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Taxi Insurance
Taxi insurance is specialised commercial vehicle insurance designed for vehicles operating under hire and reward, including black cab, hackney carriage, PHV, PCO taxis, minicab, mini cab, limo, livery vehicles, and even electric taxis. Whether you run a single cab business or manage a fleet, Taxi/Cab Insurance protects your vehicle, passengers, and business from financial losses.
At PolicyLegit.com, we help taxi owners compare cheap taxi insurance quotes, including cheap PCO insurance, cheap temporary taxi insurance, short-term cover, and fleet taxi insurance, all from leading insurers and brokers.
Taxi Insurance Plans#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.
#1 Rs 5773/- per annum is the price for third-party commercial vehicle insurance for Mahindara Alfa PAX DX registration year 2020. The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively. The comprehensive commercial vehicle insurance prices mentioned above are for a 5 year Mahindara Alfa PAX DX registration year 2020. These quotes are from mentioned from lowest to highest price. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
#1 Rs 5773/- per annum is the price for third-party commercial vehicle insurance for Mahindara Alfa PAX DX registration year 2020. The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively. The comprehensive commercial vehicle insurance prices mentioned above are for a 5 year Mahindara Alfa PAX DX registration year 2020. These quotes are from mentioned from lowest to highest price. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
What is Commercial Vehicle Insurance?
A Commercial Vehicle Insurance is a motor insurance policy to cover for damage and loss caused to and by a commercial vehicle. Owner of the vehicle and driver who drives the vehicle. This could include damage and losses in situations as accident, collisions, fires, theft, natural calamities, etc. it is mainly for all type of business to buy a commercial vehicle insurance for their vehicles, such as for auto rickshaws, cabs, pickups, trucks, tractors, school buses, commercial vans, jcb, harvester and amongst other.
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.
Taxi Insurance Approximate Price List (India)
Model / Type: Maruti Dzire / Swift Taxi
Approx. 1st Year Premium: ₹12,000 – ₹18,000
Renewal (with NCB): ₹8,500 – ₹14,000
Model / Type: Hyundai Xcent / Aura / Verna Taxi
Approx. 1st Year Premium: ₹14,000 – ₹20,000
Renewal (with NCB): ₹10,000 – ₹16,000
Model / Type: Toyota Etios / Innova Taxi
Approx. 1st Year Premium: ₹16,000 – ₹25,000
Renewal (with NCB): ₹12,000 – ₹20,000
Model / Type: Electric Taxi / EV Cab
Approx. 1st Year Premium: ₹15,000 – ₹22,000
Renewal (with NCB): ₹11,000 – ₹18,000
Model / Type: Related Passenger & Fleet Taxis
Approx. 1st Year Premium: ₹12,000 – ₹28,000
Renewal (with NCB): ₹9,000 – ₹22,000
Note: Final premium depends on IDV, vehicle age, city, RTO, add-ons, NCB, and insurer selection.
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.
Types of Taxi Insurance Policies Available
Third-Party Liability Insurance
- Mandatory under Motor Vehicles Act
- Covers injury, death, or property damage to third parties
- Does not cover your own taxi
Comprehensive Insurance (Highly Recommended)
- Covers third-party liability + own vehicle damage
- Covers accidents, fire, theft, natural disasters, and EV battery / drivetrain (for electric taxis)
- Ideal for taxis with high daily usage
Standalone Own-Damage Insurance
- Covers only damage to your taxi
- Requires active third-party insurance
Add-Ons / Riders for Enhanced Protection
- Zero Depreciation Cover
- Engine & Gearbox / Electric Motor Protection
- Roadside Assistance
- Consumables Cover
- Passenger Liability / Personal Accident Cover
- Return to Invoice / Replacement Cost
Add-ons slightly increase premium but significantly reduce out-of-pocket claim costs.
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.
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:
- Trucks
- Vans
- Trailers
- Buses
- Taxies
- Coaches
- Carriers
- Shovels
- Tractors
- Cranes
- Mobile rigs
- Bulldozers
These commercial vehicles transport goods within the city/cities and from one state to another, as well as for intercity passenger tours and travel.
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. Policybazaar 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 Policybazaar. 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
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