
The market for electric vehicles, or EVs, is gradually growing in India. In addition to being more environmentally friendly than cars that run on petrol or diesel, they may also be less expensive to operate over time. Since India’s EV market is still in its infancy, potential customers might be worried about where to get affordable electric car insurance.
What Is Insurance For Electric Vehicles?
Car companies are creating a variety of EVs to meet the varying needs of individual consumers to meet the increasing demand. Modern insurance providers offer vehicle insurance for electric cars due to the increased popularity of EVs.
The electric vehicle policy provides financial protection for your vehicle against liabilities like accidental damage, natural disasters, fire, riots, theft of the insured vehicle, and third-party injuries or property damage. It is comparable to the motor insurance policy for petrol and diesel vehicles. It can prevent out-of-pocket costs by selecting the appropriate cover for your electric car.
Why Should Electric Cars Be Insured?
The following are some benefits of having a comprehensive insurance policy for your electric vehicle.
- Protection Against Third-Party Obligation
If an unlucky circumstance arises where you injure someone else or cause damage to someone else’s property, your electric vehicle policy can pay for those liabilities. Claims are subject to terms and conditions set forth under the motor insurance policy. *
- Avert Penalties Mandated By Law
You will be shielded from fines for failing to maintain minimum liability coverage for your vehicle insurance because the Comprehensive Plan includes the legally required Third-Party Liability Cover. Claims are subject to terms and conditions set forth under the motor insurance policy. *
- To Prevent Expensive Repair Bills
Because the Comprehensive Cover offers its Own Damage (OD) coverage, it covers a significant portion of the cost of repairs in the event of riots, fires, accidents, natural disasters, and theft-related losses. This implies that should the plan cover damages, you won’t be responsible for paying a hefty repair bill. Claims are subject to terms and conditions set forth under the motor insurance policy. *
- Obtain Personal Accident Coverage
You are entitled to total financial compensation with the legally required Personal Accident Cover (PA) for risks like accidental demise, physical harm, or partial or full disability as a result of an accident. Please be aware that this must be purchased independently with the comprehensive plan or the third-party electric bike insurance plan. Claims are subject to terms and conditions set forth under the motor insurance policy. *
How Can I Purchase Electric Vehicle Insurance Online?
Step 1
Go to your insurer’s website or use the mobile app to download and install.
Step 2
You can choose it from the car selector option or enter your car’s registration number.
Stage 3
Choose the variant type of your EV and provide some information about yourself and your prior policy.
Step 4
Select the plan and optional add-on covers based on what you need.
Section 5
Get the policy instantaneously in your inbox by paying the premium online.
Purchasing electric vehicle insurance involves a strategic and informed approach. Buyers can make confident and tailored decisions by carefully assessing individual needs, understanding coverage options, and comparing quotes from reputable insurers. The evolving market for electric vehicle insurance offers essential coverage against traditional risks and specialized protection for the unique components of electric cars. Navigating the process of buying electric vehicle insurance becomes crucial in ensuring a secure and seamless journey on the roads of tomorrow.
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
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