Cheap Taxi Insurance

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What is taxi insurance?

Taxi Insurance is a type of specialist cover for taxi drivers. Standard motor insurance is legally required for all vehicles on the road in the UK, however if you are carrying passengers, you will need taxi insurance. The type of cover you need depends on your business. If you are picking up passengers without pre-booking, e.g. passengers hailing a cab, then you will need public hire insurance. If your passengers are all pre-booked then private hire insurance would be suitable.

It is essential for all businesses to have the correct type of insurance and this certainly applies to taxi drivers and taxi company owners.

Why is taxi insurance more expensive than standard insurance?

In general, prices of taxi insurance policies are calculated based on levels of risk; as a taxi driver you will be on the road for longer than your average driver, you will often be working on congested roads as well as driving during unsociable hours and your vehicle could be larger than a standard vehicle which will place it up a higher insurance group.

All of these factors can contribute to increasing the cost of taxi insurance policies. However there are a number of ways that you can finder cheaper taxi insurance.

How to find cheap taxi insurance and save money

Taxi Insurance Comparison: Quote Goat make this easy by giving you access to a leading panel of taxi insurance specialists.

Do not auto-renew: Compare taxi insurance quotes each year to see if you can make a saving or to ensure that you are not over-paying for your cover when you renew your current policy.

Lower insurance group: As mentioned above, the insurance group that your taxi belongs to can have a big impact on insurance costs. When it comes to buying a taxi, pay attention to which group it belongs too.

Avoid convictions: All types of convictions can push up insurance costs, both non-motoring and motoring, so it pays not to speed, use your mobile or commit any offence that will need to be declared to your insurance provider.

No claims discount: Building up a no-claims bonus can have significantly reduce the cost of insuring a taxi.

How to compare taxi insurance quotes

Taxi insurance costs can vary significantly between insurance providers so it pays to shop around. Whether you need Black Cab insurance, Mini-cab insurance, Uber insurance or cover for another vehicle that transports passengers, you will need to have the right cover in place to protect yourself and your business.

Finding taxi insurance is easy with Quote Goat. Take just a moment to fill out the quote form and see how much you could save. If you have not yet looked for cheaper taxi insurance, have a go now.

If your business owns a fleet of taxis you can also compare taxi fleet insurance.

Types of taxi insurance policy

There are three main types of taxi insurance to choose from when it comes to a private hire taxi: policy-only, named driver and any driver.

Policy-Only: typically the cheapest level of cover, with the cost increasing for each name that you add to the policy.

Named Driver: Insurance for a taxi driver purchasing their own policy covering just themselves.

Any Driver: As the name suggests will cover any driver using your taxi.

As well as these three types of taxi insurance, you will also need to choose whether you have third party only, third party, fire & theft or fully comprehensive cover; just as you would for a standard motor insurance policy.

Third Party Only: The minimum level of insurance required by law, covers you for damage or injury to 3rd party property and 3rd parties if you are deemed to be at fault. Third party will not cover damage to your own taxi or yourself.

Third Party, Fire & Theft: Covers the above as well as the cost of replacing or repairing your taxi should it be stolen, damaged during an attempted theft or as a result of fire damage. It is important to note however that your claim may not be paid out unless you adhere to your policy’s terms which for example could include not paying out for theft if your vehicle was not properly secured.

Fully Comprehensive Taxi Insurance: The most complete level of cover which will usually everything above as well as damage to yourself or your taxi in the event of a claim, if it is your fault. Fully comprehensive policies may also include optional extras such as legal protection, which you can decide whether you require or not.

Taxi insurance extras

Legal cover, breakdown cover and public liability insurance are all optional extras that you may wish to include with your policy. We have listed a few other extras below to help you decide if you require any of them.

Damage to windscreen: can often be incorporated into a taxi insurance policy, however it is also known to come as an optional extra

License loss: it is possible to get protection in case you lose your license, paying you an income for a period once the license is taken away

Home assistance: assistance if you break down or your taxi will not start at your home

Ongoing transfer cover: assistance for passengers who need to carry on with their journey if your taxi breaks down

Public liability: protecting you against claims made by members of the public for injury or damage

Breakdown Cover: insurance to cover the costs of a breakdown

Non-taxi use: coverage for your own use of the taxi out of working hours can also be provided by some providers and is subject to your licensing authority’s rules.

Legal assistance: cover against legal fees and losses incurred as a result of an accident that was not your fault

If you are unsure about whether you require these, you can discuss this with the taxi insurance specialist that you speak to when getting a quote.

Including these covers in your taxi insurance policy may not always be the cheapest option, so it might be worth your while checking individual quotes for these products.

What information is required to get an insurance quote?

Getting a quote is quick, free & easy. The information you will need to hand includes:

Taxi Details: Make and model of your taxi or registration plate, type of taxi, type of use and approximate vehicle value.

Cover Details: Level of cover, no-claims bonus details for your taxi and a private no-claims bonus if applicable. How long you’ve held your taxi badge, who will be driving and details of any claims or motoring convicting in the last 5 years.

Your Details: Your name, address, date of birth & contact details.

Policies are priced according to individual circumstances however as a rough guide you can expect to pay from £1200 per year. We have seen quotes from as little as £13 a week but the best way to get an accurate quote is to complete the quote form.

Public hire cover is for taxis that pick up passengers without pre-booking, i.e. passengers that hail a cab. Private hire cover is for pre-booked journeys, including taxi booking services such as Uber and other mini-cab services.

Public liability taxi insurance is not a legal requirement although it could prove extremely important to protect you financially if the unexpected happens as it protects you if passengers in your care are involved in accidents or other unforeseen circumstances. It is a requirement if you deal with local authority or council contracts.

You can as long as your policy covers you for this, so you will need to check with the insurance provider. However it is worth noting that if you want someone else, e.g. a partner, to drive your taxi for personal use, you may not be able due to restrictions put in place by your licensing authority.

In theory yes, you will need to start by getting a quote. Your insurance provider will confirm when you policy will start from.

You can decide whether your policy covers just you, any number of named drivers or any driver.

Yes, although due to the increased risk that comes with insuring younger drivers, it is likely that your policy will be more expensive.

We can help people find insurance across all areas of the United Kingdom, including:

Bradford: There are seven taxi insurance brokers in bradford, use our site to compare quotes from them and other brokers/providers in the area.

Leeds: With Leeds being a university town and a vibrant business hub in the North, the demand for taxis during the day and evening is always going to be high. Our site compares quotes from taxi insurance providers across the across including Leeds.

Birmingham: Another buzzing town with a high demand for taxis, Birmingham is a great place for taxi drivers. Where there are taxi’s there are also insurance firms and this city is no exception. Compare cab insurance from brokers in Birmingham as well as other areas of the country to find the cheapest deal for you.

London: With over 30,000 uber drivers, not to mention the number of black cabs and mini-cabs, there is a huge demand for taxi insurance in London. We have a number of brokers on our system that specialise in the capital to help you find a cheaper deal.

Manchester: There are at least 9 taxi insurers in Manchester so it is much quicker to let us do the comparison for you as opposed to phoning up all them to get better cover. Pop your details in to the system and rest assured you are getting the best deal.

Yes! It is certainly possible to get taxi insurance as a convicted driver, however please be aware that your cover may be slightly higher because you will be seen as a greater risk to insure. The best way to find out is to get a quote now.

Taxi Insurance Products

  • Uber Insurance – If you drive an Uber, find out more and compare Uber insurance quotes.
  • Minicab Insurance – Insurance for minicab drivers. along with advice & guidance on how to reduce your minicab insurance costs.
  • New Badge Holder Taxi Insurance – When you’re starting your career as a taxi driver, it can be harder to find insurance, so let us help you.
  • Black Box Taxi Insurance – Could telematics in your cab help reduce the cost of your policy? Find out more.
  • Taxi Fleet Insurance – If you own a taxi firm you could benefit from managing all of your vehicles on one fleet policy, from taxis to buses. Find more information on this page.
  • Manchester Taxi Insurance – If you drive a taxi in Manchester, get a quote.
  • Liverpool Taxi Insurance – Taxi insurance comparison for drivers in Liverpool.

Taxi Insurance Guides

For information and advice about taxi insurance and more, visit our taxi guides section.