As you would expect, there are strict legal rules in place regarding minicab insurance. Anyone who charges a fare for driving passengers needs to have an insurance policy to cover them, be it a one man band or a whole fleet of cars. The exact type of cover you need can be complex, and this article will look at how to go about getting the right cover for the best price. In addition, you might also want to consider public liability cover, which isn't a legal requirement for minicab drivers, but would cover the cost of defending claims made against you, for example in a road traffic accident.
How should I find the right cover?
There are lots of things to consider. How many cars and drivers need cover? How old are those drivers. Have they had any previous accidents? Have you made any claims in recent years? Should you go for 'third party' or fully comprehensive cover? Do you want extras like public liability or breakdown cover? How do you want to pay? Annually, by direct debit, weekly, monthly? There are a lot of variables, so it's advisable to work out what's important to you and your business. It will definitely help to talk to an insurance specialist - there are loads out there to help you find the best insurance for your business, and at the best price.
How can costs be kept down?
Minicab insurance is a specialist product, so it's advisable to talk to someone who is experienced in this type of insurance. They should be able to find you just what you need at a price that's right as they'll have access to deals you won't find elsewhere.
It will also help you to build up your no claims. Some products work on a pay as you go basis and allow you to build up no claims benefits in as little as 6 months.
Lastly, consider a forward facing camera. This will film any incidences when something bumps or if you break hard, meaning that any dispute can be settled quickly and straightforwardly. This will help keep premiums down, and insurance specialists have access to many policies that offer discounts if you have one fitted, some even fit them for you!
Minicab insurance is essential for your business, but it's complicated and can be costly if you don't get the best deal for your particular needs. Talking to a specialist and experienced minicab insurance company is the ideal way to access the right arrangement for you, at a price that works.
How should I find the right cover?
There are lots of things to consider. How many cars and drivers need cover? How old are those drivers. Have they had any previous accidents? Have you made any claims in recent years? Should you go for 'third party' or fully comprehensive cover? Do you want extras like public liability or breakdown cover? How do you want to pay? Annually, by direct debit, weekly, monthly? There are a lot of variables, so it's advisable to work out what's important to you and your business. It will definitely help to talk to an insurance specialist - there are loads out there to help you find the best insurance for your business, and at the best price.
How can costs be kept down?
Minicab insurance is a specialist product, so it's advisable to talk to someone who is experienced in this type of insurance. They should be able to find you just what you need at a price that's right as they'll have access to deals you won't find elsewhere.
It will also help you to build up your no claims. Some products work on a pay as you go basis and allow you to build up no claims benefits in as little as 6 months.
Lastly, consider a forward facing camera. This will film any incidences when something bumps or if you break hard, meaning that any dispute can be settled quickly and straightforwardly. This will help keep premiums down, and insurance specialists have access to many policies that offer discounts if you have one fitted, some even fit them for you!
Minicab insurance is essential for your business, but it's complicated and can be costly if you don't get the best deal for your particular needs. Talking to a specialist and experienced minicab insurance company is the ideal way to access the right arrangement for you, at a price that works.
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