These days, it’s quite easy to be labelled a “high risk” in the world of motor and taxi insurance. You may have been categorised as this risk because of the high insurance group of your expensive, fast car, or you may have a previous conviction for dangerous driving. Other circumstances can arise - from having a few speeding tickets, being a less-experienced driver, or maybe a few points on your driving licence. Whichever it may be, a lot of insurers will not like some of these circumstances, and will penalise you for them, when it comes to obtaining insurance cover for your vehicle.
Don’t despair, getting a reasonable rate doesn’t have to be difficult. You can still find a high risk insurance policy that will offer you the necessary cover when you need it, at a reasonable price.
New Taxi Driver Insurance
If you are just starting out as a taxi driver, you may find it difficult to obtain a reasonable quote for cover, without having comprehensive experience in the taxi industry. Some insurance providers may take into account your no claims discount from your personal vehicle. Consider installing additional security features in your taxi with an aim to reduce your insurance premium.
Young Driver Taxi Insurance.
It is normally any young driver under the age of 25, who will be classed in this high risk bracket and who will experience extortionate rates for insurance cover. Statistically, younger drivers are more likely to make a claim after being involved in a collision. One of the best options for a reduction in premium, is to opt for Third Party cover only, and to drive a smaller engine car, putting you into a lower risk group, until you are able to build up your no claims bonus.
Convicted Driver Insurance
Due to the fact of the number of hours you spend driving each day, there is a higher chance of you being convicted of minor motoring offences, such as speeding. If this happens, most insurance companies will penalise you for this and raise your insurance premium. One option you have, to try to reduce you premiums, is to raise the excess amount on your policy, although always ensure that it is within an attainable amount in the event of an accident. An alternative is to consider reducing your annual mileage figure with the aim of reducing your insurance premium quotation.
Need further information on High Risk Insurance cover?
If you are searching for high risk insurance cover for a new driver, or with a few points on your driving licence, you need a taxi insurance specialist who know all aspects of the industry. At Insure My Taxi 4 Less we have a wealth of experience in helping taxi drivers obtain the best, competitive rates possible.