12:12 pm, October 23, 2024
Used car marketplace Motorway has launched a new insurance product to protect car dealers when buying stock online.
Motorway Protect is powered by warranty provider Opteven and will provide dealers with protection against sudden and unforeseen mechanical and electrical issues discovered after purchasing a vehicle.
Motorway said the policy aims to ‘protect dealers from thousands of pounds in unexpected repair costs, preserving their margins’.
The insurance policy costs £29.99 with claims being managed through an online portal, with submitted claims being decided upon with two hours.
Motorway Protect is valid from the day after payment and is eligible for vehicles up to 10 years old and 100,000 miles, with a limit of up to £5,000 per claim.
Motorway COO James Wilson said: ‘Every product and feature we launch, from fast, secure payments with Motorway Pay to hassle-free transport with Motorway Move, aims to enhance the car-buying experience for our dealer partners. Motorway Protect is no different.
‘We know that unexpected mechanical and electrical issues can be costly and time-consuming. To address this, we’re introducing Motorway Protect, an industry-leading product, backed by trusted partners, at a highly competitive rate.
‘The easy claims process and quick decision-making ensures a hassle-free experience, protecting dealers’ margins. We’re thrilled to offer this to our dealer partners.’
James Barr, head of national programmes at Opteven, added: ‘We are really excited to be partnering with Motorway. Motorway has a vision to build a better car market for everyone, harnessing the power of technology to deliver an amazing experience.
‘In partnership with Opteven, this experience has now been further enhanced through the provision of a market leading insurance solution to give retailers that additional level of confidence when using Motorway.’
Picture top: the Motorway executive team
