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Insurance for the automotive sector
The automotive sector works with lean supply chains, very strict quality requirements and high-value stock. A failure at any point ripples through the entire chain.
Activities we advise on
Oller Brokers has been an insurance broker since 1952. It advises automotive companies on the design, placement and review of their insurance programmes, with access to more than 70 insurers.
We advise manufacturers, suppliers and distribution groups. We review the entire insurance programme or the policy that carries the most weight, such as product or fleet, to improve cover and terms.
- Automotive groupsGroups with several plants or dealership networks, including those with subsidiaries in other countries.
- Vehicle and component manufacturersVehicle manufacturers and suppliers of parts, systems and components, etc.
- Dealerships and aftersalesDealership groups, workshops, spare parts, aftersales services, etc.
- Rental and leasingVehicle rental, leasing, fleet management, etc.
Risks and cover
Choose a risk to see which insurance covers it in the programme of a company in the sector.
Risk
Product liability
Claims for defective parts, often involving contractual requirements imposed by manufacturers.
How it is covered
Risk
Recall campaigns
Costs of removing or replacing components already fitted to vehicles.
How it is covered
Risk
Downtime and dependency
A loss at the plant or at a key supplier can halt deliveries.
How it is covered
Risk
Vehicle stock
Vehicles in showrooms and storage yards exposed to damage, theft and weather events.
How it is covered
Risk
Fleets
Claims experience and cost of owned or rented fleets.
How it is covered
Insurance they typically need
Every company is different. These are the policies that carry most weight in the programme of a company in the sector.
- All risks property damageBuildings, machinery and stock against any damage not excluded.
- Business interruptionYour margin and fixed costs while operations are halted by a loss.
- General and product liabilityDamage to third parties caused by the business activity or by its products.
- Product contamination and recallCosts of withdrawing a batch from the market and resulting losses.
- FleetsCompany vehicles, on fleet terms.
- Goods in transitDamage to or loss of goods during transport.
- Trade credit insuranceCustomer non-payment due to insolvency.
- D&OClaims against directors and officers for their management decisions.
- International programmesCoordinated cover for subsidiaries and activities in other countries.
Two ways to get started
Full programme review
We analyse all your policies together: duplicated cover, gaps, sums insured, deductibles and exclusions. We then present alternatives from different insurers.
Review of a specific policy
A renewal with a premium increase, a contract requiring new cover or a poorly resolved claim. We examine that policy and look for better terms.
Large risk programmes
A medium-sized or large company does not need a stand-alone policy, but someone to design, place and defend a complete programme. That is what we have been doing since 1952. See more
- Risk analysisWe study the business's activities, facilities, contracts and claims history. Working with specialist firms, we also offer a risk management service.
- Properly valued sums insuredWe review insured values and business interruption so that a claim payment is not reduced due to underinsurance.
- Access to the whole marketMore than 70 Spanish and international insurers, underwriting agencies and Lloyd's through coverholders.
- Co-insurance and excess layersWhen a risk exceeds one insurer's capacity, we spread it through co-insurance and structure it in as many excess layers as needed.
- International programmesFor groups with subsidiaries outside Spain, we coordinate international programmes that comply with each country's regulations.
- In-house claims teamSupports the business from notification through to settlement and defends its position with the insurer.
Frequently asked questions
Does product liability cover a recall campaign?
It usually does not. Recall costs are insured under a specific policy, which should be checked against the requirements of your contracts with the manufacturer.
How is a dealership's stock insured?
With a property damage policy that includes vehicles in showrooms and storage yards, with limits set to maximum stock rather than average stock.
Do you handle large fleets?
Yes. We handle fleets of all sizes, from just a few vehicles to rental and leasing fleets.
Other sectors
Can't see your sector? We work with businesses in every field.
Let's talk about your business
We review your insurance programme, or the policy you're concerned about, with no obligation.