Save time and money
Written by Michael Foote, Insurance Expert
Collingwood specialises in motor trade and fleet insurance, not taxi insurance. They insure commercial vehicles and motor traders but do not offer dedicated taxi insurance policies for hackney carriage or private hire drivers. Taxi drivers need specialist insurers with products designed for licensed taxi work.
Who Collingwood’s Services Suit
Collingwood focuses on:
- Motor trade businesses requiring road risks insurance
- Fleet operators managing multiple commercial vehicles
- Specialist vehicle collectors and enthusiasts
- Businesses requiring bespoke commercial vehicle cover
Their underwriting expertise covers motor trade and commercial fleets, not licensed taxi and private hire operations.
Who Should Look Elsewhere
Consider alternative insurers if you:
- Operate as a hackney carriage or private hire driver
- Need public hire insurance with passenger liability cover
- Require cover for app-based work with Uber or Bolt
- Want hire and reward cover designed for taxi operations
- Need flexible policies for multiple drivers or vehicle substitutions
Specialist taxi insurance providers understand licensing requirements and offer tailored products Collingwood does not provide.
Common Reasons Taxi Drivers Are Declined or Pay More
When approaching insurers without taxi expertise, drivers often face:
- Outright policy exclusions for hire and reward activities
- Inadequate passenger liability limits for public hire work
- Lack of understanding around licensing authority requirements
- Policies that exclude waiting time or cruising for fares
- Higher premiums due to unfamiliarity with taxi risk profiles
- Difficulty adding named drivers or temporary replacements
- Claims complications when insurers discover undisclosed hire and reward use
Our Expert, Michael Foote, Says:
“Taxi drivers need insurers who understand the licensing framework and specific exposures of public and private hire work. Choosing a provider without taxi market experience can lead to coverage gaps, higher premiums, and claim disputes. Always verify your policy explicitly covers your licensing type and operational activities.”
What to Check Before Buying Taxi Insurance
Before committing to any taxi insurance policy, verify:
- Licensing compatibility: Ensure the policy matches your hackney carriage or private hire licence type
- Hire and reward cover: Confirm the policy includes explicit hire and reward use, not just social and commuting
- Passenger liability limits: Check public liability cover meets or exceeds licensing authority minimums
- Geographical limits: Verify coverage extends to all areas where you operate, including cross-border work
- Vehicle substitution: Understand provisions for temporary replacement vehicles during repairs
- Named driver flexibility: Check costs and restrictions for adding or removing drivers
- Excess levels: Compare voluntary and compulsory excesses, particularly for young or newly qualified drivers
- Breakdown and legal cover: Assess whether additional protections are included or available
- App-based work: If using platforms like Uber, confirm the policy covers app-based bookings and waiting time
Alternatives to Collingwood for Taxi Insurance
Several UK insurers specialize in taxi and private hire cover:
Specialist Taxi Insurers
- Aviva: Offers comprehensive taxi insurance through specialist schemes with experience in public and private hire
- Towergate: Provides tailored taxi products with flexible payment options and multi-vehicle discounts
- DCL: Known for competitive pricing and understanding the needs of hackney and private hire drivers
- Coversure: Offers brokered solutions with access to multiple taxi underwriters
- Zego: Provides flexible short-term cover suitable for part-time or app-based drivers
What Makes a Good Taxi Insurer
Look for providers who:
- Specialize in taxi and private hire insurance
- Understand local licensing authority requirements
- Offer flexible cover options for different operating models
- Provide competitive premiums for your specific risk profile
- Have established claims handling processes for taxi incidents
- Can accommodate modifications and accessibility conversions
- Offer business interruption or loss of earnings protection
How to Find the Best Taxi Insurance Deal
Securing competitive taxi cover involves:
- Obtain multiple quotes: Compare at least three to five specialist taxi insurers
- Disclose accurately: Provide complete information about your licensing, vehicle, and driving history
- Consider annual vs monthly: Annual policies often cost less overall than monthly instalments
- Review excess options: Higher voluntary excesses reduce premiums but increase out-of-pocket costs after claims
- Check for discounts: Ask about no claims bonuses, multi-vehicle discounts, and professional association memberships
- Read policy wordings: Verify all terms, exclusions, and conditions before purchasing
- Use comparison tools: Specialist brokers and comparison platforms can access multiple taxi insurers simultaneously
Understanding Taxi Insurance Requirements
Hackney Carriage vs Private Hire
Your insurance must match your licence type:
- Hackney carriages: Can be hailed on the street or wait at ranks, requiring public hire insurance
- Private hire vehicles: Must be pre-booked, requiring private hire insurance with different terms
Using the wrong policy type invalidates your cover and breaches licensing conditions.
Minimum Cover Requirements
All taxi insurance must include:
- Third party cover for injury to passengers and other road users
- Public liability insurance meeting licensing authority minimums
- Employer’s liability if you employ other drivers
- Cover that explicitly permits hire and reward activities
Many licensing authorities stipulate minimum passenger liability limits, often starting at £1 million but sometimes requiring higher amounts.
Cost Factors for Taxi Insurance
Premiums vary based on:
- Driver age and experience: Younger drivers and those with limited taxi experience pay more
- Claims history: Previous accidents or claims increase premiums
- Licence type: Hackney carriage and private hire policies differ in cost
- Operating area: Urban areas with higher accident rates typically cost more
- Annual mileage: Higher mileage increases exposure and premiums
- Vehicle type and value: Newer, more expensive, or modified vehicles cost more to insure
- Security measures: Alarms, immobilisers, and trackers can reduce premiums
- No claims bonus: Building a claims-free record reduces costs over time
Frequently Asked Questions
Does Collingwood provide quotes for taxi drivers?
Collingwood does not specialize in taxi insurance and does not market products for hackney carriage or private hire drivers. Taxi drivers should approach insurers with dedicated taxi insurance offerings.
Can I use a motor trade policy for taxi work?
Motor trade policies typically exclude hire and reward activities. Using a motor trade policy for taxi work will invalidate your cover and breach licensing conditions. You must have dedicated taxi insurance that explicitly covers hire and reward.
What happens if I use the wrong type of insurance for taxi work?
Operating a taxi without proper hire and reward insurance can result in policy voidance, prosecution for driving without insurance, licence revocation by your local authority, and personal liability for claims. Always ensure your policy explicitly covers your taxi activities.
How much does taxi insurance typically cost in the UK?
Taxi insurance premiums vary widely based on individual circumstances. New drivers might pay £2,000 to £4,000 annually, while experienced drivers with clean records might pay £1,000 to £2,000. High-risk profiles or urban areas can push costs higher.
Can I get taxi insurance with previous convictions?
Many specialist taxi insurers consider drivers with previous convictions, though premiums will be higher. The impact depends on conviction type, severity, and recency. Some insurers specialize in high-risk taxi cover.
Do I need business insurance as well as taxi insurance?
Taxi insurance policies typically include necessary hire and reward cover for driving activities. However, you may need additional business insurance for premises, equipment, or employer’s liability if you operate a taxi firm employing other drivers.
Can I insure a taxi for personal use only?
If you own a licensed taxi vehicle but use it only for personal purposes without carrying fare-paying passengers, you can obtain standard private car insurance. However, you must not accept fares or bookings while covered under a personal policy.
What is the difference between public hire and private hire insurance?
Public hire insurance covers hackney carriages that can be hailed on the street or wait at ranks. Private hire insurance covers vehicles that must be pre-booked through an operator. The policies differ in terms, conditions, and often cost.
Will my personal no claims bonus transfer to taxi insurance?
Most insurers treat taxi insurance separately from private car insurance due to different risk profiles. Your personal no claims bonus typically does not transfer directly, though some insurers may offer discounts for a clean private driving record.
Can I add a second driver to my taxi insurance?
Most taxi insurance policies allow you to add named drivers, though this increases your premium. The additional cost depends on the second driver’s age, experience, and claims history. Some policies include spouse or partner cover as standard.
Get Your Taxi Insurance Quote Today
Finding the right taxi insurance requires comparing specialist providers who understand your licensing requirements and operational needs. Whether you drive a hackney carriage, operate private hire, or work with app-based platforms, dedicated taxi insurers offer the cover and flexibility you need.
Use the quote button at the bottom of the screen to compare taxi insurance policies from leading UK providers. Get tailored quotes based on your specific circumstances and find cover that protects your livelihood without overpaying.