December 14, 2017

Taxis Insurance


Be careful when you take out a taxi insurance policy to make sure of what your excess is going to be and your protected no claim bonus. There are many companies out there that hurriedly sell you taxis insurance policies, without giving you a full explanation of how the benefits of protected ‘no claim’ works for you.

A protected no claim bonus in reality is just giving you insurance for your standard no claim bonus, and it is not transferable when it comes to renewal time for your cover. However, should your policy be a cheaper one than you have had up until now, do note that low cover has plenty of policy restriction attached. Query what the cover provides for you. For example, cover for your radio, or glass cover and further, the provision for a courtesy vehicle, should this be necessary.

Tips for reducing costs for taxi insurance

If you had no claims on a previous taxi insurance policy you could have a more substantial saving on your new policy, than someone who had claimed on theirs and either wanted to change insurers or just renew their policy.

Another saving is, if you restrict the number of drivers that you have for the taxi. Numerous taxi insurance policies will offer you a large discount if the taxi is restricted to having only one driver. The insurers take into account the driving experience of the driver as well. In short, the longer the driving experience, the cheaper the premium will be, and how long the drivers have had their local authority taxi badge for, further adds to the amount of discount offered.

Something else to remember when taking out taxis insurance is to take out a policy covering public liability. It is always far wiser to be safe and have cover, than when a problem arises, and too late you realise that you do need public liability insurance.

Furthermore, if you have a fleet of taxis, this too will enable you negotiating for good discounts and bonuses, and in this scenario, you will have to have employer’s insurance as well. This is legally compulsory.

Taxiprotection is a leading uk provider of taxis insurance

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