INSURANCE

[Shallowhal]

We'll all get to that stage when the bills come down and you'll end up working less hours,i've already hit that point,know what i need to make and i make it.

[TaxiMark]

Who here would stay in business with an 8k quote?Not me anyway. Realistically 2.5k is my limit.I'd make more doing something else.

I pay 7 and do just fine.

Never thought I'd be saying this..............but I'd nearly be happy with 7K!

[Vikkiz]

No I believe ya, I just wouldn't want your tax liability though.Most of us owner-drivers wouldn't have a renter's expenses so it's not worth doing all them app jobs to end up with a big bastard of a tax bill IMO.

By my rubbish calculations, you've got easily an extra 20k per year to claim as expenses compared to an owner-driver.

7k insurance(holy fukking Mary)
9k rental(50*180?)
5k Fuel?
5k+  Mytaxi commision?

So even when you eventually own yer own rig and get the insurance down to 2k your tax liability will be perhaps 7k? a year covering all that app work..I'd rather be poor than give the revenue that much money.

And that’s why VD thinks we are lazy. We’ve all been there and worked hard and long shifts but that was long before app companies could be asked to produce your earnings. We’re all older, wiser and the bills aren’t too bad. We’ve worked to be this easy going.

[dalymount]

Jeeez 7k ? I think hard of paying the USC and prsi,never mind tax,but then again I only do about 25 hours a week

[Belker]

The premium will be calculated as a base figure + x% loading for claims + y% loading for penalty points - z% NCD. Loading % (x and to a lesser extent y) vary depending on "circumstances" but it seems that a much higher % will apply to x if you have NCD protection or if step back NCD applies, essentially the % used will negate any perceived advantage attached to such "protections" - may seem fraudulent but it's all in accordance with the T&Cs attached to the policy.

@ Stephen;
I just got my insurance quote, it's 2800 which includes 680 fer the protected NCD.
I have a fair idea of what your advice to me would be, but I'd like to hear it anyway.

[Vikkiz]

Belker,
My advice would be to look at the OP. They took the NCB off their policy and the shit hit the fan. Can you afford for the shit to hit the fan?

[Belker]

You all think I do 70 or more hours a week ....I don't!
I am always gold on mytaxi,and get on average 2 jobs an hour for my 45 hours a week.

The Gold status on MyTaxi is of very limited appeal to me as it only gets you an early peep at the pre-book screen and I as a night time driver have almost no interest in pre-books, I usually only ever average Silver on any given week.
What is important to me is being Ambassador and having Priority, that's gets me a small time advantage on the instant hails and the instant hails and street hails are my Bread n Butter.

[Belker]

Belker,
My advice would be to look at the OP. They took the NCB off their policy and the shit hit the fan. Can you afford for the shit to hit the fan?

I don't wish fer the shit to hit the fan at all, but as Rats points out regardless if you have protected NCD or not, the shit will hit the fan anyway.

[Vikkiz]

Belker,
My advice would be to look at the OP. They took the NCB off their policy and the shit hit the fan. Can you afford for the shit to hit the fan?

I don't wish fer the shit to hit the fan at all, but as Rats points out regardless if you have protected NCD or not, the shit will hit the fan anyway.

I'd like to think that the NCB protection will mean I don't get taken for as big a ride if I had an accident

[Belker]

I'd like to think that too, but at 680 per year, is it really worth it ?
Going by the Rats estimations you will get loaded regardless if'n
you are 'Protected NCD' or not.

When I First got 'Protected NCD', it was given to me fer 'Free'
fer being a long time customer, the year after it was a Deuce,
the year after it was a Trummer, Etc.
Last year it was Six n a bit but I still took it fer peace of mind.

At aged 53 and mostly driving like a Grandad with Zero P.P.'s,
is the 680 'Protected NCD' really worth it ?

[Vikkiz]

Mine is about that price too but I'll pay it for my piece of mind

[Belker]

Mine is about that price too but I'll pay it for my piece of mind

That indeed was my same train of thought fer many years, but on reading the Rats tale I have kinda changed my mind.
Rats is No Fool when it comes to this kind of stuff;

The premium will be calculated as a base figure + x% loading for claims + y% loading for penalty points - z% NCD. Loading % (x and to a lesser extent y) vary depending on "circumstances" but it seems that a much higher % will apply to x (claims) if you have NCD protection or if step back NCD applies, essentially the % used will negate any perceived advantage attached to such "protections" - may seem fraudulent but it's all in accordance with the T&Cs attached to the policy.

[Vikkiz]

If having a full NCB gets me a 60% discount that would mean a current premium of €2k would be €5k without NCB, now load that €5k because of a claim and You are looking at €7k and increased premiums for a few years

€680 for a protected NCB with step back is worth it in my eyes

[Belker]

If having a full NCB gets me a 60% discount that would mean a current premium of €2k would be €5k without NCB, now load that €5k because of a claim and You are looking at €7k and increased premiums for a few years

€680 for a protected NCB with step back is worth it in my eyes

I would agree, IF THE PREMIUM WAS ACTUALLY 'PROTECTED',
but seemingly it's not, the insurance companies have all types
of Loading charges and if you have a Tip then your NCB is protected,
but your Base rate increases by about 200% !

The Rat will be on later and explain it in more detail to us.

[Vikkiz]

I'll wait til himself gets bored of dreaming about building his shed so