If you run your own taxi service business you will be keen to reduce or at very least contain your business expenditure. One of your expenses will be taxi insurance as you will be aware it is a legal requirement that such cover is in place on your vehicles unless they are declared SORN (Statutory Off Road Notification) and kept off the public road system.

Well, some interesting research has been conducted by Which? that has revealed some motorists may end up paying more for their car insurance if they get a quote in the middle of the night.

For instance, they obtained 8 quotes for a motorist located in London with a leading price comparison website and found that quotes were on average more expensive between 3 to 4am with the cheapest quotes averaging £519. Between 12 to 1am the average cheapest quotes were £496. However, between 9am to 10am the cheapest average quotes were £441 with the same quote also between 12 to 1pm, 3 to 4pm and 6 to 7pm. However, between 6 to 7am and 9 to 10am the average cheapest quotes were at there lowest at £434.

We are sure that you will agree the above figures make for interesting reading and you may wish to take the above into account when looking for quotes to insure your taxi.

Of course, it would be interesting to find out why some insurance companies decide to increase the cost of their cover at certain times of the day/night. Apparently, one insurer revealed that its claims data identified that more claims as well as higher costing claims are received by people who obtained quotes for car insurance early in the morning or later at night.

It is worth noting that the average cost of car insurance is based upon numerous other things such as the make and model of car, the age of the driver, where the motorist lives, the number of miles driven each year, what the car is used for and what the policy excess is.

It is worth mentioning that if you are looking for a competitive quote to insure one or more of your taxis why not get in contact with us. We provide access to a reputable panel of specialist insurance companies without any obligation. We look forward to hearing from you at your earliest convenience.