Is Extended Warranty Worth it for Electric Vehicles (EVs)? (2024)

As we become more eco-conscious, some of us are choosing to drive an electric or hybrid vehicle to improve our carbon footprint and reduce the amount of petrol and diesel cars on the road. In fact, electric car sales increased by 17.8% in 2023, highlighting the demand for more sustainable travel. Electric vehicle technology has improved greatly as well, but they can still be prone to failures. After the manufacturer warranty runs out, drivers could be leaving themselves vulnerable to expensive EV repairs. Luckily, there are EV extended warranty policies available to avoid this, but are they worth it?

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  • Can you get an extended warranty on electric vehicles?
  • Should I get an extended warranty for my EV?
  • What is covered under an EV extended warranty?
  • What are the key factors to consider when choosing extended warranty for your EV?
  • How much does an EV warranty cost?
  • How ALA EV warranty can help

Can you get an extended warranty on electric vehicles?

It is possible for an EV owner to get an extended car warranty for an electric vehicle. Extended warranties for electric vehicles operate much like those for traditional petrol and diesel vehicles. They offer an additional layer of protection beyond the manufacturer’s warranty, providing peace of mind and financial security against unexpected repairs.

EV extended warranties cover mechanical and electrical breakdowns for both fully electric and plug-in hybrid vehicles. Our electric vehicle warranty policies at ALA are divided into three levels of cover: Silver, Gold and Platinum, each with its own features and benefits to suit you. You can find out more about our EV warranty here. Our EV warranties are included as standard in our warranty policies.

Is Extended Warranty Worth it for Electric Vehicles (EVs)? (1)

Should I get an extended warranty for my EV?

While the decision ultimately depends on your individual circ*mstances and preferences, there are several compelling reasons to consider purchasing an extended warranty for your EV:

  • Complexity of EV Components: EVs consist of intricate electrical and mechanical components, including batteries, motors, and charging systems. Repairing or replacing these components can be costly, making an extended warranty a smart investment.

  • Long-Term Ownership: Many EV owners intend to keep their vehicles for an extended period. As EVs age, the likelihood of mechanical issues may increase, making an extended warranty valuable for long-term ownership.

  • Resale Value: Having an extended warranty can enhance the resale value of your EV. Prospective buyers often view a vehicle with warranty coverage as more desirable and are willing to pay a premium for that peace of mind.

By inputting a few small details about your vehicle, you can find out how much our EV warranty policies could cost you in seconds. You can start building your EV extended warranty quote here.

What is covered under an EV extended warranty?

Coverage can vary depending on the specific plan chosen. However, basic coverage includes:

  • The EV system: this includes the electric motor, traction motor inverter, onboard charger and electric car battery.

  • Electrical components such as the alternator, indicator relay and horn unit. These components are available on our silver policy, whereas our comprehensive platinum policies cover all parts.

  • Brakes are also covered in our electric vehicle extended warranty policies at ALA, as they are subject to frequent wear and tear.

  • Suspension and steering cover are included in our silver car warranty package, including the steering rack and pinion, steering box and idler box.

  • Engine components are also covered for hybrid vehicles, including the oil pump, hydraulic lifters and small end bearings.

You can find out more about what our different warranty policy levels cover here.

Is Extended Warranty Worth it for Electric Vehicles (EVs)? (2)

What are the key factors to consider when choosing extended warranty for your EV?

When evaluating extended warranty options for your EV, consider the following factors:

  • Coverage Limits: Review the coverage details carefully to understand what is included and excluded from the car warranty plan.

  • Deductibles: Determine if the warranty requires you to pay a deductible for each repair visit and assess whether the deductible amount is reasonable.

  • Provider Reputation: Choose a reputable warranty provider with a history of prompt claims processing and excellent customer service. We have a 92% five-star rating on Trustpilot out of almost 17,000 reviews (Feb 2024), so you can rest assured that you are in good hands.

  • Transferability: If you plan to sell your EV before the warranty expires, opt for a warranty plan that is transferable to the new owner. This can enhance the resale value of your vehicle.

How much does an EV warranty cost?

The cost of an EV extended warranty can vary based on factors such as the age and mileage of the vehicle and the level of coverage selected. By entering your reg number and mileage, you can find out how much you EV extended warranty policy could cost you, no matter whether you choose to pay in full or pay monthly.

You can start building your EV warranty quote here.

How ALA EV warranty can help

At ALA, we offer comprehensive extended warranty coverage to help you avoid expensive repair costs once your original warranty runs out. Our plans provide protection against costly repairs, ensuring that you can enjoy your EV with confidence and peace of mind. With ALA, you’ll benefit from:

  • Extensive Coverage: ALA’s EV warranties cover a wide range of mechanical and electrical components, including the EV battery, motor, and charging systems.

  • Affordable Plans: ALA offers competitive pricing on their extended warranty plans, making them accessible to EV owners of all budgets.

  • Exceptional Service: ALA is committed to providing exceptional customer service, with prompt claims processing and dedicated support to address any concerns.

We also provide GAP insurance to help protect your vehicle should it be declared a total loss (if it is written off or stolen).

To find out more about our electric car warranty cover, you can get in touch with us today.

What to read next

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Is Extended Warranty Worth it for Electric Vehicles (EVs)? (2024)

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