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Guide to Liverpool Taxi Insurance

By Eamonn Turley
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Eamonn Turley Insurance Expert

Eamonn Turley has a wealth of experience within different insurance sectors. Through hard work and over time, he has gained expertise in digital marketing and user interface design. Elements that are crucial to any successful online business. The key aim is to develop websites that are intuitive, fast to load and provide insurance quotes tailored to your needs.


Expertise: Digital Marketing, Insurance, Home Insurance, Vehicle Insurance, UI Design
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Nov 2023

Driving a taxi in Liverpool can be as profitable venture, but it comes with some level of risk. As a taxi driver, you'll typically spend more hours on the road, drive late nights, and pile up more miles than standard drivers. This makes you prone to damages and requires you to protect yourself, your passengers, and your business through taxi insurance.

Taxi insurance is a specialised insurance that provides coverage for both you and your vehicle for your hire and reward services. This insurance safeguards you, your vehicle, and your business from potential damage or injury claims filed by passengers or the general public.

What are the different types of taxi Insurance in Liverpool?

There are different types of taxi insurance, and they include:

1. Private Hire Insurance

Private hire insurance is designed for drivers who possess licences to transport pre-booked passengers in exchange for payment. Taxi drivers who work for ride-hailing operators like Bolt and Uber fall under this motor insurance category. Other sub-categories under private hire insurance include chauffeur insurance, which is a specialist insurance product for drivers who operate luxury hire and reward services.

2. Public Hire Insurance

Public hire insurance, sometimes called black cab insurance, is essential for drivers who use vehicles licensed as Hackney carriages to carry fee-paying passengers. Unlike private hire taxis, public hire taxis do not require pre-bookings and are authorised to pick up passengers on the street. Some insurance providers may offer minibus insurance under this category, while others may have a specialised insurance product for it.

3. Decommissioned Taxi Insurance

Decommissioned taxi insurance is for drivers who no longer operate their vehicles as taxis. Whether you sold your taxi, retired, or stopped driving the car as a taxi for other reasons, you'll need to inform your insurer when you decommission your taxi, so that they can effect the necessary changes to your policy.

Depending on how you operate your taxi, these insurance types could be sole driver policies (for only the driver), named driver policies (for different people named on the policy, if more than one person operates the cab), or any driver policies (common among private hire companies for employed drivers). There's also the taxi fleet insurance that allows you to cover more than one taxi under the same policy.

More Than One Taxi - Taxi Fleet Insurance?

If you are operating a taxi rank or operate multiple taxis, consider taking out a taxi fleet insurance policy, it should work out cheaper, and it will definitely reduce your administration overheads.  Most if not all taxi fleet insurance providers will also offer generous discounts as you add more taxi cabs to your fleet.

What levels of cover are available in Liverpool?

Liverpool taxi insurance usually has three levels of coverage including:

Comprehensive

Comprehensive cover: This is the highest cover level with all-inclusive protection against damages to your cab, as well as other added benefits that may vary by provider.

Third party Fire and Theft

Third-party fire and theft: As the name implies, this cover level includes all the specified benefits of a third-party-only cover and also offers compensation if your vehicle is stolen or burnt by fire.

Third party

Third-party only: This is the minimum required taxi cover level that pays for only third-party damages but doesn't cover for your taxi's damage.V

What provides Liverpool private hire and taxi insurance??

Most high street insurance agents can provide you with this type of cover, but also check out the specialists providers in this niche. These include Acorn taxi insurance, Bells, Freeways, Westminster, Paton's, Aviva taxi insurance and Haven amongst others.

How does taxi insurance in Liverpool differ from a car insurance policy?

Taxi cover typically carries a higher cost compared to car insurance. This difference in cost stems from the likelihood of increased accident risks, primarily because taxi drivers log more miles on the road than the majority of regular motorists. In addition to the extended mileage, taxi drivers often operate larger vehicles that fall into higher insurance rating categories.

For individuals who work as taxi drivers, standard car insurance is insufficient to ensure adequate protection of yourself, your vehicle, and your passengers. If you engage in hire services, it is essential to secure a suitable annual or monthly taxi insurance policy.

What is the average cost of taxi insurance in Liverpool?

The cost of taxi and private hire insurance varies with providers and depends on factors like the type of policy that you would like, your driving record, the value of your vehicle, and your service area, amongst others. However, you can reduce the cost of your policy through the following ways:

  • Through discounts and bonuses: Certain insurers offer discounts to drivers who meet stipulated conditions. You can also use your no-claims bonus to earn a discount on your taxi policy.
  • Avoid modifications: Vehicles with modifications may increase the cost of your insurance because they make the cab attractive to thieves.
  • Choose a higher excess: Opting for a higher excess can potentially lead to a reduced premium, as it implies that in the case of a legitimate claim, the insurer would be responsible for a smaller payout.
  • Remove unnecessary add-ons: Take a moment to evaluate whether you truly need all the additional features, like breakdown assistance, legal protection, and windscreen coverage. Frequently, you have the choice to eliminate any extras, which can result in cost reductions.

With the right insurance, you're sure to get the best protection for your taxi business.

The table below summaries the range of hire and reward services and the range of taxi vehicles that can be insured with the panel of specialist insurance providers provided by SEOPA 

Taxi typesCover Available
Public hire taxi
Private Taxi
Chauffeur
Taxi Fleets
Minibus and Multi Purpose Vehicles (MPV)
Saloon and estate taxis
Wheelchair Accessible Taxi Vehicles
Hackney Carriage

Which local taxi authorities can I get a quote for?

MultiQuoteTime works in partnership with SEOPA Ltd to provide for our customer base a comprehensive online insurance comparison service. This gives our customer access to a panel of specialist public and PHV insurance providers that can provide cover for all taxi authorities, including the following :

  • Leeds
  • Edinburgh
  • Bristol
  • Sheffield
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