Includes increased limits, additional extensions and embedded engineering cover
Travelers has augmented its motor trade insurance product, Automotive. The company has unveiled some of the new improvements that include increased limits, additional extensions and embedded engineering cover to its motor trade insurance product, reported
According to Travelers, Automotive is now expected to provide legal expenses cover, underwritten by DAS Legal Expenses, plus protection against loss of MOT licence. Enhancements also include improvement to the business interruption cover; new-for-old replacement of damaged vehicles under nine months old; and free seasonal increase.
For businesses with annual premiums of £10,000 or more, Automotive provides property, liability and road risks cover for motor trade businesses principally involved in sales, service, repair, conversion and recovery, the company said.
John Hemmings, senior industries manager and head of Automotive at Travelers, said: “Travelers’ Automotive product, backed up with experienced underwriters and claims handlers, has found great favour with brokers and we feel it’s important to continue to reflect the changing needs of the market. Our brokers have told us what they want; we’ve listened and responded.
“This product refresh meets our customer’s changing needs and is reflective of our desire to expand our pool of brokers who share our specialist approach to the motor trade sector.”
The policy changes are effective from October 1, 2009.