For taxi drivers, a taxi is much more than just a vehicle. It's their livelihood. That's why it deserves to be protected with specialist taxi insurance.
There are three main levels of taxi insurance available:
Third-party only (TPO): This type of insurance is the minimum level of coverage legally required for driving a taxi in the UK. It 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.
Third party, fire and theft (TPFT): This insurance level provides third-party cover and also compensates if your taxi suffers damage from fire, attempted theft, or if it’s stolen.
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.
It can depend on several increased risks associated with driving a taxi, such as higher mileage, more time spent on the road, and the responsibility of carrying passengers.
These factors contribute to a higher taxi insurance cost. However, there are ways to potentially reduce these expenses.
Private hire taxi insurance is a specific insurance type covering vehicles used as private hire taxis, which must be pre-booked.
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 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.
Sure! Here are some tips to help you better understand how cover on taxi insurance is quoted:
Choose a vehicle in a lower insurance group: Selecting taxis in lower insurance groups can reduce premiums. These groups are based on factors like repair costs, safety features, and vehicle value. Check your vehicle’s group on the Thatcham Research site to estimate costs.
Drive safely: Avoid convictions to keep insurance costs down.
Opt for a higher excess: Paying a higher excess can lower your premium, but be sure you can afford the excess if you need to claim.
Getting a taxi insurance quote with us is quick and easy. Simply provide some details, and we'll handle the rest. Here's what you'll need to share:
Include information such as the vehicle's registration number, current market value, mileage, and the date and place of purchase.
Specify if your taxi has any disability adaptations, CCTV or a dashcam, Thatcham-approved security measures, and a functioning meter.
Let us know whether you operate as a private or public hire, your licensing authority, annual mileage, passenger capacity, and whether you accept cash payments.
Annual policies offer comprehensive coverage, including public liability insurance and legal cover, which are important for professional drivers.
To arrange a no obligation taxi insurance quote please call our team on 0192 645 4929 today, or complete the request a call back form and we’ll call you at a time that’s convenient for you.
Yes, as long as your taxi insurance policy includes coverage for personal use. If you're considering letting your partner drive your taxi, be aware that they may not be permitted to do so unless they are also registered as a taxi driver. This is because some licensing authorities do not allow individuals without a taxi licence to operate a vehicle registered for private or public hire, even if it's for social purposes.
Some insurers may only provide coverage to drivers above a certain age, typically 21 or 25. Older drivers often benefit from having accumulated a longer no-claims discount period, which can help reduce insurance premiums.
If you have comprehensive coverage, Taxi Insurer will compensate you for the market value of your vehicle. Keep in mind that this amount may be affected by your taxi’s mileage.
You’ll be asked to provide separate mileage estimates for both private and business use. To calculate this, estimate the number of miles your taxi typically covers on weekdays, weekends, and any longer trips over the past year. Use this approach for both personal and business journeys to get a clear idea of your total mileage for each category.
You should be able to cancel your policy at any time; however, please note that you may incur an administration fee and will be charged for the period of coverage already provided.
This will depend on a number of factors, however, we may offer you taxi insurance if you:
Hold a full UK driving licence
Have maintained your driving licence for at least 12 months
Possess a valid taxi badge or licence
Satisfy the insurer’s age requirements, which typically set a minimum age of 21 or 25
No, you need taxi insurance if you are driving a taxi for profit because standard car insurance typically does not provide adequate coverage. This is because using your vehicle as a taxi involves additional risks, such as higher mileage and an increased chance of accidents or damage.
No. The no-claims discount (NCD) for taxi insurance is separate from the personal NCD you may have on your private car insurance. This means you will need to accumulate claim-free years specifically on your taxi insurance policy to qualify for any discounts.
Yes, you must have a valid taxi licence before you can obtain taxi insurance and legally drive a taxi or private hire vehicle. To acquire a taxi badge, you need to apply for a taxi licence through the licensing authority in the area where you intend to work.
This will be your local council if you operate outside London, or Transport for London if you plan to provide taxi services within London.
It depends on your insurance policy. If the accident was your fault and you have comprehensive coverage, you are typically covered for a courtesy car while your taxi is being repaired.
To confirm if you meet our insurers’ underwriting criteria, please contact our friendly team today on 0192 645 4929. Alternatively, you can request a callback by using our callback form.
We provide insurance coverage for a diverse range of taxi vehicles. To find out if you meet our insurers’ underwriting criteria, please contact our friendly team today on 0192 645 4929. Alternatively, you can request a callback by using our callback form.
Taxi insurance is generally more expensive than standard car insurance due to several factors that increase the risk for insurers:
Taxi drivers often spend more time on the road compared to the average driver, frequently driving during unsociable hours such as late nights and early mornings. This increased mileage and extended driving time expose drivers to a higher likelihood of accidents or incidents.
Taxis often carry more passengers than regular vehicles, which means there is a greater responsibility to ensure the safety of multiple people at once.
Larger vehicles, such as black cabs and minibuses, are commonly used as taxis, and these tend to be more costly to repair or replace, further increasing insurance premiums.
The nature of taxi work also involves transporting people commercially, which presents additional risks that standard car insurance policies do not cover.
No, private hire insurance usually does not include coverage for food delivery. While private hire insurance is designed to protect drivers transporting passengers, delivering food requires a distinct type of insurance often referred to as "hire and reward" or "commercial use" insurance. This specialised coverage protects the transportation of goods, such as food, for payment.
Taxi insurance is specifically designed to cover the unique risks associated with operating a taxi, which are not addressed by standard car insurance policies. Unlike ordinary car insurance, taxi insurance must account for the increased mileage that taxi drivers typically accumulate, often driving in busy urban areas and during unsociable hours. This increased exposure raises the likelihood of accidents and claims.