Zurich launches coverage suite for electric vehicles

Forecasts predict that EVs will account for nearly half of all new cars sold in 2030

Zurich launches coverage suite for electric vehicles

Insurance News

By Ryan Smith

Zurich North America has announced the launch of an enhanced suite of vehicle protection products designed for electric vehicle (EV) owners.

The products provide coverage for electric vehicles from the repair or replacement of rechargeable batteries to roadside assistance for recharging EV batteries that run out of power mid-trip. The product suite covers nearly all EV manufacturers, including Tesla, Rivian and Polestar.

“As a leading provider of vehicle protection solutions in the US, we remain committed to introducing products and services that will meet the evolving needs of our customers,” said Vince Santivasi, head of direct markets for Zurich North America. “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.”

Repairs on EV components like electronic display screens can cost thousands of dollars, according to Zurich. High-voltage batteries are among the most expensive EV components, with an average replacement cost of $5,500.

Zurich’s EV protection products include:

  • Vehicle service contracts
  • Guaranteed auto protection
  • Road hazard tire and wheel
  • Environmental protection plan
  • Paintless dent repair
  • Key replacement
  • Select protection
  • Universal Security Guard
  • Lease wear and use

Read next: Zurich reveals new oil & gas policy – climate lobbyists react

“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,” Santavisi said.

Zurich plans to switch its own fleet to electric and hybrid vehicles and be internal combustion-free in the coming years, the company said.

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