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📝 EV Insurance Startup
Liam Gill
September 11, 2024
News of the Day
Amber, an EV warranty startup, is expanding its coverage across 47 states following a successful $3.18 million seed round. AmberCare is an aftermarket warranty product for Tesla vehicles, offering comprehensive coverage for key components like the electric drivetrain and access to authorized repair shops. It includes a remote diagnostic inspection feature, allowing Amber to remotely access vehicle data and identify potential issues before they escalate. Tesla owners get one complimentary inspection, with more detailed checkups available for $99. Launched in 10 states, AmberCare is expanding to 47 states, with plans to cover Rivian, Kia, and Hyundai EVs by 2025. It also provides direct customer support, making it easier for Tesla owners to address issues. The company will now add Rivian, Kia, and Hyundai EVs to its offerings by 2025. Partnering with Lexington National Insurance Company, Amber aims to reach major markets like California by year’s end. The startup is also introducing a new VIN-specific remote diagnostic service, which acts like a "telehealth" checkup for EVs, offering proactive insights into vehicle health, including Tesla battery diagnostics.
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