Potential Insurance Issues Around Electric Cars and even Bikes
As electric vehicle (EV) adoption grows, community association board members and managers must understand potential insurance issues to address associated risks effectively. With more residents owning EVs, associations must consider the installation of charging stations, increased electrical load, and potential fire risks.
Knowledge of insurance implications, such as coverage for charging infrastructure, liability for accidents or damages related to charging, and potential impacts on overall insurance policies, is essential. This understanding ensures that the association can manage EV-related risks proactively, protecting community safety and financial stability.