Tips for keeping your Taxi Insurance quotes down

Here at Quotesearcher we know that times are tough and everyone is trying to save a bit of money. Therefore we have put together a few tips to help you keep your taxi insurance quotes down! So when sorting your taxi insurance why not consider the following:

Your age: The easiest way to keep your insurance quotes low is simply get older! The younger you are as a driver the higher your insurance premium will be. Although you can’t actually be a taxi licence holder until the age of 21 and you must have had a full driving licence for over at least a 12 month period. Taxi Insurance is generally more expensive for anyone up to the age of 25, so the next time you feel you are getting old at least it means you can save a few quid!

Location: If you live in an expensive area such as Mayfair (lucky you), your insurance will automatically be lower due to the low level of crime.  However, if you are living in Brixton (unlucky), your insurance premiums will be extremely high compared to Mayfair.  This is because insurance companies will recognise this area as a crime hot spot.  Is the possible saving worth moving house? Maybe not, but it is something to keep in mind the next time you do move.

Driving record: Keep it clean! If you have several points and convictions on your licence, either taxi or ordinary, you are likely to pay a higher price for exactly the same insurance as someone who has never had any points or convictions.  For the simple reason, insurance companies will see you as a dangerous driver!

Size of your taxi: We’re not necessarily talking about engine size, it can also depend on how many seats you have in your vehicle.  If you drive a larger car with 7 seats (a proper taxi) no doubt you will be able to carry more passengers.  But insurance companies will see it in a negative way, as in the event of an accident there is likely to be more damage caused to both car and passengers.  Your insurance company will therefore need to payout more money than a crash involving a puny 5-seater vehicle. They will always play the odds!

Mileage: If you are using your vehicle on a day to day basis, taking passengers to different ends of towns and cities, there is a higher risk of having an accident, as opposed to someone who just drives at the weekend. So simply stop driving and you will save money! A high use of any vehicle leaves a higher probability or having an accident.

Type of cover: For comprehensive taxi insurance you will be paying more than fire & theft or 3rd party insurance. If you go for 3rd party and have an accident, you are only covered for the damage of the opposing vehicle. Fire and theft covers the same as 3rd party but also in the event of a fire or having your car stolen.  Where as comprehensive is all of the above and also in the event of an accident your vehicle will be covered as well as the opposing vehicle. So choose wisely, be sure you are only getting what you need!

So there you have it! Just follow these simple tips and you are sure to find a lower quote for your taxi insurance.

The Choice of Taxi Insurance

Choosing the right taxi insurance quote can sometimes be a tough decision.  There are also numerous things your will need to consider when searching for a quote; you will need to ensure you are covered for all possibilities.

Firstly you should make sure that the policy you choose have a good reputation.  They should have good experience, enabling you to get the best possible price, cover and also advice.

Taxi

Most people tend to use specialist taxi insurance brokers, as they are usually the ones to give you the best quote possible.  You should be trying to find a quote which offers extras for example: breakdown cover, or a replacement car in the event of a crash, you can be back on the roads as quickly as possible.

Your insurance must cover your passengers not just yourself.  This is for the unfortunate event of a crash injuring your passengers; you will not want to be liable for any legal claim they could make if anything should happen on the journey.  If you can find a quote that has legal expense covered too, as this will mean you are well prepared for any claims against yourself.

As with anything, you will need to read the small print so you can understand exactly what is covered and what is not within your policy.  Your taxi insurance is highly likely to be more expensive than regular car insurance, as you are using your car as a business and carrying passengers around, but this does not mean you can not search for a better or cheaper deal.

If you have completed all of the above, you can be safe in the knowledge that you are covered fully, for any outcome that you may face whilst working.

Image credit: http://www.flickr.com/photos/33762104@N00/4790358418/

No Taxi sign – means no Taxi.

Black Cabs in London are usually very expensive to get from one place to another – especially for a single passenger and this means some people will try to steer clear of them when possible to save money.

Although they appear to be quite expensive, you are probably less likely to be in danger when in a licensed black cab – all black cabs are licensed with the driver required to pass a criminal records check.

Sadly, the very people who are likely to chance travelling in an unlicensed cab  – passengers travelling alone, who may not be able to afford a full fare – are the most at risk.

When riding in a London taxi, next time request a receipt and you should notice a note at the bottom.

In bold capital red letters, it says “WARNING” and below this it also says in black lettering;

Every year in London there are 100’s of rapes and sexual assaults, plus 1000’s of robberies committed by unlicensed minicab drivers.

Don’t be a victim; only use a traditional licensed taxi.

REMEMBER NO TAXI SIGN MEANS IT’S NOT A TAXI.

This also leads on to the fact that if you are involved in a collision whilst riding in an unlicensed taxi and are injured, you will struggle to obtain compensation, as they are unlikely to be covered with the correct taxi insurance.

Both Black Cabs and private hire minicabs are subject to strict licensing.

Taxi’s of Tomorrow

Have you been tempted to invest in a new taxi recently? It might not be a bad time to consider upgrading, as new alternatives to the traditional cab are now being mooted.  The Taxi and Limousine Commissions (TLC) have just recently revealed their idea of brand new an electronic taxi called the UniCab.

These electric powered taxis will be more energy efficient, plus, with oil being a fossil fuel and running out rapidly, it could turn out to be a very smart idea.  If you are a taxi driver and are out on the road all day driving your customers around, you’ll probably have opportunities to stop in between journeys, and re-charge just like you would at any petrol station.

The new UniCab has enough room for up to seven passengers, including space for their luggage, plus a ramp and space for wheelchair users.  It also has LED screens on the outside of the taxi, to show how many people are riding and where it is going.

This really is the taxi of the future; it also meets the highest safety standards.  Whilst releasing lower emissions and giving an improved fuel economy, these will reduce the taxi’s environmental footprint.  This does genuinely seem an all round better way to travel; not just more comfortable for your journey but potentially better for the economy & environment too.

If they are a success, they will likely take over the standard taxis, especially if the government was to regulate against older fossil fuel based taxis, a situation not entirely unrealistic, should viable alternatives exist.

We imagine these new models, along with most other hi tech vehicles, to be somewhat expensive in the near future, so you’d best be prepared to shop around if you want affordable taxi insurance on these types of vehicles!

Contents and personal possessions insurance for students.

For many students the idea of moving away from the family home and finally cutting the apron strings and standing on your own two feet to study is an exciting prospect. But with this comes a new form of responsibility.

Ensuring that your personal belongings are adequately insured may not be the first thing that springs to mind when embarking on such an adventure – but it is an important thing to consider.

Students insurance is a type of insurance policy that protects your belongings whilst studying away from the family home, either on or off campus. Don’t be fooled to think that whilst living in student halls the University will have a policy to cover your stuff – it won’t – You’ll need to do this yourself!

Insuring your belongings will protect you against theft and accidental damage to your property whilst in student accommodation and will even provide cover if you’re away from the residence in between terms.

–  Make sure you know what is covered
–  Ensure you have the right policy that covers

i) All your electronic games and or gaming equipment
ii) Jewellery
iii) Personal Documents
iv) Money
v) Laptops / PC
vi) Mobile phones

Students living in student accommodation are prime targets for thieves. Thieves know that the majority of goods owned by students are often portable and transportable – ideal for thieves SWAG bags.

Society’s younger generation are nowadays bejewelled with a host of valuable equipment,  such as laptops,  mobile phones,  MP3.

Most policies will also cover you for theft of cash from your premises – Policies will have a maximum cash value you can claim for.

Policies cover loss of personal documents – Passports and drivers licences can be costly to replace if stolen, most policies will cover the cost of replacing these items.

Students can find an insurance policy that will cover them from all the above with QuoteSearcher simply by visiting the following page.

 

UK’s Low Income Families Lack Adequate Home Insurance Protection

For many of us, it is difficult to believe that in this day and age there are families within the UK that are struggling to afford even the most basic insurance protection for their homes. As the UK also continues to feel the effect of the current economic climate, more and more low income families in the UK are finding it increasingly difficult to pay for their home insurance.

The Home Office released alarming statistics with figures showing 56% of the UK’s poorest families do not have home insurance. Furthermore, these low income households actually face a higher risk of being burgled than the national average – statistics indicate they have a 71% chance of being burgled.

Whilst the insurance industry recognizes the need to provide further support to these families, the high risk of burglary in these areas forces underwriters to increase the cost of premiums for people living in many of these communities.

The Home Secretary, Jacqui Smith, held a top level summit meeting on March 10, 2009 with the leading insurance industry leaders to discuss how to combat the take up of home insurance amongst Britain’s poorest families.

Initial suggestions include making improvements to home security in order to reduce premiums and thereby open up insurance access to these individuals.

At Quotesearcher we would echo these sentiments as improving home security is an excellent way of reducing your home insurance premium.

If you’re interested in improving the security of your home, consider the following:

  • Ensure that your home is properly secured when you leave it. This sounds obvious, but take the time to ensure that all windows are closed and doors are locked. Many burglars are opportunists, so if your home looks secure they may be deterred.
  • Take reasonable precautions to secure your home. For example, if your property can be accessed from the rear or side via a gate invest in a sturdy padlock so you’re not making it easy for potential burglars to access your home.
  • Invest in secure locks for your home, and have a qualified locksmith install them.Key security considerations should include: Deadlocks to doors, secure locks to windows and secure window shutters.

Here at Quotesearcher we’re also committed to providing our customers with the very best deals on home insurance. First and foremost, we’d always recommend that people shop around to make sure that they get the best deal for them. So rather than simply renewing your home insurance with your current provider why not view the latest deals from our partners and get a competitive home insurance quote today.

You’ve nothing to lose, and you could save money – something which is front of mind for all of us right now!

Sources:

Insurance Times, 26/3/09