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If the car is a genuine hackney carriage TAXI then there will be a replacement courtesy provided at your expense. If he is a minicab private hire driver then he is either not going to bother fixing it or he'll know someone in a railway arch somewhere who can fluff it up. I'd say £300 as a one off is worth doing.
Constable_Savage
I reversed into a car on Saturday, he was driving a taxi - was a super minor bump as I didn't see him drive into my blind spot. My fault obvs. swapped phone numbers but not insurance details. He's sent me a text saying it will be £180 + 120. I've got it recorded through sentry cam on my car. Should I just go through my insurer?