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Taxi Insurance
Taxi insurance is a specialised commercial vehicle insurance designed for vehicles used in cab and taxi operations across India — including permit cabs, tourist taxis, app-based cabs (Ola, Uber, Rapido), station taxis, city taxis, and intercity taxi services. Whether you own a single cab or manage a fleet of taxis, taxi/cab insurance protects your vehicle, passengers, and income from financial loss caused by accidents, theft, fire, and third-party liabilities.
At PolicyLegit, we help taxi owners across India compare cab insurance quotes, find the lowest taxi insurance price, and get instant online policy in minutes. We cover all popular taxi models used in India — Maruti Suzuki Dzire Tour, Toyota Innova Crysta, Honda Amaze, Hyundai Xcent, Tata Zest, Maruti Ertiga, and more.
We also offer short-term taxi insurance for 3 months, and months - ideal for seasonal operations, short contracts, or temporary permit holders.
Commercial Vehicle Insurance Plans starting#1
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Claim Benefits
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
Addons
- IMT 23Helps pay for repairing, replacing, or repainting damaged parts like lamps, tyres, tubes, mudguards, bonnet, side parts, bumper, and headlights after an accident.
- Zero DepreciationAlso called Bumper-to-Bumper or Nil Depreciation, this gets you the full price for replacing a damaged part (excluding tyres and batteries) without any decrease in value.
- Electrical AccessoriesCovers damage to additionally-fitted electrical accessories like fog lights, music system etc.
#1 Insurance premiums shown are indicative and vary by vehicle type, age, city, add-ons, and insurer. Third-party premiums are IRDAI-regulated and uniform across all insurers. Policylegit does not endorse any specific insurer or product. Plans shown are from Policylegit's insurer partners. For the complete list of IRDAI-registered insurers, visit www.irdai.gov.in
Save Up To 85%* on
Vehicle Insurance
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#1 Insurance premiums shown are indicative and vary by vehicle type, age, city, add-ons, and insurer. Third-party premiums are IRDAI-regulated and uniform across all insurers. Policylegit does not endorse any specific insurer or product. Plans shown are from Policylegit's insurer partners. For the complete list of IRDAI-registered insurers, visit www.irdai.gov.in
Commercial Vehicle Insurance
Types of Vehicles insured in Commercial Vehicle Insurance Policy
Commercial vehicles are an essential mode of transportation and are heavy-duty vehicles used daily to carry out tasks. Some of the most common commercial vehicles are:
These commercial vehicles transport goods within the city/cities and from one state to another, as well as for intercity passenger tours and travel.
Taxi & Related Models – Insurance Price List
taxi/cab insurance is specialised coverage for vehicles used in taxi or cab services. vehicle insurance includes liability third party and comprehensive coverage, protecting against accidents, damage, and theft. Additional features like uninsured motorist coverage, medical payments, and use endorsement cater to business-related risks. This type of insurance accounts for the higher usage and risks associated with vehicles, ensuring the safety of drivers, passengers.
Taxis are essential for urban transport, intercity commuting, ride-hailing services, and private hire operations. Proper insurance ensures protection for the vehicle, driver, passengers, and taxi operator against financial losses, legal liabilities, and operational interruptions.
With taxis operating in city traffic, long routes, and high-frequency usage, insurance is crucial to avoid costly repairs, third-party claims, and income loss.
What Is the Main Reason for Taxi Insurance?
The primary reason to buy Taxi insurance is:
To protect the taxi, driver, passengers, and business income from financial loss due to accidents, theft, fire, natural disasters, or third-party liabilities.
Since taxis operate daily in high-traffic urban areas, insurance ensures legal compliance, passenger safety, and uninterrupted service.
Taxi Insurance Price List (Approximate)
| Taxi Model | Third Party (1 Year) | Full Insurance |
| Maruti Dzire / Swift Taxi | ₹11,300 – ₹12,780 | ₹14,600 – ₹19,300 |
| Hyundai Xcent / Aura / | ₹11,300 – ₹12,780 | ₹14,600 – ₹19,300 |
| Toyota Etios / Innova Taxi | 16,300 – ₹24,180 | ₹19,000 – ₹32,000 |
| Electric Taxi / EV Cab | ₹17,000 – ₹19,000 | ₹19,000 – ₹25,000 |
| Related Passenger & Fleet Taxis | ₹11,300 – ₹14,280 | ₹18,800 – ₹32,000 |
Note: Final premium depends on IDV, vehicle age, city, RTO, add-ons, NCB, and insurer selection.
Types of Taxi Insurance Plans Available in India
Third-Party Taxi Insurance
- Mandatory under the Motor Vehicles Act, 1988 for all taxi/cab operators in India
- Covers injury, death, or property damage caused to a third party by your taxi
- Does not cover damage to your own vehicle
- Premium is fixed by IRDAI — same for all insurers
- Minimum legal requirement to operate a taxi in India
Comprehensive Taxi Insurance (Most Recommended)
- Covers third-party liability + damage to your own taxi
- Covers accidents, fire, theft, natural disasters (flood, earthquake, cyclone)
- Covers EV battery and drivetrain damage for electric taxis
- Ideal for all taxi operators running daily commercial operations
- Can be enhanced with add-ons for better protection
Standalone Own-Damage (OD) Insurance
- Covers only damage to your own taxi vehicle
- Must be combined with an active third-party policy
- Suitable for fleet operators who want to manage TP and OD separately
Short-Term Taxi Insurance (3 Month Taxi Insurance)
- Available for taxi operators who need temporary or seasonal coverage
- PolicyLegit offers short-term cab insurance for 3 months, and 6 months
- Available only with comprehensive plans
- Premium calculated on IRDAI short period scale
- Ideal for new operators, seasonal services, or contract-based cab work
Policy Duration | Best For |
|---|---|
3 Months | Contractual taxi services, temp operators, fleet gap coverage |
6 Months | Semi-annual renewal, intercity seasonal taxis |
1 Year | All regular taxi operators — most recommended |
Taxi Insurance Price – Premium & Cost Factors
Key Factors Affecting Insurance Cost
- IDV (Insured Declared Value)
- City / RTO Zone
- Vehicle Age & Model
- No Claim Bonus (NCB) – Up to 50% discount
- Usage Type (Daily Cab, Intercity, Fleet)
- Policy Coverage & Add-ons Selected
- Claim History & Driver Profile
Why Buy Taxi Insurance Online from PolicyLegit?
Instant Quote Comparison
Compare premiums from multiple insurers in minutes.
Affordable Pricing
Online purchase reduces agent commission costs.
Customised Coverage
Select add-ons based on vehicle type, usage, and passenger capacity.
Renewal Alerts
Protect your NCB and avoid policy lapse.
100% Digital & Paperless
Instant policy issuance and secure online payment.
Dedicated Claim Support
End-to-end assistance for faster claim settlement.
Taxi Insurance Renewal – Simple Online Process
Renew your Taxi insurance in 5 easy steps:
- Enter your taxi registration number
- Compare renewal quotes instantly
- Select coverage & add-ons
- Make secure online payment
- Download renewed policy instantly
Renew before expiry to avoid inspection delays, penalties, and NCB loss.
Coverage Under Commercial Vehicle Insurance
- Losses due to riots, strikes, natural calamities such as earthquakes, hurricanes, cyclones, etc, are covered
- Damages to the vehicle arising out of fire, self-ignition and explosion
- Partial or total loss to the insured vehicle due to theft, housebreaking, and burglary
- Loss or damage caused to the third-party property, vehicle, bodily injuries and death of the third person.
- Damages arising out of road accidents or collisions are also covered.
- Wear and tear/depreciation of the commercial vehicle.
- Losses incurred during a civil war, nuclear perils.
- Contractual liabilities of the owner/driver of the insured commercial vehicle are also not covered.
- The occurrence of an accident while driving with an invalid driving license or under the consumption of alcohol.
- Using a vehicle in accordance with 'limitations as to use', for instance, a private car is used as a taxi.
- Electrical and mechanical breakdown, breakage or failure of the insured vehicle.
List of Taxi Commercial Vehicle Insurance Companies in India 2026
Following is the list of general insurance companies that offer commercial vehicle insurance:
| Insurer Name | Passenger Carrying Vehicle Insurance | Goods Carrying Vehicle Insurance | Miscellaneous Vehicle Insurance |
| Bajaj Allianz Commercial Vehicle Insurance | No | Yes | No |
| Godigit Commercial Vehicle Insurance | Yes | Yes | Yes |
| New India Assurance Commercial Vehicle Insurance | Yes | Yes | No |
| Reliance General Commercial Vehicle Insurance | Yes | Yes | Yes |
| SBI General Commercial Vehicle Insurance | Yes | Yes | Yes |
| Shriram General Commercial Vehicle Insurance | Yes | Yes | No |
| United India Commercial Vehicle Insurance | Yes | Yes | No |
| Zuno Commercial Vehicle Insurance | Yes | Yes | No |
*Disclaimer: The table mentioned above is according to the alphabetical order of the insurance company. Policylegit does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policylegit. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
Explore More Under Commercial Vehicle Insurance
- Commercial Vehicle Third Party Insurance
- Commercial Vehicle Insurance Companies
- Tractor Insurance
- Truck Insurance
- Pick Up Van Insurance
- School Bus Insurance
- Goods Carrying Vehicle Insurance
- Passenger Carrying Insurance
- Auto-Rickshaw Insurance
- E-rickshaw Insurance
- Bus Insurance
- Tempo Traveller Insurance
- Trailer Insurance
- Tipper Insurance
- Heavy Truck Insurance
- Tanker Insurance
- Bulker Insurance
- Taxi Insurance
Is taxi insurance mandatory in India?
Yes. Taxi insurance is mandatory under the Motor Vehicles Act. At minimum, third-party taxi insurance is legally required to operate a cab in India.
What is the price of taxi insurance in India?
Taxi insurance price usually starts from ₹12,000 per year and can go up to ₹25,000+, depending on the taxi model, city, IDV, usage type, and add-ons selected.
Does taxi insurance cover passengers?
Yes. Taxi insurance can cover passengers if you opt for Passenger Liability / Personal Accident add-on. This is highly recommended for daily commercial taxi operations.
Is electric taxi (EV cab) insurance different?
Yes. Electric taxi insurance includes coverage for battery, electric motor, and drivetrain, along with accident and third-party liability, which are not covered in standard policies.
How can I reduce my taxi insurance premium?
You can reduce taxi insurance premium by:
Maintaining No Claim Bonus (NCB) up to 50%
Choosing correct IDV
Avoiding unnecessary add-ons
Renewing policy on time
Comparing quotes online
What happens if taxi insurance expires?
If taxi insurance expires:
You may lose NCB discount
Vehicle inspection may be required
Driving becomes illegal
Claims during lapse are rejected
Always renew before expiry.
How to claim taxi insurance after an accident?
To file a taxi insurance claim:
Inform insurer immediately
File FIR (for theft/major accidents)
Submit RC, DL, policy documents
Surveyor inspection
Claim approval & settlement
Cashless garages are available with many insurers.
Is fleet taxi insurance available in India?
Yes. Fleet taxi insurance is available for multiple taxis under one policy. It offers lower premium, easier management, and centralised renewals for taxi operators.
Which insurance is best for taxis – third party or comprehensive?
Comprehensive taxi insurance is best because it covers third-party liability plus damage to your own taxi, theft, accidents, natural disasters, and EV components for electric taxis.
