Are You Sure it’s Yours to Sell?
Wrongful Conversion Insurance can help ease your doubts by covering the costs of a vehicle you’ve sold which is not legally owned by you.
So you’ve sold a vehicle that’s not legally owned by you? That’s awkward.
But more than that, it’s expensive. Legal owners can step out at any time, even after an unsuspecting new owner has driven it off the forecourt.
Wrongful Conversion Insurance helps you avoid the expense when a vehicle is returned to its rightful owner, which is commonly a hire purchase company further down the chain.
Subject to the way you paid for the car and whether you subscribe to H.P. Information or Experian,you can be covered from anywhere between £10 and £50K.
Indemnity limits are calculated depending on turnover and will be the total amount payable during your policy period.
So while it may not be able to save you from uncomfortable conversations with your buyers, Wrongful Conversion Insurance can at least give you a financial prop when needed.
Call the team at Rollinson Smith to find out more and get a quote.