To shield yourself from potential unexpected costs, it may be worth considering a vehicle service contract when you buy or own an EV. A vehicle service contract is an agreement that covers the expenses of certain repairs for a specific period. These contracts are typically available from a dealer or third-party provider and can be purchased for both new and used vehicles.
By investing in a vehicle service contract, owners can enjoy peace of mind, knowing that they won’t have to bear the burden of repair costs out of pocket. While these contracts do come at an additional expense, they can save owners a significant amount of money over the life of the vehicle. Many vehicle service contracts cover items such as battery replacements and motor repairs which can be costly if paid for out of pocket.
Below are 6 examples of vehicle protection products tailored for EVs, though coverage will vary depending on the specific terms found in the contract:
- Comprehensive Vehicle Service Contract: This contract covers repair costs for a new or pre-owned car for a specific period. It can be an excellent choice when purchasing a vehicle or when your basic limited factory warranty has expired, ensuring unexpected costs won’t catch you off guard and help your car stay in good condition.
- Tire and Wheel Contracts: This covers the expenses of repairing or replacing your car’s tires and wheels if they get damaged. This is particularly important as tire and wheel repairs can be quite costly, especially if you own a high-end vehicle with expensive wheels.
- Environmental Protection Products: This product is designed to safeguard your car from environmental damage, such as bird droppings, tree sap, and harmful UV rays. It can be applied to your car’s exterior and interior to help keep it looking new.
- Excess Wear and Tear: This covers repair costs for excessive wear and tear on your car. This can be important if you lease your car and are worried about being charged for excessive wear and tear when you return it.
- PDR (Paintless Dent Repair): PDR is a service that removes small dents and dings from your car’s exterior without the need for repainting. It’s a cost-effective way to repair minor damages, preserving the appearance of your vehicle while avoiding expensive bodywork.
- Key: This coverage ensures that the cost of replacing your car’s keys is taken care of in case they are lost, stolen, or damaged. With modern car keys becoming increasingly advanced and expensive to replace, key insurance is a valuable addition to your overall coverage.
