August 14, 2018

Working Out your Taxi Insurance

Since the population is booming, this naturally means that more people are deciding to use taxis to get around. And this means you have to expand your operations to meet the demands of a growing population. But with expansion comes risks, and one of the most dangerous risks is the possibility of an accident on the road. This is why taxi insurance is one of the most important assets you can get for your business.

Online taxi insurance is a possibility these days which makes the whole process much more efficient. Online insurance refers to the facilities by which you can research everything you need and want to know solely online, so now there’s no need to physically visit a variety of insurance companies. This can come in form of online comparison sites or going to the websites of insurers yourself.

While it may seem tempting to simply pick out the cheapest option, you have to ask yourself whether it will cover you in a serious road traffic accident or not. The cheapest form of taxi insurance is where only the third party is covered. Now if one of your cars were in a serious accident could you afford the medical costs, the wages of your driver while they recovered from their injuries, the cost of repairing the car, or even the cost of buying a completely new car?

The answer to all of these questions is probably no. But another danger is being too cautious at the same time and purchasing cover for everything from the car, to the driver, to the fluffy dice hanging from the driver’s mirror. In order to get the best deal you should sit down and honestly work out what you can afford as a company and whether the risk of a certain scenario is great enough for you to have it covered in your insurance policy.

Remember, just because there is a risk doesn’t mean that the risk is great enough to take out taxi insurance online to cover it because costs can quickly mount up with insurance premiums. And if these premiums mount up too much then you can quickly find them making dents in your business profits.

online taxi insurance is available at Taxi Protection

Guide to Marine Insurance

When shipping goods around the world you as a business owner can’t be in control of everybody who will inevitably handle your goods before they make it to the customer’s door, but with marine insurance you can protect yourself from whatever might happen. Even though you are buying protection, , there are still things you should and should not do when buying marine insurance.

Make sure that when looking for cheap marine insurance you don’t confuse marine and boat insurance. Boat insurance is just there to provide cover for your vessel whereas marine insurance is there to protect your goods and the vehicle carrying it, whether it’s on the ocean or on land.

When applying for cheap marine insurance don’t attempt to withhold information or lie on your application form because if it’s discovered then your quest to lower your insurance costs will be dead in the water for many years to come. Remember the truth always comes out eventually.

Always read the fine print on an insurance policy. While reading the fine print is often a pain for the large majority of people, it should only take a few minutes for you to read through the fine print. You will be able to find out exactly what makes your policy null and void, what your rights are, as well as telling you exactly what you are paying for. A common mistake business owners make is that they forget that certain goods are not covered by their insurance policy.

Comparing your policies with different insurance companies is essential for getting the best deal you possibly can. But while many people only look at the price of an insurance policy on its own, this is not the best way to go about it as not paying as much as you would expect could mean that you are not getting the right amount of cover.

If one of your vehicles is in a serious accident or a cargo load of expensive goods are damaged then you could find yourself out of pocket. If it’s a choice between low insurance costs and having sufficient cover then you will want to go for the sufficient cover.

Even if looking for cheap marine insurance, ensure you buy it from a specialist provider, like

Checking out insurance for lorries

If your business employs a fleet of lorries,then you will have the annual challenge of insuring your vehicles. The complexity of insurance for lorries means that your best bet for finding the best deals probably involves going through a broker.

As with your normal car insurance, there are two basic types of insurance for lorries:

Fully comprehensive: Covers all parties involved in any accident.

Limited liability (3rd party): This only covers the other parties in an accident; i.e. you have to pay for your own repairs. This is why it is normally much cheaper. However, if your vans are on a lease, then you must have fully comprehensive insurance.

So far so easy, but there are many additional extras and depending on what you actually use your fleet for. Here’s where it becomes more difficult and your broker’s contacts and knowledge will come to the fore. Some of the more common and popular extras:

Goods in transit – as the name suggests, it is possible to get insure for the goods that are being transported as part of the quote for the insurance for the vehicles. Obviously you will probably want to have some kind of insurance for this purpose, but whether the best deal is through the vehicle insurance or not depends on many factors, too many to go into here – ask your broker.

Roadside Assistance – another feature that you are probably familiar with from domestic vehicle insurance, but for your business, it can take on a different meaning. When dealing with your own car this is probably provided for peace of mind, especially if you have young children, but in the world of business this may be the difference between a contract being renewed or not. In general, it is much cheaper to get this cover as part of the insurance deal rather than separately.

Umbrella or single lorry insurance – a bit more subtle this one. An umbrella policy will cover your entire fleet, with the total premium taking into account the state of all your vehicles. On the other hand single lorry insurance insures each vehicle individually – therefore you could get fully comprehensive cover for your newer vans then 3rd party for the older ones. Overall though, umbrella insurance will offer a cheaper premium per vehicle for the same level of cover.

Brought to you by Blue Angel – specialist insurance broker