WSG unveils used electric vehicle warranty
Warranty Solutions Group has unveiled a new electric vehicle warranty product for used models that have exceeded their original warranty.
The direct-to-consumer warranty has been launched as a growing number of used electric vehicles enter the market, raising concerns around higher repair costs.
WSG data has found that the average hourly labour rate for electric vehicles has risen to £92.04, with charging-port faults averaging £1,881 to repair.
Meanwhile, faults involving charging systems, electronics and vehicle sensors are also becoming more common as the used electric vehicle car parc matures.
Cost of ownership
Dennis Brett, claims director at Warranty Solutions Group, said: “Electric vehicles have matured enormously over the past decade, but so too has the conversation around ownership.
“Five years ago motorists wanted reassurance about battery range and charging infrastructure. Today they’re asking what happens once the manufacturer’s warranty expires, how much repairs are likely to cost and which vehicles are proving dependable in the real world.
“Our new EV warranty has been developed to give motorists straightforward protection at exactly the point where ownership becomes more uncertain. Whether it’s a charging-system fault, vehicle electronics or a major electrical repair, drivers want confidence that unexpected repair bills won’t undermine the benefits of switching to electric.
“As more used EVs enter the market over the next few years, independent claims data and specialist warranty protection will become increasingly important in helping motorists buy with confidence.”
