ZingoTaxi – Frequently Asked Questions
Why don’t all companies offer taxi insurance policies?
Is there a price high enough for every insurance company to want to offer taxi policies?. Perhaps, but many companies don’t get involved because.
1) They don’t have the experience to set the price correctly.
2) Cabbies usually need to show copy badges, licences, etc. and most low cost insurers, like to keep things simple, i.e. over the telephone, low administration, low claims etc.
3) There are less motor insurers generally.
4) The longer your vehicle is on the road, the higher the chance of a motor accident – Hence some insurers like to cherry-pick those drivers who are on the road the least, i.e the retired / over 50′s.
Which vehicle is cheapest to insure?
Some insurers only cover new vehicles or vehicles under ten years old ( sometimes under 7 years old ) Many but not all will not cover old vehicles for Fire and Theft cover. hmm i wonder why.
Vehicles are usually grouped 1 to 20 , with 20 being the most expensive. However some cab insurance companies don’t look too closely at the car group but more at the number of seats. Strangely though some small Minibus’ can be cheaper to insure than MPV’s.
Here is the order of cost in order:
1) Blackcab ( lowest)
2) Normal Saloon ie Ford Mondeo
3) Nine seater Minibus ( driver plus 8)
4) MPV i.e. Ford galaxy
5) Larger Minibus
6) Bus/Coach ( most expensive)
What is the difference between Private & Public Hire?
Private Hire includes Mincabs, Chauffeurs, Wedding cars, and Executive Hire. – All are available ONLY by pre-booking, even if that was two minutes or two months before.
Public Hire includes Private Hire, but allows for instant pick-up, no pre-booking is required. Example is Hackney carriage Black cab ( like a London Taxi ).
Why have Taxi Insurance costs risen?
Because so many dishonest people are claiming and exaggerating claims that although it’s hard to believe, many insurance companies have in recent years lost huge amounts of money.
Insurers have been forced to either pull out of the market altogether or substantially increase the price we pay.
Members of the public are bombarded with TV ads from ‘no win – no fee’ claim companies that some customers can almost feel a whip-lash claim coming-on. It’s amazing that fairground rides like the dodgem’s survive bearing in mind how fragile some people are.
It’s not only the public that are to blame. In some cities the standard of driving and professional honesty is so low, that decent hard working cabbies are in effect subsidising the less honest. – In an attempt to reduce this effect, some insurers will only offer a quote if you have No Claims Bonus earned on a ‘ taxi policy’ but what about the new chap.? He ends up being forced to accept a huge premium from one of the few insurers left.
How do Insurance companies calculate the cost?
In order of Importance.
1) How much Taxi No Claims Bonus.
2) Your Post Code.
3) Your Age
4) Number of Drivers
5) What cover you require – i.e. Comprehensive
6) Driving History – i.e. Claims Convictions etc
7) Vehicle – i.e. MPV/Saloon
We can help you find specialist schemes for the following:
• Home operators, contract work and airport runs
• Executive cars, MPV and minibuses
• Individual or fleet taxi (2 vehicles or more)
• New drivers and drivers that were previously renting
These are just a few areas in which ZingoTaxi specialise. Our industry knowledge allows us to help you find the perfect policy covering each of your individual needs.
ZingoTaxi will not treat you like another number and will help you find the policy that is right for you and your individual needs. We do our best to understand you and your business and the result is a policy that covers everything you need it to without costing the world. The team here at ZingoTaxi have a wealth of experience within the taxi insurance industry and we utilise that expertise when helping you uncover your perfect taxi insurance policy.
For links to useful taxi related resources, please click here