I, alongside my spouse, currently own and drive two vehicles. Like many others, we face an unsettling reality. If we were to retire from our roles within the Taxi and Private Hire industry, we would be harshly penalized, being forced to start from scratch on a domestic policy. This system feels unfair, unconsidered, and unnecessarily punitive.

Most Motor insurance providers currently do not recognize the No Claims Discount (NCD) earned by owner-drivers in the Taxi and Private Hire industry when they retire or leave this profession. This forces many retirees, often reliant solely on a pension, to burden an unreasonably high premium - an undue financial strain at a time in life when financial security should be a certainty.

We drive the same type of cars and minibuses that a regular policy would cover, however, the majority of insurers fail to apply the hard-earned NCDs, insisting that it's a different form of insurance. This policy needs to be re-evaluated in light of the realities faced by many industry retirees.

As per the data from the Annual Local Area Taxi, PHV and their Driver Statistics, England: 2019, there were nearly 370,000 licensed taxi or private hire vehicles in England alone. This means a colossal number of potential future retirees being affected by this outdated and exploitative arrangement (Source: Gov.uk, Annual Taxi Statistics 2019).

The extension of recognizing the NCD in the motor insurance policy will provide a sense of justice and financial relief for retiring owner-drivers in the society, ensuring their hard-earned safe driving years are rewarded and not discarded.

We therefore ask everyone to support this cause. Insist on the equitable recognition of No Claims Discount by insurance companies for Taxi/Private Hire owner-drivers transitioning to retirement. You can do so by signing this petition.