When you can't resist the temptation to add to your vehicle collection, how reassuring would it be to know that you've got cover for a new purchase from the moment you buy it?
Thankfully, when you insure through Lockton Performance, covering additions to your collection is very simple.
Our policy will cover a new purchase as soon as you acquire the vehicle, for up to 10% of the combined total of all of your vehicles and with a maximum of £1,000,000. If your new vehicle is worth more than £1,000,000, you will need to contact us to add to your policy straight away.
This covers damage to the vehicle only and not while it's being driven. Cover for theft will only operate if there are visible signs of forced or violent entry. You have 14 days to tell us that you've bought a new vehicle and there will be a premium payable from the date of purchase through to your net renewal date.
If you prefer, you can of course still contact your Client Manager to organise full cover from the date you are collecting your new car so that you can drive it away without fuss; the extension is designed to cover the car before you take delivery so you are not reliant on someone else (such as a dealer or particularly a private seller) to insure the vehicle against any damage.
A motor trader should have suitable cover for a vehicle once it has been sold but before it is collected however, it's always worth checking with the dealer from whom you are buying a new car. Your vehicle will be insured in exactly the same way as a car being either worked on or sold on a sale or return basis.
Private sellers don't have the same obligation and may cancel any cover they have on a vehicle as soon as it's sold and paid for. Whilst you may be less inclined to leave a car which you own with its previous owner once you've paid for it, there may be circumstances where this is unavoidable.
If you are considering adding to your collection why not call Lockton Performance today – we will be only too happy to answer any questions you may have and explain the options available to you.