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Find the Right Taxi Fleet Policy for Your Business

What is fleet taxi insurance?

Taxi or minicab fleet insurance is a specialist insurance designed for taxi business owners. It covers multiple taxis under one single policy. This simplifies the process of insuring all vehicles in a taxi fleet and streamlines business management.

Benefits of taxi fleet insurance

Cost saving

If you operate two or more vehicles in your fleet, you could lower costs. Insurers often give discounts for insuring multiple vehicles at once.

Flexibility

These policies typically offer flexibility in terms of vehicles and drivers that are covered. For example, a fleet can consist of cars only, a mix of cars and vans, or other vehicle types. You could take out an any driver or named drivers policy, regardless of driver age or driving experience. Its also possible to adjust your cover as your needs change.

Simplified administration

You wont need to take out individual policies for each vehicle. Your business management is made much simpler with one policy and one renewal date.

Choice of coverage

You can choose the level of cover you want for your fleet. This can range from third party only to comprehensive cover. Youll also have the option to add additional protection for your fleet, like breakdown cover or windscreen repair.

Who needs minicab fleet insurance?

This cover is suitable for most taxi or cab fleet owners or operators.

Taxi operators with two or more vehicles in their fleet.
Businesses running public hire or private hire taxis.

Taxi firms employing multiple drivers.
Chauffeur services.

Taxi fleet operators wanting to simplify business operations and reduce costs.

Three regulatory and operational topics are worth getting right early. Taxi fleets often involve higher-rated commercial use and, for some larger PSV-classed vehicles, an Operator’s Licence may apply. The HSE’s INDG382 work-related driving guidance applies in full to taxi drivers, so a documented driver risk-management trail matters. And when an incident happens, a tight claims process from the scene onwards protects the fleet from disputed-liability outcomes.

What does fleet taxi insurance cover?

That depends on the level of cover youve chosen. Fleet insurance comes in three core levels with add-ons as an option.

Core cover options

Third party only. This covers injury or property damage to others, but not your fleet or your drivers.
Third party, fire, and theft. Offers third party cover, as well as loss or damage to your vehicles due to fire or theft.
Comprehensive cover. This is the highest level of coverage and typically covers third party liabilities and damage to your vehicles. Specific features and limitations can vary between policies.

Additional coverage

Comprehensive insurance usually offers broad protection against most major risks facing your fleet. If youve opted for third party only, you may want to enhance your coverage with additional add-ons like:

Public liability insurance
Employers liability insurance
Legal expenses
Breakdown cover
Windscreen cover
No claims discount protection
Courtesy vehicles

How much does taxi fleet insurance cost?

Taxi fleet insurances average cost depends on many factors. These are unique to your business, which is why costs vary. If you want to know how much this insurance will cost you, we recommend getting quotes from multiple insurance providers. Theyll use the information you provide and offer quotes relevant to your needs.

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What impacts the cost of taxi fleet insurance?

Number of taxis

The more vehicles you add to your policy, the more youll pay for coverage. However, bulk discounts may apply for large fleets.

Vehicle types and their values

High-value vehicles will cost more to insure. Insurers use standardised insurance groups to determine fair premiums.

Driver profiles

The age, experience, and driving history of your drivers can influence insurance costs. Younger drivers under the age of 25 tend to pay more. This is due to their perceived higher risk.

Level of cover and optional extras

Choosing comprehensive coverage or adding extras will usually increase your premiums.

Operating area

Where your business is located and the areas you operate in also impact insurance costs. Thats because some areas are riskier than others. Things like crime and road accident rates matter.

Claims history

Maintaining a claims-free history can lead to discounted premiums. Every time you claim, youll typically be charged more because your risk profile increases.

Business use

The type of work your taxis do can affect insurance costs. For instance, late-night services or school contracts may be considered higher-risk jobs, and you might be charged more.

Annual mileage

The more time your taxis spend on the road, the more theyre exposed to risks. So the higher your annual mileage is, the more expensive your insurance will likely be.

Vehicle security features

Increasing your vehicles security can lead to discounts. This could involve parking them in a safer location overnight.

Excess amount

Increasing the amount you pay towards a claim can reduce premiums. However, it means youll pay more when you make a claim.

How can I get a taxi fleet insurance quote?

You can easily get a quote online by filling in the form on our website. Well share your needs with a wide range of reputable insurers who will contact you with tailored quotes. Let us do the hard work for you and help you source multiple quotes to compare.

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Fleet Taxi Insurance FAQs

How can I find the cheapest taxi fleet insurance deal?

It can be important to find cheap taxi fleet insurance if you have a large fleet with high-value vehicles. And there are ways to keep costs down. For instance, increasing vehicle security, parking in safe locations when not in use, and choosing experienced drivers can reduce your risk. The higher your risk profile, the more youll pay for insurance. Maintaining a claims-free history usually also leads to discounted premiums.

Can I insure a fleet with just 2 cars?

Yes. Many insurers offer insurance for 2 cars. Others may require a minimum of 5. Thats why its good to shop around for insurance deals that cater to your unique needs.

What types of taxis can be covered?

This insurance can cover a wide variety of vehicle types and classes under one policy. Thats one of the key advantages of this cover. Vehicles typically covered are MPVs, minibuses, coaches, saloons, hatchbacks, and estate cars. Most insurers also offer coverage for electric cars and hybrid vehicles. Highly modified vehicles like stretch limousines or classic cars may only be covered under specialist policies.

Can I insure the vehicles I own and those owned by drivers?

Yes. You can insure a fleet with multiple owners under a owner-driver scheme or mixed ownership fleet policy. You must disclose all ownership information to your insurer, and eligibility requirements may apply.

Whats the difference between public hire and private hire insurance?

Public hire is for taxis that are hailed or use taxi ranks. Private hire insurance covers taxis that accept pre-booked fares. Its important to know the difference because it can affect the type of insurance you need.

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