Changes designed to benefit smaller motor traders
Aviva has made its motor trade insurance product more flexible in a bid to make it better suit the needs of smaller business motor traders.
The revised product offers smaller motor trade operations the ability to restrict road risks cover to named drivers only, accompanied by a reduction in the price they pay, as well as removing compulsory business premises cover.
Additionally, those home-based risks which have comprehensive road risks cover (and are otherwise suitable) will benefit from the automatic provision of cover for up to £50,000 of vehicles while 'on the premises' under the road risks section.
“We have listened to feedback from both brokers and policyholders and worked hard to adapt our motor trade proposition to make it more accessible to a broader range of businesses,” said Alison Ellis, product development manager at Aviva. “Our research suggested that, particularly in the current climate, the affordability of cover is key to smaller motor trade operations. In response to this, we have created a small-business-centred proposition which is affordable and still provides extensive cover.”
She added: “With 70% of motor traders having less than five employees, this is a significant market and we are keen to ensure our updated proposition reflects the changing needs of these smaller operations.”
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