6 Things That Could Affect Your Insurance Premiums

Motor trade insurance is diverse. Different insurance industries such as onesureinsurance.co.uk/motor-trade-insurance provide cover for valeters, mechanics, car dealers, and more. But did you know that there are some things that could affect your insurance premium? You could end up violating a policy by some things you may be doing unknowingly.

Some of the factors that could affect your insurance include:


While this may be difficult to gauge when applying for a cover, it’s important to take all this information into consideration. If you run a car dealership where you sell used cars, this information could be pertinent. The more miles you travel, the higher your premiums will be. Overestimating the mileage could also cause an unnecessary hike in your premiums.


The frequency with which you use your vehicle could affect your premium rates.  If you have some cars that are not in use, it’s critical to state this in your application to ensure that you get the best rates.

Rate at which accidents occur

If your employees are always involved in accidents, this could cost you a little more. If one of the cars insured gets into an accident and no party accepts responsibility, the claim still remains in dispute. If your insurance comes up for renewal during this period, you could end up paying a higher premium. In case a claim is resolved, it’s critical to notify your insurer to make sure that you get a refund.

Location of your business

If you operate your motor trade business from your business premises, this may affect your premiums. Running your motor trade business at the same address could reduce your premiums as the insurer deems this as low risk.


If you run a motor trade business on a part-time basis, this could affect your premiums especially if you’re not covered for the second occupation. Moreover, failing to disclose these details could make your insurance invalid. Some underwriters do not cover commuting from an additional place of work. It’s, therefore, important to include all the facts about your business.

Additional drivers

If you have multiple drivers on your motor trade policy, this could increase your overall premium. What’s more, you’ll have to part with a huge amount if you have an under 25 driver on your policy. Moreover, reduce the number of motors as this could lower your premiums.

These are some of the factors that could affect your motor trade insurance premiums. Talk to your trade insurance company to learn if you qualify for a cover.

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