What you can do to help bring the cost of your cover down.
As a private hire driver, we understand that you’re always looking for ways to reduce your work costs. Nobody wants to spend more than they need on fuel or insurance, so it’s important to make sure you’re getting a good deal.
But it can be difficult to know where to start when it comes to finding the best price for your private hire insurance. In this post, we’ll cover 5 top tips to help you get cheaper cover for your work.
1. Shop around
The best way to make sure you’re getting the best price for your cover is to spend time getting quotes from different insurers. Your quote will vary from one insurer to the next, so you may be able to find a better price by shopping around.
At Zego, we know how time-consuming it can be to get lots of insurance quotes from different companies. That’s why we’ve worked hard to make it as easy as possible for you to see how much your Private Hire insurance would cost with Zego.
Just fill in your details below to get an estimated price for your cover in under a minute.
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If you’re interested in getting a full quote, you can then refine your quote online to get a more accurate price for your cover.
2. Consider your level of cover
The level of cover is one of the most important parts of your policy. It determines the amount of protection you get from your insurance in the event of an incident. For more information about what different levels of cover include, you can read our guide here.
But how can your level of cover help you save money on your private hire insurance? Well, Third Party Only cover will cost you less than a Fully Comprehensive policy, so choosing a lower level of cover is one way to bring down your costs.
However, it’s always important to make sure you have protection for what matters to you, so it’s never a good idea to sacrifice the level of cover you need for a cheaper price.
3. Select the right policy length
When you’re shopping around for different policies, you may find that insurers offer you policies that last for varying amounts of time. At Zego, for example, we offer you the choice of 30-day or annual Private Hire insurance, so you can get cover that lasts for as long as you need it.
If you’re planning to take a long holiday, or you want to take a break from private hire work for a couple of months, setting up a monthly subscription to Zego’s 30-day cover is a great way to save money compared to the cost of an annual policy.
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4. Watch out for admin costs
Although admin fees might not affect your upfront premium, they can end up costing quite a lot if you want to make changes to your policy. Some insurers will charge you admin costs in order to update your address or vehicle details. Some other insurers even have charges in place for sending out policy documents!
At Zego, we will never charge you any admin fees for changing details on your policy. If you ever need to make a change to your policy, just give us a call and our friendly team will be happy to help.
5. Build up your No Claims Discount
One of the best ways to bring down the cost of your insurance is to build up your No Claims Discount. No Claims Discount, or NCD for short, rewards you if you have not claimed on your insurance policies for a certain length of time by offering you a reduced price for your cover.
Unfortunately, as NCD is usually measured in years, it’s not a quick way to getting a cheaper Private Hire insurance quote. However, Zego also offers 30-day policyholders the chance to build up NCD by renewing consecutive policies. Don’t forget, you may be able to prevent increases in the cost of your insurance after an incident where you are found at fault by protecting your NCD.
If you have any questions, you can get in touch with our friendly team 7 days a week. We’ll be happy to help with your Private Hire insurance quote. You can also visit our Private Hire insurance page find out more about our cover.