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When you drive a taxi for a living, you already have a ton of issues to deal with starting with unruly passengers. With regards to passengers, you become explicitly responsible for their safety so you can’t afford to cut corners when taking out a taxi insurance policy. This specialized type of insurance protects your taxi against theft, and damages sustained to it, you and others depending on the level of cover you opt for. Taxi insurance costs significantly higher than traditional vehicle cover in light that it is a business and is treated as such.
This significant difference in prices may not seem fair, but there are several reasons to justify the costs. For one, you are more likely to drive more miles than an average driver owing to the nature of the job, which increases the risk of accidents. With a wealth of experience in providing taxi insurance cover, we understand that your profession is your livelihood. This is one of the reasons we are able to provide you with a quote that’s not only comforting, but also contoured towards your needs.
You may be wondering if you can enjoy low taxi insurance premiums if you travel less miles or work part time and drive occasionally. The short answer is No! Reason being that even though you may drive less, whenever you do it is mostly in congested environments so you are more vulnerable to accidents. To add to this, taxis are typically bigger in size compared to regular vehicles to accommodate more passengers and travel longer distances.
Each car make and model in the UK is assigned to one of 50 different insurance groups and the higher the number, the more you can expect to pay in car insurance premiums. So for example, if you’re using a Honda Accord as a taxi, you will be pay comparatively higher in taxi insurance as it is grouped under the performance car category. This is why when selecting your vehicle, it’s worth choosing one which falls into a low insurance group.
According to the CIE (Continuous Insurance Enforcement Regulations) introduced in 2011, all vehicles on UK roads must be insured with the appropriate level of cover. These rules were implemented in an effort to address a significant rise in motorists driving without insurance as they are breaking the law in doing so. If you’re taking a short break from your taxi profession, you can always store your vehicle without any insurance cover by simply applying for a SORN (Statuary Off Road Notification) certificate. We are specialists in taxi insurance from single vehicles to an entire fleet so get a quote instantly to see how much you’d be saving with us.
Choosing the Right Taxi Insurance Cover
Just like any other type of insurance cover, there are several levels, features and types of taxi cover and each will vary from different insurers. Assuming that your taxi is deemed private, there are three main types of insurance to choose from – “Policy Only”, “Named Driver” and “Any Driver Over Set Age”. As you may have guessed, “Policy Only” is the cheapest form of taxi insurance you can get, and generally the more people named on your policy, the higher the cost of insurance premiums. When you buy a named driver taxi insurance policy, you are buying it for yourself and not anyone else. Any driver policy is the most expensive type of insurance of insurance cover you can get, which permits any motorist to drive your taxi as long as they are legally entitled to drive in the UK.
How to get Cheap Taxi Insurance?
If you’re looking for affordable taxi insurance cover, you’ve arrived at the right page. We can generate an affordable quote for you instantly so that you can start earning today. As mentioned before, cars in the UK are assigned to 1 of 50 insurance groups, and the higher the group number, the more the insurance premiums. Although you must consider the group of the vehicle before choosing it as your taxi, you must also take into account fuel consumption stats of the vehicle given the nature of your job. The key is to make your decision based on all these factors when choosing a taxi.
This goes without saying, but worth mentioning that as a taxi driver you must be extremely responsive and responsible when driving. In addition, you must try to maintain a spotless driving record, and build up your no claims discount over the years.
We can try to lower your insurance premiums by 20%-30% if you’ve been claims free so get a quote now to redeem your savings.