New Warranty Solution For Used EVs

For drivers and insurers it’s good to know that some companies are stepping up on used EV warranty offers;

Warranty Solutions Group (WSG) has launched a new direct-to-consumer electric vehicle warranty as record numbers of used EVs move beyond their manufacturer warranties and the cost and complexity of specialist repairs continue to rise.

The launch comes at a pivotal moment for the UK’s electric vehicle market. Thousands of former company cars and leased EVs are now entering dealerships as manufacturer warranties begin to expire, creating a growing market of motorists seeking greater confidence around long-term ownership costs and protection against unexpected repair bills.

Unlike the first generation of EV owners, today’s buyers are asking different questions. Five years ago, the conversation centred on battery range and charging infrastructure. Today, buyers want to know which models are proving reliable, what faults they are most likely to experience and how much repairs are likely to cost once the manufacturer’s warranty has expired.

Recent analysis from WSG’s EV Market View Report highlights why warranty protection is becoming increasingly important for used EV owners. The research found that specialist labour now accounts for almost one-third of the average EV repair bill, with labour rates averaging £92.04 per hour. While battery failures represented just over two per cent of warranty claims, repairs involving charging systems, electronics and vehicle sensors are becoming increasingly common as electric vehicles mature.

One of the study’s most significant findings concerned charging-system repairs. Although charger port faults accounted for only a small proportion of warranty claims, they generated average repair bills of £1,881.66, making them one of the most expensive recurring repairs identified by WSG’s claims data.

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.”