Service contract administrators are hard at work on F&I products geared specifically to electric vehicles ahead of a big expansion in the number of EVs on the market.
In some ways, that's complicated. In other ways, not so much. The relatively easy part is that EV buyers want many of the same F&I products as everyone else, such as coverage for a cracked windshield, lost key fobs, road hazards for tires and interior and exterior appearance.
A central complication is how to address the lithium ion battery — the one thing EV buyers probably are most worried about.
"The battery is always the big talking point when it comes to EVs," said Jason Garner, senior vice president of strategic product development for AUL Corp.