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UK cab trade debate and advice
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 Post subject: Re: Insurance Premiums
PostPosted: Fri Aug 01, 2014 9:38 am 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
sasha wrote:
BestfordandCompany wrote:
I have nothing to compare nor would I know what kind of rates are the normal in London.

Why don't you just offer your cheapest possible quote then ?
Seems like you want to know the average for each area so you can base your price on that - which probably won't be the cheapest you could do. :evil:

'We could quote £1,000 but the normal rates for that area are £2,000 so we'll quote £1,900'

Strange how when you tell a broker you've had a better offer they always manage to match it or go slightly cheaper, even when its with the same underwriter !



We do offer the cheapest quotes, it was a simple question out of curiosity. We are a broker we do not set the rates. The proposal form has the rates set by the insurer and I would like to think the client would notice if a premium states £1000 but were asked for £1900. That is just madness as you want to capture new business not scare them off.


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Aug 01, 2014 9:40 am 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
skippy41 wrote:
Paid £477 this year public hire fully comp Scottish borders saber


We do use Sabre but not on a large scale. They offer a big discount for how long you own the car but when doing a change a vehicle, we find they apply high additional premiums. Never seen a premium that low :)


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Aug 01, 2014 9:41 am 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
thelodger wrote:
From Middlesbrough, my policy is due Aug 1st, no idea what it will be; but we will be shopping around. 2 of us share 1 cab, my co driver is 70 years old, which is sometimes a problem, we have 9 years NC bonus.


Unfortunately Chaucer who we use only go up to 69 years old. It's a shame as we have a few 70-71 year olds and we struggle to get quotes at renewal. We use Sabre for these clients.


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Aug 01, 2014 9:43 am 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
wannabeeahack wrote:
BestfordandCompany wrote:
Just recently one of the insurers' we use have let us expand a bit more to further south such as Darlington which is exciting for us and if this is a success maybe more areas will become available.

Mike


You be careful that far south lad


We will. Thank's for your concerns


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Aug 01, 2014 9:45 am 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
Chris the Fish wrote:
wannabeeahack wrote:
BestfordandCompany wrote:
Just recently one of the insurers' we use have let us expand a bit more to further south such as Darlington which is exciting for us and if this is a success maybe more areas will become available.

Mike


You be careful that far south lad

Be a while until you reach Plymouth then?


Nothing in the pipeline but hopefully in the future :)


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Aug 01, 2014 6:54 pm 
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Joined: Tue Sep 21, 2010 7:35 pm
Posts: 1811
BestfordandCompany wrote:
We are a broker we do not set the rates.
No but you do add your commision on top. And when informed a rival broker can give a better price you lower your commision to match or better it, which means you didn't offer your cheapest price in the first place.


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Aug 22, 2014 1:36 pm 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
sasha wrote:
BestfordandCompany wrote:
We are a broker we do not set the rates.
No but you do add your commision on top. And when informed a rival broker can give a better price you lower your commision to match or better it, which means you didn't offer your cheapest price in the first place.


Our commission is set to 10% on all of our taxi products. If someone gives a better price we go back to the insurer to see if they can match the price. The commission is still set to 10%.


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Aug 22, 2014 5:05 pm 
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Joined: Tue Apr 03, 2007 11:27 pm
Posts: 17783
BestfordandCompany wrote:

Our commission is set to 10% on all of our taxi products. If someone gives a better price we go back to the insurer to see if they can match the price. The commission is still set to 10%.

is that 10% that you add on to the premium set by the insurance company or is that 10% what the insurance company pays you out of our premium?

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 Post subject: Re: Insurance Premiums
PostPosted: Wed Aug 27, 2014 4:57 pm 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
grandad wrote:
BestfordandCompany wrote:

Our commission is set to 10% on all of our taxi products. If someone gives a better price we go back to the insurer to see if they can match the price. The commission is still set to 10%.

is that 10% that you add on to the premium set by the insurance company or is that 10% what the insurance company pays you out of our premium?


10% that is paid out of the premium is correct. We don't add it on top of the premium.


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 Post subject: Re: Insurance Premiums
PostPosted: Wed Sep 10, 2014 9:57 am 
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Joined: Fri Aug 15, 2014 11:13 am
Posts: 60
Been looking for insurance for a new driver ( on private hire ) just phoned acorn and they said i can't carry over the 4 years no claims that i have on my own car....is this the norm with taxi insurance or are there any firms out there that will let you carry over your ncd ?.... (40 years old been driving for 20)


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 Post subject: Re: Insurance Premiums
PostPosted: Wed Sep 10, 2014 6:25 pm 
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Joined: Tue Apr 29, 2008 4:06 pm
Posts: 22094
Location: A City near Birmingham
paul2468 wrote:
Been looking for insurance for a new driver ( on private hire ) just phoned acorn and they said i can't carry over the 4 years no claims that i have on my own car....is this the norm with taxi insurance or are there any firms out there that will let you carry over your ncd ?.... (40 years old been driving for 20)


yes

another con

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 Post subject: Re: Insurance Premiums
PostPosted: Wed Sep 10, 2014 7:31 pm 
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Joined: Tue Apr 29, 2008 4:06 pm
Posts: 22094
Location: A City near Birmingham
I went from private motoring to haulage/courier work and lost 10 years NCB and then to PH and lost 5 years NCB, all without having any accidents

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