Vero launches enhanced motor fleet insurance with electric vehicle benefits
The rise of electric vehicles (EVs) has contributed to transforming the transportation industry , offering exciting opportunities for more sustainable and cost-effective fleet management. But for businesses operating EV fleets, this transition also introduces new challenges, particularly when it comes to insurance needs. At Vero, we’re pleased to announce the launch of our enhanced Motor Fleet Insurance—with EVs in mind.
Why Fleet Managers Need EV-Specific Insurance
Businesses managing EV vehicles can face different risks compared to those with traditional Internal Combustion Engine (ICE) vehicles. With advances in technology and the growing reliance on EVs, it’s crucial to have an insurance solution that evolves alongside these changes. The enhancements to Vero’s Motor Fleet Insurance can offer comprehensive protection and peace of mind for organisations as they adapt to the electric revolution.
What’s New in Vero’s Motor Fleet Insurance for EVs?
Our new policy enhancements address risks associated with EVs to provide better coverage. Key improvements include:
- Charging Risk Coverage: Cover for legal liability while charging an EV at a public or private charging station.
- Extended New for Old Replacement: We've increased the replacement period from 2 years to 3 years for EVs, ensuring clients gain greater value in the event of a total loss claim.
- Towing for EVs: Coverage for the reasonable cost of towing an EV (full EVs only) that has run out of charge to the nearest charging station, with no excess applied.
- New Definitions: Introduced new definitions for terms such as Thermal Runaway and Battery Electric Vehicles (BEVs) to provide better understanding of the coverage
These enhancements underline Vero’s commitment to helping businesses keep up with evolving trends , offering innovative and reliable insurance solutions for the modern challenges of fleet management.
Supporting Your Clients’ Transition to Electric Fleets
Richard Sandow, Vero’s Commercial Fleet Portfolio Manager, explained:
At Vero, we’re demonstrating a customer-centric approach by addressing current and emerging risks faced by fleet operators. Our support ensures your commercial clients can transition to electric fleets with confidence while benefiting from our market-proven insurance solutions.
Whether it’s liability during charging specialised towing coverage or improved terminology, Vero’s enhanced Motor Fleet Insurance sets a high standard for comprehensive EV fleet protection.
Learn More About Our Enhanced Policy
If you’d like to understand more about how Vero’s Motor Fleet Insurance can help protect your clients’ electric fleets and support their changing business needs, please contact your local Vero representative today.
With Vero, your clients can confidently power their fleets into the future.
Disclaimer:
Insurance issued by AAI Limited ABN 48 005 297 807 trading as Vero Insurance. Limits, conditions and exclusions apply. Read the Product Disclosure Statement before buying this insurance. Target Market Determination is also available. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it. The information is intended to be of a general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon it – please make your own enquiries.
