Taxi insurance premiums rising – but you can buck the trend

February 4, 2010

There is no doubt that the average taxi insurance premium across the UK has seen a rise in the last six months. When insure TAXI check the taxi insurance market on a daily basis, its rare that the initial taxi insurance quotes we receive back are lower than the previous year.

Why is this?

There are two main reasons for this:

1) There has been an increase in the number of claims, meaning underwriters have increased their premiums.

The recession is a contributory factor in this trend as fraudulent claims rise

2) The number of taxi insurance underwriters has declined (as a few underwriters have left the taxi insurance market) so the competition for new business and renewals is not as intense as previous recent years

There is good news, however, if you are, or become, a customer of insureTAXI.

We have an excellent track record with our insurers so we can often ask them to reduce the “on-screen” premiums are advisors initially get and obtain further discounts.

insureTAXI are a specialist taxi insurance brokers and we know the best way to get the cheapest taxi insurance by transferring over no claims bonus from other car policies, or changing the excess or using taxi insurance fleet policies. These are just three examples.

Try insureTAXI to obtain a taxi insurance quote online or alternatively call our taxi insurance broker team on 0800 142 2828 for a cheap taxi insurance quote