It should be realised that the brokers do not all work in partnership with the same insurance companies. Therefore using more than one broker will provide more quotes for you to compare.

It is wise to tell them you are getting as quotes from other brokers as they may offer to beat any other like for like quote you receive.

The brokers will need to know the nature of the taxi business; whether you have a taxi or private hire business will be a key factor in the type of insurance you will require.

They will also need to know how many vehicles and their types are to be insured. The brokers will be able to find competitive insurance quotes for taxis, private hire, MPVs, black cabs, minibuses or stretch limousines.

Whatever your business needs they will be more than willing to help and provide a number of quotes from a variety of taxi insurance companies.

Although you may be looking for cheap taxi insurance, cheap does not always mean the most appropriate. Having the wrong insurance can be very costly if you should have the need to make a claim.

Worst case scenario may be that you actually end up with no payment at all. In order to meet legal requirements there are different insurances for different types of vehicles and businesses.

Brokers who specialise in taxi insurance will know which type of insurance is required for your taxi services.

If you are a little dubious about using online brokers look for those which are regulated by the Financial Services Authority. The FSA regulates and set the standards for companies who offer financial services, including insurance companies, in the way they advertise their products and how they deal with any complaints made against them.

When making your comparisons, look at the key policy information – not just the price. This information will provide an overview of what is included and whats not.

If you are not sure of what things mean ask questions. Remember the brokers are there to help you. They want you to be a satisfied customer in the hope that you will renew your taxi insurance with them year after year. Looking after you and providing a good service is in their best interests!

It is advisable not to wait until you receive your insurance reminder before looking for the best deals. Even if you are happy with your current company who offer Cheap Taxi Insurance it is always worth letting them know that you are looking for other competitive quotes.

They will more than likely offer to beat any like for like quotes you receive, as they undoubtedly what your loyalty to remain with them! Buying your insurance online will also be rewarded with additional discounts.

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Many insurers will cover two or more taxis under their fleet insurance, but the actual number of taxis needed to qualify varies between insurance companies. As such smaller taxis firms will need to check out insurers legibility criteria to see whether they can apply.

Most insurers are flexible with the variations of taxi, minicab, MPV, minibuses or private hire vehicles which can be included on their fleet insurance policies.

Owning several taxis will mean that you have many different drivers. Insurance costs can be reduced if you opt to have named drivers – some insurance companies will also cover spouses to use the vehicle for social purposes at no extra cost. If you have a number of young and inexperienced taxis drivers it may be more cost effective to insure your fleet for all drivers rather than named.

Women drivers are considered to be a lower risk than men by some insurance companies, so it is worth informing them if you have any women driving vehicles for you. The insurance companies will be happy to discuss and advise you as to which will be your best options.

All insurance companies reward careful drivers with a no-claims history. New drivers without a no-claims history are typically welcomed by the insurance companies; many offer introductory low rates for new drivers and business ventures. Check out the online offers to see what is available.

Taxis operating in high risk areas may be able to significantly reduce their insurance premiums if the taxi is kept in a garage when not in use.

Local councils across the UK are helping to protect taxis drivers from assault and damage to their vehicles by installing CCTV type cameras. Although at present the insurance companies are not offering specific discounts for having cameras fitted inside taxis and private hire vehicles should you be unfortunate to be a victim the camera footage may well help with insurance claims.

Although it is nice to have all of the extra perks that many insurance companies offer, those who own older taxis should give consideration as to the pros and cons. Added extras mean high premiums. Ask yourself if you really need the added extras and if they are going to benefit you in any way before deciding which insurer to go with.

Higher excess levels can help reduce the cost of taxi insurance, however bear in mind if you are involved in an accident and make a claim the more you will have to pay.

Most insurance companies realise that paying for insurance of any type can be quite a large outlay. Many offer payment options for a small additional charge.

With the number of different options available getting the right taxi insurance is a relatively painless process. It is worth remembering that it is a criminal offence not to have taxi insurance which meets at least the minimum requirements, typically this is Third Party Only insurance.

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For taxi companies who own multiple vehicles a taxi fleet insurance can offer huge savings in actual money and administration time. The number of vehicles required to constitute a fleet varies considerably between insurance companies.

Even if you only have two or three taxis it is worth shopping around online to see if a fleet insurance is available. The great advantage with most taxi fleet insurance is that all different types of vehicles can be insured.

For example a mixed fleet comprising of taxis, mini cabs or mini buses can all be included on the same policy. It is also possible to have your own private car included in some instances which includes cover for a spouse with no additional costs.

Contact an insurance company who specialise in taxi fleet insurance to see whether this money saving option is available to you.

Having a fleet of taxis will mean that you have a number of different people driving the vehicles. There are various taxi insurance options available. Insuring the fleet for any drivers is usually the most expensive options.

However, this does mean that the drivers are not restricted to only being able to drive one vehicle. Any driver cover means that drivers are able to alternate between vehicles should one be in for repair or a specific size vehicle is requested by customers.

By having named drivers on the policy will provide you with lower insurance premiums. Each driver will need to inform you of any driving convictions or penalty points they have on the license.

If an individual person is seen as a high risk by the insurance company it may be more cost effective to have an individual policy for that specific person than include them on the fleet taxi insurance policy. This also applies if you have a young and inexperienced driver on your fleet.

Women drivers are generally seen as a lower risk than men! As unfair as this may seem many insurance companies will look favourably on women drivers and offer lower premiums. So it is well worth reminding the insurance company if you have women driving your taxis.

Informing the insurance company of all drivers no claims history can also help reduce insurance premiums. Insurance companies reward drivers with no claims by offering discounts of up to a massive 60%.

Proof of no claims will be required before these sorts of savings can be offered. The number of no claims will also be taken into consideration by the insurance company.

Many will be looking for a minimum four years no claims before they offer the large discounts.

Experienced drivers can also reduce the amount of the premiums. taxi insurance companies will usually calculate their proof of experience by the number of years the driver has held their local authority taxi license.

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