ELECTRICAL VEHICLES

Electrical Vehicle (EV) insurance provides financial protection against damages or losses to electric vehicles.

Types of EV Insurance Policies:
1. Comprehensive Policy: Covers damages (Own Damage) to the EV (e.g., accidents, theft, natural disasters).
2. Third-Party/ Liability Policy: Covers damages to other people or property.
3. Personal Accident Policy: Covers accidental loss upto/ for Rs. 1500000/- for owner- driver.

Key Features of EV Insurance Policies:
1. Battery Coverage: Protects against battery damage.
2. Charging Station Coverage: Protects against damage from charging station faults.
3. Electric Motor Coverage: Protects against damage to the electric motor.
4. Emergency Assistance: Roadside assistance, towing, and battery replacement.

Factors Affecting Premiums:
1. Vehicle Make and Model
2. Battery Type and Size
3. Driving History
4. Location (urban vs. rural)
5. Annual Mileage

EV Insurance Policy Add-ons:
1. Roadside Assistance
2. Towing
3. Battery Replacement
4. Accessories Coverage

Claim Process:
1. Intimate the claim immediately to the insurer for lodging a claim number
2. Submit proof of loss along with the claim documents
3. Claim assessment report by the verifier/surveyor
4. Claim approval on a repair or replacement basis
5. Payment proceedings