When it comes to finding the right taxi insurance for you it’s important to understand the different levels of cover in order to know which one to go for. Finding your taxi insurance is easy, but fail to miss an important element of your cover and you could find things going very wrong for your business.
Cheap Taxi Insurance
Finding a great deal when it comes to taxi insurance can be a great way to save money for your business. However, just because one deal is cheaper than another does not mean that it’s suitable for you.
It’s important to understand whether you’re truly getting your money’s worth from an insurance policy. For example, it may be worth paying that little extra every month to get an insurance company that will be waiting 24/7 for your call and be ready to assist you as quickly as possible. Getting a cheaper insurance premium and waiting on the side of the road for hours to be picked up could end up costing you more money in the long run.
There can be situations where you only need to be covered for a short period of time, in which case temporary cover could be the answer for you. Many insurance policies will offer this in addition to their standard insurance policies.
Standard Taxi Insurance Cover
Standard taxi insurance policies should cover a number of elements, and the main types of cover are:
- Third Party, Fire and Theft,
- Third Party Only.
These work in the same way as traditional car insurance policies, either offering you protection against damage that other people may do to your vehicle, or also protecting it against theft and accidents.
When looking for comprehensive cover you should also consider the fact that you may benefit from public liability insurance, which may be offered as an added extra. Most comprehensive taxi insurance policies will also cover:
- Breakdown cover,
- Personal accidents,
- Damage to vehicle,
- Loss of vehicle,
- Public liability insurance,
- And additional benefits that may cover legal expenses.
How Much Does Taxi Insurance Cover Cost?
The cost of your taxi insurance policy depends upon the kind of taxi business you run, as well as the kind of cover you are looking for. However, you may be able to find discounts if you have a fleet of vehicles, or if you have not made any insurance claims in a set number of years. These perks vary from insurer to insurer.
When taking out a taxi insurance policy you should always bear in mind that there may be excess payments required when making a claim. If you do have excess to pay, you may find that the insurance cost is lowered.
When it comes to choosing the right cover for you, make sure that the insurance company has a strong track record and good support in place when it comes to making any claims.
For taxi insurance quote comparison, including several levels of cover, try www.taxiprotection.co.uk today.