Taxi Insurance: Keep Your Taxi & Business Covered

Why Taxi Insurance Matters

Driving a taxi isn’t just about picking up fares—it’s your livelihood. Whether you operate a black cab, private hire vehicle, or a ride-sharing service, you rely on your car for income. But what happens if you're involved in an accident, your vehicle is stolen, or a passenger makes a legal claim against you?

Unlike standard car insurance, taxi insurance is specifically designed for vehicles used for hire and reward. It ensures both you and your passengers are protected financially if something goes wrong. Without the right cover, you risk fines, losing your taxi license, or being out of work while covering unexpected repair costs.

Types of Taxi Insurance: Finding the Right Cover

Taxi insurance varies based on the type of service you provide. Understanding these options helps you choose the best policy for your needs.

Public Hire Taxi Insurance

If you drive a hackney carriage or a black cab, your vehicle can be hailed on the street or picked up from a taxi rank. Public hire insurance is required because your car is accessible to passengers at any time, increasing potential risks.

Example Scenario: You're at a busy taxi rank when another vehicle misjudges a turn and collides with your taxi. Your public hire taxi insurance covers the cost of repairs, so you’re not out of pocket.

Key Coverage Features:

• Passenger and third-party liability protection
• Legal cover for accident claims
• Vehicle damage, fire, theft, and vandalism cover
• Breakdown assistance to keep you on the road

Private Hire Taxi Insurance

If you drive a pre-booked vehicle for a minicab service or a ride-hailing platform like Uber or Bolt, you need private hire taxi insurance. Unlike public hire taxis, private hire drivers cannot pick up passengers without a booking, but you still need cover for both your vehicle and your passengers.

Example Scenario: You’re on your way to collect a customer when another driver rear-ends your vehicle at a traffic light. Your private hire taxi insurance covers the repair costs and ensures you're not left without an income.

Key Coverage Features:

• Protection for accidents while driving passengers
• Passenger liability cover
• Legal expenses if a claim is made against you
• Coverage for vehicle theft or vandalism

Uber and Ride-Sharing Taxi Insurance

Many ride-sharing platforms require drivers to have **private hire insurance** that meets their specific standards. If you drive for Uber, Bolt, or other services, ensure you have the right cover to meet licensing regulations and platform requirements.

Key Considerations for Ride-Share Drivers:

• Does your policy cover food delivery services like Uber Eats?
• Are you covered if an accident happens while waiting for a ride request?
• Do you need additional fleet insurance if you operate multiple vehicles?

Comprehensive Taxi Insurance

Comprehensive taxi insurance provides full protection for both your vehicle and passengers. Whether you drive a private or public hire taxi, this is the most complete option.

Example Scenario: Your taxi is stolen overnight, leaving you unable to work. A comprehensive policy covers the cost of a replacement vehicle while your claim is processed, ensuring you don’t lose income.

Key Coverage Features:

• Protection for your vehicle and third-party claims
• Fire, theft, and vandalism cover
• Public liability and legal expenses
• Loss of earnings cover if your vehicle is off the road

How Much Does Taxi Insurance Cost?

The cost of taxi insurance varies depending on:

• Vehicle Type: More expensive or high-mileage vehicles may have higher premiums.
• Driver Experience: More experienced drivers often qualify for lower rates.
• Location: City-based drivers may pay more due to higher traffic risks.
• Policy Type: Comprehensive insurance typically costs more but provides greater coverage.

Ways to Reduce Your Taxi Insurance Costs:

• Consider a black box (telematics) policy to reward safe driving
• Pay annually instead of monthly to lower premiums
• Maintain a clean driving record to qualify for no-claims discounts

Additional Cover Options

Breakdown Cover

If your taxi breaks down during a shift, you could lose a day’s income. Breakdown cover ensures you get back on the road quickly, minimizing financial loss.

Public Liability Insurance

Essential for protecting against passenger claims. If a passenger is injured while entering or exiting your vehicle, this cover handles legal costs and compensation.

Personal Injury Cover

If you’re involved in an accident and can’t work, personal injury cover provides financial support while you recover.

Common Taxi Insurance FAQs

Do I need taxi insurance to drive for Uber or Bolt?

Yes. Uber and Bolt require all drivers to have private hire taxi insurance that meets their licensing and regulatory standards.

Can I use my taxi for personal driving?

Most taxi insurance policies allow personal use, but always check your policy details to confirm.

What happens if I get into an accident with an uninsured driver?

Comprehensive taxi insurance often includes uninsured driver protection, meaning you’re covered even if the other driver lacks insurance.

Get Your Taxi Insurance Quote Today

Finding the right taxi insurance doesn’t have to be complicated. We’ll help you compare policies and find a plan that suits your needs. Get a quote today and stay covered on the road.