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 Post subject: New Driver Insurance
PostPosted: Thu Jun 27, 2024 4:09 am 
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Joined: Fri May 24, 2024 6:12 am
Posts: 4
I’m due to get my badge this sometime week, hopefully today if the council do things at a reasonable pace (they probably won’t)

The majority of my quotes have been coming in at £4500-6500 depending on how the systems are feeling on that day!

I’m looking to call a different broker to see if they can do better than I’ve already found - (£5491 is this weeks lowest so far) - I did have a £3400 quote, but that broker realised I wasn’t over 25 so I’m not eligible for that policy (really helpful :badgrin: )

Quite frustrating for a year (and abit) to be the difference of £2,000, quite ridiculous if you ask me #-o ! Like £2/300 I’d understand, that’s a 55% markup just for being young :cry:


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 Post subject: Re: New Driver Insurance
PostPosted: Thu Jun 27, 2024 7:19 am 
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Joined: Tue Apr 03, 2007 11:27 pm
Posts: 19734
PlymTaxi3 wrote:
I’m due to get my badge this sometime week, hopefully today if the council do things at a reasonable pace (they probably won’t)

The majority of my quotes have been coming in at £4500-6500 depending on how the systems are feeling on that day!

I’m looking to call a different broker to see if they can do better than I’ve already found - (£5491 is this weeks lowest so far) - I did have a £3400 quote, but that broker realised I wasn’t over 25 so I’m not eligible for that policy (really helpful :badgrin: )

Quite frustrating for a year (and abit) to be the difference of £2,000, quite ridiculous if you ask me #-o ! Like £2/300 I’d understand, that’s a 55% markup just for being young :cry:

one word of warning. there are only so many underwriters doing the taxi market. Once you have been to 3 or 4 brokers all the underwriters will have already seen your details so going to even more brokers will just end up duplicating the work at the underwriters and they don't like that so you may even find your quote goes up even more. The only way it will come down is if you find a broker who will discount their own commission.


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 Post subject: Re: New Driver Insurance
PostPosted: Thu Jun 27, 2024 11:54 am 
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Joined: Wed Sep 03, 2003 7:30 pm
Posts: 54495
Location: 1066 Country
That’s a crazy level of premium.

No wonder that people aren’t flocking to join the trade.

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IDFIMH


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 Post subject: Re: New Driver Insurance
PostPosted: Thu Jun 27, 2024 11:56 am 
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Joined: Fri May 24, 2024 6:12 am
Posts: 4
Quote:
one word of warning. there are only so many underwriters doing the taxi market. Once you have been to 3 or 4 brokers all the underwriters will have already seen your details so going to even more brokers will just end up duplicating the work at the underwriters and they don't like that so you may even find your quote goes up even more. The only way it will come down is if you find a broker who will discount their own commission.


Thanks :)

I was going to try one different broker, and failing that I was going to call it a day and just take the cheapest offer available

Did have a Quick Look on that confused.com taxi thing and that was even worse!!!


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 Post subject: Re: New Driver Insurance
PostPosted: Thu Jun 27, 2024 11:59 am 
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Joined: Fri May 24, 2024 6:12 am
Posts: 4
Sussex wrote:
That’s a crazy level of premium.

No wonder that people aren’t flocking to join the trade.


It’s not particularly great haha, though I was expecting it to be quite high as my courier insurance was was like £3300 last year

Some of the guys I was at a training event with last week were getting quotes around £4000, and they’re like early 40s :-|

Honestly though, it is what it is, it only works out to an extra £45/50 a week worst case scenario


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 Post subject: Re: New Driver Insurance
PostPosted: Thu Jun 27, 2024 8:34 pm 
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Joined: Wed Sep 03, 2003 7:30 pm
Posts: 54495
Location: 1066 Country
Always a good thing to look at it in a positive way.

And the premiums will fall over the years, provided you don't always claim. 8-[

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