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New covers for EV-related issues

Drivers of commercial electric vehicles in Japan will soon have new insurance covers available for issues connected with their vehicles.

Manufacturer of trucks and buses, Mitsubishi Fuso Truck and Bus (FUSO) in collaboration with Tokio Marine & Nichido Fire Insurance will launch the new product soon.

The new insurance policy is aimed at helping out truckers if their vehicles run out of power while delivering cargo. The policy will cover the cost of alternative transportation.

The cover will be mainly available to freight carriers leasing Mitsubishi Fuso's EV trucks to be launched early next year. It will pay up to around $340 for one claim a year during the leasing period.

FUSO head of customer service Ohbora Wataru said, "Many drivers are apprehensive when driving EV trucks that are totally new to them. We hope our effort will help ease their concerns." Industry sources say the insurance policy is the first insurance cover of its kind in Japan.

Another product on similar lines by Mitsui Sumitomo Insurance caters to providers of EV car-sharing services. It covers repair costs if charging facilities managed by policy holders are damaged. It also pays the expense of having to use alternative stations.


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