Allianz updates wordings and limits of motor trade products

Allianz has updated the wordings and limits of its motor trade products amid technological changes within the sector.

The insurer said changes to its select and complete propositions include comprehensive electric vehicle (EV) cover, more environmentally friendly replacements, optional pollution clean-up costs and legal expenses.

Enhanced limits on motor trade select will also be available across the material damage and road risks section.

These changes came into effect for renewals and new business from 15 July.

Olivia Baker, head of motor trade at Allianz Commercial, said: “These changes demonstrate our commitment to providing tailored and relevant protection for our customers in the evolving motor trade industry.”

Cover

The new EV cover includes third-party liability during charging and damage coverage for cables, connectors, electric wallboxes and charging posts.

Optional pollution clean-up costs coverage, meanwhile, will address the cost of any remediation legally required or ordered by a statutory authority or regulator as a result of pollution or contamination.

And commercial legal expenses for motor trade select have been combined into one single optional wording – for complete motor trade, an all-risks wording has been introduced.

However, with advancements in vehicle safety technology, such as advanced driver assistance systems, the improper and unlawful use of these systems, including deactivation, modification and calibration, is excluded.

Cyber events, over-the-air updates and additional conditions related to volunteering are also excluded from the road risk section.

The exclusion of unattended vehicle charging in buildings, meanwhile, has been added to the material damage section.

Training

Allianz said it was also supporting the upskilling of motor engineers by offering motor trade customers discounted automotive training through its long-term partnership with the Retail Motor Industry Federation (RMI), the UK’s automotive trade body.

“We recognise that it is not just the right products that can support our customers,” Baker said.

“Our partnership with the RMI in providing training to them ensures that we are supporting their long-term futures.”