Taxi Insurance

Spending your days and nights transporting passengers all over your local area requires taxi drivers to have a high level of insurance cover.

First up, you may want fully comprehensive motor insurance that covers not only third party, fire and theft but also any injuries to you as the driver of the taxi and damage to the vehicle itself.

It’s important to note that taxi drivers must have a valid taxi insurance policy in order to legally operate their vehicle.

At Taxi Insurer, there is a wide range of additional options you can add to create cover that suits your taxi business needs, whether you operate hackney carriages or private hire vehicles. These include breakdown cover, windscreen cover, replacement vehicle cover, public liability cover and so much more.

For taxi insurance cover, get in touch with us and ensure you have the required documents to hand. For example, know whether you’re buying insurance individually or as a company first.

We will need your basic details and contact information. To speed up the process, be sure to have your vehicle registration number and your driving licence at hand.

Looking for cheaper taxi insurance? There's no denying that taxi insurance can be quite costly. Is there any way to find lower premiums?

Sure! Here are some tips to help you better understand how cover on taxi insurance is quoted:

• Pick a vehicle from a lower car insurance group: When choosing your public hire taxis, always consider which insurance groups they fall into. If your vehicle is in a low insurance group, you may get to take advantage of lower premiums when purchasing insurance. There are many different groups, with vehicles in the highest group generally associated with the most expensive insurance premiums. The Group Rating Panel places vehicles in groups, according to factors such as repairs, safety features, cost of spare parts, and the value of the vehicle. Get an idea of how much insurance will cost by researching what insurance group your taxi vehicle will fall into. This group rating system is run for the Association of British Insurers (ABI) by Thatcham Research, and most insurance providers follow it when they compare taxi insurance quotes.
• Drive safely: Avoid getting a conviction by following the rules of the road. Convictions can have a huge impact on your ability to get taxi insurance. Even if you have committed a minor offence that was not related to driving, some insurers may refuse to offer cover. If you drive safely, you can create a clean record for yourself and build up a no-claims discount over several years. Many insurers will offer discounts to drivers who have never made a claim. Some insurers may allow you to pay a little extra to ‘protect' the no-claims bonus you've built up. That means you won't lose your discount after making a single claim (or more) within a 12-month period.
• Choose a higher excess: When it comes to taxi insurance, finding the right balance between coverage and cost can be a challenge. One option that many taxi owners consider is opting for higher excess, lower premium insurance. This means that you would pay more out of pocket in the event of an accident or other incident, but your monthly or annual insurance premiums may be lower overall. You should always consider whether you would be able to afford the excess, should you need to pay it in the event of an accident or loss.

Finally, insurers may offer lower premiums to those who have had their taxi badge for a significant period of time. It's essential to build up years of safe driving to get these rewards.

• Public liability insurance: The first type of insurance is public liability insurance. This type of insurance covers you if your passenger gets injured or their property gets damaged while riding in your taxi. It also covers any legal costs that may arise due to an accident or injury caused by your taxi.
• Comprehensive insurance: The second type of insurance is comprehensive insurance. This insurance covers any damage to your taxi, whether it is caused by an accident, fire, theft, or vandalism. It also covers any damage caused to other vehicles involved in the accident.
• Third-party only: The third type of taxi insurance is third-party only insurance. This type of insurance covers any damage caused to other vehicles or property in an accident involving your taxi. It does not cover any damage caused to your taxi or any injuries sustained by your passengers.
• Named driver insurance: Another type of taxi insurance is named driver insurance. This type of insurance is suitable for businesses that have multiple drivers driving the same taxi at different times. Named driver insurance ensures that each driver is covered under the policy, even if they are not the owner of the vehicle.
• Taxi fleet insurance: If you find yourself with 3 or more taxis, there is Taxi Fleet Insurance. This type of insurance is suitable for taxi companies that have a fleet of taxis. A taxi fleet policy covers all taxis under one policy, making it easier and sometimes more cost-effective for businesses to manage their insurance policies.
• Minibus insurance: While driving a minibus is comparable to driving a taxi, it comes with a greater number of risks. They're larger vehicles, meaning accidents have the potential to cause more damage. This also means they can hold more passengers, which is an extra layer of responsibility. If you find yourself driving a minibus for any occasion, contact us about Minibus Insurance.

• Private hire insurance: Private hire vehicles are usually minicab-type vehicles that can't be hailed at a taxi rank or on the street. They can only be booked in advance.
• Public hire taxi insurance: Public hire vehicles, on the other hand, are black cabs and other types of vehicles that are licensed by the council to pick up fares on the street and at taxi ranks.