Tips for finding cheaper taxi insurance

Taxi imageAs a taxi driver it’s important to look after your bottom line and that means finding the right insurance. However, just because you want your cab completely covered; it doesn’t mean you have to pay sky high premiums. Follow our practical tips to help cut the cost of your taxi insurance:

Build-up no claims discount Careful drivers can earn serious discounts for claim free driving. After a year you can expect to cut premiums by 20% and after five years you could save as much as 60% on insurance costs.

Short Term Cover Some Insurers offer monthly ‘pay as you go’ policies which allow drivers to build up ‘no claims’ discounts (6 or 12 months) and be rewarded with cheaper annual premiums.

Get an experienced broker Taxi insurance is a specialist product and that means you need a specialist broker. A reputable broker with a proven track record will be able to tailor a quote to fit your individual needs and they’ll have access to great deals which you won’t find anywhere else.

Choose your taxi carefully If you drive a minicab your choice of vehicle will affect your premium. Insurers take into account a variety of factors when calculating taxi premiums, including: vehicle value, year of manufacture and number of seats.

Basic isn’t always best Taxi insurance policies cover the spectrum from Third Party to Comprehensive; what’s interesting is that comprehensive cover might cost less than you think. Get quotes for both levels of cover and you might be pleasantly surprised.

Protect yourself Some providers now offer discounted rates if you have a camera fitted in your vehicle to act as an independent witness in the event of an accident. The footage not only helps to determine who’s at fault (speeding up claims and saving costs), but also puts an end to bogus ‘crash for cash’ claims; after all the camera never lies.

White lies won’t wash Honesty is the best policy when it comes to taxi insurance. Fudging your personal details is illegal and could leave you seriously out of pocket if you need to make a claim. A specialist broker should be able to find competitive cover for all taxi drivers irrespective of age, experience and driving history.

Restrict your drivers Calculating insurance premiums is all about calculating risk, and by adding drivers to your policy you can reasonably expect premiums to reflect the riskiest driver.

Quoteline Direct is a specialist taxi insurance broker with more than 45 years’ experience. To find out more, or to get a quote visit our taxi insurance pages or Tel: 0161 874 7777 to speak with a consultant.

If you would rather talk face-to-face you can call into the National Taxi Centre, Botanical Avenue, Talbot Road, Old Trafford, Manchester, M16 OPQ









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