As a motor trade business owner, it’s essential to find the right motor trade insurance.  In today’s tough economic times, everyone is looking for creative ways to cut down costs and reduce overheads. Whether one runs a vehicle servicing, car sales dealership or a bodyshop, One Sure Insurance could be a great place to start.

Here are some few tips to help you save money in the long and short term.

Declare a no claims bonus

You can get up to 60% discount for a no claims bonus earned on a previous motor trade insurance policy. What this means is that you can benefit from huge savings if you have a proven claim free record. For people who’d rather not transfer their no claims bonus, an insurance company may provide a mirrored no claims discount which may significantly reduce their premium.

Individuals who spent years working under their employer’s policy and would like to set up their own may also be able to get discounts if they are able to confirm a claim free record from their previous insurance company.

Pay all at once

While some people prefer to pay their premium on a monthly basis, what they don’t know is that they increase the cost by 15%. This could be a lot more depending on the value and type of insurance. To cut down costs, pay all your insurance at once instead of spreading the cost over the year.


Reviewing one deductibles can make a huge difference when it comes to trade auto insurance. Before going for deductibles with a higher vale, ensure that you are able to cover them even if you get into difficult times. Moreover, you may have deductibles that are not relevant. Swap them for those with a higher value to minimize your premium costs.

Check on what your motor trade activity

Motor trade insurance companies deem certain activities such as vehicle salvage, breakdown recovery or dismantling as hazardous and could increase your premium. Car dealers specializing in prestige vehicles and performance may also increase their premiums. On the other hand, insurers offer reduced rates for people involved in bodywork, MOT preparation, and servicing. To make sure that you get the correct cover, disclose all your motor trade activities. Hiding some of your activities may end up being costly in case a claim is reported.

These are some of the ways you can reduce your motor trade insurance costs. Contact your insurer today to learn more about different ways you could cut down costs.