As a private hire taxi driver, vehicle insurance is one of your biggest expenses. With rising costs, it’s no surprise that many drivers are looking for ways to get a cheaper taxi insurance quote.
While price is important, it’s also important that you're getting the right level of cover - cutting corners on insurance could cost you more in the long run.
In this guide, we’ll explore some smart ways to help keep your insurance costs as low as possible.
1. Improve Your Driving Record
Your driving history plays a big role in how much you pay for taxi insurance. The safer you drive, the lower your premiums are likely to be. Here’s how you can keep costs down:
✅ Avoid accidents and claims – A clean claims history can help you qualify for No Claims Discounts.
✅ Follow speed limits – Speeding violations can increase your premium.
✅ Maintain a high driver rating – If you drive for platforms like Uber, good passenger ratings may work in your favour.
INSHUR will take your driving score into account when calculating your renewal price - so good driving habits could pay off in the long run.
2. Choose the Right Cover for Your Needs
Like standard insurance, taxi insurance comes in different levels, and choosing the right one for your circumstances can help you save. At INSHUR we offer:
🚖 Third Party Only – The minimum legal requirement, but it may not always be the cheapest option.
🚖 Comprehensive – Offers better protection, including cover for your own vehicle, and can sometimes be more cost-effective than lower-tier policies.
🚖 Comprehensive Plus – Includes extras like public liability insurance and replacement vehicle cover, which could save you money in the event of a claim.
Compare what’s included in each policy and weigh up whether paying slightly more upfront could save you in the long run.
3. Pay Annually If You Can
If you can afford to pay for your policy in one go, you could reduce the overall cost. While it’s a bigger upfront expense, it can often work out cheaper in the long term. You can spread the cost with monthly instalments - this is more cost-effective than 30-day policies if you plan to drive long-term.
4. Keep Your Vehicle Secure
Where you park your taxi when it's not in use can impact your insurance price. If possible:
🔒 Park in a garage or private driveway rather than on the street.
🔒 Install a dashcam – Some insurers offer discounts for drivers with dashcams, check with your insurer.
🔒 Use security features like immobilisers and alarms to reduce the risk of theft.
Simple changes to how and where you store your vehicle can help reduce the cost of a claim if the worst happens, as costly claims can increase your policy price at renewal.
5. Compare Prices, But Look Beyond Cost
It’s good practice to compare insurance providers, but don’t just go for the cheapest policy. Some lower-cost providers may have hidden fees, complicated claims processes, or limited coverage. Instead, focus on value - what you’re getting for your money.
At INSHUR, we offer 30-day and annual policies, coverage tailored for Uber drivers, and a fully online quote process. Plus, we’re backed by major UK partners like Uber, with protection that works for private hire taxi drivers.
Final Thoughts
Getting a cheaper taxi insurance quote shouldn’t just be about finding the lowest price - it’s about making smart choices that help you save over time as a private hire driver. Safe driving, choosing the right cover, and securing your vehicle can all help reduce your costs while keeping you protected.
If you’re looking for personalised coverage from an online private hire taxi insurance provider, why not get a quote today and see what INSHUR can offer?
