Finding Taxi Insurance for the Novice Driver


You will be aware that you need adequate taxi insurance as a new driver. Although there are many options on the market, they will charge more for new drivers. Your search will be complicated because you are considered a high-risk driver by many providers, who may not offer the lowest cost options. These negative aspects must be overcome and you need to start over to ensure you get the best deal available.

1. Information: The insurer will need to verify your driving experience before providing taxi insurance. You might have limited driving experience, but you’ve never owned a commercial vehicle. This information should be shared with the broker to help them reduce the premiums you pay. Although there is no similar scheme, they will offer discounts based upon the information you provide to them.

2. Assess the locality. Taxi insurance may cover theft and premises. It is therefore important to limit applications to safe areas with low crime rates. This will lower the cost of your taxi insurance premium. Another way to reduce your taxi insurance premium is to use one of the introductory rates. Your loyalty will be important to the provider. They will do everything in their power to offer you discounts and bonuses as often as possible, as long as they meet the current assessment criteria.

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3. How to deal with insurance excess: If you have a high excess, you can lower the premium on your taxi insurance policy. This is the amount you’ll need to pay for any claim you make. The excess can decrease the premium by as much as 5%. You should only accept an excess amount that is within your means. It is not a good idea to accept a figure you will never pay.

4. Major claims: Applicants are tempted to conceal their claims due to the potential consequences of losing their NCD status. It is usually resolved before the matter reaches the insurer’s attention. It is pointless because you are paying the entire claims cost, but you still have to continue paying for insurance. Consider the annual amount you are paying in money. You should inform the provider if the claim is greater than that amount. You might be able to ignore the taxi insurance policy and do the repairs yourself if the claim exceeds that amount.

5. Don’t buy products you don’t need. The taxi insurance company’s sales representatives will try to convince you to increase your provision beyond the minimum. You must resist the temptation. These extra services are not always free. These extra services can increase your premium significantly, but there is no guarantee that you will receive all the benefits you desire. You should limit the number of additional features you accept on your taxi insurance policy. They have little to do about your driving experience.

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