For all taxi drivers,
taxi insurance is one of the most important parts of your business. It can often also be one of the most expensive.
Whether it's
private hire insurance or
public hire insurance, getting the right insurance cover is essential to make sure that you, your vehicle, your passengers and the general public are all covered in the event of an accident.
With the economy on something of a knife-edge, it is also vital that you get the best deal on your
taxi insurance premium, without scrimping on the all-important cover.
One of the easiest ways to reduce your
taxi insurance quote is by opting for a higher voluntary excess. This, along with any compulsory excess, is the amount that you are willing to pay should you need to make a claim on your insurance policy. This may save you money when you take out your policy but you need to remember that you will have to pay out more if you make a claim.
Your age and driving experience can also play a part in reducing your premium. Many insurers prefer more experienced taxi drivers - drivers aged 30 or above with at least 2 years 'no claims bonus' will often receive extra discounts on their
taxi insurance premiums. Drivers with 5 or more years claim-free taxi driving could receive upto 60% discount.
You should also consider the cost of protecting your no-claims bonus. Protecting your no-claims bonus will increase your premium and you should weight-up the benefits before paying that extra amount.
Additional discounts may be earned by limiting the number of drivers on your
taxi insurance policy. 'Insured only' or 'insured and one named driver' policies limit the exposure to risk therefore generally result in lower premiums.
While keeping the cost of your
taxi insurance down is important, remember that getting the right cover is equally, if not more important.
Get a
taxi insurance quote online now at
choicequote.co.ukTerms and conditions apply. These definitions are for guidance only. For full details, please refer to your policy documentation.CQ