Factors That Affect Cheap Taxi Insurance
Do you need cheap insurance for your taxi? If so
, then you'll need to know which factors make a particular policy 'cheap'. Several factors can impact the cost of insurance premiums for taxi drivers, and here are some of them:
1. Driving Experience.
Driving experience is one of the biggest factors that will influence your chance of finding cheap insurance for taxi drivers. First, there's the experience that you have driving any type of vehicle. Statistics show that the more driving experience you have, the less likely you'll be to have accidents.
However, insurers will also factor in how much experience you have driving company cars. That can include driving taxis, working as a chauffeur, and so on. So it's highly advisable that you get some experience under your belt, before applying for a taxi insurance policy. This could help you to save a small fortune.
2. Age.
Being a certain age doesn't always dictate whether you're a responsible driver. That said, statistics show that drivers over 30 years old tend to be in fewer accidents than those in their teens and 20s. Unfortunately, it's not possible to speed up your ageing. But you might want to consider starting a career as a taxi driver after you've reached an age that will significantly reduce your premium.
3. Marital Status.
Some insurers will provide lower premiums on cheap taxi insurance, if you're married. Statistics show that married people tend to be safer drivers than single drivers. That's because married people tend to live not only for themselves, but also for their spouse (and children).
4. Home Ownership.
If you own a home, then you also might be eligible for a discount on taxi insurance. That's because you likely have the responsibility of making regular monthly payments. Of course, this isn't to say that owning a home makes you responsible per se, but you'll be more likely to drive safely.
5. Number of Quotes.
As when shopping for anything else, choosing taxi insurance is a numbers game. If you only get a few quotes, you'll have a slight chance of finding cheap insurance. But if you get several quotes, then your chance of doing that will significantly improve. Make sure to get at least three quotes, but get more if you can. Search online and offline, as you can find fantastic deals on taxi insurance, from both types of companies. While searching online is easier, you shouldn't limit your search to the Net.
6. Driving Record.
Another factor that can influence your ability to secure cheap taxi insurance, is your driving record. A single point on your driving record can significantly increase your insurance premiums,and especially if you're insured to drive a company car. So if you have a less-than-perfect driving record, consider cleaning it up before applying for taxi insurance. Otherwise, you could spend an arm and a leg taking out a policy.
To find cheap taxi insurance, put yourself in the shoes of the insurer. By knowing how they calculate premiums, you'll have a better chance of getting one at a rock-bottom price.
by: Tom Jones
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