Before we look at ways motor traders can possibly save money on their insurance premiums, it is first perhaps worth looking at what type of motor trade insurance is currently available.There are two main types of motor trade policy, the first of which is road risks only. A Road risks policy, as the name suggests, simply covers vehicles when they are being used on a public road. This cover is actually a legal requirement under the road traffic act and road risks only policies are favoured by motor traders without premises and who perhaps trade from home.A more common type of insurance policy is a combined motor trade insurance policy and this as the name suggests includes a variety of covers and is more suited to those businesses in the auto industry with premises and employees. As well as a road risks section a combined policy can include cover for material damage, contents, buildings, stock as well as cover including public and employees liability.So if these are main types of motor trade policy available, what are the 3 ways in which to save money? One way to reduce your premiums could be to look at what your current policy covers you for and reviewing whether the level of cover you have is correct. In some cases motor traders end up paying for cover they do not actually need and by asking your current broker to review your risk you can very often reduce your premiums accordingly.Another way to reduce your premiums is extremely simple but very few motor traders actually do it. Top tip number 2 is therefore to ask your current provider if they can get a lower premium. Some insurance providers will simply renew existing ipolicies without doing the leg work of searching each year for the very best deal. If you receive your renewal terms and you are not happy with how it compares to what you paid last year you should therefore ask your broker or company what else they can do.The final way to reduce your motor trade insurance premiums is to actually consider changing to a different provider. Whilst staying loyal to a service provider is important to many people, the fact is there is an extremely good chance of paying less for your motor trade insurance premiums if you decide to place your business with a motor trade specialist or broker. The reason for this is that motor trade insurance brokers will most likely have specialist policies and rates that are simply unavailable from your current broker..If you work in the motor trade and are therefore looking to reduce the amount you pay for your combined motor trade policy, follow these 3 very easy but highly effective tips and make sure you reduce your motor trade insurance in the coming year and beyond.