Insurance is typically one of the highest expenses a driver can have when working for a TLC base (like Uber or Lyft) after purchasing or leasing a vehicle. NYC TLC insurance pricing varies significantly based on various factors. One of the biggest factors affecting the price of insurance is typically your driving record – the more points or accidents you have, the higher your TLC insurance will be (yet another reason to drive safely!). Another important factor is the TLC base you are affiliated with – Black Car bases like Uber, Lyft, Gett and Via typically get discounts that Car Service Bases or Livery Bases typically do not get. The INSHUR app will automatically check your driving record and find all the discounts you are entitled to, so make sure you download our app today.
But what can you do if you have already racked up some points on your license? Fortunately there are several things you can do to lower your insurance cost. Here are our staff’s top 7 picks for cheaper Uber car insurance in NYC:
1.) Shop around
When you buy a car you typically shop around for the best price, right? So, make sure you do the same thing with TLC insurance. You can get a quote from INSHUR in minutes, which you can use to measure against your quote from brokers. Then whichever offers the best cover for the best price you can then purchase, knowing you checked your price.
2.) Take a driving defense course
A driving defense course is mandated by the TLC when you apply for your FHV or Taxi Medallion license. Once you take the course, you are automatically entitled to a 10% discount on your insurance making your TLC insurance premium cheaper for up to 3 years. Do not let your discount expire – 10% can be a significant savings for a lot of drivers. You can take the course at a licensed classroom instructor or you can now take the course online. If you are a NY resident, the course will automatically show up on your driving record which the INSHUR app checks for you to get the discount. If you live in another state, you will need to provide physical proof of course completion. Approved NY providers can be found below:
3.) Inspect your motor vehicle report
It is important to check your driving abstract for any inaccuracies. The INSHUR app automatically checks your driving record and let’s you know if there are any potential issues. Insurance carriers will often times surcharge you for accidents on your driving record, even if they are not your fault. It is important to check your record and save copies of any police reports associated with accidents where you are not at fault. Some carriers will accept a police report as proof that the accident wasn’t your fault, so make sure to keep it handy.
4.) Choose the right vehicle
Did you know that the vehicle you drive can affect your insurance price? Large SUVs and trucks with extra seating capacity may get surcharged a higher price for TLC insurance but the right car could win you cheaper TLC insurance. Some carriers offer discounts for hybrid and newer vehicles. So, choose the right vehicle to drive, not only will a big SUV cost you more in gas but it may also end up costing you more for insurance.
5.) Skip the instalments
INSHUR never charges any extra fees, but did you know that some carriers to charge finance fees for instalment plans? If you can afford it, it is sometimes cheaper to pay for your insurance policy upfront, rather than on a monthly basis. This will get you the best chance for cheap Uber insurance rather than paying in instalments.
6.) Drive your own vehicle
TLC owner drivers will usually get the best pricing on their insurance. If you plan to let someone else drive your vehicle, expect to pay more for your insurance. This also applies to drivers that decide to form another legal entity like a corporation or an LLC and register their car. Often there are significant higher insurance costs associated with corporate policies.
What about insurance?
Download our app today and get a TLC insurance quote in minutes. Simply scan your TLC license, tell us your details, select your vehicle and we will present you with our best quote. We do not charge any extra fees and you can use your credit or debit card to quickly buy a policy right on your phone.
If you are on desktop, search for INSHUR in your app store on your mobile.