< Electric Car Insurance - Buy EV Car Insurance Online
Close ILTakeCare Suggestion
IL TakeCare app – For all your insurance & wellness needs

Policy purchase, claims, renewal & more

  • Coverage against various perils
  • Easy to buy and renew
  • Offers long-term benefits fortify coverage
 

What is car insurance for electric vehicles?

Car insurance for electric vehicles, which is commonly known as electric car insurance, protects your ride against potential losses and damages on the road. For example, it provides coverage against losses or damages incurred due to natural and man-made disasters like flood, earthquake, theft, fire, etc. It also covers third-party liabilities. You can easily purchase electric car insurance or EV insurance online in just a few simple steps.

Features of electric car insurance

Here are the vital features of electric vehicle insurance:

Covers various perils

Fire, self-ignition, storms, theft, riots, landslides, rockslides, etc., are various risks that lurk large. They can cause extensive damage to your electric car. EV car insurance covers these risks and more, thereby giving you total peace of mind.

Easy to buy

EV insurance is pretty easy to buy. Thanks to digitalisation, you can buy an electric vehicle insurance policy online directly through the insurer’s website. Just input your vehicle’s registration number, your mobile number, get a quote, pay premiums and you are done.

Goes beyond basic protection

Third-party liability cover and personal accident cover are two features that offer protection beyond damages sustained by natural or man-made calamities. These features in EV insurance come to your aid in situations where your vehicle injures someone or when you sustain injuries in an accident.

Benefits of electric car insurance

Car insurance for electric cars offers the following benefits:

Reduces out-of-pocket expenses

Electric cars are expensive. Repairing them after damage can be costly. EV insurance can help significantly reduce out-of-pocket expenses when you repair your damaged vehicle. You don’t have to think twice before taking your prized possession for repair.

Cashless repairs

Why pay upfront and get reimbursed later? Electric vehicle insurance provides access to a network of garages. The insurer settles the bill directly to the garage without you having to pay anything from your pocket. The entire process is seamless and hassle-free.

Add-on covers

An EV insurance policy offers various add-on covers, including zero depreciation, tyre protection, and engine protection, among others. They give you added protection on top of your base policy. You can opt for the one that best fits your requirements by paying an additional premium.

What’s covered and not covered in car insurance?

  • Inclusions
  • Exclusions

Inclusions in EV car insurance

An electric vehicle insurance policy covers the loss or damage of your electric vehicle and its accessories due to:

  • Fire, explosion, self-ignition or lightning
  • Earthquake, flood, typhoon, hurricane, storm
  • Tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide
  • Burglary, theft, riot, strike, malicious act
  • Accidents by external means, terrorist activity
  • Any damage in transit by road, rail, inland waterway, lift, elevator or air

Electric car insurance add-ons

Among the several add-ons you can add to your EV car insurance are:

1

Roadside assistance cover

This add-on comes in handy if your electric car suddenly breaks down on the road. Having this add-on provides access to emergency services as per the policy’s terms and conditions. It’s useful if you frequently go on long drives in remote locations.

2

Key protect

Replacing lost keys to your electric car can be quite expensive. The key protect add-on covers the cost of replacing lost or stolen keys, up to the sum insured. You can opt for this add-on if you deem fit by paying an additional premium.

3

Zero depreciation

Your electric car starts losing its value the moment you take it out of the showroom. The zero depreciation add-on covers the full cost of applicable parts, excluding depreciation, during repairs. This ensures you get the full claim amount.

4

Engine protect plus

This add-on, available with EV insurance, covers expenses incurred for replacing or repairing damaged engine and gearbox parts due to water ingress or lubricating oil. The engine is the heartbeat of any car, and replacing or repairing it can be pretty expensive.

Note: Please go through the policy wordings for exhaustive list and details about add-ons.

How to file a claim for an electric car?

Filing an EV insurance claim is easy. All you need to do is:

1

Intimate the claim

The first step is to inform us regarding your claim. You can reach out to us via our toll-free number. You can also lodge your claim through our website. Make sure to do it as soon as possible.

2

Complete video survey

Next, complete the video survey of your damaged vehicle. You can do so from the IL TakeCare app by using the InstaSpect feature. Ensure that you cover damages from multiple angles. Do this in a well-lit area and ensure you have a stable internet connection.

3

Submit documents

Submit the required documents along with the claims form. On most occasions, you need to submit the policy copy, copy of the registration certificate, garage estimate, copy of the driving licence, etc. We will inform you if you need any additional documents.

Note: Please click here for more information.

Documents required for claiming EV car insurance

The basic documents you need for making a claim are:

  • Original claim form with NEFT mandate form
  • Copy of registration certificate (RC)
  • Copy of the driving license of the person driving the vehicle at the time of the accident
  • Policy copy
  • Certified copy of one officially valid document & PAN card/form 60
  • Garage estimate
  • Repair invoice
  • Cancelled cheque

See the full checklist of the documents here.

How to renew electric car insurance online?

To renew electric vehicle insurance:

  • Visit our website here .
  • Click on ‘Car Policy’ under ‘Renewals’
  • Enter either your car’s registration number or policy number
  • Click on ‘Proceed’
  • Follow the appearing instructions to renew your policy

Factors that impact electric car insurance premium

Several factors impact EV insurance premiums. Some of them are:

Car’s make and model

The type of electric vehicle you drive matters. Premiums often vary depending on the brand, model and features of the car. A high-end EV with advanced features may be treated differently from a basic city car. The insurer considers the cost of repairing or replacing the car.

Usage pattern

The frequency and distance you drive the electric car can also impact your insurance. Vehicles used daily for long distances may be treated differently compared to those used occasionally. Whether you use your EV for personal purposes or business travel can impact the premium amount.

Installed safety features

Many electric cars come with modern safety features and driver-assistance systems. These technologies are designed to reduce the chance of accidents. Insurers consider how well-equipped your car is when evaluating your application.

Coverage type

The kind of policy you choose, third-party or comprehensive affects the final premium. Each plan offers a different level of protection, and the more comprehensive it is, the higher its cost may be. Premiums also depend on the add-ons chosen.

Frequently asked questions about electric vehicle insurance

Is EV insurance more expensive than regular insurance?

Not always. It depends on the vehicle's value, battery cost, and service availability. Some insurers may offer lower premiums or green discounts for electric vehicles.

Can I buy add-ons for EV insurance?

Yes, many insurers offer useful add-ons like roadside assistance, battery cover, zero depreciation, or even home charger protection. These can enhance your EV coverage.

How is the EV insurance premium calculated?

Premiums depend on the vehicle's value, battery cost, brand, model, age, location and chosen coverage.

What happens if my EV is stolen?

If your electric vehicle is stolen, your insurer will compensate you based on the Insured Declared Value (IDV) after verifying the claim. Theft coverage is only available in comprehensive plans.

Hi there!

Let us help you explore and buy a new policy.

Chat now
Available 24 x 7

Error message here