Insuring many drivers will increase the cost of the cover. You therefore need to reduce the extension of the policy to cover only one named driver
An insurance group refers method used by insurers to rate cars into groups ranging from 1 to 50. The grouping is based on factors such as the market value, the cost of maintenance and safety features among others.
Insurers usually consider the driving license of the driver under the taxi insurance cover when grouping the vehicles.
If your driving experience is below average, you are likely to face higher insurance premiums. Insurers will however cut down your premiums if you deliver certificate for completion of defensive driving course as it proofs your improved driving skills.
Driving carefully will create a good record of your taxi vehicle to the insurers due to reduced claims. Having zero claims will earn your vehicle up to 30% bonus on the annual premiums.
Most insurers increase their premiums after every 2 to 3 years. You may therefore end up paying higher amounts for your taxi insurance cover if you stay loyal to one service provider for a long time.