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What Factors Affect Your Motor Trade Insurance Premium?

Find Out What You Need To Know Before Getting Motor Trade Insurance

There are a number of factors that could have an effect on your motor trade premium. We’ve looked at a few of them below:

The Type Of Motor Trade Business That You Run

A motor trader that deals with high-end, expensive cars is going to have a higher premium than motor traders that deal with low value, older vehicles. This is because the types of vehicle that you work with and the people that you employ (and their driving record) can all affect your motor trade insurance premium.


Like any insurance policy, the location of your motor trade operation is a key factor in calculating your premium. Do you operate from separate premises such as a lot for used car dealers, or do you run your business from home? Similar to home insurance, things like risk of flooding and level of crime are all taken into account when working out your premium, and the higher the risk of one, or all of these occurring, the more you may have to pay.

No Claims Bonus

Like a regular motor insurance policy, having no claims bonus available to use can help reduce your motor trade premium significantly. The more years you have on your no claims bonus the higher the discount you will get on your motor trade insurance.

Driving Convictions

Having a driving conviction can also negatively affect your motor trade insurance premium. One speeding fine might not have much of an effect on your premium, however there are other factors which will make a huge difference. For example if you have over six points on your licence, have been convicted for having no insurance or have been caught drink driving then your premium will be quite high.

Get A Quote Today!

No matter what area of the trade you work in, it is a legal requirement to have the right level of motor trade insurance in place. To find out how much your cover could cost with Think Insurance, call 0330 127 4100 or click get a quote below.