Private Hire Insurance Quotes
PLEASE NOTE:
WE ARE NOW LOOKING TO SECURE A PRIVATE HIRE INSURANCE QUOTES COMPANY/BROKER TO JOIN OUR VIBRANT TEAM IN EAST LONDON. SUCCESSFUL CANDIDATES WILL BE GIVEN THE EXCLUSIVE OPPORTUNITY TO ESTABLISH A CONSOLIDATED BUSINESS MODEL AND BENEFIT FROM A HUGE CUSTOMER BASE. COUPLED WITH THIS WE’RE OFFERING EXCLUSIVE OFFICE SPACE AT OUR VENUE IN BARKING.
YOU WILL BE PROVIDING BOTH IN-HOUSE AND ON-LINE PRIVATE HIRE INSURANCE QUOTES.
ALL APPLICANTS MUST BE APPROVED & REGISTERED WITH THE FSA EITHER DIRECTLY OR VIA AN AR BASIS.
FOR FURTHER INFORMATION PLEASE CONTACT VIA EMAIL ONLY: ADMIN@THEVEHICLESITE.CO.UK
Typically a years insurance will cost around £2,000-£3,000 for fully comprehensive insurance on a standard saloon car. However, as we all know there are a variety of factors which take a premium from the hundreds right though to the thousands. To top it all off remember that not all insurance companies offer the same prices so make sure you shop around to get yourself a good deal. If you can’t commit to an annual policy bear in mind that most insurance companies will offer 1,3 & 6 month policies as well as the standard 12 month policy.
Please note, with some companies who offer private hire insurance policies you will not be able to build up your no claims bonus with a short policy so always ask before it’s too late.
How can I reduce the cost of my insurance?
Buying a private hire insurance policy is just like getting insurance for your own private car so it’s safe to say treat the process similarly. Shop around, ask friends already in the trade or you could always pop into a local mini cab firm and ask the drivers or the controllers.
Levels of cover
You can choose from three levels of cover: comprehensive, third party fire and theft and third party only. Your choices for this will depend on the age and value of your vehicle. Fully Comp insurance will obviously cover everything but you will pay more. Third party insurance will only protect your customers and any other vehicle involved in an accident. You would be responsible for the costs associated to your own vehicle repair.
No claims discount
Normally, your No Claims Discount (NCD) will only apply if you have no claims from another private hire insurance policy. However, some insurance companies will accept proof of NCD from your personal car to your private hire vehicle. If you do build up your no claims bonus you’ll get a substantial discount on your private hire policy ranging from 20% up to 60%. Having a clean drivers license with no offences will also reduce costs.
Voluntary Excess
Adding voluntary excess on to your policy can save you money and reduce your private hire insurance premium. If you increase the excess and have to make a claim then any savings will be lost. Compulsory Excess will normally start at around £250, so get quotes for increasing the level and see what difference it makes to your policy.
Where can I get cheap private hire insurance quotes?
There is no definitive answer to this as it’s not a straight-forward cost which can be estimated. It all depends on many factors, so the best advice is to get as many quotes as you can. This may take a few hours longer but could end up saving you hundreds of pounds. If you find that insurance costs are too high then you may consider renting a vehicle from your operator which will normally include insurance and all other costs for about £35 a shift. This route may prove cheaper than using or buying your own vehicle and having to insure it yourself.
Replacement vehicles – a final note
If your vehicle breaks down or you are involved in an accident and your car needs to be repaired then it means you are not working and you are not earning, so it might be worth looking for an insurance policy that offers breakdown cover and replacement PCO licensed vehicles so you can still work. Costs for this will vary and so may not be an option, but when shopping for policies ask for a quote with this added and you may be surprised at how little extra it costs. While you’re at it always ask about cover for loss of earnings. If you have an accident or your vehicle is in for repair you’re losing out on an income and need to be indemnified.
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