Insurers plan performance-linked battery cover as EVs gain traction

Insurers are adapting motor insurance for electric vehicles (EVs) to address battery-related risks, a major EV cost component. Performance-linked battery failure coverage is being developed, unlike internal combustion engine (ICE) vehicles where claims are mainly accident-related. Insurers are collaborating with automakers to create specialized covers, including residual charging protection and performance guarantees, reflecting the unique needs of EVs.

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