Taxi Insurance

Whether you drive a taxi on a public or private hire basis, you will need to ensure you have the appropriate insurances as part of operating legally and keep your vehicle on the road.

What is taxi insurance?

Operating as a taxi driver means that you need to insure the vehicle under a single taxi insurance policy.

Taxi insurance is designed to protect you as the driver, your vehicle, and your business against unforeseen incidents in connection with your job. It can cover a wide range of vehicles, and can help protect you against claims from the public, with insurance for your liabilities.

Taxi policies include hire and reward cover which allows you to legally carry people in exchange for a fee.

Do I need taxi insurance?

The simple answer is if you are operating a taxi service, then you will need to consider taxi insurance. This includes driving for a taxi company such as Uber.

By the nature of the job, taxi drivers tend to cover high mileage, involving the carriage of multiple passengers throughout each shift. Taxi insurance is designed to help protect your business from the increased risk of your profession. Standard car insurance does not offer suitable cover.

What levels of insurance cover are available?

Taxi insurance can be bought in a similar way to standard car insurance. Levels of cover include: third party only; third-party, fire and theft; and comprehensive. The most basic cover is third-party cover and this provides cover if you were to injure a third party or property in the course of your work.

However, this does not provide cover for damage to your own vehicle—this is where comprehensive cover can provide more protection.

Taxi fleet insurance may be more suited to your needs if you have multiple vehicles. Insurers will start their fleet-rated policies with different numbers of vehicles, so it is advisable to speak to a broker like Gallagher to understand if this might be preferable for you. You may find that some insurers will expect you to be operating at least three vehicles for this to be an option.