What are the necessary factors of taxi insurance?

28 Mar 2018

What are the necessary factors of taxi insurance?

If you are a taxi driver looking for the best quality, lowest priced, insurance policy for your individual cab or fleet, then it may help you to take the following information into consideration.

By understanding what elements your insurer will require in order to provide a competitive quote, you will be able to realise any adjustments you can make to your taxi fleet management, in order to access the best insurance deal possible.

With the majority of Insurance providers, the overall cost is decided by use of the following factors:

 

1. The number of vehicles in your fleet

The greater number of vehicles you wish to insure under one policy, will impact on the money you are likely to save. In addition to this cost saving, you will also cut down on the amount of administration incurred using separate, individual policies.

2. The age and experience of your drivers

The majority of drivers that are aged over 25, with good driving histories and relative experience, are more probable to save you money on your fleet insurance deal. However, a reputable company such as Insure My Taxi 4 Less will always endeavour to find you the most competitive rate depending on your circumstances.

3. The model and engine size of the vehicle

In the same way as with personal car insurance, the faster your taxi will drive and the larger the engine, will increase your annual insurance premium. Another consideration, is of course the number of passengers you expect to carry during the course of your daily business.

4. Where is your taxi stored over-night?

To reduce the risk of theft and vandalism, aim to store your vehicle in a garage or under shelter when not in use. This should also reduce your insurance premiums.

5. Additional Security Features

As with private car insurance, should you take additional steps to minimize risk, by fitting tracking equipment, anti-theft gadgets, security alarms and immobilisers, you are more likely to pay less for your insurance cover, despite having an initial investment for these security features.

The goal of Insure My Taxi 4 Less is to make taxi insurance straightforward. We use the world’s first, fully functional, taxi insurance comparison website, to ensure that we return the best quotes to our customers, from trusted insurers.

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