Electric Vehicle Insurance Explained

Electric vehicle (EV) insurance is designed to financially protect EV owners from costs arising due to accidents, theft, fire, or natural calamities. As per Indian motor laws, having at least third-party liability coverage is mandatory for EVs.

Understanding EV Insurance

With the increasing adoption of electric vehicles in India, having the right insurance plan ensures peace of mind and compliance. EV insurance typically includes comprehensive and third-party options tailored for electric vehicle-specific needs.

Top Reasons to Insure Your EV

• Financial Protection: Covers repairs, replacements, and accidental damage.
• Legal Compliance: Third-party cover is a legal requirement in India.
• Customizable Plans: Choose add-ons like battery cover, roadside assistance, etc.
• Quick Claim Support: EV-specific claim processes ensure smoother experience.

What’s Covered Under EV Insurance?

• Own damage (accidents, theft, fire, natural disasters)
• Third-party liability for property damage or injury
• Personal accident cover for the owner-driver
• Repair and replacement of EV-specific components
• Battery and charger cover (optional add-on)

What’s Not Covered?

• Damage due to intoxicated driving
• Driving without a valid license
• Wear and tear of parts
• Mechanical or electrical breakdowns not caused by an accident
• Damage outside the geographical policy scope

Third-Party EV Insurance Premium Chart

How to File a Claim?

• Inform the insurer immediately after the incident
• Capture photos or videos of the damage
• Collect required documents: FIR (if needed), ID proof, registration certificate
• Insurer assigns surveyor for assessment
• Repair is initiated or reimbursement processed