Prepare documents to prove that you are a bona fide business
The provision of private hire insurance is dependent on your ability to prove that you are a licensed business that has no restrictions on your operations. There are a number of documents that you can produce including a badge from the local authority. In addition you will need to have a driving license which is indeed a minimum requirement for getting involved in this business. The presence or documentation will make it easier for you to begin the application process.
Use the internet to compare providers
Comparison is one of the most important aspects of the private hire insurance industry today. Drivers are looking for a great deal based on price as well as other peripheral benefits. It is therefore imperative that the provider is able to fulfill these requirements. There are different alternatives under consideration but they do not remove the principal dimensions of the industry or the basic requirements which need to be met. Instead they provide a new platform through which the industry can be effectively controlled.
Get a short list of 5 insurers
A short list of the top five insurers will help you to make your decision based on the services that they are delivering. Make sure that you check to ensure that the comparison is actually accurate because price is not the only criteria that you can look at. There are many other considerations that you might want to explore before settling on any given provider at any given time. This short list does not have to confirm to all the criteria which you have set but it must meet the majority of critical issues which you have identified.
Get individual quotes and compare them
The quotes that you get will tell you the real private hire insurance package that you are getting. Ensure that you review the exclusion clauses to ensure that they are not unnecessarily restrictive. Some insurance companies will draw you in with promises of great coverage or low prices but when you examine the actual proposal, there is very little that they are bringing to the table. This is your chance to ensure that you get the best deal possible in the circumstances. You also need to be wary of comparison websites which promote their sponsors without actually look at the provision as presented.
Read the terms before agreeing to the page
The terms and conditions will tell you in no uncertain terms about the type of private hire insurance package that you are getting. Ensure that you understand all the obligations just in case there is any problem down the line when you need to make a claim. The policy has to conform to the minimum industry standards which have been agreed amongst the major players for this sector. In addition you have to ensure that you are getting the best possible deal in the circumstances. It is better to pay for the package outright rather than suffering the interest rate payments that come when you pay in installments.