Motor Trade Migration is around the corner

Estimated Read Time: 1 minute 20 seconds

We’re continually reviewing our product offering to ensure the cover we provide is competitive in an ever-changing market. In December 2018 we released Motor Trade One, offering clients’ more cover and conveniently bringing Premises and Road Risks into one simple policy.

From January 2020 we’re migrating existing NIG Motor Trade policies onto our new product wording, effective from the policy renewal date.

Benefits include:

  • Improved documentation at point of sale
  • More cover – increased limits and new extensions at no extra cost
  • Documents available instantly and will also be emailed
  • Prepopulated renewal declarations from 2021
  • Commission breakdown by section

What’s changing?

There are a number of additional fields that we now rate upon. We require this additional information to renew the policy. Click here to view the new fields to fill in on the declaration form.

What do you need to do?

  • As usual, please complete the Motor Trade declaration in full. The form is now PDF editable to make it easier to complete.
  • Ask your clients for the additional risk information we require to renew the policy. The information is market standard so we’re confident it’ll be easy for your clients to identify.

How will the renewal process work this year?

Our dedicated Migration Team will contact you 12 weeks before renewal so that you have time to gather the additional information from your clients. Once we have the required information, you’ll negotiate your renewal in the normal way with your local underwriter.

For further information click here. If you have any questions about your client’s Motor Trade renewal please speak to your Senior Business Development Manager or regional contact.