If you enter into an Individual Voluntary Arrangement (IVA), you will generally be allowed to retain your car provided that it is necessary for work or family transport reasons and the car’s value is not excessive.
Is an IVA a good idea?
An individual voluntary arrangement (IVA) can negatively affect your personal and professional life, and make a dent in your credit score. But, if managed well, an IVA can also help you get your finances back on track.
Are taxis insured?
If you drive any sort of vehicle for transporting people commercially, you’ll need a taxi licence and insurance by law. Policies can cover more than just your standard black cab – all sorts of private hire cars will need taxi insurance, as well as public hire vehicles like hackney carriages.
Can someone else drive my taxi?
No, the only person who is allowed to drive your private hire vehicle is the person who holds the appropriate local authority licence for the vehicle to be driven as a private hire. Regardless of the circumstances, nobody else may drive the vehicle.
Will I lose my car if I have an IVA? – Related Questions
What type of insurance do taxis use?
Do taxi drivers need Public Liability Insurance? Public Liability Insurance, or Taxi Liability Insurance, protects you and your business against any claims of injury or damage to property by someone in your care. Having this cover can prove invaluable, when you consider the risks you’re exposed to as a taxi driver.
What is public liability insurance for taxi?
What is Taxi Public Liability Insurance? Taxi Liability Insurance ensures that you’re protected whenever your passengers are in your care, and safeguards you and your business against any unforeseen circumstances involving your passengers.
Is a taxi a car?
A taxi, also known as a taxicab or simply a cab, is a type of vehicle for hire with a driver, used by a single passenger or small group of passengers, often for a non-shared ride. A taxicab conveys passengers between locations of their choice.
What is hire and reward car insurance?
Hire and Reward is a type of insurance that is a legal requirement for drivers who carry other people’s goods or passengers in return for payment. This type of policy is also known as class 3 insurance.
What does not for hire or reward mean?
Means you cant use the vehicle as a taxi.
What is hire insurance?
It’s a specialist product that covers loss or damage to your equipment when out on hire.
What is use for hire or reward?
‘Hire and reward’ is the legal term for payment for providing transport. It’s any payment, in cash or kind, which gives a person the right to be carried on a vehicle, regardless of whether that right is exercised. The payment may be made by the passenger or on the passenger’s behalf.
How many days grace do you get for car tax?
There are no longer any grace periods for car tax. When paper discs were still in existence, there used to be a five-day grace period to allow the new tax disc to arrive in the post.
Do you have to display tax disc?
From today you will no longer need to display a paper tax disc in your car window as records will, instead, be electronic. Here’s a guide to what you need to know about the system. What is happening to tax discs? From today, they are being scrapped so you will no longer need to display one in your car window.
What does carriage of own goods mean?
“Carriage of Own Goods” is a type of insurance policy for drivers who use their commercial vehicle for work purposes, carrying the tools of their trade, equipment and materials, or delivering their own goods to customers.
Can I insurance a van for personal use?
Just like insuring a car, you can get comprehensive cover, or third-party fire and theft. If you’re only using the van for personal use, you’ll need private van insurance. If you plan to use it for any kind of business – including commuting to a workplace – you’ll need commercial van insurance.
What does social domestic and pleasure mean?
Social, domestic & pleasure use allows you to drive your car privately, for your own personal use. Things like going to the shops, collecting family members or friends and commuting between your home and your place of work or study are all covered by this class of cover.
Whats is classed as a light van?
Light Commercial Vehicle (LCV)
A Light Commercial Vehicle or LCV is another term for a van, basically. It refers to vans that weigh 3500kgs (3.5-tonnes) or less, which includes vans like the Ford Transit or the Mercedes Sprinter.
Does van insurance cover you to drive a car?
In a word: no. If you own a van, whether you use it for commercial or recreational purposes, you’ll need to be insured to operate that specific vehicle. Your name will have to be listed on the van’s insurance policy, and any insurance you have for another vehicle isn’t portable to the van.
Is a Ford Transit a light van?
The Ford Transit is a family of light commercial vehicles manufactured by the Ford Motor Company since 1965, primarily as a cargo van, but also available in other configurations including a large passenger van (marketed as the Ford Tourneo in some markets since 1995), cutaway van chassis, and a pickup truck.
Is a VW Caddy a light van?
Released in 1995, the Volkswagen Caddy Typ 9K, or Volkswagen Polo Caddy, was a light van, designed by Volkswagen’s Spanish subsidiary SEAT, and derived from the SEAT Ibiza 6K, on the Volkswagen Group A03 platform.
William Getty lives and breathes cars. He started driving cars as a 12 year old on the racetrack with his dad. Since then cars has always been a big part of Williams life.
In his garage you can find his beloved 2005 Ford Mustang, as well as a 2020 Audi A3.
