Smarter Insurance is a new way to arrange insurance cover for your business. We work with leading insurance providers to find you deals that aren’t available elsewhere, with online quotes 24 hours a day.

Taxi business insurance

This type of insurance is designed to cover you against the particular kinds of risk you face if you drive passengers for hire and reward. As a minimum, it covers you against the risks you pose to other road users by carrying out this type of work. You can also obtain insurance to cover the risk of accident or damage to your own vehicle and members of the public.

There are two main categories of taxi business insurance. Private hire taxi insurance is for taxi drivers operating from a designated taxi rank, or who are booked in advance, and it can include larger cabs and MPVs. These taxis can’t be hailed on the street. Public hire taxi insurance is for those drivers who can be booked in advance, at a designated taxi rank, or hailed on the street (these are also known as ‘Hackney Carriages’). We can also advise you on how telematics equipment can keep down the costs of your cover.

Or you might be a business owner who manages a fleet of vehicles and a taxi base. If you have more than three vehicles, Taxi Fleet Insurance packages may be better suited to your needs. We offer Taxi Fleet Insurance on either an annual or a monthly basis. These will cover your entire fleet of vehicles, including any owner-driver schemes.

Q: How much does this type of insurance cost?

Factors that will affect the price of individual taxi insurance include the type of vehicle, your age, any modifications to your vehicle, the area in which you operate, whether you want to add other named drivers, the level of cover that you require, where you keep your vehicle over night and your mileage. We can negotiate stand-alone private hire taxi insurance for you on a third-party, third party plus fire and theft, or on a comprehensive basis. This will cover you for the risk you pose to other drivers on the road. If you choose comprehensive cover, your policy will cover your own vehicle in the same circumstances, and the price will reflect the level of cover you choose.

If you are looking for insurance for a company, the price of Taxi Fleet Insurance and Taxi Base Insurance will depend on your circumstances and the features that you want to include. You can also opt for an ‘any driver policy’ which will cover all drivers over a certain age (typically 25). There is no ‘one size fits all’ solution for all taxi businesses, and we will take into account your preferences.

Q: Why is it important to have this insurance?

A: You are required to have this type of insurance because your standard car insurance will not cover you for the types of risk you face in your work as a taxi driver picking up passengers and delivering them for reward.

Q: What does taxi business insurance cover?

A: Whether you are looking for individual cover or a policy for your company, you will have a number of options to choose from.

As an individual, you can choose between comprehensive, third party fire and theft or third party only cover, and choose the level of voluntary excess you will pay. If you have a no claims bonus based on private hire, public hire, company car experience or as a private car user this can be taken into account. For individual taxi insurance, you will need to specify whether you are working on a public hire or private hire basis. You can opt to include Public Liability Insurance to cover the risk that you are involved in an incident involving members of the public or a passenger. Legal Cover and Personal Accident Cover can also be included, and instalment plans are often available.

At Smarter Insurance, we work with insurers that are able to include a combined fleet of private hire and public hire vehicles, MPVs and coaches, inexperienced drivers and newly qualified badge holders. We can provide Taxi Fleet Insurance cover for drivers over 25 to whom you rent vehicles.

We can also arrange Taxi Base Insurance for your premises, including Public Liability, Employers’ Liability and internal risks cover (for example, cover for computers and telephony equipment, drinks machines and other valuable items on-site).

Q: Are there any optional extras?

A: There are number of additional features and optional extras to choose from, and depending on the insurance provider, you may be able to include legal assistance, windscreen cover, Public Liability Insurance and/or breakdown cover, as part of a great-value package.

Why choose Smarter Insurance?

Smarter Insurance specialises in the best-value insurance for taxi businesses. We provide quick and competitive quotes for businesses, online and 24 hours a day, and strive to be your best taxi insurance company.

For immediate taxi business insurance, speak to our friendly team on 03334 000610, or fill in our online form for a quote today.