Pinnacle Warranties has launched its Enhanced EV/Hybrid Warranty, designed to address growing consumer concerns about the reliability and repair costs of used electric and hybrid vehicles.
With EV repair costs averaging up to 50% higher than those of comparable internal combustion engine (ICE) vehicles, the new warranty aims to support car dealers in marketing pre-owned EVs.
EVs feature specialised components such as high-capacity batteries, electric motors, and advanced power electronics, all of which are expensive to repair or replace. The high-voltage systems often require trained technicians and specialised equipment, further driving up labour costs.
Batteries are a particular concern due to their complexity and cost. Replacement prices can range from £4,000 to £20,000 depending on the vehicle model and battery size.
Pinnacle’s new warranty offers comprehensive coverage for vehicles up to 15 years old or with mileage up to 150,000 miles. It includes Coverage for key components such as AC/DC converters, inverters, and control modules; contributions toward the cost of battery replacements and support for other specialised EV/hybrid systems.
Anthony Marshall, director of Pinnacle Warranties, commented: “Our new warranty sets a new benchmark in addressing the unique challenges of EV ownership, helping to build confidence in the used EV market.
“EV drivers are increasing concerned about repair affordability, and this remains a significant barrier for many potential and current EV owners. EV repairs continue to be significantly higher than for internal combustion engine (ICE) vehicles.
“Our new EV/Hybrid warranty will support dealers across the UK with unparalleled coverage across a broader range of vehicles, providing cover for the complexity of EV diagnostics and software, and the higher repair bills.”
