If you drive a taxi, you may think you have enough issues to contend with already ranging from unruly passengers to endless traffic jams. But one further grip you need to know is the fact that you have to pay more for your taxi insurance than you would pay for a conventional motor insurance policy. However, getting insurance cover within an affordable budget is one of the most critical things.
Since you are living in a metropolitan city like London and looking for Cheap Taxi Insurance London, so here are a few steps you can take to reduce the cost of cover . Choose A Vehicle in One of The Lower Insurance Groups: While picking your car, choose the one falling in the lower insurance group. Price difference may seem unfair, but there are reasons for this. Generally, there are 50 insurance groups – the cars in the highest groups attracting the most expensive insurance premiums. Cars are placed into the group based on factors such as the value of the vehicle, the cost of spare parts, repairs, as well as safety features. As a result, those in the lowest groups cost the least to cover while the ones in the highest group tend to be high-performance models. Of course, while you choose a car to work as a taxi driver, you just can’t base your decision on the insurance group alone. You should also pay attention to fuel consumption figures based on the nature of your job. Before you make a decision about which car you have to buy, you need to take into consideration all the factors mentioned below; Drive Safely to Avoid Convictions: You must abide by the rules of the road as a taxi driver because drivers having claims can have a big impact on premiums. Sometimes, some insurers will refuse to offer you cover even if you’ve only got committed a minor criminal offence which has no bearing on your driving just because one with a criminal conviction is statistically more likely to be involved in an accident. The simple advice is to stay within the law to avoid this happening. This requires you to follow some of the most basic rules such as; sticking to the speed limit, having installed safety devices in your vehicle as any points on your license will bump up the cost of your premium. Build Up A Clean Record: The sure-fire way to cut your premium price down is by driving safely and responsibly, thereby building up a no-claim bonus over several years. Many insurance companies offer significant discounts to drivers for staying calm-free. Ones who stay claim-free for a year get a reduction of 20% to 30%, while those made no claims for 5 consecutive years get discounts of up to 75%.
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