Taxi Insurance

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  • Cheap Taxi Insurance Quotes
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What is Taxi Insurance?

To anyone researching options for cheap taxi insurance, it won’t come as too much of a surprise to hear that most taxi insurance policies are more expensive and slightly more complex than your standard car insurance policy. You’re on the road all day or night, you’re carrying strangers to sometimes unknown locations, it’s a high-risk job when it comes to motoring accidents. For this reason, it’s really important that you fully understand your options and are able to compare the benefits and potential drawbacks of the policies you look at.

It’s always advised to compare policies and check for exclusions or specialist terms before you commit. Your hire and reward taxi business is your livelihood, so it’s really important that it’s covered properly.

Compare Taxi Insurance Quotes

We know how difficult comparing policies can be. That’s why our trained team are here to help you find dedicated brokers who want to quote you.

Our service is free and impartial with no obligation to buy.

Taxi Insurance

What our Comparison Expert Says

‘Being a taxi driver brings with it a certain level of risk that not all brokers want to take on. We’ll help you find specialist taxi insurance brokers who will insure you at a price that is suitable to you. Shop around and don’t pay over the odd for your policy!’

How our process works

We’ve worked hard to refine our process and keep it as quick, easy and simple as possible for our customers.

What Are The Types of Taxi Insurance?

As with most types of motor insurance, there are a number of cover options available to taxi drivers.

  • Third party only will cover you for any damage to another vehicle or person. It is the legal minimum for drivers in the UK. It will not cover any damage to your own vehicle or any personal injury costs.
  • Third party, fire and theft taxi insurance will cover the same as third party insurance but will also cover costs to your own vehicle should it be stolen or damaged by a fire. It won’t cover costs for repairs of your own vehicle caused by an accident.
  • Full comprehensive cover is possibly the most common type of insurance. It not only protects third parties, but also protects you and your own vehicle. This can be especially important for drivers whose livelihood depends on vehicles like taxi drivers, couriers or HGV drivers.

What Does Taxi Insurance Include?

Taxi’s will clock up a higher mileage and often will be covering a few different areas with varying risks. This can mean policies need to be more detailed in what they cover and the terms of the policy.

Taxi insurance policies will often include public liability insurance. This protects you if a passenger claims for damages to their belongings or themselves whilst in your vehicle. Public liability insurance offers very important cover to all kinds of businesses and can even cover injuries to the public at a depot if customers can wait on site for their taxi to arrive.

Add-Ons For Taxi Insurance

There are a number of add-ons to consider when comparing quotes.

Do I Need Taxi Insurance?

If you drive a taxi for a living, taxi insurance is a legal requirement. It doesn’t just protect third parties and your customers, but it also protects you and your income stream should anything go wrong.

Many different types of taxi can be covered by taxi insurance, from city-centre black cabs to Ubers and independent firms. All that you need to apply for a policy is a full taxi licence.

Who Can Get Taxi Insurance?

Anyone who owns a taxi and has a full taxi licence is eligible for a policy. There are some additional factors that may impact cost or eligibility. These are worth considering when it is time to compare taxi insurance quotes.

Factors that can influence cost and eligibility include:

  • Age
  • Location
  • Driving Experience
  • Years Since Acquiring Taxi Licence
  • Vehicle Type
  • Vehicle Age and Mileage
  • No Claims
  • Motoring Convictions

Some motoring convictions can make it more difficult to access affordable insurance policies. Specialist drink driving insurance and banned driver insurance can be options in exceptional cases although many insurers will be extra wary because there is a responsibility to your potential customers to be considered.

In these instances, it is worth discussing options with a specialist.

Do I Need Public or Private Hire Taxi Insurance?

The type of taxi insurance that you need may also depend on the type of taxi service you offer. There are insurance policies for public hire taxis and private hire taxis.

A private hire taxi can’t be hailed in the street, it must be pre-booked to collect passengers. This applies to taxi’s pre-booked via apps like Uber as well as minicabs.

A public hire taxi would be a vehicle like a black cab, one that picks up passengers from taxi ranks or is hailed in the street. Public hire taxis will typically have a taxi sign on the roof to indicate to the public that they can be hailed.

When you choose your policy, it’s important to check that it covers your service type and therefore any damage to your taxi or harm to yourself that may occur when on the road. Having incorrect cover could void your policy or impact your level of cover should you need to make a claim.

How Much Does Taxi Insurance Cost?

The cost of taxi insurance, as you would expect, is typically higher than personal car insurance.

One of the most important considerations if you’re looking for affordable policies is the vehicle you choose.

Of course, more expensive, luxury vehicles will cost more to repair and therefore to insure, but there are four door vehicles that fit into lower insurance groups and still remain comfortable for you as the driver and your passengers.

This is a decision you need to make early as it will greatly impact insurance costs and the quotes you receive.

On top of this you will want to consider fuel consumption, accessibility and emissions, particularly if you are driving near a clean air zone or ULEZ.

Frequently Asked Questions

Fleet insurance might be a good option if you own more than two taxis. A fleet policy covers all of your vehicles under a single policy and can be easier to amend if there are changes to vehicles or drivers. A fleet policy can also cover vehicle rental to drivers but there may be terms that mean specific drivers aren’t eligible.

If you’re unsure what is best, you can compare taxi insurance quotes or speak to an adviser.

You can still use a registered taxi for personal use, but rules on this will vary by area. Typically a policy will state whether you are also covered for personal use so it’s always best to check the terms of your agreement with your insurer.

The need for a taxi licence usually means that others in your household are not insured on the vehicle unless they also hold a licence. Your licensing authority and policy will be able to clarify whether this applies to you.

It is possible that on some taxi insurance schemes, you can be insured for fast food delivery.

Since Covid, many insurers have become more flexible with their schemes. Fast food delivery is usually an addon though and will not come as standard. You should always speak with the advisor when you get a quote if you wish to have this type of cover.

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