Motorway launches FCA-regulated insurance coverage for used automobiles purchased on-line

Used automotive market Motorway is launching a brand new insurance coverage product designed to guard sellers from mechanical and electrical points when shopping for used automobiles on-line.

Partnering with Opteven which specialises in warranties and mechanical breakdown protection throughout Europe, Motorway Shield covers sellers for as much as £5,000 in restore prices for £29.99 per automobile.

The insurance coverage coverage, regulated by the FCA, goals to safeguard sellers from expensive mechanical surprises, serving to them keep revenue margins when shopping for inventory on-line.

Motorway Shield is out there for automobiles as much as 10 years previous and with fewer than 100,000 miles, making it appropriate for a variety of used automobiles.

Protection begins the day after cost and sellers could make claims simply by way of an internet portal, which is accessible 24/7. This portal permits sellers to submit claims in just some minutes, with a call sometimes made inside two hours.

James Wilson, COO of Motorway, commented: “Each product and have we launch, from quick, safe funds with Motorway Pay to hassle-free transport with Motorway Transfer, goals to reinforce the car-buying expertise for our supplier companions. Motorway Shield isn’t any completely different.

“We all know that sudden mechanical and electrical points could be expensive and time-consuming. To handle this, we’re introducing Motorway Shield, an industry-leading product, backed by trusted companions, at a extremely aggressive fee. The straightforward claims course of and fast decision-making ensures a hassle-free expertise, defending sellers’ margins. We’re thrilled to supply this to our supplier companions.”

James Barr, head of nationwide programmes at Opteven added: “Motorway has a imaginative and prescient to construct a greater automotive marketplace for everybody, harnessing the ability of expertise to ship an incredible expertise. In partnership with Opteven, this expertise has now been additional enhanced by means of the availability of a market main insurance coverage answer to present retailers that extra degree of confidence when utilizing Motorway.’’