Black cab insurance is something that every black cab driver is required to have by law.
It’s no secret that black cab insurance can be costly so it’s always a good idea to take any steps you can to keep costs down.
With this in mind, below are some of the best ways you can save money on black cab insurance.
Get quotes from a lot of different providers
Getting quotes from different insurance providers is one of the best ways to save money on black cab insurance. It’s very easy to get quotes online now so the days of having to call insurance providers one-by-one on the phone are thankfully over.
Pay for your policy annually
A way to save money that people often overlook is to pay for their insurance annually. Although it’s true that you’ll have to make a larger down payment, the upside is you’ll pay significantly less over the course of the year compared to if you were paying monthly.
Any steps you can take to improve the security of your cab should also help to keep the cost of your premium down. Things like installing in-cab CCTV will help to make your cab safer, as will parking it securely. Having a locked garage to keep your cab in will significantly reduce the cost of your cover since the risk of theft and vandalism is significantly lower.
Driving safely is something that’s essential if you want to keep the cost of your insurance to a minimum. When you make a claim then your insurance rates will go up; this is also true if you get points on your licence for speeding or other types of motoring offences. Making sure that you always stick to the speed limit and don’t make any dangerous moves while on the road will help you to avoid getting into unnecessary situations where you’d have to make a claim on your policy.
Get breakdown cover added to your policy
It might seem counter-intuitive that adding cover options to your policy could help you save money but this could easily be the case where breakdown cover is concerned. If you already currently get your breakdown cover from a third party provider then you should find out much it would be to add it to your policy and compare the difference. You might find that you could save a significant amount.