Many insurers will cover two or more taxis under their fleet insurance, but the actual number of taxis needed to qualify varies between insurance companies. As such smaller taxis firms will need to check out insurer's legibility criteria to see whether they can apply.



Most insurers are flexible with the variations of taxi, minicab, MPV, minibuses or private hire vehicles which can be included on their fleet insurance policies.

Owning several taxis will mean that you have many different drivers. Insurance costs can be reduced if you opt to have named drivers - some insurance companies will also cover spouses to use the vehicle for social purposes at no extra cost. If you have a number of young and inexperienced taxis drivers it may be more cost effective to insure your fleet for all drivers rather than named.

Women drivers are considered to be a lower risk than men by some insurance companies, so it is worth informing them if you have any women driving vehicles for you. The insurance companies will be happy to discuss and advise you as to which will be your best options.

All insurance companies reward careful drivers with a no-claims history. New drivers without a no-claims history are typically welcomed by the insurance companies; many offer introductory low rates for new drivers and business ventures. Check out the online offers to see what is available.

Taxis operating in high risk areas may be able to significantly reduce their insurance premiums if the taxi is kept in a garage when not in use.

Local councils across the UK are helping to protect taxis drivers from assault and damage to their vehicles by installing CCTV type cameras. Although at present the insurance companies are not offering specific discounts for having cameras fitted inside taxis and private hire vehicles should you be unfortunate to be a victim the camera footage may well help with insurance claims.

Although it is nice to have all of the extra perks that many insurance companies offer, those who own older taxis should give consideration as to the pros and cons. Added extras mean high premiums. Ask yourself if you really need the added extras and if they are going to benefit you in any way before deciding which insurer to go with.

Higher excess levels can help reduce the cost of taxi insurance, however bear in mind if you are involved in an accident and make a claim the more you will have to pay.

Most insurance companies realise that paying for insurance of any type can be quite a large outlay. Many offer payment options for a small additional charge.

With the number of different options available getting the right taxi insurance is a relatively painless process. It is worth remembering that it is a criminal offence not to have taxi insurance which meets at least the minimum requirements, typically this is Third Party Only insurance.