Zurich UK launches new small fleet cover for electric vehicles

Zurich UK has enhanced its SME motor policy to help businesses respond to the electric vehicle revolution.

With new petrol and diesel cars set to be banned from sale after 2030, Zurich has added new cover and wording to its small fleet policy for firms with between two and 20 vehicles.

In an industry-first, Zurich will offer a like-for-like electric vehicle replacement when customers use one of its approved repair networks.

It comes as two fifths (40%) of consumers - the highest percentage of those polled by Zurich - ranked concern for the environment as their number one reason for going electric. ⁽¹⁾

Under its new proposition, Zurich will cover damage to vehicle batteries independent of any wider damage to the vehicle, such as in the case of a power surge.

The insurer has also added new definitions and cover for loss or damage to charging cables and stations.

Other changes included clarifying the extent of liability arising from any damage or injury resulting from charging a vehicle.

Will Edwards, Zurich’s Head of SME, said:

“We are committed to supporting SMEs as they respond to the electric vehicle revolution and make their day-to-day operations more sustainable.

“We have enhanced our SME motor policy to futureproof cover for customers and meet the evolving needs of modern fleets.

“This will ensure our policy remains at the forefront of the market for customers and brokers, supported by our specialist SME underwriters and expert claims and risk management teams.”

Zurich already offers electric vehicle cover for large commercial and mid-market customers.

Last year, the insurer announced it was partnering with Synetiq to offer green parts in its repair process. By extending the life of parts that would otherwise be scrapped, it reduces the carbon emissions associated with making a new component.

⁽¹⁾ Research carried out with 146 members of Zurich’s online community of consumers