It’s easier than you think to be seen as a “high risk” driver in the world of taxi insurance. Perhaps you own a modified or luxury vehicle, have limited driving experience or are considered a “young driver”. Perhaps you have a few speeding tickets, previous motoring convictions, or maybe a few points on your driving licence. Whatever your circumstances taxi insurance for high risk drivers can be expensive. But don’t despair, getting a reasonable rate doesn’t have to be difficult. You can still compare taxi insurance quotes online to find a policy to suit your needs.
New Taxi Driver Insurance
If you are just starting out as a taxi driver, you may find it difficult to obtain a reasonable quote. Without having comprehensive experience in the taxi industry insurers will likely categorise you as higher risk. Some insurance providers may take into account your no claims discount from your personal vehicle. You could also consider installing additional security features in your taxi with an aim to reduce your insurance premium.
Young Driver Taxi Insurance.
Drivers under the age of 25 usually fall into this bracket. Statistically, younger drivers are more likely to make a claim after being involved in a collision. One of the best options for a reduction in premium is to opt for Third Party cover only, and to drive a car with a smaller engine. This can help you to fall into a lower risk group, until you are able to build up your no claims bonus.
Convicted Driver Insurance
Due to the fact of the number of hours you spend driving each day, there is a higher chance of you being convicted of minor motoring offences, such as speeding. If this happens, you may find that your premium rises. Just as car insurance for drivers with claims can be expensive, so can taxi insurance for high risk drivers. One option you have to try to reduce you premiums is to raise the excess amount on your policy. However always ensure that it is within an attainable amount in the event of an accident. A safer alternative is to shop around and compare taxi insurance quotes online from a variety of providers rather than auto-renewing your policy.
Poor No Claims History
Another factor which can affect the cost of taxi insurance is a poor no claims history. Again, spending more time on the road at peak times means you are more likely to have an accident. This can eliminate a history of no claims and label you as a high risk driver, even if you were not at fault. If you have to claim on your insurance then make sure you don’t auto-renew your policy, as it could increase dramatically. Instead shop around and try and get a cheaper quote elsewhere. If you drive safe and avoid any further incidents you will soon build up your no claims history again, leading to cheaper premiums in the future.
Need further information on High Risk Insurance cover?
At Insure My Stuff 4 Less we have developed a diverse panel of trusted insurers offering a wide range of insurance. Although taxi insurance for high risk drivers can be more difficult to obtain, it is likely that at least one insurer will be able to provide a quote. Enter your details online to return quotes immediately and get covered today!