Search and compare cheap quotes from top taxi insurance providers today!
Getting your taxi insured is often much more difficult than it needs to be. Quote the Market is a price comparison site that puts the power back in the drivers hands, so you are free to make the choice you want.
Why do I need Taxi Insurance
All vehicles on the road need insurance by law, and taxis are no different. Taxi insurance is designed to protect both you and your car, but also your passengers when driving the car for commercial use.
Why is taxi Insurance so expensive?
Due to the nature of the job, taxi drivers tend to cover a lot more miles than a standard driver. They also do so in much more congested times. Both these factors increase your risk of being involved in an accident, therefore increasing the overall premium price.
Taxis are also likely to be larger than standard cars, which puts them in a different, more expensive car insurance group, especially if you drive a minibus or a Multi-Person Vehicle (MPV). The higher the insurance group your taxi is in the higher the insurance costs.
What We Need From You?
To apply for a quote all we need is:
Some information about you
Basic driver details such as name, age, type of license and years on the road
Some information about your vehicle
Details such as vehicle type, model, modifications and any security measures installed
Some information about your policy
Details about the cover that you need and any no claims bonuses you might already have
How can I reduce my taxi insurance cost?
Your taxi insurance premiums depends on the type of service you want to offer. Driving a top of the line Mercedes-AMG GT for an exclusive high end private hire is going to be more costly to insure than a Prius for your Uber service. But even so, there are other ways to reduce your premium price such as:
Shopping around- There are a lot of taxi insurers that offer different levels of service. Shop around and find the best deal to suit your needs.
Build a clean record- Insurers offer considerable discounts to drivers who are able to stay claim free, sometimes up to 30% off!
Security measures- Installing CCTV, trackers or any other security device can help reduce the overall cost of your premium.
Choose the right car- When deciding which car to get, it is important to know that the smaller the car is, the cheaper the insurance will be.
Types of Taxi Insurance Cover
Third Party Only
Third Party insurance is the legal minimum. This means you’re covered if you have an accident causing damage or injury to any other person, vehicle, animal or property. It doesn’t cover any other costs like repair to your own vehicle.
Third Party, Fire and Theft
In addition to the Third Party insurance features, this also covers repairs or replacement if your car is stolen or set on fire.
Comprehensive
This is highest level of cover (so includes third party, fire and theft)and it’s the only insurance type that covers you if you damage your own car, even if the accident was your fault.
Additional cover to consider alongside Taxi insurance
Provides third party cover when driving other vehicles. It is important to make sure that the vehicle you are driving under this type of extension is fully insured by a third party.
Claims Assistance is designed to sit alongside your main insurance policy and offers financial protection in the event of either having to take legal action against another motorist or having to defend yourself in a dispute. It is important to note that you will only typically be covered if you have a greater than a 50% chance of being successful in any claim made.
Covers the cost of replacing personal belongings if they are stolen from your vehicle, the levels of cover vary between providers and it is always a good idea to read the providers policy wording.
Our Approach
Quote The Market works just like a real price comparison website, so the days of sign up forms and endless call backs are over! With Quote the Market you will be able to compare taxi insurance prices on our site, and find the best deals for you.
At Quote the Market you can:
View your quote online- we offer genuine price comparison for taxi insurance! We don’t just capture customer details and sell them on to brokers.
Purchase certain policies online- In some cases you won’t even need to contact a broker, all your policy can be done online.
Wide panel of insurers- this gives you the potential to cover all types of circumstances, including young taxi drivers and drivers with previous convictions.
Customer gets to choose who contacts them, if anyone at all.
Frequently Asked Question
Taxis are public hire vehicles and need to be licensed to be able to pick people up from the road on the go (when you wave a black cab down).
Private hire vehicles are only licensed to collect pre booked journeys (like Uber and Ola) and are not allowed to pick up customers from the side of the road
Ubers are seen as private hire vehicles (PHV) so their license is slightly different to a regular taxi cover. You can find out more about the difference in the question above.
To become a taxi drivers you must be driving for at least 12 moths in the UK and 3 years in London.