The length of time you or your drivers have been driving taxis affect the policy. If you or one of your drivers is a first time taxi driver, this may mean your premiums will be higher. If, however, you or one of your drivers have been driving for a long time, then the premiums may be less as you’re deemed a responsible and experienced driver. Similarly, if you or one of your drivers have driving convictions this will affect your policy. Being honest here is important, even if you think it will negatively impact your policy – as mentioned above, if you’re found to be dishonest and you try to make a claim, you may be denied. And you’ll be out of pocket not only your premium payments but also the cost of repairing your vehicle, other vehicles involved and any other damages to property or injuries to people.
By supplying the correct information, the insurance broker or agency you decide to go through can calculate the appropriate risks involved, and offer you a policy accordingly. If you lie about the upkeep of your vehicles, and then you’re involved in an accident deemed to be your fault due to poor maintenance – you’ll be denied the claim. If, however, you’re honest about how often you get your vehicles serviced then when purchasing a policy this will be taken into account and your premiums – and the payout you will receive in the event of a claim – will be determined. Sure, you may pay more up front by way of premiums, but your claim won’t be turned down in the unfortunate chance of an accident occurring.
If you are comparing quotes in order to obtain the best possible price for the best possible insurance policy, then you also need to be consistent in your information given to the agency or broker. You cannot possibly obtain accurate quote comparisons if you give different information to different agencies or brokers. Only by keeping your information consistent can you get an honest comparison so you can properly choose the right policy.
Something else to bear in mind is that premiums may be different to ordinary private car premiums – this is because taxis are on the road more often and subjected to an increased risk of something happening. Statistically this is unavoidable. So it is best not to put on your policy that the car will be for private use in the hopes of obtaining a lesser premium – again, your claim will be denied in the event of making one.