Fleet Insurance Taxi – How To Make Money With A Taxi Business

Protect My Taxi Blog

Are you searching for Taxi Fleet Insurance for your business? You have come to the right forum; Protect My Taxi can accommodate all your taxi insurance needs. We know what it takes to satisfy our clients because we offer competent taxi insurance policies.

Saving time and money for your taxi company is possible with the help of taxi fleet insurance for business.

One renewal date, a decreased chance of operating without the appropriate level of coverage, and flexibility for your drivers are all benefits of insuring your vehicles under a single taxi fleet policy. Moreover, there are economic benefits to having a single insurer cover all of your cars.

No restrictions exist on the number of vehicles insured under a taxi fleet policy. However, if you operate fewer than five cabs, multi-vehicle insurance may occasionally be less expensive than fleet insurance.

Different Kinds of Taxi Fleet Insurance for Businesses

Because taxi fleet insurance is a specialized provision, you will need a specialized insurer who is aware of the demands of a taxi business and can create policies tailored to your needs. The following are included in most taxi fleet insurance packages, depending on your insurer.

Mixed-Use Vehicles

If your fleet includes a mix of commercial vehicles, such as conventional taxis, minibusses, vans, and limousines, or if it consists of both taxi’s private & public hire insurance.

Mixed Use

Suitable for taxis that are utilized for business and reward, as well as for “social, household, and pleasure” purposes privately.

Almost any Licensed Driver

It helps to ensure that your drivers can operate any of your cars.

For Owner Driver

This type is considered suitable for fleets that run on driver-owned vehicles.

Alternative Solutions for Self-Driving

Fleet insurance for businesses is essentially created for companies who lease out their motorcars to their drivers. 

A Bit Of Advice: Obtaining insurance for drivers with less than 2 years of experience or those with driving offenses might be challenging. Compare prices because some insurers do provide this kind of coverage.

How to Reduce the Cost of Your Taxi Fleet Insurance

In addition to the time and administrative savings from handling a single policy, there are further methods to save money on fleet taxi insurance:

  • Limit the legal driving age to 25 or older.
  • Increasing your willing excess.
  • Expense your insurance annually.
  • Put speed limits in place.
  • Ensure cabs have sufficient security measures, such as alarms and immobilizers.
  • Always shop around before renewing.
  • If a limited mileage policy is appropriate for your company, think about it.
  • Combine your fleet insurance with any necessary breakdown and commercial coverage.
  • Pick your fleet wisely. Insuring cheaper, low-emission taxis is more affordable.

What Are the Advantages of Insurance for Taxi Fleets?

Taxi fleet insurance for business comes with some advantages, such as:

  • Some insurance could offer alternatives for limited or unlimited mileage.
  • Some insurers also provide coverage for mixed-use vehicles.
  • One insurance policy includes coverage for the entire fleet of taxis.
  • Instead of managing multiple separate policies, there is only one premium and one renewal date.

Why Is It Necessary to Compare Quotes for Fleet Insurance for Businesses?

Another fantastic strategy for discovering a lower premium is to compare providers. However, insurance for taxi fleets might be challenging. Finding and then selecting the ideal coverage for your needs is difficult. Because of this, it is advised that you ask the insurance broker from Protect My Taxi for advice. They will lead you through because they are very competent.

The broker needs to have knowledge of insurance for taxi fleets. They will be fully qualified and knowledgeable to assist you in choosing the best coverage. You can also obtain assistance from our knowledgeable agent in finding coverage that falls within your price range.