Fixed annual premium

Taxis are a Class 7 for setting of premiums.

The average annual premium for a taxi in the metro area (T plate) from 1 July 2018 is around $5,970 and in country areas (TC plate) is around $3,210.

The premium includes:

• base premium
• cents-per-kilometre (based on average kilometres travelled in a year):
  • 5 cents x 107,000 km per year to T plates
  • 3.3 cents x 85,000 km per year for TC plates
• Class 7 Fund levy:
  • $142 for T plates
  • $110 for TC plates
• Input tax credit (ITC) loading of 7%^†
• GST of 10%.

_{† Variable by insurers}