Getting The Best Deal on Taxi Insurance

If you drive a taxi for a living then you’ll know that it can come with a lot of overheads. In addition to the cost of the vehicle itself, you also have to think about fuel costs, maintenance and insurance.¬†Insurance in particular can be a very big expense for taxi drivers. Luckily there are ways to keep the cost of taxi insurance down.

With this in mind below are some of the best ways to save money on taxi insurance.

Make your taxi secure

A very good way to lower the cost of taxi insurance is to make your vehicle as secure as possible. Many taxi drivers now use CCTV inside the cab in order to reduce the likelihood of aggressive behaviour from passengers. Another good way to make your taxi secure is to modify your vehicle so the doors can only be opened from the inside. This reduces the chance of a drunk/unfit passenger jumping into your vehicle without your permission.

Limit named drivers

If you use your taxi as an everyday vehicle then it might be tempting to add other people to the policy, such as your partner. However this can cause the cost of your taxi insurance to increase considerably, particularly if the other person has points on their licence or a conviction. You should think carefully about this if you want to keep the cost of your policy to a minimum.

Get a lot of quotes

Getting quotes from a lot of different insurance providers is another excellent way to save money on taxi insurance. By getting quotes from a lot of insurers, you can then compare them and see which companies are offering you the best deal. All you have to do is pick the policy that you feel is best.

Build your NCB

Your No Claims Bonus is something that you must build up over time. By avoiding making claims on your policy you can reap the benefits by paying a lower premium the next year. Because of this a lot of people will avoid making unnecessary claims on their policy for things like minor scratches and windscreen cracks.

Get a fleet policy

If you run a taxi firm and have a number of taxis that you want to insure then one of the best ways to do it is by getting a taxi fleet insurance policy. A fleet policy will usually work out cheaper than insurance vehicles separately and is of course much easier to keep track of.

Pay on an annual basis

If you can afford to pay for cover on an annual basis then you’ll usually be able to save a good amount with most insurance providers. This does come with the downside of paying more upfront however.