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 Post subject: Insurance Premiums
PostPosted: Wed Jul 16, 2014 8:43 am 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
Hello Everyone

We are based in Newcastle upon Tyne and specialise in Taxi Insurance in the North East, mainly Newcastle, North Tyneside & Gateshead.

Curious as to what sort of premiums you are getting across the country, are they coming down, or a bit static?

Is there anyone here from the North East area?

Mike


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 Post subject: Re: Insurance Premiums
PostPosted: Wed Jul 16, 2014 11:46 am 
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Joined: Mon Jun 06, 2011 10:58 pm
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BestfordandCompany wrote:
Hello Everyone<br abp="723"><br abp="724">We are based in Newcastle upon Tyne and specialise in Taxi Insurance in the North East, mainly Newcastle, North Tyneside & Gateshead. <br abp="725"><br abp="726">Curious as to what sort of premiums you are getting across the country, are they coming down, or a bit static? <br abp="727"><br abp="728">Is there anyone here from the North East area?<br abp="729"><br abp="730">Mike


What you mean is how much are you paying because it will help guide me to screw as much as possible out of my clients without dropping too low ! :twisted: :twisted: :twisted: :twisted: :twisted: :twisted:


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 Post subject: Re: Insurance Premiums
PostPosted: Wed Jul 16, 2014 2:40 pm 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
No, simply comparing North East rates to rest of the country.
We do not offer insurance other than the North East.

We have seen certain areas' rates drop but Cities have remained the same or slightly increased. We are seeing premiums break the £1000 mark hopefully going back to years ago when this was the normal


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 Post subject: Re: Insurance Premiums
PostPosted: Wed Jul 16, 2014 3:09 pm 
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Joined: Tue Apr 03, 2007 11:27 pm
Posts: 20017
BestfordandCompany wrote:
We are seeing premiums break the £1000 mark

Going which way?

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 Post subject: Re: Insurance Premiums
PostPosted: Thu Jul 17, 2014 10:27 am 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
Yeah probably should have made it clearer

A few years ago, maybe longer we saw premiums at an average of £1,400 with Taxi Drivers with full years no claims discount, especially in Newcastle upon Tyne.

For the first time we have seen quotes of £954 for Newcastle, and even less for more rural areas such as Northumberland.

We are looking to expand into Stockton, Darlington as one of our insurer's have given us specialist rates here.


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 Post subject: Re: Insurance Premiums
PostPosted: Thu Jul 17, 2014 8:28 pm 
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Joined: Tue Apr 29, 2008 4:06 pm
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Location: Twixt Heaven and Hell, but nearest Hell
BestfordandCompany wrote:
Yeah probably should have made it clearer

A few years ago, maybe longer we saw premiums at an average of £1,400 with Taxi Drivers with full years no claims discount, especially in Newcastle upon Tyne.

For the first time we have seen quotes of £954 for Newcastle, and even less for more rural areas such as Northumberland.

We are looking to expand into Stockton, Darlington as one of our insurer's have given us specialist rates here.


Whats wrong with the rest of the UK?

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 Post subject: Re: Insurance Premiums
PostPosted: Fri Jul 18, 2014 8:52 am 
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Joined: Tue Jul 15, 2014 4:50 pm
Posts: 15
It's not that we refuse to provide insurance elsewhere, we would offer quotations where possible. As a small brokerage we have been given specialist rates in the areas around us which is where we have built our business from.

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.

I did have a quote for London the other week and our quote was £3300 which he didn't take, I have nothing to compare nor would I know what kind of rates are the normal in London.

I would love to see us offering insurance in other areas, the more business the better. The only problem I see is obtaining documents from Taxi Drivers. We love the fact our drivers come into our office at New Business & Renewal stage, plus better for us as no chasing documents :)

Thanks for all the replies :)

Mike


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Jul 18, 2014 5:47 pm 
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Joined: Tue Sep 21, 2010 7:35 pm
Posts: 1855
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 !


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Jul 18, 2014 5:53 pm 
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Joined: Thu Aug 19, 2010 10:08 pm
Posts: 244
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.


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 Post subject: Re: Insurance Premiums
PostPosted: Fri Jul 18, 2014 7:14 pm 
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 Post subject: Re: Insurance Premiums
PostPosted: Sun Jul 27, 2014 9:33 am 
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Location: Braintree, Essex.
BestfordandCompany wrote:

I did have a quote for London the other week and our quote was £3300 which he didn't take,



I wonder why?


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 Post subject: Re: Insurance Premiums
PostPosted: Sun Jul 27, 2014 7:59 pm 
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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

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 Post subject: Re: Insurance Premiums
PostPosted: Sun Jul 27, 2014 8:30 pm 
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Joined: Sun Jan 28, 2007 8:58 pm
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Location: Plymouth
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?

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 Post subject: Re: Insurance Premiums
PostPosted: Mon Jul 28, 2014 8:28 pm 
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Joined: Thu Aug 19, 2010 10:08 pm
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OK here's my deal. current insurer give me quote of £1740 :shock: Because of 2nd person insured who is aged 71, even though we have 9 years no claims, he said not many underwriters would even look at it. I shopped around and finally paid £1020 to Swinton for the same cover as before. thats £720 saved.


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 Post subject: Re: Insurance Premiums
PostPosted: Wed Jul 30, 2014 8:58 am 
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Location: Twixt Heaven and Hell, but nearest Hell
I paid £950 with protected NCB (5 years) and PL included, just me to drive PH with Enterprise policy via Taxi insure Glasgow

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