Minicab Insurance
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Why Compare Minicab Insurance Quotes With SimplyQuote?
SimplyQuote understands comparing multiple minicab insurance quotes can be time-consuming, overwhelming and stressful.
That’s why the free online comparison tool is designed to simplify the process in a few easy steps.
Quickly compare numerous minicab insurance quotes from first-rate UK insurers and start benefiting from cost savings today!
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What Do You Need To Get A Quote?
A few things you need to get a minicab insurance quote include:
- Vehicle registration number
- Name in which the vehicle is registered in
- Vehicle size (i.e. how many seats/doors)
- Vehicle make and model (including any modifications made)
- No-claims bonus history
Why Do You Need Minicab Insurance?
You need minicab taxi insurance if you transport people commercially (i.e. for a fee).
It’s a legal requirement for taxi drivers who offer private hire cab services in the UK.
Private hire insurance is also known as hire-and-reward insurance.
A comprehensive taxi insurance policy covers cab drivers in the event of accidents or injury to themselves and third parties while transporting passengers.
Who can get private hire taxi insurance?
Any cab driver transporting people commercially through pre-booked services can get private hire insurance in addition to:
- Aged between 21 and 75
- Hold a private hire taxi badge
Note: Private hire drivers transport passengers who use pre-booked taxi services (e.g. Uber). Public hire drivers are “flagged down” on the street (e.g. black cabs in London) and need a different form of cover.
Looking for the cheapest Minicab Insurance? Get your quote today!
Get QuotesWhat Levels Of Minicab Insurance Can You Get?
There are three main levels of cover when it comes to taxi insurance:
Third-party only (TPO)
TPO is the minimum level of cover needed to drive on UK roads. It’s also the cheapest level of minicab cover.
It covers injury or damages to third-party persons/vehicles in the event of an accident.
Note: It does not cover expenses for your minicab vehicle(s).
Third-party, fire and theft (TPFT)
TPFT covers everything TPO covers including the compensation if your minicab is damaged by fire or stolen.
Note: TPFT does not cover repair costs if your vehicle is in an accident.
Fully comprehensive
Fully comprehensive cover is generally the most expensive level of minicab insurance. It includes TPO and TPFT cover in addition to other benefits:
- Vehicle repair costs
- Repair or replacement of broken/damaged windscreens
- Up to £5,000 of personal injury cover for the vehicle driver
- Medical expenses
- Personal belongings cover
- Incorrect fuel usage cover
- Key replacement
What Does Minicab Insurance Cover?
A standard minicab insurance policy includes the minimum legal requirement of public and employer liability.
Public liability
Public liability protects (i.e. covers legal bills) you against claims made by third parties for injuries or property damage.
Employers liability
If you employ cab drivers, you will need employers’ liability. It covers claims made by staff for injuries or illnesses sustained while on the job.
What vehicles does minicab insurance cover?
- Ride-hailing app cabs (e.g. Uber, Gett, Bolt, Ola)
- Private hire vehicles (PHVs)
- Regular saloon cars
- Multi-purpose vehicles (MPVs)
“Minicab drivers face unique challenges on the road, and their insurance premiums often reflect those risks. At Simply Quote, we simplify the process of finding competitive insurance rates by connecting you directly with specialist minicab insurers. Fill in our quick form, and insurers will get in touch to discuss tailored policies, ensuring you receive the most accurate cover for your needs.”
Chris Richards, Founder of Simplyquote.co.uk
How Much Does Minicab Insurance Cost?
You can expect to pay between £180 – £200 per month for private hire taxi insurance in the UK. However, pricing is based on several factors.
What impacts minicab insurance prices?
- Age
- Driving history
- How long you’ve held your license
- License points
- No-claims bonus record
- Driving distances
- The age and type of your minicab vehicle
- Your UK location
- Where the vehicle is parked when not used
Related read: How much does taxi insurance cost in the UK?
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What Are The Optional Minicab Insurance Add-Ons Available?
Additional extras for minicab insurance policies include:
Breakdown cover
Some drivers will choose to add breakdown cover to their standard minicab insurance if it isn’t already included in their policy. This provides an additional layer of protection in case you experience a mechanical fault with your vehicle and ensures you won’t have to pay unexpected fees for call-outs.
Off-duty cover
Check whether your minicab insurance policy covers you to drive your vehicle for personal use. If this isn’t included as a standard offering, you will need to take out additional cover if you wish to drive your cab as a domestic vehicle when you aren’t working.
Note: Personal motor insurance will not cover you if your vehicle is used commercially.
Age restrictions
Local authorities and insurance providers can set age restrictions for taxi cab drivers.
These usually relate to a minimum age of 21, or sometimes 25 years of age. Although some insurers provide policies for younger drivers, this could increase the price of your premiums considerably, so it’s worth checking carefully before you proceed.
What minicab insurance is best for my business?
Apart from the compulsory public and employer liability cover, a fully comprehensive taxi insurance plan is the best to go for.
This ensures you, your vehicle and third-party persons/vehicles are adequately covered.
How To Get Cheaper Minicab Insurance Rates?
There are many ways you can reduce your minicab insurance premiums, such as:
Choosing your car carefully
The type of vehicle you have impacts the price you pay for insurance.
Whilst driving a high-end vehicle can seem attractive, you may find more reasonable insurance quotes – and cheaper running costs – for moderate, yet reliable, minicabs.
On the flip side, older vehicles tend to cause more trouble. It’s all about striking the right balance between vehicle reliability and cost savings.
Shop around
Compare taxi insurance quotes from a wide range of UK insurance providers.
Quickly compare, switch and save on your minicab premiums when using SimplyQuote’s user-friendly online comparison tool.
Avoid automatic renewals
Rollover tariffs are the most expensive and many insurers roll your policy over when you haven’t confirmed or negotiated a new insurance deal.
Switch insurance providers before your policy comes to an end to avoid this from happening. Comparing quotes allows you to see what other insurance policies are available.
Secure your minicab
Busy streets with traffic and pedestrians bring potential risks of car thefts or break-ins and road accidents. Minicab drivers who live in remote areas or quieter towns and villages will probably find they have cheaper premiums compared to London-based drivers.
Wherever you live, you can influence the premiums you are offered by ensuring you have access to off-road parking in a safe and secure area, for example, on your private driveway.
Adjusting your payment terms
Insurance providers will offer better deals for cover paid annually rather than monthly. Whilst this means you will need to pay your entire policy upfront, it could reduce your bill by hundreds of pounds throughout the year.
How To Compare Minicab Insurance Quotes with SimplyQuote?
Compare minicab insurance quotes with SimplyQuote in four easy steps:
- Fill in the short form: Tell us about yourself, your vehicle, and your location.
- Choose policy add-ons: Choose which additional cover add-ons you want.
- Compare quotes: Find a quote to suit your budget and taxi insurance needs.
- Save money: Get the best deal to start saving today.
Frequently Asked Questions
While both types of insurance essentially cover the same thing, there are slight differences:
- Private hire is when taxi services (i.e. minicabs) are booked in advance through ride-hailing cab apps (e.g. Uber, Bolt) or booked through a hotel concierge.
- Public hire taxi insurance applies to taxis being flagged down on the street, like black cabs in Birmingham.
A fully comprehensive minicab insurance policy is best for UK taxi drivers. It covers third-party claims and repair costs should your vehicle be in an accident.
PCO taxi insurance is another name for private hire insurance. It provides cover for taxi drivers who operate on pre-booked taxi services.
Written by Chris Richards
Page last reviewed on 23rd October 2024 by Chris Richards