As a taxi driver you will have many business expenses such as the cost of fuel, servicing your taxi and not forgetting paying to insure the vehicle that is a legal requirement.

Therefore, you may be interested to hear that, according to the Confused.com Car Insurance Price Index, there has been a significant rise in car insurance premiums in the third quarter of 2022 when compared with the same quarter last year.

Here in the UK, the average car insurance premium came to £586 per annum in the third quarter of 2022 whereas in the third quarter of 2021 the figure was an average of £514 per annum. That is a difference of £72 per annum. This comes to a difference of 14% in percentage terms – a large rise.

Presumably, there has possibly been an increase in the amount of taxi insurance premiums as well. So, if you also own a family car as well as a taxi then you have probably been faced with a couple of increases. In the current economic climate this is something that you could have done without. After all many people in the UK are facing increases in mortgage repayments, rental income and utility bills not to mention the cost of putting petrol or diesel in your car.

Where you live is one of many factors that affect how much an insurance company charges for insuring a motor vehicle. Unfortunately, if you happen to live in Inner London, you are likely to be paying more for your cover than anywhere else in the UK. In the third quarter of 2022, the average premium paid for car insurance in Inner London amounted to an average of £936 per annum. That figure is 16% more than it was in the same quarter of 2021.

So, if your existing taxi insurance is shortly due for renewal, why not get in contact with us to obtain a competitive quotation without any obligation. Who knows, we may be able to help save you some money that is something you will no doubt welcome.