BOCA RATON, Fla.— IWS Acquisition Corp. said it has introduced its new Electric Vehicle Mechanical Breakdown Insurance (EVMBI) for California.
IWS said it will offer its MBI Supreme Plus coverage on all eligible electric vehicles. The IWS Supreme Plus EVMBI will cover major electric vehicle components such as the electric battery, drive/traction motor, electric power control unit, power inverter module and on-board charger, according to the company.
The EVMBI Supreme Plus features include, optional deductible plans, towing services, rental reimbursement, roadside assistance, and more. The Supreme Plus Coverage even includes Home Charging Station protection, the company stated.
“An EVMBI offers comprehensive, named-exclusion coverage for virtually all vehicle mechanical and electrical components designed to supplement the original full factory warranty and, in some cases, may even enhance it,” the company said.
Eligibility for the IWS EVMBI extends to vehicles from current model year and up to 12 years old with up to 84,000 miles at the time of warranty purchase. ‘
‘Essential’ for Members
“California has more electric vehicles registered than any other state which makes it essential to have this industry-leading coverage available to credit union members,” said IWS President Eric Wikander. “We partnered with our insurance provider to bring this electric-specific product to market in California and are excited that we now have mechanical protection plans available for most consumer driven vehicles in California.”
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