Driving a minicab comes with a whole host of financial responsibilities, and insurance will be at the top of the list. But, that doesn’t mean you want to spend a fortune in the process. Luckily a lot of insurers will be able to offer some form of discount or another, and here’s a quick run-through of the most common discounts you should be on the lookout for:
- No claims bonus. Insurance policies of all kinds will often be able to offer some form of no claims discount and minicab policies are no exception. Build up a few years without any claims and you could look forward to some great savings, and you might even be able to transfer your bonus from a private car policy for savings from the start.
- Introductory/new policy discount. Many insurance firms will be able to offer discounts for new policy holders, particularly if they’ve got a good driving record behind them.
- Discount for fleet experience. Experienced drivers are deemed to be better drivers, and if you’ve got plenty of experience in the taxi trade you could look forward to some great savings accordingly.
- Discount for paying by direct debit and/or arranging things online. An option that a lot of people overlook, but surprisingly a lot of firms will be able to offer discounts if you arrange your policy online and/or if you pay by direct debit for the added convenience and reduced admin time.
- Discount for increasing your voluntary excess. A quick and simple way to make some great savings on your policy, if you increase your voluntary excess you could dramatically reduce your premiums as your insurance firm will have to pay out less in the event of a claim.
These are just a few of the most common minicab insurance discounts you should be on the lookout for, but it doesn’t have to stop there—always do your research to see what you can uncover and if you want to make even better savings, just ask. If you don’t ask you don’t get, so make sure to see what you can find and you could soon enjoy a great level of cover with more cash in your pocket.