Unfortunately, too many motorists don’t bother to review how much they are paying to insure their motor vehicles and this will probably include a number of taxi drivers and owners of private hire vehicles. Every year, the insurer will issue a renewal notice saying how much it is going to cost to insure a vehicle for the next 12 months and, at the same time, inform the policyholder how much they have been paying for the last year.

This is an ideal opportunity to see if you can get your cover cheaper with another provider. It is worth noting that MoneySuperMarket.com recently published its car insurance price index for Q2 of 2021. This index revealed that the average cost of fully comprehensive car insurance increased by just 7 pence in Q2 of 2021 when compared with Q1 of 2021. Such cover averaged £417 per annum. This is an average reduction of more than £60 per annum when compared with Q2 of 2020.

It would be great news for taxi drivers if a similar pattern were seen when it comes to the cost of taxi insurance.

So, having received your taxi insurance renewal notice, what should you do? Well, it doesn’t really take long to check to see if you can get the cover cheaper elsewhere. There are various ways of doing this such as getting in touch with your independent insurance broker who should be able to see if they can get cheaper cover with another provider or you can go online and use one of the many price comparison websites to see if you can obtain cheaper taxi insurance with another insurance company.

You could also get in touch with us and we will do all that we can to help you obtain a competitive taxi insurance quotation without any obligation to proceed. Any saving that can be made in the current economic climate has got to be welcomed. We look forward to hearing from you at your earliest convenience.