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Managing Electric Vehicles (EVs) Risks and Insurance
How does an EV car work?
There’s no greater likelihood of an EV car fire than a petrol or diesel engine car fire. However, lithium-ion batteries can start fires and even explode if they ignite or overheat. They have an aggressive fire type that spreads rapidly, can reignite and is challenging to extinguish, an issue, especially for firefighters.
There are also cyber threats associated with EV chargers. They’re vulnerable to cyber-attacks since they’re connected to the internet. Hackers could potentially access the charger’s system and take control of it, causing it to malfunction or even overcharge the battery, leading to explosions or fires.
How does an EV charger work
One of the main risks associated with EV chargers is the electrical hazard risk. The high voltage and current involved in charging an electric vehicle can be dangerous if not handled properly. A faulty charger could cause electric shocks or fires, leading to personal injury or property damage.
If the lithium-ion battery overheats or there is a fault, it can be an aggressive fire type that spreads rapidly and can reignite or explode. It’s therefore challenging for firefighters to extinguish.
If an EV charger cord runs across a pedestrian area, a passer-by could trip and fall over the power cord. It’s important to have public liability insurance to cover this risk, which is usually provided by the car insurer.
If someone is injured or their property is damaged due to a faulty EV charger, the owner of the charger should be responsible. This could be the charger manufacturer, the property owner where the charger is installed, or the charging network operator.
If you have an EV charger installed at home or in a strata block, it should be installed and maintained by a qualified electrician. Then if a visitor is injured or your home is damaged due to a faulty EV charger, your home insurer will repair any damage to the home and pay legal defence costs and damages if you’re found to be responsible. Your insurer will then look at taking action against the EV charger manufacturer or installer.
All information above has been provided by the author.
Adroit Insurance & Risk, ABN 75 078972 700, AFSL 244 348
This article originally appeared on Adroit Blog and has been published here with permission.
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