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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