Top ways to save money on your Private Hire Taxi Insurance costs

If you drive a taxi for a living then you naturally need to have insurance in place to legally do so. For many taxi drivers this can be a costly necessity as cheap private hire taxi insurance costs can often be quite high. If you are wanting to drive down your annual insurance quote and find ways to insure your cab for less, these tips should help.

Compare different deals

In modern times people have got used to shopping around for the best deal out there, rather than just staying with the same insurer they have always used. This is definitely worthwhile as sticking with the same insurance company blindly for years can see you paying much more than you could be. Be smart and compare the various deals on the market against each other to get the best value one for you. If you don’t have time to do this manually then use a site like ours at Total Insurance Comparison to make it quicker and simpler.

Don’t have an ‘Any Driver’ policy

One feature within an insurance policy that can really bump up costs is having an ‘Any Driver’ clause built into it. This clause sees anyone being able to drive your vehicle, rather than specifically naming you. This is not great for saving money on your insurance though as the addition of this clause will often see insurers charging you more. Instead, opt to have named drivers (ideally just you) to make it cheaper.

Try to avoid getting any endorsements on your driving licence

Another factor that can help your insurance premium drop is keeping a clean driving licence with no points or endorsements on. This is simply because it will show the insurance companies that you are a responsible driver who won’t be making lots of claims or being involved in lots of accidents.

If you need a hand with finding the best deals on your taxi insurance, then let us help. We have access to specialist taxi brokers who can give you the lowest annual premiums to help drive your profits up. Browse online or get in touch today to find out more.