What is Taxi Fleet Insurance?
If you own a taxi company, you can use fleet insurance to cover multiple vehicles under one policy. One of the main benefits of taxi fleet insurance is that it becomes significantly easier to manage insurance for your whole fleet with just one policy. Making sure you have the right insurance in place is obviously critical for a taxi firm and combining your policies into one fleet policy can help simplify the management process.
Other benefits include:
Being able to cover all vehicle types e.g. minibus, public hire & private hire
Finding cover for all ages and levels of experience
Fleet policies from as little as just two vehicles
Finding the right insurance for your fleet of taxis
We work with a leading panel of fleet insurance brokers making it quick and easy to compare a number of quotes so that you can find the right cover at the right price. Using this service is free and saves you from having to gather quotes individually. To get started all you need to do is complete the short quote form.
What will be covered in a taxi fleet insurance policy?
Using a broker gives you the benefit of having a tailored quote to suit your requirements. For example, you may wish to include breakdown cover in your policy for your vehicles as well as public liability insurance and legal expenses.
You will also need to decide what level of cover you require out of third party only, third party, fire and theft or fully comprehensive insurance. If you are unsure what level of cover you require, again, you can discuss this with the broker who is best placed to advise you.
Save money on taxi fleet cover
Firstly, loyalty rarely pays when it comes to insurance, therefore you should take the time to compare taxi insurance quotes each year when the time comes to renew your fleet policy. As well as this, the following areas should be looked at:
- Type of cover: as touched on above, the level of cover you choose and what you include will affect the price you pay, so make sure that you are only including what you need. Equally, it is a common misconception that opting for third party only insurance is always the cheapest. This is not always the case and you may find that your quotes go down if you choose fully comprehensive insurance, making you a saving on your policy as well as giving you the peace of mind of a higher level of protection.
- Choose your drivers: when it comes to employing taxi drivers, their previous claims, experience and age could all affect your fleet policy price so bear this in mind when you are advertising for new employees. Taxi insurance for new badge holders is likely to be more expensive due to a lack of experience and proven ability.
- Don’t spread the cost: if possible, avoid spreading the cost of your policy over the course of the year. Although potentially necessary for some firms and a great help with cashflow, you will pay interest on top of the policy cost when you opt for monthly payments.