This document outlines the insurance requirements necessary to complete The Insurance Task for your loan application with Tenet. It provides essential information regarding acceptable insurance policies, coverage requirements, and the implications of not providing adequate insurance documentation.

To fulfill your insurance obligation, you may provide the insurance policy for a currently owned vehicle (excluding the new vehicle). This is acceptable if you sign an agreement to add the new vehicle to that policy or obtain a new policy within 30 days after your loan has been funded.

For the new vehicle, you agree to maintain insurance and be the policyholder for the duration of your vehicle loan. The insurance policy must cover loss or damage to the vehicle and must be acceptable to Tenet. You have the option to use an existing insurance policy or obtain insurance from an insurer authorized to operate in your state. The insurance must include comprehensive, fire, theft, and collision coverage sufficient to cover the vehicle’s actual cash value. Additionally, you must name Tenet Energy Inc. as a loss payee on the policy.

If your name is not on an insurance policy at the time of your application but you are listed as a driver under a related party's policy, this is acceptable.

If you do not have any vehicle insurance at the time of your loan application, you can still proceed with the other required tasks in your Tenet Dashboard to achieve full approval. However, we require that prior to funding a loan, you either open a new policy or add the new vehicle to an existing policy and share the documentation with us to facilitate the release of funds to the seller.

If you fail to provide evidence of insurance, Tenet may purchase insurance at your expense to protect our interests. Please note that any replacement coverage we may provide could be more expensive and offer less coverage than what you could obtain independently.

For inquiries regarding Tenet's lienholder address and ELT code for your state please reference the following document or customer service for assistance.

• Is EV Insurance More Expensive?

• Understanding EV Insurance: Protecting Your Electric Investment

• What Is Gap Insurance and Do I Need It for my EV?