What Are the Important Things That Every Minicab Insurance Should Have?
Minicab Insurance, Minicab Insurance London
Being a minicab driver and working with a private hire firm is great. But before you start your career as a driver the most important thing is taxi insurance. Having a good insurance policy saves you from a lot of risks and would provide protection in every scenario. One thing that you need to understand is the lowest priced insurance might not get you what you are looking for. Where a cheap policy looks very attractive at the same time it fails to provide the best of everything. Therefore, before you start comparing insurance quotes you need to look for certain things. In this article, some of the essential elements of an insurance policy are discussed.
Dedicated Taxi Insurance Provider:
When you are looking for an insurance company you would find a lot of insurance providers. Most of these companies would be a general insurance provider dealing with multiple types of insurances. But for your Minicab Insurance, you need a specialist taxi insurance company, not a general insurance firm. They will not only offer you better services but would also be very cooperative when you make a claim. Moreover, they have a variety of products relevant to the taxi business. This also includes courtesy cars or replacement cars for you when your car broke down or is unfit to drive.
No Mileage Restriction:
Being a taxi driver, you can never estimate how many miles you are going to cover in a year. Therefore, what you need is an unlimited mileage policy. So, you never worry about putting more miles on your car. A mileage restriction policy is very bad for any kind of taxi business as when you have completed the given miles you might have to pay some excessive cost. This would also have a great effect on the policy premium, and you would end paying more.
Legal Expense Cover:
Being on the road all the time you are always at risk of getting in an accident. Therefore, if the worst ever happens your Minicab Insurance should cover the legal expense. If the taxi insurance policy doesn’t include enough legal expense coverage, then you would have to bear a huge financial loss. You might even end bankrupt paying the bills of the lawyers. That’s why you need to make sure that your policy provides full legal expense cover for every situation.
The best insurance company would give discounted offers in a variety of ways. You might get a discounted offer being a new taxi driver or company. However, one thing is very important for you to do is to accrue discounts for having a no claim bonus. An experienced driver should claim these discounts. If you are a new driver then make sure that whatever quote you get it to consider claim free driving with a private vehicle. So, getting a discount should be your priority and would also make your insurance a bit cheap.
There are numerous addictions covers and insurances provided by most of the insurance companies. It might be beneficial for you to consider as these offer extra help if your insurer offers these. Public liability insurance and third-party coverage are one of those extra covers that any minicab driver should consider. Fleet insurance is one thing that might not be beneficial for an individual driver but if you own a fleet then insuring all the cars with one policy is the best option.
This was a comprehensive list of certain important rules of getting an insurance policy. But they are not everything you should look for there are a lot of extras that could give a good return for the investment. I understand that it could take up a chunk of time to find the best insurance policy. Therefore, I would recommend you visit Cubit Insurance to find the best possible taxi insurance policies out there.