Do public and private hire taxi companies need different insurance?

Yes, public and private hire taxis require different insurance or a combined policy if you have plans to provide both services.

Public taxis are vehicles that can do immediate pickups off the street by being ‘flagged down’ such as black cabs in London. These are licensed by the council to take fares from people on the streets.

Private taxis are vehicles that have to be pre-booked and must pick up from and drop off at prearranged destinations. They cannot be hailed on the streets by the public. These are popular for events or for larger groups that may need a minibus.

There are different levels of risk involved with these types of work which could affect the cost. Private hire tends to be older or more valuable vehicles than public hire so this could impact your policy. However public may be considered higher risk in terms of client base and working hours. The type of insurance will vary in price but other factors such as location and mileage tend to be more influential.

If you are still unsure of the type of insurance you need then speak to a taxi insurance expert about your requirements to make sure you get the correct policy.