Zurich UK has enhanced its commercial motor policy for SMEs looking to get into electric vehicles for their fleet.
The insurer’s small fleet insurance – for firms with between two and 20 vehicles – now has new cover and wording specific to electric vehicles. The insurance will cover for damage to vehicle batteries independent of any wider damage to the vehicle, like in cases of a power surge. New definitions and cover for loss or damage to charging cables and stations have also been added.
And in an industry-first, Zurich will also offer clients a like-for-like electric vehicle replacement when clients use one of its approved repair networks.
“We are committed to supporting SMEs as they respond to the electric vehicle revolution and make their day-to-day operations more sustainable,” said Zurich head of SME Will Edwards.
Edwards added that the enhancement ensures that Zurich’s product is “futureproofed” and meets “the evolving needs of modern fleets.”
Other changes to the SME fleet insurance policy include clarifying the extent of liability arising from any damage or injury resulting from charging a vehicle.
Zurich currently offers electric vehicle cover for large commercial and mid-market customers.
Zurich Insurance Group, parent company of Zurich UK, recently announced that it was setting its net zero emissions goal to 2030. The insurance company said that it has signed carbon removal agreements with nature-based solutions suppliers, namely Australia-based InterEarth, Puerto Rico’s Bio Restorative Ideas, and US firm Oregon Biochar Solutions. Zurich chose these suppliers as they have the biggest impact on the development of the carbon removal industry.
