Taxi Insurance

Compare quotations with leading UK insurersMost UK hire and reward drivers have a choice of cheap taxi insurance options including cover for public and private hire vehicles. For firms that operate their vehicles, a taxi fleet policy is probably the best option, both in terms of possible money savings and also a fleet policy will reduce administration time. And we all know that time is a precious commodity for business owners.

Many taxi underwriters and broker offer a number of different hire and reward policies including public hire, private hire, contract work, chauffeur and fleet insurance. Certain add-on policies are also available to taxi drivers that compliment their taxi insurance cover. These add-ons will usually attract additional premium payable but should not be overlooked.

UK Minicab Insurance Typical taxi insurance add-ons include;

  • Motor breakdown
  • Public liability cover away from the vehicle
  • Excess protection
  • Guaranteed replacement plated taxi vehicle in the event of a fault or non fault accident
  • Motor legal expenses
  • Personal accident cover
  • GAP insurance for the vehicle
  • No claim bonus protection if you have cab bonus of at least 4 or more years

Not everyone is comfortable with obtaining a taxi or a private hire insurance quote online, for this reason most taxi insurance companies will also provide a contact telephone number on their websites. Before calling the taxi insurance company it is best practice to make sure that you have all or most of the information at hand for the taxi advisor to give a quote over the phone. Typical information that may be required includes;

  • Current or existing insurers name if applicable
  • Full vehicle details, such as make and model, engine size, year of make etc
  • Name of your local licensing authority, the council that issued your taxi or private hire badge; for example London Public Carriage Office (PCO)
  • Details of any previous or pending accidents, claims, incidents thefts on any motor vehicle including fault and non fault.
  • Details of any motoring convictions and fixed penalty points going back 5 years
  • Details of any private car or taxi no claims bonus that you can use for this policy. Some insurers will give introductory discounts on private car No Claims Bonus.

You must clarify exactly what your vehicle will be used for, either as a public hire taxi or a private hire minicab or even just contract works only such as school runs. A private hire insurance policy differs from a public hire taxi insurance policy. If unsure as to what you require get advice from your local taxi licensing department.

If you are also adding an additional driver onto the cab policy you will need to have all the details relating the second driver. Again full name, address, date of birth, points, accidents etc do need to be declared to the taxi advisor for this additional driver.

The age of a driver is a key factor in determining a cheap taxi insurance quote. For drivers that are aged between 21 to 25 years will usually pay a lot more than older drivers with a few years of cabbing experience under their belts. Some cab insurers will not offer any cover for drivers aged less than 25 years.

It is important to disclose all claims and accidents since it is the duty of the policyholder to disclose all material facts. Some taxi insurers ask for claims history for up to three years and others for up to five years. Remember even claims or accidents that are not your fault still have be declared. If any information is deliberately left out or misrepresented, you cab insurers have the right to void the taxi policy and return the premium. This means there is no longer a taxi insurance policy in force and no claims will be paid.