Taxi Insurance Trader’s guide to Taxi Insurance
What types of taxi insurance are available?
There are 2 types of insurance specifically for the taxi/private hire industry, these are:
Private Hire Insurance, also referred to as minicab insurance.
Public Hire Insurance, also referred to as hackney or black cab insurance.
The term “taxi insurance” can generally be used to refer to either of these types of insurance.
What’s the difference between private & public hire?
Private hire vehicles are restricted to pre-booking only, they are not permitted to use the sign “Taxi” on the top of their vehicle, and can not ply for hire at the side of the road in taxi ranks.
Public hire or hackney carriages are licensed and insured to collect
passengers at the side of the road. These are the vehicles that
typically have the “Taxi” light on top of the vehicle like London black cabs.
Use this link to find useful data about
rapid claims settlement
What type of vehicle can I insure?
This question is not really the one you should be asking. What you
should be asking is what type of vehicle can I license? If you can
license it, the likelihood is you can insure it.
The DFT’s legislation gives local authorities a wide range of
discretion over the types of vehicle that they can license as taxis or
PHVs. Some authorities specify conditions that in practice can only be
met by purpose-built vehicles but the majority license a range of
vehicles. You should check with your local licensing authority before
purchasing a vehicle for use as a taxi or private hire vehicle.
Can I insure more than 1 driver?
As with normal car insurance you can include additional drivers on
your taxi insurance policy in the form of named drivers or an any driver
policy. Any driver policies will usually have higher age restrictions
on than a normal car policy and can be prohibitively expensive if not.
I have more than 1 vehicle, can I still use Taxi Insurance Trader?
Taxi Insurance trader is capable of handling multiple vehicles
& multiple drivers. Alternatively, you can just fill in our quick
quote request, provide minimal details and our insurers will contact
What else can affect my taxi insurance annual cost?
Your level of insurance cover:
Fully Comprehensive (FC)
Third Party Fire and Theft (TPFT)
Third Party Only (TP)
You have the same levels of cover as with normal car insurance for
levels of cover, third party insurance can be significantly cheaper than
Your insurance policy excess. Most insurers can incorporate a
voluntary excess to provide the most cost effective insurance policy.
This can be a good way to reduce your costs when you start up.
Your no claims discount. If you have not built up any no claims
discount (also referred to as no claims bonus or NCB) with a taxi
insurance policy, some insurers will take in to account your personal
car insurance NCB. This will not save you as much as good commercial
NCB, but it can help.
Your vehicle. The vehicle you chose can obviously impact on your
annual costs both from an insurance view point, but also ongoing costs.
The majority of typical private hire vehicles are diesel due to their
Will I get an instant quotation online?
No, our system uses the details you provide and makes it available
to multiple insurers for them to assess on an individual basis, they
will typically then contact you to provide the quotation.
Please note, most of our insurers will not quote on policies due over
28 days into the future, so don’t panic if you don’t get an immediate