Online Taxi Gap Insurance Quotes

Specialist Taxi Gap Insurance. Cover your taxi and save, with specialist gap insurance

   Get a free Online Quote in minutes

   Specialist, A-Rated insurer

  UK Customer Service Centre

  Cover for vehicles up to £150,000

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Taxi Gap Insurance Made Easy. 

Cheap Taxi Gap Insurance UK

Buying a brand new taxi is exciting, but it’s also a well-known fact that your new car depreciates in value the second you drive it off the forecourt.

Taxi Gap insurance covers your car up to the value you paid for it, and not the market value of the vehicle the second you’ve driven it away.

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Riviera Insurance
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Dazzler DjDazzler Dj
09:52 24 Jan 22
Amazing service - I Had a email about renewal - sent a reply and no more than 5 mins later received a phone call - I’m so impressed - it’s nice for a company to value your business - Sarah was very friendly extremely helpful and very professional - I would certainly recommend this company. - Dave Catmore
Jasper WybrantsJasper Wybrants
09:39 24 Jan 22
Tom was really responsive and came back with a really competitive quote really quick. Will use them again as the whole process was painless.
We’ve been with Riviera Insurance for over 5 years! They are professional, friendly and care about their customers. I highly recommend them.
Claudia ApostolClaudia Apostol
15:19 21 Dec 21
Really nice team, I was insured for the last 3 years by this insurance company.Keep the good work!
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How GAP Insurance works

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New Taxi Gap Insurance UK pays the difference between your taxis value and its current market value if it’s stolen or written off.

What is Taxi Gap Insurance?

Taxi GAP insurance works alongside your normal taxi insurance policy by topping up the pay-out amount in the event your car is written off.

When you buy a brand new or nearly new vehicle, its value decreases quickly once you start driving it. If you then need to claim, the settlement figure you are offered would often be lower than the amount you have paid for the vehicle, the value of a lease agreement, or the outstanding balance of any finance agreement.

This leaves you with a shortfall to pay – the GAP policy is designed to insure the sum between the two figures.

Taxi GAP insurance works alongside your normal taxi insurance policy by topping up the pay-out amount in the event your car is written off.

When you buy a brand new or nearly new vehicle, its value decreases quickly once you start driving it. If you then need to claim, the settlement figure you are offered would often be lower than the amount you have paid for the vehicle, the value of a lease agreement, or the outstanding balance of any finance agreement.

This leaves you with a shortfall to pay – the GAP policy is designed to insure the sum between the two figures.

Get a Quote

Is it worth getting Taxi Gap insurance?

That depends. Your standard taxi insurance policy should provide you with enough protection to replace your old vehicle with a similar one, and if you are happy with that, you may not need taxi Gap insurance.

Taxi GAP insurance will benefit you if your car is written off either through, fire, theft or a collision. The purpose of this type of insurance policy is to enable you to replace the car with a like-for-like brand new one. Alternatively, Gap will cover you if you need a pay-out big enough to cover any outstanding lease or finance agreement on the vehicle.

According to the AA, the average driver in the UK does around 10k miles per year; this level of mileage could see your new vehicle depreciate in value by approximately 60% after three years.

For example, a car that cost you £30,000 brand new may only be worth around £18,000 after three years on the road.

In the event the car was written off, your motor insurance would pay you out the current vehicle value of £18,000.

If you have a taxi GAP insurance, the policy would pay out the difference between these two figures.  Topping the pay-out up to £30,000 meaning that if your car was written off, you would be able to replace your existing vehicle with a brand new one, meet the terms on your lease agreement, or clear your outstanding finance plan.

That depends. Your standard taxi insurance policy should provide you with enough protection to replace your old vehicle with a similar one, and if you are happy with that, you may not need taxi Gap insurance.

Taxi GAP insurance will benefit you if your car is written off either through, fire, theft or a collision. The purpose of this type of insurance policy is to enable you to replace the car with a like-for-like brand new one. Alternatively, Gap will cover you if you need a pay-out big enough to cover any outstanding lease or finance agreement on the vehicle.

According to the AA, the average driver in the UK does around 10k miles per year; this level of mileage could see your new vehicle depreciate in value by approximately 60% after three years.

For example, a car that cost you £30,000 brand new may only be worth around £18,000 after three years on the road.

In the event the car was written off, your motor insurance would pay you out the current vehicle value of £18,000.

If you have a taxi GAP insurance, the policy would pay out the difference between these two figures.  Topping the pay-out up to £30,000 meaning that if your car was written off, you would be able to replace your existing vehicle with a brand new one, meet the terms on your lease agreement, or clear your outstanding finance plan.

What’s Included With Taxi Gap Insurance?

  The difference between the amount your taxi insurer pays you and the amount you originally paid for the vehicle (or the balance owed under a finance agreement, if this greater)
 a hire vehicle (of a similar size to your insured vehicle) for up to 28 days while you are awaiting settlement of your claim.  

What isn’t covered by Taxi Gap Insurance?

 Kit cars, invalid carriages, commercial vehicles in excess of 3,500kg gross vehicle weight 
  American, Australian or Canadian vehicles not built for the UK market
 Competitions or rallies, track days, racing, pace making, speed testing, reliability trials or off-road use
  Carriage of goods solely for delivery or courier purposes (unless specifically agreed by us)
 Driving tuition (unless specifically agreed by us) 
 Short-term self-drive hire 

Are there any Taxi Gap Insurance restrictions?

  The net invoice selling price must not exceed £150,000
 The incident leading to the total loss must occur within the territorial limits and during the period of insurance 

  The maximum the insurer will pay for any one claim will not exceed the amount shown in your policy schedule
 If you sell your vehicle and have not made a claim under this insurance, you may transfer the remaining cover to the new vehicle, subject to our agreement. Where the purchase price of the replacement vehicle is greater than the purchase price of the original vehicle, an additional premium may be required. Cover will not include any re-financing 

Which type of taxi gap insurance do I need?

Taxi Gap insurance comes in three levels of cover

  1. Return to invoice

Return to invoice taxi Gap insurance pays the difference (Gap) between your car insurer’s maximum or ‘total loss payment’ and the amount you paid for your car.

Riviera insurance offers Return to invoice Gap insurance. Contact us for a quote using our handy contact form.

 

  1. Return to value

Return to value taxi gap insurance pays the difference between your insurer’s maximum payment and the car’s value when it was new.

This particular taxi Gap Insurance is aimed at car owners who bought their car second hand and is available less than eight years old and has done fewer than 80,000 miles.

Riviera Insurance offers Return to invoice taxi Gap insurance. Contact us for a quote using our handy contact form.

  1. Vehicle replacement cover

Vehicle replacement taxi Gap Insurance pays the difference between the agreed total loss payment and the cost of replacing it with a new car of the same model, make and specifications.

Can I shop around for taxi gap insurance?

Yes! Shopping around for Taxi Gap insurance means you will likely save money as you will have access to a bigger range of products and competitive providers.

Using a specialist broker like Riviera Insurance can help find you the best product at the lowest possible price.

The FCA – Financial Conduct Authority is the regulatory body for the insurance markets actively encourages customers to look at all their GAP insurance options rather than buying directly from the car dealership as dealership prices are often inflated.

Furthermore, taxi gap insurance cannot be purchased on the day the car is sold from a dealer. The car dealers must wait until the fourth day, meaning you will have a gap in insurance coverage.

 However, you are able to buy taxi gap insurance from another provider or insurance broker starting at the point you buy the vehicle, resulting in no gaps in cover.

Join the 1000’s drivers choosing Riviera for their Taxi Gap Cover

Our taxi gap insurance products are suitable for, cars, vans and taxis. 

  • Quote and buy your cover online.
  • Exclusive use of the free Riviera App, so you can access all your essential insurance information at your fingertips.
  • Our claims line operates 24 hours a day, 365 days a year, so we are always here when you need us the most
  • Flexible payment options are available

Big enough to save, small enough to care.

Our staff are empowered to contact insurance companies and underwriters on your behalf, giving a fully personal service across the whole UK with no call centres.

If you are local to Torbay, you can even pop in and see us to arrange your insurance at our high street office on Union Street in Torquay.

Not Just a Taxi Gap Insurance Broker

We also specialise in providing insurance cover for a range of commercial and private risks, including minibus, courier, van, home and insurance and taxi

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