Car Breakers

Placing liability insurance for vehicle recyclers presents challenges that liability insurers do not wish to accept. Lonmar’s London Market Risks team has vast experience in this trade sector, and has a dedicated product to cater for vehicle recyclers.

What is Covered?

• Bespoke policy wording with employers liability, public liability, products liability, sudden and accidental pollution, and financial loss as standard.
• Limits of indemnity up to £25 million.
• Cover enhancements:
   - Service indemnity
   - Conversion
   - Spoilt melts
   - Ability to switch from claims made to occurring basis
   - Retroactive buy back

Benefits:

• No third party bodily injury excess
• No stacking limits
• No warranties
• Risk management support and surveys

New Business Price Promise

• 10% rate reduction applies at inception of all new business – subject to risk being five years claims free and expiring insurer being “A rated”
  
  
• 15% rate reduction applies at inception of all new business to any insured that is aligned to a recognised industry trade association – subject to risk being five years claims free and expiring insurer being “A rated”
  
  
• No claims discount - available on renewal
  
  
• Staged premium payments - interest free