Taxi Insurance – Your Questions Answered
What is Taxi Insurance?
Taxi insurance is a specialist policy for people who carry passengers for ‘hire and reward‘. As a taxi driver, your car is essentially your business, so it’s essential to get the right cover in place at the best price.
Your policy should meet all legal requirements and include public liability cover to ensure you are protected against any claims that could arise as the results of not only accidents but trips or falls disembarking your vehicle. Riviera Insurance can provide you with one insurance solution for all your taxi insurance needs.
To get a quote, fill in our handy contact form here
Can I get Cheap Taxi Insurance?
Often driving a taxi involves covering a lot more miles than your average driver, frequently in built-up areas, either late at night or during busy periods of the day.
All these factors increase the chance of an accident, so UK Taxi insurance will typically cost more than regular car insurance.
Whether you drive a saloon taxi, a hackney carriage, people carrier or a minibus, your taxicab insurance is likely to cost more than it would cost if you were taking out a standard car insurance policy.
However, there are a few things you can do to keep the cost of your insurance down, which means that you could be offered a cheaper insurance quote for your taxi.
- Keep it clean! A taxi driver with few or no points on their driving licence will usually find that they pay less for taxi car insurance than drivers with speeding convictions or other endorsements.
A good driver is seen as safer and less risky to an insurance company and is likely to be offered a much cheaper taxi car insurance policy than someone with points or convictions.
- Keep it healthy. Having your taxicab serviced regularly and well maintained could prevent the risk of mechanical fault or faulty breaks or types which may lead to an accident.
In addition, fewer accidents mean that you are likely to accrue a no claims discount on your policy, meaning you should receive a cheaper taxi insurance quotation.
- Cheaper Taxi: If your taxi is a high-end vehicle, limo or executive hire car, or your taxicab is an import or is modified, you will likely find that your insurance cost goes up. So, by buying a cheaper minicab or saloon car, you may also benefit from cheaper minicab insurance in a lower insurance group for your taxi business.
- Private hire insurance: Private hire insurance tends to cost slightly less than public hire insurance. Black cabs, London taxis and other public hire taxicabs are often based inbuilt up busy city centres with high volumes of traffic. Statistically, these are the locations where accidents and insurance claims occur more frequently.
How much does taxi insurance cost?
When getting quotes for taxicab insurance, you will find that different taxi insurance companies and insurance brokers can give you very different prices. Therefore, it isn’t straightforward to provide an average price for insuring a taxi.
You will receive varying rates and levels of cover because each taxi insurance company factors in so many variables into the cost of your insurance premium. Each taxicab insurance company also uses an entirely different calculation.
Using a specialist UK insurance broker can help you find cheaper taxi insurance. Contact Riviera insurance here.
We understand the calculations used by the insurance companies to create your taxicab quotation and search the market to compare insurance covers to provide you with the best taxi cover at the lowest possible price.
For example, suppose you are a private hire or public hire taxi driver operating in Torbay, South Hams, Exeter, Cornwall, Devon or the Southwest. You will pay a different price to taxi drivers operating in Swindon, Stroud, Cirencester, Gloucester, Oxford, Bath or Bristol.
Likewise, your age, no claims bonus, and keeping your taxi off-road overnight will have to affect how much you pay for taxi car insurance.
Other rating factors include the type of taxi you drive, how old the taxicab is, whether it is an imported taxi or any modifications. Of course, a host of other variables can all impact your taxi car insurance premium, too.
In conclusion, it is almost impossible to answer ‘how much does taxi insurance cost?’ without first getting some taxi insurance quotes.
If you are a taxi diver looking for cheap taxi insurance, it’s a great idea to use a specialist broker to compare taxi insurance quotes.
Riviera Insurance will search the market for you to find the very best taxi car cover at the cheapest possible price.
How can I get cheap taxicab insurance with Riviera Insurance?
Our staff are empowered to contact insurance companies and underwriters on your behalf, giving an entirely personal service across the UK with no call centres.
We take the time to get to know your fleet insurance needs and provide you with the cheapest taxi insurance policy, which the added benefit of optional coverage options is to suit you and your pocket.
Finding cheap public hire or private hire taxi fleet insurance has never been more simple.
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.
What is the difference between a public and private hire taxi?
The main difference between private hire and public hire taxis is that a public hire taxi doesn’t need to be booked in advance, and they are licenced to pick passengers up from the street. In contrast, a private hire taxi needs to be prebooked or called from a taxi booking office.
This is why you will often find public hire taxis waiting in taxi ranks outside train stations, bus stations, airports and other city-centre locations. Private hire taxis cannot use the taxi ranks and cannot be hailed from the street.
What is the difference between Uber Insurance and Private Hire Insurance?
Local authorities license Uber taxi drivers as private hire taxi drivers, so in essence, private hire taxi and Uber taxi insurance is the same thing.
It is important to remember that both Uber taxi drivers and Public hire drivers are not licenced to pick up passengers from the street or use taxi ranks as all journeys carrying passengers must be prebooked.
Is PCO insurance different from taxi insurance?
The Public Carriage Office or PCO is a division of Transport for London responsible for licensing, hackney carriages, black cabs and minicabs in London.
‘PCO insurance’ is simply an abbreviated name given to an insurance policy for London taxicabs and minicabs. In contrast, taxi insurance is relevant to any taxi driver in any part of the UK.
How old do I have to be to be a taxi driver?
Ordinarily, you will need to be at least 25 years old to be taxi driver in the UK and have passed your driving test at least 12 months ago.
Occasionally, drivers aged 23 or 24 can get a taxi car insurance policy, providing that they have held their full UK drivers licence for several years. However, drivers under the age of 25 are high risk and may find getting a cheap taxi insurance policy very difficult.
Would telematics help me get cheap taxi insurance?
Insurance with telematics or black boxes is a specialist type of taxi insurance policy where a ‘black box’ device is fitted to the taxicab or taxi car. It monitors the driver’s driving habits, including speed, breaking. Time of day the taxi is driven- the taxi insurance company then uses this data to increase your Insurance or make your taxi insurance cheaper, depending on how you drive.
Telematics insurance is an excellent option for young or inexperienced drivers looking to get cheaper Insurance. Unfortunately, few taxi insurance companies offer this type of policy to young taxi drivers.
However, if you are new to being a taxi driver, consider taking out a taxi telematics insurance policy for your taxicab. In some cases, it can give you much cheaper taxi insurance.
If you are considering black box or telematics as an option to save you money on taxicab insurance, then contact us here
What can I add to my Taxi Insurance?
Many of the different taxicab insurance companies offer slightly different protections for your taxi, so it is essential to check with your insurance broker exactly what cover you have in place. If you are unsure or need a specific level of cover, please contact us here.
- Public liability cover
- Breakdown cover
- Windscreen cover
- Legal cover
- Gap Insurance for new vehicles
What doesn’t taxi insurance cover?
What taxi insurance doesn’t cover varies across insurance companies. If you need a particular element including in your taxi insurance quotation, it is best to speak to a specialist like Riviera Insurance.
- Taxis are not to be driver by unauthorised drivers
- Taxis are not to be driven by someone under the age of 25 (or under the age of 23, for some policies)
- Involved in an accident that is the result of unsafe driving by the taxi driver, for example driving under the influence of drugs or alcohol
- If the taxi is stolen while the keys have been left inside the taxicab
- Operating outside of the local licencing authority specified in the taxi insurance policy
Which company offers the best taxi insurance?
Join the 1000’s Taxi Drivers choosing Riviera for their insurance
Our taxi insurance products are suitable for private hire taxi insurance and public hire vehicles. We can cover Hackney carriages, black cabs and minibuses, as well as traditional saloon vehicles. More recently, we’ve added Uber drivers insurance to our list of available products.
Working with a large panel of taxi insurance companies, we can quote you on a range of insurance solutions providing as much or as little cover as you need. We can also offer flexible monthly payment terms to help you spread the cost of your insurance cover.
A team of friendly, fully trained advisors can offer you the additional protection of legal expenses cover, public liability, personal accident, breakdown cover, windscreen repair and even employers’ liability cover. We provide one insurance solution for all your taxi insurance needs.
As a Taxi Insurance specialist based in Torquay, Riviera Insurance can also arrange policies for individuals operating as chauffeurs, wedding car, or executive hire drivers and those who have local authority contracts and carry children to school.
- Exclusive taxi insurance rates you can’t find anywhere else in Torquay
- Fully trained insurance specialists who search the market for you
- Online quote and reserve system for taxicab Insurance
- Exclusive use of the free Riviera App, so you can access all your essential insurance information at your fingertips.
- Replacement plated vehicle provided free of charge on any claims which are not your fault.
- Our claims line operates 24 hours a day, 365 days a year, so we are always here when you need us the most
- Flexible monthly payment options are available
- Combine additional optional policies to create one insurance solution
Big enough to save you money, small enough to care.
Our staff are empowered to contact insurance companies and underwriters on your behalf, giving a fully personal service. We operate from a high street office in Torquay, Torbay, where you can pop in and see us arrange your cover, or you can request a call back for a time that suits you.
We take the time to get to know your insurance needs and provide you with the cheapest taxi insurance policy, which the added benefit of optional coverage options is to suit you and your pocket. Finding cheap public hire or private hire insurance has never been more simple.
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.
Safeguarding your public hire, private hire, Uber, Minibus or Public service vehicle with Riviera Insurance couldn’t be more straightforward request a quote here or view our online product range and compare us to One Insurance Solution.
Not Just a Taxi Insurance Broker
We also specialise in providing insurance cover for a range of commercial and private risks, including minibus, courier, van, home, pet and travel insurance, providing one insurance solution for all your needs. If you are purchasing a new taxi car check out our excellent GAP insurance product here.