Taxi insurance

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Not all taxis are the same, and neither are all taxi insurance policies.

If you drive any sort of vehicle for transporting people commercially, you’ll need a taxi licence and insurance by law.

Policies can cover more than just your standard black cab – all sorts of private hire cars will need taxi insurance, as well as public hire vehicles like hackney carriages.

Our panel of insurers includes options for MPVs, minibuses, chauffeurs, wedding car drivers and the carriage of schoolchildren, so you can get the right type of cover for your business.

As with other types of vehicle insurance, you can be covered third party only, third party fire and theft, or fully comprehensive.

Private hire or public hire insurance?

With public hire insurance, you can pick up customers from the street and be ‘hailed’ – think London black cabs and purpose-built taxi vehicles.

This is likely to be the most convenient option and can work out cheaper.

Private hire insurance only covers pre-arranged appointments from a selected pick up point, such as minicab drivers or airport pickup companies.

Taxi insurance extras

Legal cover, breakdown cover and public liability insurance are all optional ‘bolt-ons’ you might want to consider adding to your taxi insurance policy.

It’s worth checking whether you could find cheaper or more suitable cover separately for extras, rather than simply ‘bundling’ them with your vehicle cover.

London’s Uber drivers are estimated to earn £11 per hour after expenses.[2] Could you give yourself a pay rise with cheaper taxi insurance?

[2]Oxford University report ‘Uber happy? Work and well-being in the gig economy’[†] (October 2018) estimates an hourly rate after taking into account licencing fees, Uber service fees, fuel, vehicle tax, maintenance, vehicle rental/repayments, depreciation and insurance

Cut the cost of taxi insurance

Six tips for cheaper cab cover.

  1. Pay annually

    If you can, pay for your taxi insurance annually – monthly payments are essentially a loan with interest to pay and interest rates (APR) can be high

  2. Security and CCTV

    Installing Thatcham-approved security and CCTV cameras can make you a lower risk to insurers

  3. No mods

    If you don’t need to, don’t change your car from its standard kit

  4. Secure parking

    Store your taxi in a garage or on a driveway overnight

  5. Watch out for optional extras

    Only pay for the cover you need

  6. Shop around

    We take the legwork out of comparing policies

Let’s get some quotes

Here’s what you’ll need to tell us:

  1. Your details and your vehicle

    Basic contact information and whether you’re an individual or a company, plus your vehicle information, including its value and annual mileage.

  2. How you use your vehicle

    Private hire or public hire insurance and the name of your taxi licence council. Are you the only driver or do you need any-driver cover for a company?

  3. Modifications and security

    Let us know about things like ramps and other adaptations for passengers with disabilities. Security devices like CCTV or Thatcham-approved alarms and trackers might even get you a cheaper quote.

  4. No claims discount (NCD)

    If you have a no-claims bonus, did you earn it on your private hire or public hire policy, or on a private car insurance policy.

Frequently asked questions

  • Can a taxi be used for personal use?

    Yes, as long as your insurance policy covers you for this.

    If you want your partner to drive your vehicle, you might be out of luck if they aren’t registered as a taxi driver as well.

    That’s because not all licensing authorities will allow people without a taxi licence to drive a vehicle registered for private or public hire, even if it’s just for social use.

  • Why is taxi insurance so expensive?

    Taxi insurance is usually more expensive than conventional car insurance because taxi drivers tend to drive more miles, in all sorts of traffic conditions.

  • Will my age affect the cost?

    Some insurers will only be able to cover drivers over a certain age – commonly 21 or 25.

    Older drivers might also have had longer to build up a no-claims discount, which can make your insurance cheaper.

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News and articles on taxi insurance

[1] introduces customers to i-Wonder Aggregator Services Limited who is an Appointed Representative of ITC Compliance Ltd who is Authorised and Regulated by the Financial Conduct Authority.'s relationship with i-Wonder is limited to that of business partnership, no common ownership or control rights exist between us. Please note, we cannot be held responsible for the content of external websites and by using the links stated to access these separate websites you will be subject to the terms of use applying to those sites

[†]Please note, we cannot be held responsible for the content of external websites and by using the links stated to access these separate websites you will be subject to the terms of use applying to those sites

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