How much is Private Hire Taxi Insurance in the UK?

How much is Private Hire Taxi Insurance in the UK?

Depending on your experience, years without claims, convictions, car details or other important information, prices can vary.

Private hire taxi insurance could cost anywhere between £1500 and £3500 per year for comprehensive private hire insurance cover. Prices for shorter term insurance can also be slightly higher due to companies’ admin costs.

At INSHUR, you can spread the cost with flexible monthly payments, or save by paying all in one go.

How can I buy Private Hire Vehicle (PHV) insurance in the UK?

Buy insurance by phone, by broker or online. You’re unable to use your regular insurance policy for carrying passengers or goods.  In order to drive for Uber etc, private hire taxi insurance is a legal must.

Guide to PHV insurance in the UK?

Driving a private hire (PHV) taxi for a living is a fast-growing industry. Since Uber launched in 2009, the number of people operating PHV has exploded. According to, Uber has over three million registered drivers working in 676 cities and states worldwide.

Those considering joining the driver ranks in Britain are asking what it costs to get on the open road. Some costs are obvious – a suitable car, fuel, license, vehicle repairs. However, one cost is not so obvious – at least not until now. The insurance.

Buying insurance

Until 2018, buying PHV insurance meant hours on the phone or in a broker’s office. You had to complete forms, show documents, wait for underwriters. You didn’t know the cost until the quote came back. A driver anxious to get out and get earning could wait extra days or weeks with this creaky, paper-driven process. Fortunately, things have changed. Now there’s INSHUR.

INSHUR – a fast and affordable way to buy FHV. Since November 2018, INSHUR has offered UK drivers a 21 st century alternative to the old system of buying PHV insurance. Instead of wasting time on the phone or in an office, INSHUR works right on your mobile. You don’t speak to anyone. You provide all your details and get a quote in just a few minutes. If you like the offer, your policy can be with you in a few minutes more. It’s the immediate answer to an out-of-date problem.

Types of PHV insurance

No matter how you buy it, you must have PHV insurance. Standard car insurance won’t do. In the UK there are three levels of PHV cover – fully comprehensive (which covers everything), third party (which covers others in an incident, plus your passengers – not you or your car) and third party, fire & theft (third party with your vehicle also being covered if it is stolen or goes up in flames). There is also the Excess. This is compulsory and it is typically £250. You pay this sum as part of any claim you make. You can also opt to pay a Voluntary Excess in the event of a claim – this is usually around £500 – £1,000. Agreeing to a Voluntary Excess will lower your policy cost. Any no-claims-bonus from your standard motorists’ policy cannot be moved to your PHV policy, you must build a new bonus with your PHV cover. Lastly, you may be able to get replacement vehicle cover, which pays for an interim car while your damaged one is fixed. This can be expensive, but if your car’s your breadwinner, it may be worth considering.

The cost of PHV insurance in the UK

Several things affect the price. Driver history is the big one. The worse your history, the more you pay. Policy type, vehicle type, driver age, years of taxi experience and mileage are also considered. A typical PHV driver, over 25 years years of age, with a standard saloon car and a clean history will pay around £1,500 – £3,500 a year for fully comprehensive cover. This figure can rise substantially for new and young drivers or those with spotty history. Often, this cost can be paid on a monthly or quarterly basis instead of all upfront.

If you’re just starting out or your insurance is coming up for renewal, why not give INSHUR a try? Get a quote direct from your phone and be on the road in minutes.

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