Lexelle is pleased to announce the launch of a new line to our Motor Legal Expenses product.
Following requests from our insurance broker clients in regards to their motor trader customers, we identified there were few, if any, products written specifically for this industry and its unique risk profile.
We found some brokers were worried about providing their motor trade clients with general Motor Legal Expenses policies, as the terms and ratings didn't match the risk profile of an insured business.
A particular issue with relying on general Motor Legal Expenses policies is that they are written to provide cover for a specifically nominated vehicle or fleet size. This, of course, did not suit the needs of a Motor trader who would not know which vehicle they would be driving or fleets or if the stock of vehicles would fluctuate. It was also not clear what cover, if any, would be provided whilst driving customers' vehicles. The result of this could be that at the time of need, such as following an incident, customers fail to receive the assistance they need and expect.
With this in mind, working with our capacity providers, we set to work to redraw Motor Legal Expenses cover to meet the needs of a sector that largely is uncatered for.
Our efforts have resulted in the development of Lexelle's Motor Legal Expenses products that are rated fairly based on likely road risk rather than fleet size. On top of that, the cover extends not only to their own vehicles, including vehicles in stock, but also to customers' vehicles.
These new products are written and rated to cater for motor retailers, servicing garages, valeters, detailers and vehicle logistic companies and provide the same level of cover you expect from Lexelle Legal Expenses, including Uninsured Loss recovery, Personal Injury and Motor Prosecution.
So if you have motor traders, large or small, on your books, do not make do with shoehorning them into a standard motor Legal expenses insurance product. Speak with us about our new Motor Trader Legal Expenses Insurance and provide them with the cover they need, made specifically for them.