Ability to pay the premium in installments
You will be lucky if the private hire insurance provider is happy for you to pay in installments. That will reduce the financial burden that you have to face in the delivery of services. It will also mean that you are in a good position to negotiate for further discounts. The charge for paying in installments is the interest fee payment. Typically you can expect to pay about 10% on top of the original price which was quoted by the provider if you make the decision to take up this offer.
Comprehensive cover discounts
There are certain discounts on comprehensive private hire insurance schemes. The rationale for the provider is that you will be paying slightly higher prices than a person on 3rd party cover alone. Therefore they can afford to give you discounts on the understanding that you will remain a loyal customer. If you are not offered these concessions then you need to tell your broker to campaign for them. They are the perks of getting the insurance policy from a specific provider. They also help your business to remain viable.
No Claims Bonus schemes
Where you have a good driving record it is possible to have the NCD scheme on your private hire insurance policy. This means that you will pay a lower premium than the average client. All the money that you save can be critical for ensuring that you can sustain the business on a long term. It also takes you out of the equation of trying to deal with various cost factors within the package that has been offered to you. Most of the drivers that join these schemes are unlikely to have accidents on the road and therefore the costs for everyone will go down.
Free spouse cover for social use only
If the local council that is responsible for licensing the vehicle in question agrees then you can have free spousal cover as part of the private hire insurance policy. This is a great perk in terms of ensuring that you can use the car for purposes other than business. Of course the council approval is required just in case you are one of those drivers that are willing to take out a policy for services that are outside the agreed contract. This is a dangerous step to take because you can end up losing the entirety of the coverage scheme.
The provision of unlimited windscreen cover
One of the final perks that you can get with private hire insurance is unlimited windscreen cover. Some people think that this aspect is not important but in reality there are many things that can happen to your windscreen and it is always comforting to know that you are covered under the policy. It is even possible to discuss the specific criteria with all the people that are handling the policy from the beginning to the end. It is such initiatives that will enable you to keep the business afloat through the use of good cost structures.