Motor Trade Excess Protection Insurance
Specialist cover designed to help motor traders recover insurance excess payments following successful claims.
JMG Motor Trade provides Excess Protection Insurance for businesses and individuals working across the motor industry. Whether you’re a vehicle dealer, mechanic, valeter, recovery operator or part-time motor trader, we can help arrange cover that helps reimburse excess costs and reduce the financial impact of making a claim.
What Is Excess Protection Insurance?
Motor trade excess protection insurance helps reimburse the excess paid when making a successful claim on your Motor Trade Insurance policy. Rather than replacing your existing cover, excess protection works alongside it, helping reduce the financial impact of a claim.
Many motor trade insurance policies include both compulsory and voluntary excesses. Depending on the level of cover selected, excess protection insurance can help recover these costs following a successful claim, providing additional financial security for your business.
Whether you’re a vehicle dealer, mobile mechanic, valeter, or part-time motor trader, excess protection insurance can help protect your business from unexpected out-of-pocket expenses.
How Does Excess Protection Insurance Work?
Excess protection insurance is designed to reimburse the excess you’ve paid on a successful insurance claim. While cover can vary between insurers, the process is typically straightforward.
Step 1: Make a Claim on Your Motor Trade Policy
If you need to make a claim under your motor trade insurance policy, you’ll pay the policy excess as part of the claims process.
Step 2: Your Claim Is Settled
Once your insurer has approved and settled the claim, you’ll receive confirmation of the excess amount that was deducted.
Step 3: Reclaim Your Excess
You can then submit a claim through your Excess Protection Insurance policy and, if approved, recover some or all of the excess paid, subject to your policy limits and terms.
Why Choose Excess Protection Insurance?
Motor trade excesses can often be substantial, particularly for younger drivers, higher-risk trades, or businesses operating multiple vehicles. Excess protection insurance helps reduce the financial burden of making a claim.
Protects Your Cash Flow
Paying a large excess can have an immediate impact on business finances. Excess protection insurance helps minimise these unexpected costs.
Provides Cover Regardless of Fault
Many policies allow you to reclaim your excess whether the incident was your fault or caused by an uninsured or untraceable third party.
Supports Multiple Claims
Depending on the policy selected, you may be able to make multiple excess reimbursement claims during the period of insurance, up to the policy limit.
Offers Additional Peace of Mind
Knowing your excess could be recoverable allows you to focus on running your business without worrying about significant out-of-pocket expenses following a claim.
What Does Excess Protection Insurance Cover and Is It Worth It?
Excess protection insurance helps reimburse the excess paid following a successful claim on your motor trade insurance policy. Cover can vary between insurers, but policies commonly apply to claims involving:
- Accidental damage
- Vehicle theft
- Fire damage
- Vandalism
- Road traffic accidents
Depending on the policy selected, cover may apply to both compulsory and voluntary excesses. Policy limits and claim conditions will vary, so it’s important to understand the terms of your cover before making a claim. For many motor traders, excess protection insurance can provide valuable financial protection, particularly where high compulsory or voluntary excesses apply. Rather than facing a significant out-of-pocket expense after making a claim, the policy can help recover some or all of the excess paid, helping to protect business cash flow and minimise unexpected costs.
Excess Insurance FAQs
Choosing the right policy can be confusing, particularly if you’re new to the motor trade. Below are answers to some of the most common questions we receive from traders.
Depending on the policy selected, you may be able to make multiple excess reimbursement claims throughout the year, up to the maximum policy limit.
Get an Excess Protection Insurance Quote
Our experienced team will discuss your current Motor Trade Insurance policy, explain the available options, and help you find suitable cover at a competitive price.
Call 01323 446 485 or visit our Contact Us page to speak with a Motor Trade Insurance specialist and get an Excess Protection Insurance quote today.
