Taxi Insurance
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Why compare cheap taxi insurance quotes with SimplyQuote?
Comparing taxi insurance quotes can be stressful, time-consuming, and downright overwhelming – even more so when you have a business to run.
That’s why SimplyQuote’s 100% free, online comparison tool was designed to streamline this process. With SimplyQuote, you can compare taxi insurance quotes from multiple insurance providers across the UK and find the best deal suited to your business and budget – today!
What do you need to get a quote?
Please provide the following details so SimplyQuote can quote you:
- Personal details – name, surname, age, address
- Business details – registered name, number of employees, ride-hailing affiliation
- Vehicle details – make, model, average mileage, off-duty parking location, modifications
- Driver/s details – name, age, driver’s licence, taxi licence/badge, past convictions
- Insurance details – claims history
- Policy details – the level of cover you want, policy add-ons, named drivers, etc.
Why do you need taxi insurance?
You are legally required to have taxi insurance if you drive a taxi in the UK, whether you operate on a full-time, part-time, or casual basis.
Taxi insurance differs from standard car insurance as it covers the specific risks of commercially transporting passengers for hire and reward purposes. Having taxi insurance ensures you, your vehicle, and your passengers are protected in the event of an accident.
Taxi insurance is also known as:
- Hire and reward insurance
- Public hire insurance
- Private hire insurance
- Rideshare/Uber taxi insurance
- Minicab insurance cover
- PCO insurance
- Black cab insurance
Who can get taxi insurance in the UK?
Anyone who operates a taxi business can get taxi insurance in the UK, provided the taxi drivers meet the following criteria:
- Be between 21 and 75 years old (some insurers may regard 25 as the minimum age).
- Hold a valid UK/EU/NI driving licence.
- Hold a valid taxi operator licence issued by your local council.
- Reside and work in England, Scotland, Northern Ireland or Wales.
What does taxi insurance cover?
The type of cover taxi insurance provides is based on your specific policy and can vary between insurers. Typical comprehensive policies cover:
- Personal driving – standard social, domestic and pleasure (SD&P) cover is often included
- Vehicles – damages, repairs, theft, breakdowns, lost keys
- Driver/s – personal injury, personal items, legal bills
- Passengers – injury, property damage, personal belongings
- Third-party persons – known as public liability insurance
- Fleets – fleet insurance provides consolidated cover for multiple taxi vehicles
- Taxi business – covers office premises and may include employers’ liability cover
- Legal expenses – legal claims, lawyers fees
Note: You may need to pay more for some of these policies as optional extras.
What’s not covered?
- Costs incurred with driving under the influence of illegal drugs or alcohol.
- Driving without a valid licence or taxi permit.
- Deliberate acts of theft, vandalism, damage or burglary.
- Negligence costs such as leaving doors unlocked and the vehicle stolen.
- If an unnamed driver/uninsured person drives your taxi.
- When the vehicle is not used for hire and reward purposes.
- Goods in transit.
What kind of vehicles can you drive with taxi insurance?
- Standard saloon cars
- Multi-Purpose Vehicles (MPVs) – up to eight seats
- Private hire taxi
- Public hire taxi
- Uber vehicles
- Minibuses
- Black cabs/hackney carriages
- Luxury cars
- Limousines
- Chauffeur services
The key is making sure that your insurance matches the type of vehicle you intend to use for your taxi service. Always check with your insurance provider to confirm that your vehicle is covered under your specific taxi insurance policy.
What types of taxi insurance are available in the UK?
The UK has three types of taxi insurance that protect drivers, their vehicles and third-party persons while behind the wheel, namely:
Public hire taxi insurance
This insurance provides protection for taxi drivers who collect passengers curbside or at taxi ranks, as well as for public hire taxis that pick up passengers with prior bookings, such as London black cabs and hackney carriages.
Private hire taxi insurance
This insurance is designed for drivers who collect passengers through pre-arranged bookings made via ride-hailing apps or hotel concierges. Private hire taxis, such as Uber, minibuses, private tour guides, and those providing school or nursing home transportation, are not permitted to ply for hire or solicit passengers at taxi ranks or on street corners.
Bonus Read: What Insurance Do I Need For Uber?
Taxi fleet insurance
This insurance cover is ideal for taxi operators with more than two vehicles, whether for private or public hire. It allows multiple taxis to be covered under a single policy with one renewal date, and mini-fleet insurance is also available.
“Taxi drivers often face higher premiums due to their increased time on the road. At Simply Quote, we make it easy to find competitive rates by connecting you with specialist insurers. Complete a quick form, and insurers will contact you to discuss the details, ensuring your cover is accurate and tailored to your needs.”
Chris Richards, Founder of Simplyquote.co.uk
What levels of taxi insurance can you get?
Much like standard car insurance, taxi cover has three levels you can choose from:
- Third-party only (TPO)
- Third-party, fire and theft (TPFT)
- Fully comprehensive cover
Note: Some taxi insurers may only offer TPO or fully comprehensive plans.
| Type of Cover | Description | What It Covers | What It Does NOT Cover |
|---|---|---|---|
| Third-party-only (TPO) | Basic-level cover; the minimum required by UK law. | Covers third-party persons, vehicles, and property in the event of an accident. | Does NOT cover the taxi driver or their vehicle for any damages or injuries. |
| Third-party, fire and theft (TPFT) | Mid-tier cover that includes TPO benefits. | Covers fire damage or theft of your vehicle. | Does NOT cover vehicle repairs from a collision or personal injuries to the driver. |
| Fully comprehensive | Top-level cover that includes TPO and TPFT benefits. | Covers vehicle repairs, the taxi driver’s personal injury and legal costs, and may include additional benefits like breakdown cover. | May not be available with some insurers, who could only offer TPO or fully comprehensive plans. |
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What add-ons are available for taxi insurance?
When purchasing taxi insurance, several optional extras can be considered to enhance your cover:
Public liability cover
This is crucial for protecting against claims if a passenger is injured or their property is damaged during a trip. While it’s often included in standard policies, some insurers offer extended public liability cover for an additional charge.
Legal cover
This provides financial protection for legal expenses that might arise, especially in the event of an accident that is deemed your fault.
Loss of licence cover
If you lose your taxi driving licence, this cover can provide financial support during that period.
Replacement vehicle cover
This policy add-on ensures you receive a replacement car should your taxi be in for repairs or servicing. It’s also referred to as courtesy car insurance.
Taxi base insurance
Should you operate your taxi business from a brick-and-mortar premises, you’ll need this policy to ensure your property is protected.
Breakdown cover
Given the high usage of taxis, breakdown cover can be a lifesaver, ensuring you’re not left stranded and can get back on the road quickly.
Windscreen cover
This covers the cost of repairing or replacing your taxi’s windscreen if it gets damaged.
Telematics insurance cover
A telematics insurance policy installs black box devices in your taxi vehicle. These devices track, monitor, and record driving habits and behaviour and send it to your taxi insurance provider to calculate premiums.
These extras can provide additional peace of mind and protection in a variety of circumstances, beyond what standard taxi insurance policies offer. It’s important to assess your specific needs and consider these options to tailor your insurance policy accordingly.
How much does taxi insurance cost?
You can expect to pay between £1,600 and £1,800 annually for taxi insurance in the United Kingdom. However, pricing is determined by several factors, such as location, taxi driver age and experience, and the vehicle you drive.
What impacts insurance premiums?
- Location – cities are generally more expensive than rural areas.
- Drivers’ age and experience – younger drivers tend to pay higher premiums.
- Type of vehicle – expensive brands are more costly to insure.
- Vehicle age – older cars have a higher breakdown risk and therefore have higher fees.
- Motoring convictions – licence points and convictions will increase your insurance prices.
- Driving history – responsible driving will reduce your insurance costs.
- No-claims bonus – frequent claims will drive up your premiums
How can you get cheaper taxi insurance premiums?
There are many ways to reduce your taxi insurance premiums:
Compare quotes
Compare quotes from specialist insurers to find a deal that aligns with your needs and budget. Look for policies that align with your working style, including cover levels and optional add-ons. It’s advisable to get quotes from at least three providers for comparison.
Pro tip: Use SimplyQuote’s free online comparison tool.
Considers telematics
Telematics technology (a.k.a. black boxes) tracks and measures your driving data, such as acceleration, speed, braking, and cornering. This can demonstrate to insurers that you’re a low-risk driver, which can help reduce your insurance costs.
Build a good driving history
A clean driving history with no offences or previous accident claims can significantly reduce your insurance costs. Attending an advanced driving course can also be beneficial.
Review policy details
Pay close attention to what is included in your taxi insurance policy and only pay for the add-ons you need.
Choose the right vehicle
The vehicle you drive can influence your insurance premiums. Opt for cars with better safety ratings, lower repair costs and smaller engines to keep insurance costs down.
Consider an electric car
Electric vehicles (EVs) can be cheaper to insure due to lower maintenance costs, safety features, and reduced theft risk. Some insurers offer discounts for EVs.
Opt for an annual policy
Annual policies can be more cost-effective compared to monthly policies. While monthly policies offer flexibility, they tend to be more expensive in the long run.
Keep modifications to a minimum
Avoid excessive modifications on your taxi vehicle as these extra bells and whistles will hike your insurance premiums.
Secure your taxi
Keep your taxi vehicle/s secure when not in use, such as in locked garages or private driveways. Opt for additional security features like immobilisers, alarms, dash cams or CCTV cameras to deter criminal activity.
Install a dash cam
Dash cams monitor the road ahead and can be useful when determining who was at fault in a collision. Insurance providers favour dash cams because they provide helpful information when processing claims.
Recommended read: Why Private Hire Drivers Need A Dash Cam
How to compare taxi insurance quotes with SimplyQuote
Comparing taxi insurance quotes with SimplyQuote is easy and hassle-free:
- Fill in the quick questionnaire with personal, vehicle, and business details.
- Select policy extras you want to include in your taxi insurance policy.
- Quickly compare quotes with the online comparison tool.
- Save money and get the best deal today!
Frequently Asked Questions
Taxi insurance is a specific type of vehicle insurance for taxis – both public and private hire – which includes hire and reward cover. It is vital for legal compliance and offers protection against accidents, damages, and liabilities.
Private hire insurance is a type of taxi insurance specifically designed for private hire drivers who collect pre-booked passengers.
Public hire taxi insurance is car insurance for public hire drivers who collect curbside passengers or “tout” at taxi ranks.
Yes, a taxi driver can use their commercial vehicle for personal driving as long as they have social, domestic and pleasure (SD&P) included in their insurance policy.
These insurers offer taxi car insurance in the UK:
- Abbey Insurance
- Freeway Insurance
- Taxi Insurer
- InsureTaxi
- Riviera Insurance Services
- Towergate
- Zego
Written by Chris Richards
Page last reviewed on 9th October 2024 by Chris Richards