EV cover paused by John Lewis after underwriter's decision

author: FutureCar Staff    

John Lewis Financial Services, the lending arm of the department store, has announced that it will temporarily stop offering insurance to drivers of electric vehicles. The decision was made by its underwriter, Covéa, who raised concerns about the cost of repairing these vehicles. In a statement, John Lewis Financial Services stated that they have halted offering new policies and renewals for EVs while Covéa analyzes the risks and costs involved. It is important to note that this decision does not affect any existing policies or hybrid vehicles.

This decision comes at a time when there has been a significant shift in motorists' preference for electric vehicles. According to a report by Allianz Partner, the majority of road users (60%) are interested in making the switch, and there are now more electric vehicles available in the market. In 2021, there were 450 models available, twice the number from 2018.

However, there are concerns about the risks associated with electric vehicles, particularly for emergency service workers. Two of the leading dangers they face when responding to road accidents involving EVs are lithium-ion battery fires and electrocution. Lithium-ion batteries can catch fire due to overheating, penetration, or overcharging. Richard Dunbar, a former chief fire officer and now managing director at a fire safety consultancy, emphasized the importance of having the right knowledge about EVs to protect first responders and save precious seconds during the golden hour, when prompt medical treatment can make a significant difference in preventing death.

FutureCar Staff