Everyone who drives on the road needs insurance, but it’s even more vital for taxi drivers get the right policy. There are many mistakes that can be made, so it’s important not to fall into any of the traps.
Before you apply for taxi insurance, you first need to identify what type of policy you require whether it be for Public or Private Hire. You can read ‘What is the Difference between Public and Private Hire Taxi Insurance?‘ in order to get a better idea.
The first step is naturally not to just settle for the first quote that you find. Using an insurance broker instead can be perfect as they will do the work for you and search their database to find you the best deal. There are many different aspects that can affect a quote, so just going to one company can be a bad idea.
You will be expected to pay a higher premium if you’re a new driver, that’s something that you can’t get away from. Once you have built up your no claims bonus from safe driving, then you’ll see your premiums drop year-on-year.
Having an accident is tough for anyone, but for a taxi driver, it could mean losing your income. One safeguard against this would be to get taxi insurance cover which includes a replacement vehicle, this will give you the peace of mind knowing that you’ll always be able to earn a living.
The same can be said of breakdown cover. You don’t want to be stuck on the side of the road, possibly with a customer in the back of your car while you desperately try and find someone to rescue you. Breakdown cover is vital to get your car back moving as soon as possible. This can be done separately, but often you get great discounts by including it in your insurance premium.
You have to be honest when completing your taxi insurance claim, even if it is tempting to tweak the facts a little to get a cheaper quote. If you have an accident and there is found to be incorrect details, it could invalidate your insurance and you would be left with huge bills and no income, so play it safe.
Taxi insurance can be difficult to get right. The easiest way is to use an insurance broker who can simplify the process for you. If you’re looking to start a claim, contact Total Insurance Comparison and we’ll be happy to guide you through the process.
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