Make sure that the purpose is defined
Before you apply for private hire insurance, you need to be clear about the usage of the vehicle. This is a sticky point if the car is being used for private purposes as well as business purposes. In some states the stickers are so discreet that it is possible to do the private school run or the odd shopping trip without worrying about being flagged down for a ride. That does not mean that the insurance provider will be tolerant of dual usage. Make sure that this issue is clarified right at the beginning.
Check whether they provide individual cover
There has to be a certain level of coverage for drivers that are not part of a fleet. In fact you might be in for a discount on the premium which you pay for the private hire insurance policy because the assumption is made that you are unlikely to have many drivers that are using the vehicle. That reduces the risks for the insurer and they are likely to reflect this confidence in the price which they are going to charge you at the end of the day.
Fleet coverage for two or more vehicles is available
In order to qualify for the fleet coverage under the terms of the private hire insurance, it is a requirement that you have two or more vehicles. Some entrepreneurs are open to the suggestion of working as a team in order to keep the costs low. It helps if you define the drivers that are going to handle each vehicle so that the insurance company can attach the relevant risk factor. On the other hand you may get a generic assessment for the entire business in order to take advantage of the discounts on offer at the time.
Ascertain the costs for new drivers
There are new drivers who will be part of the group. They are not entitled to the full level of discounts but you can work out a fair deal with the provider. It is important that you consider all the factors which contribute to the costing system for the package that you are looking at. That will enable you to make coherent decisions which are in line with your expectations and the business plan that you have for you private hire business.
Consider NCD schemes from private driving
There are some discounts for drivers with a good record. The private hire insurance policy is meant to represent the level of risk that is associated with the driver. Previous claims are not definitive but they are an indicator of the likely behavior that the driver will display if they are on the policy. If you have a no claims discount scheme whilst driving privately then you should suggest this as part of your current policy. They might not do an exact swap but they will take into consideration any evidence that shows your good driving record. It might save you some money on the premiums which you might have paid.
0 comments:
Post a Comment