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