Insurance to keep you protected

Commercial vehicles such as taxis may continually be transporting passengers, day in, day out. With increased activity, comes the increased risk of incident (both from accidents and natural occurrence). Such incidents have the potential to be very costly, vehicles are inherently expensive and any injury to humans very costly if involving medical costs etc. In the unfortunate event that one is involved in an incident, there is also the potential loss of business earnings to consider and disruption if a party is unable to work. For the best protection for yourself and your business from these potential losses, many taxi operators search for cheap taxi insurance products. Specific Taxi insurance is more expensive than standard car insurance (because of the risks mentioned above), but there are operational factors that could help reduce the cost. Some of the factors that could help you obtain cheap taxi insurance are;

Your Type of business - Running backwards and forwards conducting airport taxing will increase insurance costs more than say, being a chauffeur would. A street taxi carries more inherent risk than a private hire taxi, so in turn the street taxi will cost more to insure.

Your Location - The town or city that you operate your business in affects the cost of your insurance. Being in London for example will cost you more than being in Exeter.

Your Experience - The longer that your business has been operating, the cheaper the insurance.

Fewer accidents - The smaller the numbers of accidents that you've been involved in, (even if the fault was not your own), the cheaper the insurance.

Condition of your cab - A newer car will cost less insurance, compared to a well used one.

There are two forms of taxi insurance; private hire insurance and public hire insurance. Drivers of minicabs and minibuses that are hired to transport passengers, require private hire insurance. These are vehicles that are booked privately in advance and cannot be hailed directly on the road. These vehicles make up for nearly 65% of the total taxi insurance market. Private hire insurance covers you, your car and your customers against any risk or accidents, whether your fault or not. The different types of cover available for private hire insurance are;

• Comprehensive
• Third Party, Fire and Theft
• Third Party Only

Other add-on products do exist, examples of which include; public liability, legal cover and breakdown insurance.

For insurance companies there can be somewhat of a grey area when it comes to distinguishing a van from a car. Typically a car is classed as a van if it had been classified as such at the point of sale. So, before seeking insurance quotes it’s imperative that you ascertain if it is indeed a van or car that needs insuring. Cheap van insurance can be obtained by considering these factors;

• The class of insurance group your van belongs to
• A cleaner driving record
• Minimum modifications to your van
• Increasing the security of your van
• Having lower claims and building up your no-claims bonus
• Increasing your voluntary excess contribution

At Try Compare, we provide quotes for policies offering a wide range of options for; cheap taxi insurance, cheap van insurance and private hire insurance. We can help you find the cover which is right for you and get you insured quickly for your peace of mind. Get Your FREE Quote Today: www.trycompare.co.uk.