Allianz enhances Motor Trade products
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Authored by Allianz
With the automotive landscape continuing to develop with new technology in vehicles and a push to utilise greener, environmentally friendly practices, Allianz has refined its Motor Trade products to reflect the evolving needs of its customers and the technological changes that are impacting the motor trade sector.
The updated wordings and limits to both Motor Trade Select and Complete Motor Trade products include several key cover changes, such as comprehensive electric vehicle cover, more environmentally friendly replacements, optional pollution clean-up costs, legal expenses, and enhanced limits on Motor Trade Select across the material damage and road risks section. These changes came into effect for renewals and new business from 15 July.
The refreshed details include comprehensive electric vehicle cover – which includes third-party liability during charging and damage coverage for cables, connectors, electric wallboxes, and charging posts. Damaged machinery and plant will be replaced with environmentally conscious alternatives and buildings rebuilt using materials that reduce the impact on the environment.
Optional pollution clean-up costs coverage will address the cost of any remediation legally required or ordered by a statutory authority or regulator as a result of pollution or contamination.
Commercial legal expenses for Motor Trade Select have been combined into one single optional wording, which gives access to Allianz Legal Services and for Complete Motor Trade, an all-risks wording has been introduced.
With advancements in in-vehicle safety technology like advanced driver assistance systems (ADAS), designed to protect all road users, 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 has been added to the material damage section. This is an important emerging risk that policyholders may not be aware of, and it may require additional risk management. We are emphasising that coverage does not apply in this scenario to encourage policyholders to discuss their need to charge vehicles unattended inside buildings with us.
With the growing need for EV chargers on many sites, Allianz Engineering also offer inspections of EV chargers, which can be incorporated within the refreshed Motor Trade products.
With newer technologies also comes the need for the motor trade sector to develop new skills and today’s motor engineers are needing a broader knowledge as well as strong computer skills to be able to work with the diagnostic tools that are now commonplace.
To support the need for upskilling motor engineers in light of these rapid technological changes in the motor industry, Allianz is now offering its motor trade customers discounted automotive training through its long-term partnership with the Retail Motor Industry Federation (RMI), the UK’s leading automotive trade body.
Customers can benefit from a wide range of courses, including MOT tester training, electrical and hybrid vehicle repairs, and technical ADAS training, all at discounted RMI membership rates.
Olivia Baker, head of motor trade at Allianz Commercial, commented: “These changes demonstrate our commitment to providing tailored and relevant protection for our customers in the evolving motor trade industry. We recognise that it is not just the right products that can support our customers, our partnership with the RMI in providing training to them ensures that we are supporting their long-term futures.”