Taxi Driver Online

IMPORTANT MESSAGE TO ALL SOUTH YORKSHIRE, DERBYSHIRE AND NOTTINGHAMSHIRE TAXI DRIVERS

Taxi divers need to be made aware that a lot has happened over the past year within motor insurance, and in particular taxi insurance, which has lead to uncertainty and change within the taxi insance sector. Insurance premiums have started to increase and must increase further, so taxi drivers need to make provision for the impending increases. The main reasons for this happening include:

(a) insurers have reduced their premiums to a suicidal level (to gain market share) during recent years
(b) increased competition (new entrants, not having the experience in insuring taxis, getting it wrong!!)
(c) the dramatic increase in claims costs
(d) recent and ongoing poor investment returns
(e) insurers running out of cash reserves
(f) FSA solvency requirements and regulation
(g) effects of the banking crisis
(h) & the recession

The above has resulted in a number of companies putting their taxi accounts into "run off" (not offering renewal terms). These include:
Brit
Chaucer
Groupama
HSBC
Jubilee
Link
MMA
Premier
Quinn
Zenith
Not good reading and I'm sure there may be a number of additional withdrawals over the coming months......watch this space.

However, there is some good news out of all of this doom and gloom for taxi drivers

Penk Insurance are still in a strong position to help South Yorks, Derbys & Notts taxi drivers having access to a number of taxi insurance schemes some of which are granted on a limited agency basis.

Our current list of taxi insurance providers include Summit, Liverpool Victoria (LV), QBE, Expresscovers (KGM), Orbit (Aviva), TFP (Aviva) & Sabre.

PLUS, we are pleased to welcome on board Markerstudy Insurance from the 1st July 2010 who have given us EXCLUSIVE access to their taxi insurance rates in South Yorkshire, Nottinghamshire & Derbyshire

PLUS: We issue annual certificates at point of sale on our Summit, LV, Markerstudy and Sabre schemes (thus only one visit to the council!!)

PLUS : We are local to Sheffield. We are only a short drive away!

PLUS : We are an established taxi broker and have always looked after our clients interests first and foremost.

PLUS: We are hear for the long run

AND FINALLY - "TAXI ASSIST": Our highly acclaimed accident management provider, Kindertons, provide our clients with a 1st class claims handling service including (in many instances)
(a) the provision of a replacement plated vehicle (on proven none fault accidents) or assistance with loss of earnings where appropriate,
(b) excess waiver (or recovery of excess),
(c) provision for repair costs (network of credit repairers used)and
(d) recovery of other out of pocket expenses etc.
(e) plus handling the whole claim from start to finish
For more information, visit www.kindertons.co.uk

All we ask is that you take special care when arranging your taxi insurance.

The recent article in the Sheffield Star headlined "Police probe wrong insurance shock for 50 taxis (in Sheffield)" does not make pleasant reading........SO BEWARE

We are here 6 days a week to help taxi drivers with their taxi insurance needs and we welcome their quotation enquiries.

David Penk (Director)
Penk Insurance Services Ltd
49-53 Chatsworth Rd, Chesterfield, S40 2AL
Tel 01246558844
Fax 01246557379
email dp@penkinsurance.com

_________________
Leading taxi insurancd broker serving the Derbyshire, Yorkshire & Nottinghamshire area.
YOUR 1ST CHOICE FOR TAXI INSURANCE
HONESTY - INTEGRITY - SERVICE
www.penktaxi.co.uk
49-53 Chatsworth Rd Chesterfield Tel 01246558844

I would just like to point out that Groupama have not, in fact, put their taxi account into "run off" and are still providing quotes for both new business and renewals.

If you would like a public hire or private hire taxi quote from Groupama, please contact ChoiceQuote Insurance Services at either our Liverpool, Manchester or Glasgow offices.


ChoiceQuote Insurance Services
GDH House, Green Lane
Liverpool, Merseyside
L13 7EB
0800 440 2177
http://www.choicequote.co.uk/taxi/taxi-insurance-uk.asp

_________________
ChoiceQuote Specialist Insurance
http://www.choicequote.co.uk

Does your company still cover phv that pick up without being pre-booked like Norwich union(aviva) do.

I know all things go up in price, but that should be no more than the rate of inflation.

If PH and Taxi insurance is so seriously under priced at present that it has to rocket up in price to play catch up...well, how come these insurance companies and brokers have not gone bust long before now due to their selling us a seriously discounted product at almost charitable rates?

No..the truth is that these Insurers are already making mega bucks out of Taxis and PH but are just getting greedier and greedier as time goes by.

The same go's for domestic user car insurance, they crank up the rates needlessly over inflation simply because they can, these insurers might have different names but most are owned by a couple of the major players so they know full well they have a cartel on the prices they charge.

Who ever seen a hard up Insurance company..these guys make Billions out of us already.

We can provide cover for private hire vehicles that pick up without being pre-booked providing they are also licensed for public hire.

_________________
ChoiceQuote Specialist Insurance
http://www.choicequote.co.uk

Methinks thats a rather clueless reply!!!! Dont that make it a Taxi?

I think the same, can not get straight answer from insurance companies on this one.Me thinks they will take your money what ever, but it is a different story if you make a claim

I think he is alluding to taxis that do radio work outside of the district.

_________________
IDFIMH

Apologies to Choicequote and their customers...........It would appear that we have been misinformed regarding Groupama going into "run off" for taxis.........good news for taxi drivers..........please continue to get your Groupama quotes from Choicequote............all we wanted to do was to make taxi drivers aware of the contracting taxi insurance market and prepare for impending rate rises

_________________
Leading taxi insurancd broker serving the Derbyshire, Yorkshire & Nottinghamshire area.
YOUR 1ST CHOICE FOR TAXI INSURANCE
HONESTY - INTEGRITY - SERVICE
www.penktaxi.co.uk
49-53 Chatsworth Rd Chesterfield Tel 01246558844

Have you read the list of taxi insurers who have stopped doing taxi insurance!! This is not scare mongering, only hard facts. Prepare for rate increases and some more casualties!!! Billions indeed!!!!!!!!

_________________
Leading taxi insurancd broker serving the Derbyshire, Yorkshire & Nottinghamshire area.
YOUR 1ST CHOICE FOR TAXI INSURANCE
HONESTY - INTEGRITY - SERVICE
www.penktaxi.co.uk
49-53 Chatsworth Rd Chesterfield Tel 01246558844

They aint selling them at a loss thats for sure....and I was referring to all forms of motor insurance under the £billions part.

Lets say 20 million UK cars at an average of £300 insurance each...Thats around £6 billion. Even allowing for Claims and Wages there is a Big fat Chunky profit to be made...and thats just the Private car market.

Then if you have a Bump they up it as well...or if you get caught speeding there is an Increase premium too...

They always win...

Stopped dealing with Penk after they pulled out of taxitalk.

CC

_________________
Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

I refer you to the following article for the hard facts.........
http://www.broking.co.uk/insurance-age/ ... s-deloitte

_________________
Leading taxi insurancd broker serving the Derbyshire, Yorkshire & Nottinghamshire area.
YOUR 1ST CHOICE FOR TAXI INSURANCE
HONESTY - INTEGRITY - SERVICE
www.penktaxi.co.uk
49-53 Chatsworth Rd Chesterfield Tel 01246558844

thats only them trying to convince everyone that an 11% increase in policy prices when only a 5% increase is needed is a good thing....

Listen.....Big business is no Charity, that article covers all Motor Insurance and to be honest I would bet good money that TAXI and PH Have vastly fewer claims or accidents than your domestic motorist does, not that they are better drivers but because they drive more carefully simply because they need their vehicle on the road making money as compared to being in a body shop.

Our Vehicles do not cost more to repair than an average vehicle...seems to me that we pay 3 or 4 times domestic insurance prices to help pay for the Liability aspect of the policies we need.

Me thinks he means a licensed PHV that is acting as a HC (as per the 1847 Act), but not a licensed HC.

_________________
Kind regards,

Brummie Cabbie.

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