Get The Right Insurance Policy To Avoid Costly Battery Replacement: Guide

Feb 19, 2024

Just got your EV from the dealership? Now you need to make sure you have the right car insurance policy to avoid out-of-pocket expenses, especially in the event of a battery accident. Ev Accident Pro has you covered!

The US electric car market is booming, with sales forecast to see an 18.20% increase between 2024 and 2028 to hit a staggering $161.6 billion, according to Statista figures. Kelley Blue Book estimates, meanwhile, reveal that the EV share of the total US vehicle market reached 7.6% in 2023 from 5.9% in 2022, meaning a record 1.2 million car buyers chose to go green last year.

But the rise of electric cars brings about more questions surrounding EV ownership. One such question is insurance and the types of packages that suit the needs of EV drivers and their cars. Ev Accident Pro is here with all the details concerning EV coverage, particularly the implications of battery accidents and how they should be handled in the most optimal way    •visit to find out more!

With an electric car's battery identified as one of the most expensive parts to fix in an electric car, the expert advises vehicle owners to ensure they have an adequate insurance policy in place to cover any damage resulting from an accident.

In its guide, titled "Electric Car Battery Accident Insurance Coverage & Settlements Explained," Ev Accident Pro also delves into the types of battery accidents covered by insurance and the process of filing a claim with your insurance carrier.

"Replacing an electric car battery can cost anywhere between $5,000 to $20,000, depending on the make and model of your vehicle. With such a significant expense, relying on insurance can make a huge difference," Ev Accident Pro says.

Comprehensive Coverage: The Key to Protecting Your Electric Vehicle's Battery

The EV expert recommends you opt for a comprehensive insurance policy as it features coverage for all types of accidents that are not generally included in standard collision insurance, such as battery-related accidents. Such a policy would typically cover battery-related damages resulting from collisions, thermal runaway, electrical issues during charging, or destruction resulting from environmental factors such as flooding or fire.

Ev Accident Pro also encourages you to explore the add-ons available to you for an extra premium, such as charging equipment coverage, to ensure robust financial protection.

Filing a Claim: Steps to Ensure Proper Compensation for Battery Damage

If an EV battery accident occurs, EV Accident Pro advises you to notify your insurer about the mishap immediately. You also need to collect all essential paperwork, including accident reports, photographs of the damage, receipts for emergency repairs or towing services, and to adhere to your insurance provider's procedure for submitting a claim, which may involve an evaluation by a claims adjuster.

"Your insurance company will assess the damage to your electric car's battery and provide a settlement offer based on their evaluation," the guide explains. "It’s important to understand that you have the right to negotiate this offer, especially if you feel it doesn’t cover the full extent of the damage."

Real-Life Stories: Successful EV Battery Malfunction Claims

If you are curious, you can take a look at several examples of EV battery malfunction cases with favorable outcomes shared by Ev Accident Pro's readers. In one of the cases, the driver experienced a sudden battery failure while on a regular drive. Thanks to the battery accident add-on in their insurance plan, the insurance company handled all expenses for battery replacement and labor, allowing them to get back on the road without paying anything out-of-pocket.

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