Hidden in the Fine Print: The Insurance Clause Every Electric Car Owner Must Know
Description
Insurance policies for electric cars contain hidden clauses that could cost owners thousands when battery packs need replacement after accidents. Betterment charges—the requirement for owners to contribute toward new replacement parts—are particularly concerning with EV batteries that can cost £20,000-£30,000.
• Dealership staff knowledge about EV implications remain generally poor despite government-endorsed training programs
• Betterment occurs when insurance repairs leave your car in better condition than before the accident
• Insurance companies typically refuse battery repairs, opting for full replacement due to safety concerns
• Older EVs face higher betterment charges as replacement batteries restore capacity and range
• Insurers hide betterment clauses using terms like "like kind and quality" or "pre-accident condition"
• Insurance companies currently pay £1.13 for every £1 collected, suggesting tighter claim controls ahead
• AI tools can help analyze insurance policies to identify potential betterment clauses
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