Insurer rolls out internal risks proposition for small motor traders
Broker insurer MMA Insurance has launched a new motor trade internal risks product.
The new policy provides motor traders with up to six employees the option to cover up to £60,000 for their stock of vehicles at the business premises, up to £5m of public liability and £10m of employers’ liability. In addition, buildings cover of up to £100,000, office contents of up to £10,000 and £25,000 of business interruption and money cover are also available for vehicle sales offices.
The motor trade road risks cover has also been improved with the introduction of protected no claims bonus, split indemnities for full time motor traders with comprehensive cover and green card cover for named spouses. The business premises exclusion radius has been reduced from 1km to 400m and introductory discounts up to a maximum of 20% have been introduced for any person named on a spouse’s or employer’s policy, provided they have been claim free for at least two years.
Derek Plummer, commercial director of MMA Insurance said: “We have been consulting with our brokers for some time to see how we can better meet their needs when it comes to winning and retaining SME business. Thanks to their input we are confident that our new Motor Trade Internal Risks together with our revamped Road Risks product now offers the perfect solution for those smaller motor traders looking for flexible options without the high cost and complexity of a combined policy, an area where there has previously been a gap in the market.
“The launch of Motor Trade Internal Risks follows the relaunch of our Commercial Combined product in February. Working with our broker partners we will be carrying out further reviews over the coming months as part of the ongoing development of a market leading SME proposition.”
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