Laid up vehicles - Commercial Lines

If your clients have taken the decision to register any of their vehicles as off the road (SORN) due to the impacts of COVID-19 - and have formally requested their vehicles to be “laid up” - we'll support your following clients:

1. Motor fleet clients

We’ll be happy to amend their policy cover to reflect the ‘laid up’ vehicles and provide your clients with an appropriate difference in risk premium. This will apply to policies on both a declaration basis and as and when basis. 

The vehicles will remain “laid up” until your client informs you they wish to place their vehicles back on full cover. At this time, an additional premium would be payable. For policies subject to declaration we will take into account any refund made when we calculate the final year-end declaration adjustment.

Please note, special type and agricultural vehicles are excluded from these arrangements.

2. Minifleet clients

You’ll be able to amend the policy coverage on Fast Trade. This will provide an appropriate difference in risk premium. The vehicles will remain “laid up” until you revisit Fast Trade and place their vehicles back on full cover. At this time an additional premium would be payable.

3. Motor trade clients

As we hold additional covers for their business (such as Property insurance) we'll recalculate their premium by removing any vehicles that are notified as off road from their ‘Road Risks’ section and move the exposure to their Property section, ensuring that the Sums Insured adequately reflect the additional exposure. 

As there's no need to insure their vehicle for road use and any potential third-party claims, this will result in a return of premium for your client. Please note, we're only able to offer this option where the SORN vehicle is being stored at their commercial premises. When their vehicles are ready to go back on the road, we’ll increase the cover back to the level they require.

If you have any questions on any of the above, please speak to your local underwriter.