Carrier vs. Carrier Comparisons
The leading options of the best car insurance companies for taxis are Travelers, State Farm, and Geico, offering competitive rates starting at $125 per month.
These companies stand out by combining cost-effective premiums with tailored protection, ensuring taxi businesses get the best value.
| Company | Rank | UBI Discount | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
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#1 | 30% | A++ | Comprehensive Coverage | Travelers |
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#2 | 30% | B | Reliable Service | State Farm |
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#3 | 25% | A++ | Affordable Rates | Geico |
 |
#4 | 40% | A+ | Flexible Policies | Nationwide |
 |
#5 | 30% | A | Industry Experience | Liberty Mutual |
 |
#6 | 20% | A+ | Tailored Options | The Hartford |
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#7 | 30% | A+ | Innovative Programs | Progressive |
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#8 | 30% | A | Customer Focused | Farmers |
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#9 | 50% | A | Coverage Variety | Mercury |
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#10 | 30% | A | Customizable Plans | American Family |
Keep reading to learn how to buy car insurance for taxis and compare these top providers to find the best fit for you.
By entering your ZIP code above , you can get instant car insurance quotes from top providers near you.
What You Should Know
- The best car insurance rates for taxis start at $125/month
- Travelers is the top pick for comprehensive taxi insurance coverage
- State Farm has the most reliable taxi insurance customer service
#1 – Travelers: Top Overall Pick
Pros
- Extensive Taxi Coverage Options: Travelers is recognized for its wide range of coverage options designed specifically for taxi operators.
- Affordable Monthly Costs: Travelers offers competitive taxi car insurance prices starting at $140 per month. Explore more in our Travelers review.
- High Financial Ratings: Travelers is rated A++ by A.M. Best, reflecting its reliability when paying taxi insurance claims.
Cons
- Fewer Discount Programs: Travelers taxi insurance doesn't have as many discount opportunities compared to other insurers.
- Elevated Rates in Certain Areas: Travelers insurance prices may increase for taxis operating in higher-risk locations.
#2 – State Farm: Best for Reliable Service
Pros
- Dependable Service for Taxi Owners: State Farm is known for consistent and reliable customer service tailored to taxi cab insurance policies.
- Competitive Starting Rates: State Farm provides cost-effective taxi car insurance rates, with base premiums around $130 per month.
- Wide Agent Network: State Farm has a strong network of local agents offering personalized assistance to taxi owners. Read our review of State Farm for full details.
Cons
- Moderate Discounts Available: State Farm offers fewer discount opportunities for taxi insurance than some other providers.
- Limited Digital Services: Certain policy updates may require visiting an office, which can be inconvenient for taxi operators.
#3 – Geico: Best for Affordable Rates
Pros
- Low-Cost Insurance: Geico is known for its cheap commercial taxi insurance rates, starting at $125 per month.
- Convenient Online Management: Easy-to-use online tools make policy management simple for busy taxi businesses.
- Strong Financial Backing: With an A++ rating from A.M. Best, Geico is a reliable option for taxi insurance claims.
Cons
- Limited Specialty Coverage: Geico may lack certain specialized coverage options needed by some taxi operators.
- Fewer Local Agents: Geico has fewer agents available for in-person support when you buy car insurance, which may not suit all taxi owners.
#4 – Nationwide: Best for Flexible Policies
Pros
- Flexible Commercial Insurance Plans: Nationwide offers adaptable commercial taxi policy options that meet the specific needs of businesses.
- Expanded Roadside Assistance: Commerical car insurance for taxis comes with add-ons that provide additional towing and jumpstarts.
- Responsive Customer Service: Nationwide is highly regarded for its customer service tailored to taxi operators. Learn more in our Nationwide review.
Cons
- Higher Initial Rates: Entry-level rates for taxi insurance start at $135 per month, slightly higher than some other companies.
- Limited Availability in Some Areas: Certain taxi insurance discounts and coverage options may not be accessible in all regions.
#5 – Liberty Mutual: Best for Industry Experience
Pros
- Trusted Insurance Provider: Liberty Mutual is recognized for its reliable and established taxi cab insurance. Check out our Liberty Mutual review for more information.
- Diverse Coverage Enhancements: Liberty Mutual offers a variety of additional coverages, such as gap coverage and accident forgiveness.
- Expert Business Guidance: Liberty Mutual commercial and fleet insurance for taxis comes with tools to help businesses develop safe driving programs.
Cons
- Higher Premiums for Basic Plans: Basic insurance rates start at $150 per month, which is higher than some competitors.
- Limited Discounts for Taxis: Liberty Mutual offers fewer discounts for taxi insurance compared to other companies.
#6 – The Hartford: Best for Tailored Options
Pros
- Specialized Insurance: The Hartford provides a range of customized coverage options specifically for taxi businesses.
- Financially Stable Choice: The Hartford holds an A+ rating from A.M. Best. Discover more ratings in The Harford review.
- Excellent Claims Service: The Hartford is renowned for efficient and responsive claims processing, ideal for taxi operators.
Cons
- Higher Coverage Rates: Starting rates for taxi cab insurance are $160 per month.
- Limited Digital Features: Some policy management may require direct contact with customer service.
#7 – Progressive: Best for Innovative Programs
Pros
- Affordable Rates: Competitive rates for taxis start at $137 per month. Compare quotes in our Progressive review.
- Strong Online Tools: Progressive's robust digital tools for managing insurance policies and claims, suitable for taxi businesses.
- For-Hire Livery Insurance: Progressive offers a variety of commercial auto insurance for all types of taxis, from rideshare drivers to black car services.
Cons
- Mixed Customer Feedback: Some taxi operators report inconsistent experiences with Progressive customer service.
- Higher Premiums in High-Risk Areas: Progressive insurance costs for taxis may rise in risk-prone locations.
#8 – Farmers: Best for Customer-Focused Service
Pros
- Dedicated Customer Service: Farmers is known for personalized service and attention to the needs of taxi owners. Discover more in our Farmers review.
- Multiple Discounts Available: Farmers offers various savings opportunities, including safe driver and multi-policy discounts.
- Competitive Premiums: Farmers provides taxi coverage starting at $145 per month, offering an affordable choice.
Cons
- Limited Online Capabilities: Fewer digital tools are available for policy management, which may be less convenient for taxi owners.
- Higher Prices for Full Coverage: Comprehensive taxi coverage may come at a higher price compared to other providers.
#9 – Mercury: Best Coverage Variety
Pros
- Cost-Effective Taxi Coverage: Mercury offers low-cost taxi insurance options with starting rates at $132 per month.
- Stable Insurance Provider: Mercury is rated A by A.M. Best, indicating a dependable choice for taxi insurance.
- Wide Variety of Coverage: Mercury Insurance for taxis covers a range of vehicle types, from passenger vehicles to box trucks and SUVs.
Cons
- Fewer Coverage Options: Mercury may provide a more limited range of specialized coverage options for taxi operators.
- Mixed Customer Reviews: Customer satisfaction with Mercury claims handling varies among taxi owners. Read Mercury Insurance Group customer reviews to learn more.
#10 – American Family: Best for Customizable Plans
Pros
- Customizable Plans for Taxi Owners: As mentioned in AmFam Insurance customer reviews, the company allows taxi businesses to tailor insurance coverage.
- Competitive Starting Premiums: Taxi insurance rates begin at $138 per month, making it a reasonably priced option.
- Great Customer Service Ratings: AmFam customer service and taxi insurance claims handling scores higher in annual policyholder surveys than other companies.
Cons
- Geographic Limitations: Some AmFam taxi insurance discounts and coverage options may not be available across all states.
- Higher Costs for Comprehensive Plans: Full coverage insurance for taxis can be more expensive compared to other insurers.
Best Car Insurance Rates for Taxi Coverage
Finding the best car insurance for taxis requires a careful look at the range of rates offered for both minimum and full coverage. Here’s a side-by-side comparison of minimum and full coverage monthly rates.
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
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$138 | $330 |
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$145 | $300 |
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$125 | $275 |
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$150 | $285 |
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$132 | $310 |
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$135 | $280 |
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$137 | $295 |
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$130 | $270 |
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$160 | $290 |
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$140 | $260 |
Geico stands out as the most economical option, with rates starting at $125 per month for minimum coverage and $275 for full coverage, making it ideal for taxi owners focused on affordability.
State Farm is another strong contender, offering minimum coverage at $130 per month and full coverage at $270, striking a good balance between cost and dependable service.
Strategies for Lowering Car Insurance Costs for Taxis
Reducing car insurance costs for taxis involves several proactive strategies that can help taxi operators save money while maintaining adequate coverage. Taking advantage of available discounts — such as multi-policy discounts, safe driver discounts, or bundling options — can further reduce premiums.
| Insurance Company | Available Discount |
|---|---|
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Multi-policy, Safe driver, Auto safety equipment, Defensive driving course, Anti-theft |
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Multi-policy, Safe driver, Anti-theft, Paid-in-full, Multi-vehicle |
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Multi-vehicle, Safe driver, Anti-theft, Paid-in-full, Membership discounts |
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Multi-policy, Anti-theft, Safe driver, Early shopper, Paid-in-full |
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Multi-policy, Anti-theft, Good driver, Multi-vehicle, Paid-in-full |
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Multi-policy, Safe driver, Anti-theft, Defensive driving course |
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Multi-policy, Multi-vehicle, Safe driver, Paid-in-full, Snapshot (usage-based insurance) |
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Multi-policy, Safe driver, Anti-theft, Defensive driving course |
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Multi-policy, Defensive driving course, Anti-theft, Paid-in-full |
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Multi-policy, Safe driver, Paid-in-full, Continuous insurance |
Maintaining a clean driving record and implementing safety features, like installing telematics devices or dashcams, can also lower rates by demonstrating a commitment to safety.
Each of these providers brings unique benefits, allowing taxi businesses to choose the best insurance company that aligns with their financial needs and coverage preferences.
Top 10 Must-Consider Car Insurance Companies for Taxis
Travelers, State Farm, and Geico are among the best car insurance companies for taxis and commercial fleet insurance.
Travelers stands out for its financial ratings, but Geico is the cheapest taxi insurance company, starting as low as $125 per month.
Finding the right taxi insurance requires exploring a range of options, as coverage needs can vary. Check out our car insurance shopping guide for the best tips on buying commercial auto insurance.
By using online comparison tools, taxi owners can secure the protection they need without overspending. Ready to find affordable car insurance? Use our free comparison tool below to get started.
Frequently Asked Questions
Why is Travelers the best car insurance company for taxis?
Travelers is frequently highlighted as a preferred insurer for taxis due to its extensive range of comprehensive coverage, attractive rates beginning at $140 per month, and its exemplary track record of car insurance companies that customers recommend.
Which insurance providers are deemed the most suitable for taxis?
Travelers, State Farm, and Geico are often recognized as the leading choices for taxi insurance due to their robust coverage options, dependable customer service, and competitive pricing tailored specifically for taxi operators.
What is the monthly taxi insurance cost?
The monthly premium for taxi insurance can vary widely, starting from around $125 with Geico for basic coverage and reaching up to $160 with The Hartford, depending on the level of coverage and specific policy inclusions. Explore your car insurance options by entering your ZIP code below and finding which companies have the lowest rates.
Which taxi insurance company has the cheapest car insurance rates?
Geico is often lauded for having the cheapest taxi insurance rates starting at $125 per month.
What variables influence taxi insurance prices?
Several factors influence taxi insurance premiums, including driver demographics, the operational zone of the taxi, annual mileage, and the chosen level of protection. Car make and model insurance rates will also vary.
What distinguishes State Farm among the best car insurance companies for taxis?
State Farm distinguishes itself with its steadfast service, competitive starting rates of $130 per month, and a vast network of local agents, ensuring personalized, face-to-face assistance for taxi drivers and business owners.
How can I lower my taxi car insurance rates?
Taxi operators can mitigate their insurance costs by soliciting multiple quotes, participating in telematics or usage-based car insurance programs, and capitalizing on available discounts, such as those for bundling, safe driving, or maintaining multiple policies.
Are there bespoke insurance options available for taxi services?
Several insurers, like The Hartford and Liberty Mutual, offer bespoke insurance packages that cater specifically to the nuanced needs of taxi services, including options like non-owned vehicle coverage and excess liability protection.
What types of taxi insurance coverage do I need?
Taxi operators should prioritize comprehensive coverage, liability car insurance, and personal injury protection (PIP).
Can I manage my taxi insurance policy online?
Yes, numerous insurers, such as Progressive, Geico, and Nationwide, offer robust digital platforms that enable taxi proprietors to manage their policies, make payments, file claims, and retrieve documentation online, facilitating seamless administrative handling.