Warning: Motor traders need to be aware of this new scam by organised criminals

In recent years, there has been a spike in the number of Wrongful Conversion claims being submitted to insurers. This is because organised crime groups are targeting motor traders, selling them vehicles that are not legally theirs to be sold. These criminals seem to have picked up on the fact that it can take up to two weeks for vehicle check systems to be updated, meaning you, the dealer, can do everything you can and still get caught out, leaving you out of pocket.

Wrongful conversion cover isn’t normally included as standard within a Motor Trade policy; it is often an optional extra that is overlooked by motor traders who think this won’t happen to them.

We have seen more claims submitted for wrongful conversion in the last two years than we did in the previous 10 years combined.

How can Aston Lark help to protect you against this scam?

We can arrange cover for Wrongful Conversion to protect your business against this type of financial loss. You choose an indemnity amount based on the type of used vehicles you purchase.

These claims are subject to you carrying out a vehicle check to prove that the vehicle is not marked as stolen or has HPI outstanding.

As a specialist in the Motor Trade industry we work closely with MotorCheck, the leading vehicle history check information company in the country, to provide this cover for you. MotorCheck is not only cheaper than HPI/Experian but also provides more comprehensive searches (see below).

Source: motorcheck.co.uk

Aston Lark’s scheme with AXA is believed to be the only Motor Trade product in the market that recognises MotorCheck.

If you are using MotorCheck and you have wrongful conversion cover with another insurer, you might not be meeting the terms of your policy.

All you need to do to protect yourself

Speak to Aston Lark. If you would like to discuss this further, please contact us on:

• 01732 872 899
• [email protected]
• or request a call back here

For more information about MotorCheck, please visit their website.

As an added benefit, if you don’t currently use MotorCheck, sign up for your new account and you will receive £20* MotorCheck credit*.

If you would like us to contact you closer to your renewal to discuss it further, please feel free to complete our renewal reminder form here and just quote MotorCheck.

*MotorCheck reserves the right to withdraw the financial promotion at any time. This offer is available until Friday May 28, 2021.