Actual cash value (ACV)
A vehicle's value immediately before a covered loss, determined under the policy and local rules.
Read definitionThe language of electric-car cover
Plain-English explanations of EV insurance, batteries, repairs, claims and charging terms. Policy language and legal meanings can vary by location.
A vehicle's value immediately before a covered loss, determined under the policy and local rules.
Read definitionThe gradual reduction in an EV battery's ability to store energy as it ages and is used.
Read definitionA vehicle-maker warranty that may cover specified battery defects or capacity loss under stated conditions.
Read definitionA policy term whose scope varies by market; in many U.S. auto policies it refers to specified non-collision losses.
Read definitionThe part of a covered claim that the policyholder is responsible for, as described in the policy.
Read definitionOptional protection that may address some of the difference between an eligible vehicle-loss settlement and an outstanding finance balance.
Read definitionParts made by or for a vehicle manufacturer; repair policies may treat them differently from alternative parts.
Read definitionA claim outcome where a vehicle is treated as a total loss under the applicable policy and local rules.
Read definition