Getting the right private hire insurance or taxi insurance is vital – and you need to follow some fairly simple fundamental rules to ensure you get the best taxi insurance deal on the market.
Its worth noting early on that cheap taxi insurance is not the be all and end all. If you haven’t got the right level of cover, saving a few pounds up front may cost you a lot more in the long run.
Our first tip for the best taxi insurance would be to make sure that you find well established taxi insurance brokers. Specialist taxi insurance companies will not only have access to market leading rates, but will also advise you on what taxi insurance policy is best suited to your needs.
They will also go to different underwriters depending on if you need private hire insurance, public hire insurance or if you own a firm and need taxi company or taxi fleet insurance.
The top 5 factors to ask your taxi insurance broker are:
1) Cheap taxi insurance quotes
2) Taxi insurance policy benefits
3) 24/7 Accident management and claim service
4) Customer service
5) Risk management for taxi fleet insurance policies
Taking these briefly in turn:
Of course, you expect your taxi insurance broker to shop around and find you the cheapest taxi insurance policy. But be sure that you are fully covered. For example, make sure that your taxi insurance includes public liability cover (we recommend an indemnity limit of minimum £3million).
Also – make sure that you’re taxi insurance no claims bonus is protected if possible and that your voluntary excess is not sky high to keep your premium low. You’ll regret it if you have a claim!
As a taxi driver, its possible that you are on the road at any time in a 24 hour day, so you should expect your taxi insurance broker to provide a 24/7 free claims management service to you can report any claim immediately. If it is a non fault accident, you should make sure your taxi insurance policy includes a like-for-like replacement vehicle so you can continue to earn money while you’re taxi is off the road. This is an important requirement.
With regard to customer service, make sure you choose a taxi insurance broker that provides great service throughout the life of your policy. Its no use saving money if you can’t ever get an instant answer from your broker. Look out for reputations of the taxi insurance brokers you contact.
Finally – if you are a taxi fleet operator or own a taxi company – you should expect risk management advice as part of your taxi fleet insurance policy. This will help keep risks to a minimum and help secure lower fleet insurance premiums.
Follow these golden rules, and you’ll be on your way to cheaper taxi insurance without compromising your levels of cover. And the taxi insurance broker will do most of the work for you!!
insureTAXI are a specialist taxi insurance broker who provide private hire, public hire and taxi fleet insurance. With a panel of taxi insurance underwriters and specially negotiated rates, you’ll get competitive rates and superb customer service. For a taxi insurance quote online visit our website insuretaxi.com or for an instant telephone taxi insurance quote call 0800 142 2828