‘Benchmark’ EV warranty tackles used repair concerns

Vehicle warranty specialist Pinnacle has launched an enhanced EV warranty providing peace of mind for owners of cars up to 15 years old.

In line with soaring sales of used EVs and consumer concerns about the reliability and repair costs of used all-electric and hybrid vehicles, Pinnacle Warranties has introduced its Enhanced EV/hybrid warranty.

The warranty offers comprehensive coverage for vehicles up to 15 years old or with mileage up to 150,000 miles. It covers key drivetrain components such as AC/DC converters, inverters, and control modules.

While battery failure and degradation are less of an issue than often reported, the warrant also factors in consumer concerns over the price of replacement batteries. With replacement drive batteries costing between £4,000 and £20,000 depending on the vehicle, the warranty includes contributions towards the cost of a new battery, plus support for other specialised EV and hybrid systems.

Alongside the costly nature of replacement batteries, the warranty also factors in the higher labour costs of specialists who repair key EV and hybrid components such as electric motors, and advanced electronics systems.

Anthony Marshall, director of Pinnacle Warranties claimed that the warranty set a new industry benchmark and would help the United Kingdom’s motorists make the transition to an electrified vehicle.

“Our new warranty sets a new benchmark in addressing the unique challenges of EV ownership, helping to build confidence in the used EV market,” he said. “EV drivers are increasingly concerned about repair affordability, and this remains a significant barrier for many potential and current EV owners.

“EV repairs continue to be significantly higher than for internal combustion engine (ICE) vehicles. Our new EV/hybrid warranty will support dealers across the UK with unparalleled coverage across a broader range of vehicles, providing cover for the complexity of EV diagnostics and software, and the higher repair bills.”