The used car platform Motorway is introducing a new insurance solution aimed at protecting dealers from mechanical and electrical problems when purchasing pre-owned vehicles online.
In collaboration with Opteven, a company that specializes in warranties and mechanical breakdown coverage throughout Europe, Motorway Protect offers dealers coverage for repair costs up to £5,000 for a fee of £29.99 per vehicle.
This insurance policy, which is regulated by the FCA, is designed to shield dealers from unexpected mechanical issues, helping them preserve their profit margins when acquiring inventory online.
Motorway Protect is applicable for vehicles that are up to 10 years old and have fewer than 100,000 miles on the clock, making it a versatile option for a variety of used cars.
Coverage activation occurs the day after payment, and dealers can easily file claims through an online portal that is available 24/7. This portal allows for quick claim submissions, typically resulting in a decision within two hours.
James Wilson, COO of Motorway, stated: “Every product and feature we introduce—ranging from speedy, secure payments with Motorway Pay to seamless transport with Motorway Move—is designed to improve the car-buying experience for our dealer partners. Motorway Protect is no exception.
“We recognize that unforeseen mechanical and electrical problems can be both costly and time-intensive. To mitigate this, we’re launching Motorway Protect, a top-tier product supported by reliable partners, all at a highly competitive price. The streamlined claims process and swift decision-making facilitate a hassle-free experience, ensuring that dealers’ profit margins are protected. We are excited to provide this offering to our dealer partners.”
James Barr, head of national programmes at Opteven, added: “Motorway is committed to creating a better car market for everyone by utilizing technology to enhance the overall experience. In partnership with Opteven, this vision has been further advanced by offering a top-notch insurance solution that gives retailers added confidence when using Motorway.”
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