The recession has led to a marked rise in unemployment, particularly in the younger age group, and this means that many young people are looking for new ways to start their career. Becoming a taxi driver can be a great option and can be the perfect solution for people that want flexibility and good income potential, but there’s one thing that can get in the way of that dream—insurance. People under the age of 25 are deemed to be a higher insurance risk than older drivers and as such could find it difficult to get a suitable level of cover, so is it possible to get taxi insurance for under 25s?
As a general rule it’s perfectly possible to find insurance for this age group, but it’s still going to take some searching if you want to find a policy to suit. Not all insurance firms will offer such cover because of the perceived risk involved (with this age group tending to make more claims than any other) so you’ll often need to head to the specialists, and you’ll need to be prepared to pay slightly higher premiums than older drivers as well.
But, all is not lost—if you already drive a vehicle and can show a good claims history you’ll often be able to get great discounts in spite of your age, and the key to finding this type of cover is research. You need to scour the market to see the type of quotes available and ideally compare every quote you come across until you find the best deal, and if you head to a broker or price comparison site you could soon find what you’re looking for.
So, while finding taxi insurance for under 25s isn’t impossible, you need to be prepared to spend both time and money in order to get a suitable policy. As long as you show you’re a competent driver those high premiums won’t have to last forever, and if you head to the specialists you could find it even easier to get a policy that will suit your precise needs.