TAXI INSURANCE

Compare cheap taxi insurance quotes online

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Complete one short form to compare the cheapest taxi insurance quotes from a panel of 36 UK trusted insurers

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Compare taxi insurance with Utility Saving Expert

Every year, thousands of taxi drivers start their own businesses on the road. As a taxi driver, it´s your job to protect your life and that of your passengers. It´s not just about following routes - you have a responsibility.

Insurance is crucial to your occupation - whether you run a public hire or drive a private minibus. Yet, not all taxi policies weigh the same or cover a similar cost.

At Utility Saving Expert, we understand your need for protection at an affordable price. Taxi insurers don't always break down the fine print of their policies to customers. That's why we went ahead and did it for you.

We'll help you find the best deals on taxi insurance quotes catered to your needs and pocket. Getting covered doesn't have to be time-consuming. Consider it our due diligence to road safety.

Get a quote that suits you today

Any driver - young or old - can qualify for a taxi insurance policy. However, your personalized quote will take into account all the details of your taxi service, including:

  • Your age and contact
  • Taxi licence information
  • Vehicle type and value
  • Additional taxi drivers
  • No-claims bonus
  • Claims history
  • Recent motoring convictions

With the help of our online quotation tool, you could be staring at estimates from hundreds of providers - all within your range.

What does taxi insurance cover?

Because taxi drivers are among the most common motorists on the streets, they're also at greater risk of getting into collisions and crashes.

In the event of an accident, you need to know the kind of cover your insurance provider offers. Don't wait to find out after you sign the agreement. The damage often goes far beyond the steel frame of your vehicle.

Taxi driver insurance will support any persons you authorise on your policy. But it won't cover

  • Underaged drivers
  • Accidents due to illegal driving practices
  • Activities outside the terms of your agreement

Public Liability Insurance will cover the property and injury claims from any involved third party. Both passengers and pedestrians can benefit from this policy. Plus, it saves you the cost of compensating on your own.

However, not all insurers include this in your initial quote. You may have to pay for it separately.

Likewise, taxi owners with multiple drivers can request Employer's Liability Insurance. It will protect you from the expenses of members of your taxi team.

Other terms may apply to your policy, depending on whether you own a

The different types of taxi insurance

There's more than one level to taxi car insurance. Standard motor insurance policies come with three layers of coverage. Your hire is no different.

Comprehensive

The full package. As the most expensive policy, its premium offers maximum coverage for:

  • Injuries suffered by the driver, passengers, and other members of the public.
  • Personal items damaged in the accident.
  • Damages to third party vehicles and property.
  • Fire expenses to your taxi.
  • Theft-related damages to your vehicle.
  • Accident-related damages to your vehicle.

Third-party, fire, and theft

The standard or mid-level package. As the name suggests, it covers:

  • Injuries suffered by passengers and other members of the public.
  • Damages to third party vehicles and property.
  • Fire expenses to your taxi.
  • Theft-related damages to your vehicle.

Third-party only

The basic package. This is the lowest and cheapest requirement for all UK policyholders. It covers:

  • Injuries suffered by passengers and other members of the public
  • Damages to third party vehicles and property

Add-ons to your private hire taxi insurance cover

Like Public Liability Insurance, there are important terms that your regular insurance premiums don't include. Still, they're worth improving your policy.

Different firms have their restrictions. If you own a cab or minibus, you might want to use it on your days off. Keep an eye out for a policy that allows taxis for personal use.

Otherwise, consider getting something with

  • Legal cover to support you in court.
  • Breakdown cover to account for mechanical mishaps that could land your taxi in a garage.
  • Windscreen cover to cut costs on replacing a shattered glass.
  • Telematics cab insurance to gain rewards for safe driving.

Some taxi insurance companies offer cheaper add-ons than others. You can always purchase extras elsewhere from your main provider. Our quotation tool can help you choose the best deals to include in your taxi cover.

How you can keep the cost of your taxi insurance down

Taxi drivers spend more time in heavy traffic than other motorists. They're more likely to end up in an accident and file a claim.

Companies often weigh the odds when setting their taxi insurance policies. More accidents mean greater expenses for your provider. That's why taxi insurance quotes are so expensive.

Nonetheless, there is a range of options to reduce the cost of your premium. Here's our advice:

Pay annually

Monthly premiums typically amount to much more than a single payment at the end of the year.

Think of it as a bank loan with interest. Insurance companies tend to stake high rates for their policies, with little room for negotiation.

Drive safely

It's best to keep a clean slate with the law. Drivers with a history of motor convictions either;

  1. Get rejected by their insurance company; or
  2. Refuse insurance cover because they can't afford sky-high premiums.

Taxi car insurance is often a matter of probability. Vehicle drivers with a bad reputation for accidents most times find themselves in more.

Sometimes, it only takes one minor offence to turn off a provider. Even third party fire and theft policies can feel hefty after that.

It's not that companies don't think you need taxi insurance, but they can't afford your risks.

Pick a car in a lower car insurance group

Some years ago, the Group Rating Panel created a list of cars that rank for insurance premiums. Based on the list, high maintenance vehicles end up receiving expensive car insurance quotes.

Not only do these cars value more than others, but it would cost quite a penny to get repairs, spare parts, and new instalments. Naturally, they'd amass much more expenses in an accident.

Your insurance needs to safeguard the company against those possibilities.

But besides the rising premiums, larger cars can consume excessive gallons of fuel. Add that to the cost, then lower car insurance groups suddenly seem to look more attractive.

Of course, some chauffeurs need more spacious, heavy-duty hire vehicles to manage their type of business. Your pocket shouldn't have to suffer the consequences. Our tool can still find you a great deal on the price of your taxi cover.

Keep a clean record

Did you know that your driving experience can reduce your rates? Insurers will reward any taxi driver whose safe practices keep them from filing claims. You could be eligible for a no-claims bonus discount from your partner.

Hire taxis who remain claim-free for at least one year already benefit from 20% discounts on their plans. The longer you keep up the good work, the more reductions you'll receive!

Safe drivers can now pay to protect their discounts if they face an accident within the next year.

You don't have to wait for a mishap to reap the rewards of your policy.

Shop around for the best insurance

It's never wise to settle on your first option. Some firms make tempting offers at first glance, then trap customers in their terms and conditions.

While insurance brokers can save you some energy, it's a hassle to keep up with their limited services.

Our estimation tool from Utility Saving Expert can pull out all the greatest offers available across the UK within minutes. We'll use the data you give us to help you compare taxi insurance premiums that suit your dollar.

Increase your car's security

Ultimately, insurers gauge their premiums based on the predicted cost to cover your damages.

The more secure your vehicle, the less likely you'll be to experience a break-in. Ergo, the lower your rates.

Installing a CCTV keeps surveillance on tight locks around your vehicle. Moreover, the footage could save you from crime and serve as proof for your legal cover. For some professional hire taxis, the cameras form business policy.

Trackers, wheel locks, immobilisers, and alarms are all excellent options to include.

Your insurance company wants to see you put in that much effort into protecting yourself before they rush in with support.

Taxi insurance is essential. Yet, the type of policy you get depends solely on your personal needs. Factors like your age, driving experience and track record also matter here.

Amongst the three levels of cover offered by companies, most people opt for Third-party only, thinking that it will be cheaper. While its low dollar value is true, you might not be looking at the big picture.

Mid-level and basic plans normally cover everything but the driver's expenses. Though this won't necessarily be an issue for safe drivers, it's not for everyone.

Insurers tend to recommend that high-risk drivers opt for cheap plans. It's a clever way to match their accident rate to a lower premium.

Think about it - drivers who have frequent accidents won't be able to afford expensive policies. Likewise, providers won't have to dish out tonnes of cash to cover a single policyholder.

If you own an established taxi hire business, it's best to go for a Comprehensive plan. In the least, it will protect you from major recovery losses.

One of the first things you'll have to do at the start of your business is registering your taxi service. Not all hires operate under the same system.

Public hire insurance covers taxis that stop flagging passengers on the sidewalks. London black cabs and hackney carriages are typical examples. These can have quite sporadic schedules and varying routes.

On the other hand, private hire taxi insurance account for Uber systems and minicabs. These taxis operate using pre-booked schedules and won't typically stop for random hailers. You can find them near airports or travelling stations.

Every year, thousands of persons succumb to accidents involving hire taxis. Businesses and individuals end up in piles of expenses to cover the cost of damages and repairs.

Taxi premiums may not always look enticing, but the policies are there to protect you from debt and grief. The odds of an accident are far more likely than others lead you to believe.

One of the biggest mistakes owners make, however, is to exclude certain drivers from their policy. Should anything happen on their shift, your taxi insurance will not be able to cover it.

You have three options:

  • Policy Only - for all drivers enlisted
  • Named Driver - solely for the main driver
  • Any Driver Over the Age - for anyone in front of your wheel

Named Driver contracts typically permit up to four persons on the policy. The more names included, the more expensive the contract. Allow our tool to help you choose wisely.

Standard car insurance applies to regular motorists on their daily commute. As a hire taxi, you'll cover more miles and muddle through much more traffic than the average driver.

This is just as true for public hire as for a taxi under private hire insurance. It's the reason some providers use meters to track your mileage and estimate your policy.

Some hires find themselves covering far more road distance and venturing into risky areas because of their system. Even the demographics of your route can affect your price range.

More time on the road gives you a greater likelihood of ending up in a collision or crashing into a nearby object. Even if it's not fatal, they may still have to account for breakdown cover.

Thus, insurance firms need to calculate their losses before making any agreement. They also have to consider other policyholders who may file for the year.

If they expect to receive more taxis claims, then there must be money in place to support them. Higher premiums are their only way of securing help for your incidents in the future.

Although most countries offer driving licences by the age of 17, you won't be able to apply for taxi insurance before 21. Some firms will only process your hire insurance after you turn 25.

Moreover, insurers need to guarantee that they don't sign off the lives of passengers to amateurs. In most cases, you'll need to have at least one year of experience before owning a hire.

We can provide you with a taxi insurance quote for almost any taxi vehicle, whether you drive a:

  • Black cab
  • Minibus
  • Uber, or
  • Any other private or public hire taxi

For the best quote, check out our tips for each vehicle type. Cab cover policies vary from minibuses and Ubers.

Taxi fleet insurance is also an option for upscale transport systems with multiple hires. There's another smart advantage to lower your insurance costs. You'll be able to cover three or more vehicles in a single policy!

The insurance comparison technology we provide includes the following taxi insurance companies and brokers:

  • A-Plan
  • Plan Insurance
  • The Insurance Factory
  • Coversure Insurance
  • Todd Insurance Brokers
  • Quotax Insurance
  • Milestone Insurance Consultants
  • XYZ Insurance
  • Patons Insurance
  • Milestone
  • Barry Grainger
  • Broadsure Insurance
  • Insure Taxi
  • Osborne and Sons
  • Wilberforce Insurance
  • Insurance Centre
  • One Answer
  • Abbey Insurance
  • Freeway Insurance
  • The Taxi Insurer
  • Riviera Insurance
  • JMB Insurance
  • Sureplan Insurance
  • TaxiINS
  • Staveley Head
  • Bell Insurance
  • Much Ado About Insurance
  • Zego
  • SEP Insurance Services
  • Clegg Gifford Insurance
  • Coversure Insurance Services
  • Compare Insurance

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