Getting cheap insurance for private hire taxis
Suitable insurance is absolutely essential for private hire taxi drivers as without it the business could end up in serious trouble. There are several different actions that you can take to try and get cheap insurance for private hire taxis.
Third party only
Just like any other UK motorist a taxi driver is only legally required to have third party liability cover, anything additional is optional. This cover only applies to injury or damages sustained by the other person. However, drivers can upgrade this cover slightly to include fire and theft too, making it much more feasible for a private hire cabbie. Comprehensive taxi insurance is the best level of cover you can get but, it is not a realistic option if you are looking for cheap insurance for private hire cabs.
When searching for cheap insurance for private hire taxis your best tool is your voice. Annual insurance premiums are not set in stone, and with so many different companies trying to get your business, insurers are more than willing to negotiate. Simply challenge the providers to offer you a better rate or you will take your business elsewhere, in the worst case scenario they can only say no.
One of the best ways to reduce your insurance quote is to keep a clean driving licence. Having no convictions or points against you persuades the insurer that you are a reliable taxi driver and unlikely to make a claim. If you have a long history of car accidents the insurance company will see you as a much greater risk and therefore charge you more.
As well as having a clean driving and taxi licence, you could help get cheap insurance for private hire taxis by having no criminal record of your own.
As a private hire taxi driver you have probably done more driving tests than most people but taking a pass plus or defensive driving certificate will help reduce your premiums again.
By keeping your vehicle in good condition, with regular servicing and maintenance, it will be less likely to be involved in accidents as the driver will have better control, giving you a better chance of obtaining cheap insurance for your private hire taxi.