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Does Motor Trade Insurance Cover Loss of Earnings?

Known as Uninsured Loss Recovery (ULR), this is sometimes offered as additional coverage to clients who already hold an existing commercial motor trade insurance policy. ULR is not usually provided with motor insurance, but can be purchased through a broker or insurer – usually referred to as ‘legal expenses insurance’.

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What is Uninsured Loss Recovery?

These are expenses incurred which are not covered by your insurance policy, with some examples including:

  • Alternative Travelling Expenses
  • Damaged personal items in excess of policy limit
  • Hire Costs
  • Incidental Expenses
  • Loss of Earnings
  • Loss of Use
  • Personal Injury
  • Policy Excess

Any uninsured losses can be recovered from the accountable party/their insurance company – meaning that they can only be recovered if you are not held fully or partially responsible for an accident.

How does ULR work?

Your comprehensive policy insures you for any repairs to your vehicle (which your insurer will receive from the party who caused the damage), however, they will not pay for any out-of-pocket expenses.

Would I be able to get my money back if I don’t have ULR?

If the accident was not your fault then you will be entitled to compensation – however, this is something you would have to negotiate on your own.

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Looking for a motor trade insurance quote?

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How can Unicom help?

We’ve been in the motor trade industry for over 20 years, and since our launch, have witnessed all types of claims and accidents. Our aim is to simplify motor trade insurance, and give expert advice to each and every one of our customers – and as a nationally recognised and regulated specialist, our team of professionals here at Unicom Insurance are ready to help you whatever your circumstances.

We’re proud to have safeguarded our clients with the very best protection policies, and we deal with all sorts of circumstances – right through from road risks to legal cover.

Simply provide us with your details (either through our online form or by phone with one of our advisors), and we’ll take it from there. So call us now on 01133 120 554 – our offices are open between 0900 to 1730 Monday to Friday.