Taxi drivers can make a lot of money if they put in the hours and clock up the miles, but if you’re keen to drive a little less there are still ways you can hold on to more of your hard earn money.
Taxi insurance, for instance, tends to be much more expensive than regular car insurance, and is usually one of the biggest recurring expenses for taxi drivers.
Let’s take a look at how you can save money on your taxi insurance.
Change Your Car
One of the biggest factors that your taxi insurance company might be considering when giving you a quote is the type of car you’re driving. High-end taxis are inevitably going to cost more to insure, particularly if they have a larger engine and therefore fall into a higher insurance group.
One way to reduce the cost of your taxi insurance, then, is to trend in your high-end motor for a more economical vehicle in a lower insurance group.
Compare Quotes Online
If you want to save money on your taxi insurance, you should make sure that you are comparing quotes online before making any kind of decision.
Your existing provider’s renewal quote is almost certain to be much higher than you’d find elsewhere, so every time your insurance is due for renewal head over to a comparison site like quotezone.co.uk to compare quotes from a range of alternative taxi insurance providers.
Consider the Type of Insurance
When you are choosing your taxi insurance, you will have the option to choose between public hire insurance and private hire insurance. When it comes down to price, you will find that private hire insurance is typically less expensive than public hire insurance. While the final decision can often come down the type of taxi that you drive, you should definitely consider this when trying to save money on your insurance.
Be A Conscientious Driver
Finally, you should make sure that you are obeying the rules of the road when you are out and about to save money. This is because you are more likely to come across issues when you spend a lot of time driving and so you need to be careful to avoid accidents. You should also avoid speeding as this can lead to fines and points on your record. With this kind of issue, you will find that your insurance price will increase. Try to be a better driver and this could help you to save money.
If you are a taxi driver who is hoping to save some money, you should make sure that you are following our advice. Make sure to compare prices of insurance policies before committing and consider the kind of car that you are driving. If you can do this, it should help you to find a better price and save some money.