Are you a private mini cab driver, or do you operate a hackney carriage? Either way, if you are a taxi driver whose business is keeping people moving, you need to consider taxi insurance UK.
Taxi cover is different from your standard private motor policy, as this does not cover you for business activities. If you intend to rely on a regular private policy for your business activities, you run the risk of your insurer not paying up in the event of an accident. Where would your business be then?
Having appropriate cover in place will allow you to continue your business with the peace of mind of knowing that your assets are safe, so that you can concentrate on doing what you do best – driving people safely and for good value.
So how can you drive down the cost of taxi insurance UK?
• If you more than one taxi in your fleet, cover them under the same policy as you will be able to secure a substantial discount. As a reward for giving them the business of all of your vehicles, insurers should offer you a good price.
• A higher excess usually means a lower price.
• You will be well aware of the importance of employing safe drivers in your profession. But not only will this practice benefit your customers, it will also benefit your bottom line. Better, safer drivers are cheaper to insure. Rather than a general policy, name your drivers and give details of their driving experience and history.
• The best reward for having a safe claim record is a no claims discount. Sometimes called a no claims bonus, this is a reduction that insurers make in your premium as a mark of recognition that you are a safe person to insure. It does not usually matter that your history is with another company – your certificate can be used as proof of your history.
Other things to consider are the other elements of cover that the insurer can offer. Do you operate out of an office where you take bookings for taxi hire? Taxi insurance UK firms sometimes offer this as part of a package, alongside public and employers’ liability appropriate, where appropriate.
Finally, no matter how well maintained your vehicles, motorists always run the risk of breakdown. Ask whether your insurer offers a deal on this, or even will include it in your taxi cover.