Which Type of Taxi Insurance Do You Need?

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Written by Michael Foote, Insurance and Finance Expert

Michael Foote is the founder of Quote Goat and has over 13 years experience working in the finance, insurance and currency sectors. Since launching Quote Goat he has appeared on TV as well as many of the largest online publications including Forbes, The Telegraph and The Metro. Prior to Quote Goat, he worked in finance in the city for a number of firms including HSBC.

In the UK, all motorists are required by law to have insurance cover. This means that if you’re involved in an accident then you’ll be covered for any damage you cause to other vehicles.  If you’re found to be driving without insurance, then the consequences can be severe.

Taxi drivers are also legally-bound to have insurance cover, but what many people don’t know until they want to become a cabby is you’ll need specialist taxi insurance if you want to transport passengers for a living.

Public Vs Private Hire Insurance

Every taxi insurance policy will fall under one of two categories: public hire and private hire. Public hire is where the customer can be picked up off the street by black cabs etc, while private hire or minicab insurance is a type of policy that’s required where the jobs are pre-booked, and a pick-up location is agreed., for example if you drive a cab for Uber.

There are a number of policies that fall under these categories, and it’s important to know the difference if you’re looking for taxi insurance. So, to help you make an informed choice and pick the type of cover that suits your needs and requirements, here are the main types of taxi insurance policies.

Single vehicle

As the name suggests, this is for taxi drivers who are operating just the single vehicle so if you’re a solo driver then this is the policy for you. There will be a range of add-ons and tweaks you can make to your policy to ensure the cover offers exactly what you need.


A multi-vehicle policy is for a driver or company that’s using more than one vehicle. These types of policy are great if you’re using multiple cars as you can save money on the overall cost by amalgamating the cover, kind of like buying in bulk! You should be able to cover all types of vehicles with this type of policy and it can cover both private and public hire, so everyone should be able to find a policy that compliments their circumstances.

Fleet policy

If you run a taxi firm, then you might want to insure all your vehicles under one, easy-to-manage policy instead. This is known as a taxi fleet insurance policy. There’s usually no limit to the number of vehicles you can insure under a fleet policy, and it removes the need to handle multiple policies for your vehicles, which can prove a real headache. Plus, all types of vehicles can usually be insured including minicabs, minibuses, for public and private hire use, so as well as being convenient fleet policies are also extremely flexible.

If you’re on the lookout for affordable cover, why not compare taxi insurance with Quote Goat? We help our users compare policies from dozens of providers, so for some of the best deals around why not run a quote today?