Corporate Solutions

Motor Trade

This policy is tailor made for motor dealers only who engage in Sale of new vehicles, Buying and selling vehicles, Service and repair of vehicles.

Types of Cover:

Internal Risks Policy

Covers motor trade liability to the public in connection with the motor dealers premises.

Road Risks Policy

Covers motor trade and their staff while driving customers’ vehicles in their custody.

Road and Garage Policy

Combination of Internal Risks and Road Risks with addition cover.

Internal Risks Policy

Damage and Third Party which covers:

  • Policyholders own vehicles.
  • Vehicles belonging to insured’s family/household, cover is limited.
  • Liability for personal injury – unlimited
  • Liability for damage to customers’ vehicles.
  • Liability for damage to other property.

Third Party = Road Risks Policy

  • Unlimited liability for personal injury.
  • Liability for damage to customers’ vehicles.
  • Liability for damage to property excluding property held in trust by or in custody or control of policyholder.

Notes for Both Types of Covers

  • Standard policy does not cover loss, damage or liability resulting from fire explosions, theft & frost.
  • Insurers fix limits for each event.
  • No cover for death or injury to employees.
  • Cover applies to events which occur on policy holder’s own premises or place where policy holder/employer is working.

Exclusions:

  • Same as private car
  • Defective workmanship

Policy Extensions:

  • Excluded Perils
  • Excluded Property
  • Excluded Contingencies
  • Consequential Losses