Zurich introduces vehicle protection products tailored for electric vehicles

Expanded suite of Finance & Insurance (F&I) products addresses the emerging and evolving needs of the automotive industry.

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Zurich North America

Nov 29, 2021, 11:38 ET

SCHAUMBURG, Ill., Nov. 29, 2021 /PRNewswire/ -- Zurich North America today announced an enhanced suite of vehicle protection products designed to meet the unique needs of electric vehicle (EV) owners. The comprehensive set of products provides coverage from the repair or replacement of high-voltage rechargeable batteries to roadside assistance for recharging EV batteries that run out of power mid-trip. The suite of products covers nearly all manufacturers including Tesla, Rivian and Polestar.

The offering represents new investment in products and services to support Zurich's automobile dealership customers and has the potential to help dealerships diversify their revenue streams through the F&I office and the service lane.

"As a leading provider of vehicle protection solutions in the U.S., we remain committed to introducing products and services that will meet the evolving needs of our customers," said Vince Santivasi, Head of Direct Markets for Zurich North America. "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 potential high cost of electric vehicle ownership."

An electric vehicle operates on an electric circuit run by computers. Repairs on items such as an electronic display screen can cost thousands of dollars. A high-voltage battery is one of the most expensive components in an EV with average replacement costs of $5,500.

Zurich's EV protection products include:

Vehicle Service Contracts
Guaranteed Auto Protection (GAP)
Road Hazard Tire and Wheel
Environmental Protection Plan
Paintless Dent Repair
Key Replacement
Select Protection
Universal Security Guard^®
Lease Wear and Use

For additional details on Zurich's EV protection products visit https://www.zurichna.com/industries/auto/dealerships/electric-vehicle.

The EV suite of protection products supports Zurich's commitment to embracing sustainability in all aspects of business. Santivasi added, "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." Further, Zurich plans to switch its own fleet to electric and hybrid vehicles and be internal combustion engine-free in the coming years.

Zurich offers a full suite of vehicle protection products for gas-combustion, hybrid and electric vehicles. Zurich's F&I products are available to consumers through a nationwide network of franchised auto dealers.

Over the last 100 years, Zurich has evolved alongside its auto dealer customers, listening to their needs and challenges, and developing solutions that help accelerate their growth and protect their legacy. Zurich remains committed to helping dealers grow and protect their business. New investments including the implementation of new products and services are underway as the company prepares to mark 100 years of service to automobile dealerships. These investments address the ever-evolving needs of the dealership industry.

About Zurich North America

SOURCE Zurich North America