Why do switches have a current and voltage limit?
Figure 1. 1-pole, 2-way slider switch.

The worst that will happen is that the contacts burn out (open-circuit) or short out (weld closed). The maximum current they can handle is usually determined by the contact area and, but especially in this case, the contact movement speed and gap. In a good switch the contacts will toggle; that is, as the switch lever moves the contacts stay in the original position until a certain point is reached, the mechanism toggles and the contacts quickly change state. This minimises the time spent in arcing.

In the case of this switch the contacts move with the speed of the user's switching action as they are attached to the slider. It's possible to park the slider in a position where the contacts are barley made.

In short:


The voltage rating is the specified maximum voltage it can safely switch. (Higher voltages require larger contact separation.)
The current rating is the maximum current it can handle. This needs to accommodate both the continuous current through the switch when closed and any arcing during opening.)


A switch should meet or exceed the requirements for the application.

Having said all that, if you already have the switch and this is a hobby application then go ahead and try it. For intermittent use it should be fine. If you have several you could put one in each motor line.