Jackson Lee claims a market first for its hybrid and electric vehicle GAP cover
MGA highlights battery cover in new offering.
Jackson Lee Underwriting has claimed to have set a market first in its launch of a GAP policy for hybrid and electric vehicles.
The managing general agent (MGA) stated that in a total loss situation, the new Electric Vehicle GAP policy, provides an additional benefit for the ‘gap’ between the current value and the full cost of a replacement battery or the early termination charge on the lease.
According to the firm the battery accounts for up to 50% of the on the road electric vehicle price.
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