⚡ Why EV Insurance is Different?

Traditional motor insurance was designed for petrol and diesel vehicles. EVs bring unique challenges:

• Expensive Battery Packs – Up to 40% of EV cost, prone to damage.

• Specialized Repairs – Require advanced tools and trained technicians.

• Charging Infrastructure Risks – Fire hazards, power surges at charging stations.

• New Technology – Hybrid and connected car systems increase risk complexity.

Because of these factors, EVs need customized insurance beyond regular motor policies.

✅ What EV Insurance Covers

1. Third-Party Liability (mandatory)

   • Covers injury, death, or property damage to third parties.

2. Own Damage (OD) Cover

   • Protection against fire, theft, natural disasters, and accidents.

3. Battery Protection

   • Covers repair/replacement costs of EV battery packs due to damage or fire.

4. Charger & Accessories Cover

   • Includes home chargers, portable chargers, and charging station damages.

5. Roadside Assistance (RSA)

   • Specialized EV RSA for battery drain, towing, or on-spot charging.

6. Personal Accident Cover

   • Mandatory PA cover for the owner-driver.

💡 Add-Ons for EVs

• Zero Depreciation Cover – Higher EV part costs make this very valuable.

• Consumables Cover – For lubricants, coolants, and EV-specific fluids.

• Return to Invoice (RTI) – Ensures invoice value in case of total loss/theft.

• Engine & Battery Protection – Since batteries are EV’s heart, this is essential.

📊 Example Case

Mr. Mehta buys an electric car worth ₹12 lakh. Standard OD + TP cover gives him basic protection.

• With Battery Protection add-on, his insurer covers a ₹3 lakh replacement cost when his EV’s battery fails due to water damage.
  👉 Without this add-on, he would have borne the entire cost himself.

  
  

🌍 Global & Indian Market Trends

• Global: Countries like the UK, Germany, and Japan already offer specialized EV insurance with telematics-based premiums.

• India: IRDAI and insurers have started offering discounts on premiums for EVs to encourage adoption.
  

🎯 Benefits for Customers

• Peace of mind for costly EV-specific risks.

• Financial protection for high-value batteries.

• Compliance with Motor Vehicles Act.

• Discounts & government incentives for eco-friendly choices.

  
  

✅ Conclusion

As EV adoption accelerates, insurance must evolve. EV insurance is not just about compliance—it’s about protecting advanced technology, reducing ownership risks, and supporting sustainable mobility.

👉 Pitch Line for Agents:
“EVs are the future. With the right insurance, your customers can drive electric with zero worries.”