Private Hire Taxi Insurance

What is private hire insurance

Private hire insurance covers professional drivers who carry pre-booked passengers or deliver food and parcels. If you hold a private hire taxi or a PCO licence, it’s a legal requirement to have private hire taxi insurance. It financially protects your vehicle if you’re involved in accidents on the road, covering incidents involving passengers or members of the public while you’re working.

What does private hire taxi insurance cover?

You can cover your taxi or minicab on a third-party, third-party fire and theft, or comprehensive basis. This works in the same way as private car insurance.

Below is a breakdown of what each cover includes:

Third-party

Choose third-party cover for protection in cases where you’re involved in an accident and you’re at fault for causing damage to a third-party vehicle, person, or property. It also helps protect you if passengers are injured. It does not cover for fire damage to your vehicle, theft of your vehicle or cover any damage to your own vehicle or compensation for injuries you may sustain.

Third-party, Fire and Theft cover

Covers the above described third-party cover and if your car is stolen or is damaged by fire.

Comprehensive cover

Comprehensive insurance covers you for the above described third-party, fire and theft cover. It also provides cover for damage to your vehicle and compensation for injuries you may sustain whether or not you are at fault.

Public liability insurance

Public liability is also important if you’re a taxi driver, as it offers protection in scenarios where an accident or damage has occurred and a member of the public makes a claim against you. This insurance could be crucial in providing financial or legal assistance in cases in which you have to defend yourself in court or in the event you are pursuing compensation from a successful claim. The good news is public liability protection typically comes as standard with private hire insurance.

Policy limits and exclusions may apply, please see the policy wording for full terms and conditions

Who needs private hire insurance?

Any taxi drivers with a private hire taxi badge require this cover, whether issued by your local authority or the Public Carriage Office (PCO) in London. This also includes drivers of Uber vehicles.

How long will my private hire insurance policy last

We know things can change, and how long you’ll require private hire taxi insurance may vary. That’s why we offer monthly, quarterly, bi-annual and annual cover to give you the flexibility you need.

Who can get private hire taxi insurance?

ChoiceQuote can cover private hire drivers if you:

• Drive a private hire vehicle, including a saloon, MPV, minicab
• Are aged between 23 & 75
• Hold a full UK driving licence
• Hold a private hire taxi badge

Naturally, the more time you spend on the road, the greater your chance of picking up a motoring conviction, such as speeding offences or accidents. But ChoiceQuote has access to insurers who can also offer cover for a range of risks, including:

• Individuals with motoring convictions
• Anyone who has only recently gained their private hire taxi badge

Choose ChoiceQuote, and you can carry out your job, safe in the knowledge that your insurance is there should you need it.

What is the difference between public and private hire insurance?

Private hire drivers only offer pre-booked services. This allows you to pick up passengers who’ve already booked their journey, unlike passengers who hail a cab on the street.

Public hire drivers, on the other hand, can only pick up fares off the street. They can’t pick up pre-bookings. These types of taxis typically include those at railway stations and London black cabs, for example. Unsure what type of taxi insurance you need? Give us a call, and we’ll happily point you in the right direction.

How much does private hire insurance cost?

Prices do vary, and the amount you pay for your policy will depend on several factors, including:

• Your age
• The type of vehicle you drive
• Where you live
• Driving experience
• How long you’ve held a taxi badge
• The length of your no-claims bonus
• If you’ve any motoring convictions

How can I save money on private hire insurance?

There are various things you can do to help bring down the cost of insurance, including:

• Paying annually – If you can afford a lump sum every year, many insurance providers will offer you a cheaper rate than if you were to pay monthly.
• Making your vehicle more secure – Is your vehicle fitted with an alarm and central locking? If so, you may get a cheaper price for your insurance. Providers will see you as a lower risk as there is less chance of theft.
• Installing telematics – Installing telematics – including cameras – could also reduce costs. That’s because these devices can show who is at fault in the event of a claim, speeding up the process for insurance companies.
• Annual policies – shorter policies are usually more expensive, so consider taking out an annual policy.

Why choose ChoiceQuote? 

At ChoiceQuote, we’ve helped taxi drivers find insurance for over 25 years. We do this by working with a panel of reputable insurance providers to help find private hire insurance suitable to your needs.

Repayment plans are also available, so you can spread the cost of insurance if you can’t afford to pay in one go.

Give us a call, and speak to our friendly UK-based customer service team for further help. We’re on hand to answer your questions and can get you insured in minutes. Get a quote now.

Frequently Asked Questions