finding and returning it. Upgrading your factory- fitted immobiliser to a Thatcham-approved car alarm can also help to reduce your insurance premium.
Similarly, thieves may be put off by any highly visual deterrent added to your vehicle, such as locks on the steering wheel, pedals or gearstick. These mechanical security devices may be more traditional, but they’re becoming increasingly popular as owners come to realise how easily electronic security systems can be overcome these days. They’re often sold in bright colours, and may deter opportunistic thieves looking for a quick and easy target.
In addition, you could use a Faraday pouch to stop the signal being admitted from the key, protecting you from the device used by the thieves.
When considering a risk profile, insurance providers will establish with customers any security measures they have in place to prevent potential theft. They will then take these into consideration when reviewing the overall risk and they can sometimes help to reduce premiums.
OCTOBER 2025 PHTM
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74
