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5 Common Taxi Insurance Mistakes

5 Common Taxi Insurance Mistakes

At High Gear we like to think of ourselves as taxi insurance saviours, helping the drivers of the UK locate great policies that directly reflect their professional needs. Boasting the best sales team as well as an incredible database of providers means we make shopping for cab cover a pleasure, helping customers create policies that are beneficial to them. Too often do we see taxi drivers making silly choices when it comes to their incorporations; common mistakes that could cost them a great deal of time and money in the event of a claim.

Choosing a taxi

We are constantly seeing new taxi drivers opt for unsuitable vehicles to operate, cars that do not encourage competitive rates for cover. With large engines and high price tag being more of a gamble in the eyes of the insurer it is important that as a taxi driver you think carefully before making a purchase. At High Gear we can even provide guide rated prior to you buying you taxi, allowing you to gauge how much the car will cost to cover prior to purchasing it.

Level of cover

Where many feel that opting for a lower standard cover type will save money in the event of a claim it will do quite the opposite, with Third Party Only and Third Party, Fire and Theft Taxi Insurance not covering you for at-fault claims. With bumps and collisions inescapable when working on the road constantly it is really worth covering yourself for all eventualities, with effective insurance being integral to the success of a taxi driver.

Telematics Taxi Insurance

Many drivers possess a negative attitude towards telematics insurance, believing it to be an intrusion of their privacy. However, for taxi drivers black box insurance can be a godsend, allowing cabbies to prove their driving ability to their insurers. This can be very helpful in the event of an accident also, having a record of the cab’s movements, breaking and speed.

Not protecting no claims

Having a no claims record can save taxi drivers up to 40% on their cover plans, serving as a golden ticket to cheap taxi cover. This is why protecting no claims is a very popular insurance extra of late, with many recognising the benefits of the small outlay.

Deciding on a courtesy car

Some taxi drivers do not see the benefits of incorporating a courtesy taxi into their insurance agreement, being this upsell to not really help them in their business. Choosing to feature a courtesy car in your policy is actually an incredibly sensible business choice, allowing taxi drivers to continue working when their taxi is off the road. If you are interested in setting up a taxi insurance policy then call us today and speak with one of our expert brokers.

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