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Get Car Insurance For My Electric Vehicle


With natural resources exhausting, the human race has turned towards more sustainable sources of energy. In order to sustain a suitable environment, automobile industries have launched electric vehicles. With the growing consumer awareness, people have started transitioning towards these vehicles. This has been facilitated by-

  • improvement in quality
  • decrease in the cost of batteries
  • strict emission norms

Get yourself a motor insurance/car insurance in order to protect yourself from any unforeseen risks, providing you with financial safety.

The Insurance Regulatory and Development Authority of India (IRDAI) has notified the insurance premium rates for private electric vehicles (EVs) for third party insurance coverage. They have proposed a 15 percent discount in comparison to private cars (general) in the same category.

Since getting a motor insurance is a must (as stated by the IRDAI), this move will encourage people to invest in EVs.

Third party coverage includes any damage caused to the third party and does not cover you. Some coverage areas might include:

  • Death or injury to the third party
  • Accidental damage of third party property
  • Disability of any sorts caused by your vehicle


*always read the terms and conditions as stated by the IRDAI and the car insurance policy.


Electric cars are on the higher end when it comes to monetary value. Hence the costs of insurance increases in direct proportion to it. The premium of your Electric Vehicle is decided by the kilowatt (KW) by insurers instead of cubic capacity (CC). However, this draws a higher premium rate taking in the repairing cost and damage in consideration. 




Before buying your insurance check for these

  • Insured Declared Value (IDV)
  • coverage extend
  • value of the vehicle for which the insurance is provided
  • adequate coverage to receive a fair share during accidental claim
  • third party coverage
  • claim settlement ratio
  • cashless facility
  • type of plan
  • add on features


Electric vehicles are high maintenance and require special mechanics and technology in case of any repairs, making it expensive. Thus always look for add on features like on spot assistance, engine protector etc. to provide you the maximum coverage. Some of the risks involved with Electric vehicles include the following:

  • Battery charging
  • Damage to charging connectors
  • Battery leakage
  • Transportation cost to the nearest charging point (towing costs)


Additional add on coverage like zero depreciation can be taken into account (again the expenses). This is essential since the insurance company calculates the depreciation value of the car and deducts it from the claim amount. With this coverage, the full amount in paid as the deduction in claim due to depreciation is waived off.



*Always compare prices and policies online to get the best deal on your vehicle. Select the one which best serves your purpose.

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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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