Why do I need private hire fleet insurance?
If you’re operating a private hire firm, you’ll need to make sure that you’re properly insured. This is because private hire firms face a number of unique risks that aren’t faced by other businesses. For example, your drivers may not have the same level of experience as traditional taxi drivers. This means that they’re more likely to be involved in an accident.
Specialised private hire fleet insurance is designed to cover the unique risks faced by private hire firms. This means that you’ll be properly protected in the event of an accident or incident.
How can you keep premiums down?
There are a few things you can do to keep your premiums down. For example, you could:
- Install telematics units in your vehicles. This will help you to track your drivers and monitor their driving habits.
- Make sure that your drivers are properly trained. This will help to reduce the risk of accidents.
- Introduce a no-claims bonus system for your drivers. This will encourage them to drive safely and avoid accidents.
You could also consider raising your excess. This is the amount of money you’ll have to pay if you make a claim on your policy. By increasing your excess, you’ll be able to lower your premiums. However, you should make sure that you can afford to pay the excess if you do have to make a claim.