Allianz has updated its motor trade products in the UK amid new technologies and a shift towards environmentally friendly practices in the automotive space.
Effective from July 15, the revised Motor Trade Select and Complete Motor Trade products feature key coverage enhancements. These include comprehensive electric vehicle (EV) coverage, environmentally conscious replacements, optional pollution clean-up costs, legal expenses, and increased limits in the material damage and road risks sections of Motor Trade Select.
One significant update is the comprehensive electric vehicle coverage, which includes third-party liability during charging and protection for cables, connectors, electric wallboxes, and charging posts. Damaged machinery and plant will be replaced with eco-friendly alternatives, and buildings will be rebuilt using materials that reduce environmental impact.
Meanwhile, pollution clean-up coverage addresses the costs of legally required remediation following pollution or contamination incidents. For Motor Trade Select, commercial legal expenses have been consolidated into a single optional wording that provides access to Allianz Legal Services. For Complete Motor Trade, an all-risks wording has been introduced.
To address advancements in in-vehicle safety technology, such as advanced driver assistance systems, Allianz has excluded coverage for the improper and unlawful use of these systems, including their deactivation, modification, and calibration. Additionally, coverage for cyber events, over-the-air updates, and volunteering-related conditions is excluded from the road risk section.
An important new exclusion in the material damage section is unattended vehicle charging in buildings. This emerging risk may require additional risk management and is excluded to prompt policyholders to discuss their specific needs with Allianz.
Recognising the growing need for EV chargers, Allianz Engineering also offers inspections of these chargers, which can be integrated into the updated motor trade products. In addition, Allianz is offering motor trade customers discounted automotive training through its partnership with the Retail Motor Industry Federation (RMI).
“These changes demonstrate our commitment to providing tailored and relevant protection for our customers in the evolving motor trade industry,” Allianz Commercial motor trade head Olivia Baker (pictured) said. “We recognise that it is not just the right products that can support our customers; our partnership with the RMI in providing training ensures that we are supporting their long-term futures.”
The enhancements come on the heels of Bethany Thomas being named sustainability head at Allianz UK. The newly created role aims to centralise the insurer’s sustainability strategy across its multi-brand portfolio in the country.
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