Features You Must Consider in A Taxi Insurance Policy

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Features You Must Consider in A Taxi Insurance
Policy
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Taxi insurance cost-cutting can make a major
difference to the profitability of your taxi or
private hire car business. This is not easy to
avail the best insurance deals of the taxi. Taxi
cover is a special domain that requires both
detailed bits of knowledge of industry and
ability to access best taxi policies.
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There are certain types of taxi insurance policy
that offer a different level of cover. Before
going for an insurance policy, you need to get
decided your domain either want Private Hire Taxi
Insurance or public hire insurance. Private hire
insurance is best for those taxies and cabs which
need to be pre-booked.
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This is for those vehicles which you cannot be
hailed on the streets or cannot accept paying
passengers. It's only for those who make prior
arrangement. On the other hand, public hire
insurance can be hailed from the streets. These
are also known as a hackney carriage. Public hire
insurance is cheaper than a private one.
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Taxi insurance has variation which can reduce
your premium according to coverage. In the
circumstance of cab and hackney carriage
insurance the most common insurance is the
following
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Policy Only
The policy only is insurance policy which gives
coverage only who are availing the policy. It
will be a cheap policy because there will be no
extra fare insurance and public liability
insurance in this policy.
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Named Driver
This type of insurance policy is best if you are
the only owner of a single cab. It gives you
space to name drivers of a taxi in which there
can be just you or extended to other drivers.
Addition of another driver can raise the premium,
especially if they have any claim in the record.
Thats why give name carefully and wisely.
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All Taxi Driver
In this policy, any driver can drive your taxi.
the insurance company only allow for driving
above 25 years. This policy is best for those
companies which have multiple vehicles and need
multiple drivers. But its best goes for fleet
insurance if you own more than one vehicle. It
will be cost-effective and beneficial.
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Location Matters
One of fine factor while deciding insurance
policy for a taxi is where you are driving
vehicle. As central London is densely populated,
there will be insurance premium more. There are
hard to find reasonable insurance, you must avail
special taxi insurance in this case, for example,
coverture Watford.
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Security Installation
Taxi insurance can be reduced by installing
security modification. Like you can install dash
cams, CCTV and tracker. If you can prove, you
park your vehicle at the safe location it can
also lessen your premium.
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Mileage cover
Your mileage also effects at your premium. If you
add limitations of miles, it can also reduce
premium but make it sure if you have any
modification in mileage cover, inform to company
otherwise you can be claimed.
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