Top tips for taxi insurance

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Taxi drivers pay more for their insurance than your regular customer does, and that’s a fact. However unfair this may seem, there are reasons for it – and ways to keep your costs right down.

Firstly, you need to understand why you’re paying more. Primarily, it’s because you’re clocking up substantially more mileage than your average driver – or at least you are if your business is successful! More time on the road means you’re exposed to more hazards, and the increased likelihood of an accident, more than an average domestic driver might be.

However, it may also be due to the size of your private hire vehicle. We understand that the more seats you have, the more passengers you can take, and the greater your income will be. Unfortunately, no matter whether you own the larger vehicle privately or for hire, your insurance for a big car is going to be more expensive.

How can you save money? You could go for a smaller vehicle, or something which an insurance company might view as less valuable. They grade all cars from 0 to 50, in terms of risk. Visit to see the cars in each risk group. Sporty cars, modified cars and high value vehicles are desirable to thieves, and costly to repair, so you’ll pay a lot of money to insure one of those. Find yourself a practical car which falls into one of the lower risk groups and your premiums will come down.

Next, have a look at the type of cover you’ve got. Is it really the correct one for you? Private Hire taxi insurance comes in three grades: “policy only”, “named driver”, and “any driver”. “Policy only” means only people named on the certificate can use the vehicle. If you start adding more names to the policy, expect the price to go up. “Named Driver” means only a single named person is going to be operating the vehicle. “Any Driver” means exactly that – anyone can drive it, and the price reflects that. Expect to pay more money for that kind of cover.

Whatever your taxi insurance requirements, give Total Taxi Insurance a call, and let’s talk about how we can get the best value cheap taxi insurance quotes for you.