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Guide To Fleet Taxi Insurance & Private Hire Fleet

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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July 2023

Are you searching for a comprehensive taxi fleet insurance policy? If you have a fleet of minibuses, black cabs, minicabs or a mix of vehicles, you will need a policy to protect all your vehicles. Going the fleet route will potentially provide savings and at the same time lower your admin costs by having only one policy as opposed to multiple policies.  

MultiQuoteTime have partnered with Quotezone who provide a simple form which once completed is submitted to a specialist panel of brokers. The panel can provide multiple quotes from UK brokers that deal exclusively in providing cover for private hire or taxi fleets.

taxi fleet insurance uk

Private Hire Fleet Insurance

Comparison quotes are available for both traditional taxi fleet insurance, that you can hail from the side of the road and private hire insurance vehicles that must be prebooked. 

The Main Benefits of Taxi Fleet Insurance

Save time, as a business owner, saving time is always a priority. One of the benefits of taxi fleet Insurance is the ease of setup and management when you compare it to insuring each vehicle individually.  Taxi Fleet Insurance should work out to be cheaper, as most brokers will offer discounts as you add additional vehicles. However, it is always prudent to compare a motor fleet policy with the costs of insuring vehicles on an individual basis. 

Is A Fleet Policy The Best Option?

If you have a small fleet of taxi vehicles or private hire vehicles, it is worth considering using regular taxi insurance, as the number increase the fleet route should work more convenient and cheaper. As such, it is worth comparing both options if you are operating a small fleet.

Taxi Fleet Insurance Can Include:

  • Cover for 3 + Taxi vehicles
  • Mixed fleet, example public hire black cabs and private hire vehicles
  • Third Party Only, TPFT and Comprehensive options available
  • Any driver fleet policy, conditions will apply
  • Tailored polices, the panel can tailor the policy yo your business requirements
  • Monthly taxi insurance payments to help spread the cost.

Steps to Lower your Taxi Fleet Insurance Premium

  • Annual Payment of Premium. Pay your premium up front rather than making your payments on a monthly basis.
  • Only Employ Safe Drivers. Be selective when choosing your drivers,  If possible select divers with at least 3 years driving experience and a clean driving record. Young drivers under 25 are seen as a higher risk than over 25, so age should also be taken into consideration when hiring new drivers.
  • Compare The Market. Get quotes from different providers This simple step will enable you to compare quotes easily, and make an informed decision.
  • Following Accident Reporting Instructions. Report all accidents that involve a third party immediately. Failure to do so by thinking that no further action will be taken by the third party and can easily result in unforeseen costs in the form of a later claim. The claim at that stage may include costs for hiring a car and other items that could have been excluded had you been quick to inform your insurance provider. The end result is a higher claim resulting in a larger increase in your annual premium.

Levels Of Cover Available

  • Comprehensive  - This type of cover will provide protection for all types of accidents, and is highly recommended, as it can enable you to operate your business with full peace of mind.
  • Third Party Only Plus Fire and Theft (TP&FT)- TPO cover plus cover if your fleet vehicles are damaged by fire or stolen.
  • Third Party Only (TPO) - This is the legal minimum level of cover required to drive in the UK. The cover payouts to the third party only and you will have to pay out for any damage to your vehicles. 

Additional Cover Options 

A minimum of third party road risk insurance and employers liability insurance if you have employees are two forms of insurance required by law. Additional cover can be added to build a more comprehensive policy. A good example is taxi public liability insurance. It is viewed by many as essential when working with the public, and you may find some insurance companies will have this included as part of their base package.  

For completeness, we have listed below some of the more common additional cover elements that can be added in to your policy. 

  • Breakdown Assistance.  Taxi breakdown cover is recommended for all taxi fleets and can easily be included as part of your taxi fleet insurance
  • Legal Expenses : Claim back legal expenses if you need legal representation.
  • Public liability: Public liability Insurance which will protect you from any claims made by members of the public including passengers against your business.
  • Driver Assault Cover. Cover for unprovoked attacks
  • Personal Contents Cover : This cover is aimed at cover for your personal items from theft, fire and dame. The cover will have an upper limit, typically in the range of  £250  - £500
  • Taxi Business Office Insurance.  Insurance for your office and buildings 

How Much Does Taxi Fleet Insurance Cost?

The fleet cost will depend on a number of factors that include the number of taxis and the value of the taxis in the fleet. In addition, the history of the taxi fleet drivers will also play an import role. If you can then provide safe, secure parking for the taxi fleet, this will reduce the overall cost further. Another factor that you have little control over is the fleet postcode. Some postcodes have a higher criminal rate and this will be factoring into the cost calculation.

Is Taxi Fleet Insurance The Best Option For 2 or 3 Minicabs?

In most cases, cost savings become more significant as the fleet size increases. For those that are starting a new venture with 2 or 3 private hire or minicab vehicles, it is always sensible to compare a fleet policy against unsure the vehicles on separate polices. 

Compare Taxi Fleet Insurance Quotes Today

To save money on anything, you need to do some upfront research and compare all the available options. The quote system can help you on your journey by providing you with multiple quotes that are tailored to your taxi or private hire business requirements. Get started by clicking the GET A QUOTE button below.

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