As taxi drivers are placed in the high risk category by insurance companies, due to the amount of miles and road time they do, taxi insurance quotes can vary massively. On average, taxi drivers complete somewhere between around 1000 miles per week. This means they are consistently in and around other motorists meaning accidents are more likely to happen with taxis.
There is a broad spectrum in taxi driving circles, which can affect taxi insurance quotes. One of the most influential factors is the driver’s age. Younger drivers, especially under 25 in the UK, are deemed as being even higher risk. Older drivers, who have more experience are generally in the lower bracket for quotes.
If the taxi driver uses their own car, rather than a pool car, the amount payable can be affected by their home post code. When the car is left for long periods of time it may be at risk of being stolen. Insurance companies use statistics from local councils and national averages to analyse the risk. This in turn affects how much a driver will pay for their annual premium.
Other factors which insurance companies do not look too favourably on are the marital status of the driver. Married drivers are said to have less accidents than single ones. The type of car, be it a difficult or have expensive replacement parts can hike up the premium as can the level of security fitted. If it has a simple alarm and no immobiliser, drivers can fit one and a tracker device to reduce the cost of the quote.
Taxi insurance quotes are affected by a whole host of categories which can affect the premium. Some drivers complete advanced or extra driving courses to prove to an insurance company they are committed to being a safe driver.
Using the internet to obtain taxi insurance quotes is not the only way to find cheaper insurance which fully covers you. Pick up the telephone and call them too, this can help if you can explain more fully your situation to reduce the total insurance cost.
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