• June 3, 2015

Cheaper Taxi Insurance Rates with These Five Tips

Cheaper Taxi Insurance Rates with These Five Tips

It’s always nice when you find a way to save some a little money, and there are many opportunities regarding insurance costs. Aside from the vehicle itself, insurance on your taxi is likely your largest bill. While a cost-efficient insurance policy may have avoided you so far, the tips that follow can help you take some off the top of your taxi insurance.

Type of Vehicle

When cheaper insurance is on your mind, you need to consider the type of vehicle you’re wanting to insure. You may not know it, but there are numerous separate groups that your vehicle could fall into, which means you need to look into these and select the right type of taxi. Of course, when looking at these different types of vehicles, you have to also think about fuel efficiency, passenger capacity, overall cost and more. Comparing all the specifics with the types of vehicles that are cheaper to insure is a great place to start.

Adding Drivers On Policy

There are situations of course in which people want to add people on their taxi vehicle insurance policy, but when you get insurance for yourself only, it’s a lot cheaper. In fact, you can see as much as a 50 percent increase in the price of your policy when you start adding more drivers. What you don’t know, is that when the companies check each driver out, the quote ends up being determined according to whichever person has the higher rate for insurance. After naming just yourself on the policy, you can in turn save much money using Multiquotetaxiinsurance.

Safe Driving Bonus

When you show yourself as a careful driver, you are rewarded by saving additional money. This is another reason why you only want one driver on the policy, yourself. All drivers are welcome to start building towards the reward in order to save money when it’s time to renew their policy. Or, if you’re coming from another insurance provider, you can transfer this type of reward discount from having already proven yourself as a save driver with a different company. After you have developed a track record as a safe driver, you also get the extra added benefit of not having to worry about your discount if you file a claim. These safe driver bonuses are good for private and public taxis alike. If a person has experience with a taxi fleet or is securing a private policy, then MQTI would mean that the person’s introductory policy would already have this discount attached.

Higher Deductible

When opting for a higher deductible attached to your policy, you get a little discount on your policy. Keep your deductible above the standard, as you’re a safe driver anyway! Get the discount for just simply opting to have a higher deductible on your policy. Remember of course that if a claim were to be filed, you would be responsible for the deductible. Some people don’t like opting for the higher deductible, but you end up saving money on your insurance premium for each renewal, and you don’t lose that safe driving bonus over a claim!

Safe & Secure Vehicle

You can save money on your insurance policy by keeping your car safe and secure. This means the type of vehicle, too, as there are those with better security ratings. You also want to keep all the valuable items in the taxi hidden, as the insurance company considers this a much safer way to do business. You also want to properly store the vehicle when you’re not driving it, which means preferably off the road and under the roof of a garage. Sometimes in order to get a good rate for taxi vehicles that are high priced, a tracking device must be used.

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