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Taxi Insurance

Your Trusted Taxi Insurance Professionals

Being a taxi driver in New Zealand is an enriching, albeit challenging profession. Just as you keep the safety of your passengers at the heart of your operations, your taxi’s protection should be a top priority. This is where taxi insurance comes into play. You can contact us at Gerrards Insurance Brokers to get a quick quote. Whether you are an individual driver or manage a large fleet, we’re here to serve your needs. For a deeper understanding, read on and arm yourself with essential information on taxi insurance.

Why Do Taxi Drivers Need Insurance?

Just as seat belts and airbags offer protection inside the car, insurance provides an external shield against unexpected incidents. It is a legal and financial safeguard against the wide range of risks taxi drivers face on a daily basis.

Essential Insurance Covers for Taxi Driving

Business Vehicle Insurance

Protects vehicles used for taxi. It covers accidents, damages, and injuries related to the vehicle while it’s being used for taxi driving and personal activities.

Best For
  • Repair costs
  • Third party damages
  • Injuries 

Loss of use

Coverage that helps when your vehicle is unusable due to an accident. It covers the cost of a temporary replacement vehicle, so you can still drive even whilst your vehicle is out of action. 


Best For
  • Temporary vehicle
  • Reimbursement expenses
  • Accident downtime

Taxi Driving Business Claims Examples

To understand the significance of these covers, consider the following examples.

Crash into another car

With Commercial Vehicle Insurance, you’re can be covered for the cost of repairs to both vehicles, and potentially for any legal costs arising from the incident. Loss of use could pay for you to hire a rental car whilst yours is fixed.

Car scrapes a building whilst reversing

The insurance can cover the cost of repair to your vehicle and the building, shielding you from hefty out-of-pocket expenses.

Car smashed into by a third party

If a third party causes damage to your taxi, your commercial vehicle insurance would cover repair costs.

Car is stolen

In case of vehicle theft, insurance can cover the market value of the car, mitigating a major financial loss.

Damage due to extreme weather

Whether it’s a hailstorm or heavy rainfall damaging your vehicle, insurance comes to your rescue.

What to Watch Out For With Rideshare Insurance

With Taxi Insurance, there are some pitfalls to avoid:

Insuring the vehicle through a personal insurance policy

Personal insurance doesn’t cover Taxi usage. Hence, commercial vehicle insurance is compulsory for taxi driving.

Under-insuring your taxi

Ensure the sum insured aligns with the market value of your vehicle. Under-insuring may result in a significant loss

Not knowing your excess

It’s essential to know your policy’s excess (the amount you have to pay when making a claim). Ensure it’s an amount you can comfortably afford.

Not declaring previous claims or accidents

This can lead to a decline in claim, cancellation of insurance and difficulty getting insurance in the future.

Ignoring maintenance

Regular vehicle maintenance is vital. If an incident occurs due to poor maintenance, the insurance claim might be rejected.

Not updating changes

Changes in drivers, location or vehicle usage should be promptly updated in your policy. Failing to do so can lead to complications during claims

Not reading the policy documents

Ensure you understand all terms, conditions, and exclusions in your policy to avoid nasty surprises at claim time

How Much Does Taxi Insurance Cost?

The cost of taxi insurance can range between $1,000 and $3,000 annually, influenced by several factors:

Sum Insured

A higher sum insured of the vehicle results in a higher insurance premium.


Taxi services in high-risk or busy areas often have higher insurance costs.


The age, driving experience, and history of the drivers can impact the premium.

Claims History

A clean claims record can help reduce your insurance costs.

Level and Type of Cover

The more comprehensive your cover, the higher the premium.

Claiming on Your Taxi Insurance

At Gerrards Insurance Brokers, we take the stress out of the claims process. Our team of experts is ready to handle your claims, guiding you at each step to ensure a smooth, hassle-free experience.

Buying Taxi Insurance

We, at Gerrards Insurance Brokers, strive to provide you with the right cover at the best deal. With our industry expertise and commitment, we ensure a tailored policy that perfectly suits your needs.


In the unpredictable world of taxi driving, insurance acts as your safety net, cushioning you against potential financial blows. It’s a small investment today that can save you from substantial expenses tomorrow. Whether you’re a seasoned taxi business owner or just starting your journey as a driver, Gerrards Insurance Brokers are here to navigate you through your insurance journey, ensuring you hit the road with confidence each day.

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