Zurich North America has launched a suite of auto insurance offerings designed to meet the needs of electric vehicle (EV) owners.
The new suite of insurance provides coverage for repair, battery replacement and roadside assistance for recharging EV batteries among others.
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By GlobalDataZurich’s offerings said to cover nearly all EV manufacturers including Tesla, Rivian and Polestar.
Zurich North America head of direct markets Vince Santivasi said: “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 potentially high cost of electric vehicle ownership.
“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.”
An EV runs on electric circuits, computers, batteries, and motor(s), with the battery being one of the most expensive components to repair.
The new EV insurance offering includes vehicle service contracts, guaranteed auto protection, road hazard tire and wheel, environment protection plan, paintless dent repair and key replacement among others.
Notably, Zurich also plans to replace its fleet of traditional vehicles with electric and hybrid vehicles.
Earlier this month, Swiss Re and Chinese technology company Baidu joined forces to develop the autonomous driving industry by creating new insurance products and providing risk management expertise.
