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If there’s one area of their business where taxi companies are loathe to take shortcuts it’s taxi insurance.

And quite rightly too. For the taxi business has in recent years become not only more tightly regulated, but increasingly more competitive. The net result has been the raising of standards across the spectrum of taxi operations, from owner-driver to taxi fleet operators.

One aspect that has not gone untouched in this culture-shift is taxi insurance. Here, too, the bar has been raised, forcing taxi insurance companies to keep pace with taxi industry change and become more responsive to customer needs whether they operate one taxi or hundreds.

And with the taxi insurance market itself becoming a far more heavily-populated environment, the resulting competition brought about has added sharper focus in insurance company board rooms. The welcome end result of the twin shake-ups experienced by taxi insurance customers and providers has been greater availability of competitively-priced high quality taxi insurance.

All in all, circumstances have generally proved to be a win-win situation for everyone concerned. On the one hand, root and branch reform of the taxi and taxi insurance industries, and, on the other, greater efficiency and competitiveness which has, in most people’s view, lead to better value taxi insurance.

Without a doubt, though, the world of public, private hire and taxi insurance is now a much healthier and competitive place than it was just ten years ago. Taxi insurance is today almost tailor-made to the individual needs of clients regardless of whether they are owner-drivers or fleet operators. Types of vehicles for which insurance will be extended is also far wider -  from black Hackney cabs to people carriers, MPVs and minibuses.

And it’s now easier than before to arrange optional extras such as:

Some of the best taxi insurance deals have come about due to the extra pressure on the taxi insurance market from the web. Consequently, it is to the internet that many are now turning when hunting down the best taxi insurance deal around.

The savings on overheads made possible by a web presence are passed on to customers. Typically, this will amount to around 10 per cent on identical taxi insurance coverage sourced offline. And that’s just for starters.

Almost without exception, a company that trades online will be supported by a customer service team that can be telephoned should queries arise. How a call is handled and the help received is just one of the things that separates the best taxi insurance companies from the rest.

 

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