Zurich North America has launched a suite of protection products for electric vehicles (EV), which cover the repair or replacement of high-voltage rechargeable batteries.
The suite also provides roadside assistance for recharging EV batteries that run out of power mid-trip.
Zurich – an insurance company – says an EV operates on an electric circuit run by computers, with repairs on an electronic display screen potentially costing thousands of dollars.
A high-voltage battery is one of the most expensive components in an EV with average replacement costs of $5,500, the company adds.
Vince Santivasi, head of direct markets for Zurich North America, says: "With forecasts predicting EVs will represent nearly half of all new cars sold in 2030, Zurich's EV protection products are now in place to provide assurance to EV owners and help them manage the potential high cost of electric vehicle ownership."
Other products in the suite include vehicle service contracts, road hazard tyre and wheel, environmental protection plan, paintless dent repair, key replacement and universal security guard.
“This offering now allows our auto dealership customers to provide a layer of protection for car buyers who are committed to sustainability and are investing in vehicles with lower emissions,” Santivasi adds.
