Four Tips for Finding Affordable Taxi and Limo Driver Insurance

If you’re a taxi or limo driver, you know how important it is to have low auto insurance premiums. If you’re new to the industry, you might be interested in learning the best tips for finding the most affordable insurance plans on the market. Here is a short guide to help you find the best for-hire taxi and limo driver insurance in Florida.

Check Your Credit Score

Your credit score is more than just a number. It’s used by lenders and auto insurance adjusters to set your monthly premium. This is why it pays to have a high score. The higher your credit score, the less you'll end up paying. However, the lower your score, the more you’ll need to pay to insure your taxi or limo. But this isn’t the only report that’s checked; don’t forget about your driving record.

Review Your Driving Record

Your driving record is a review of how good of a driver you are. Before applying for auto insurance, you should review your own record, so you can get an idea of whether your premium will be high or low. Also, it’s a good reminder of your driving score so that you can work on improving it for a lower insurance premium. It’s never too late to start driving safer!

Consider the Vehicle You’re Using

The vehicle you use, whether it’s a taxi or limo, will affect your auto insurance premium. If you’re using a new vehicle, you can expect a high insurance cost. However, older vehicles that will cost less to repair if you get into an accident will have much lower rates. Being in the service industry, you’ll likely need new cars for your fleet, so be prepared to pay above-average insurance premiums if you can’t take advantage of other methods for lowering your monthly premium.

Look for Local Auto Insurance Companies

You can vastly lower your auto insurance cost by working with local auto insurance companies. If you ask nationwide auto insurance providers for estimates for vehicles in your fleet, you might be surprised how much you’ll be charged for coverage. However, locally run auto insurance providers will cost you much less. This is because local insurance companies have fewer clients and aren't money-grabbers like large corporations.

There are a few tips you can begin using today for finding affordable for-hire taxi and limo driver insurance in Florida. Hopefully, by using this guide, you can lower your monthly premium and work with the best auto insurance provider in your area. Get started today by checking both your credit and driving record.