logo
Languages

What is Electric Vehicle Insurance

This type of insurance policy is designed specifically for owners of two-wheelers such as motorcycles and scooters. It provides financial protection against various risks, such as accidents, theft, and natural calamities.


What is covered in Electric Vehicle Insurance
motor-pages.electric-vehicle.what-is-covered-section.point-1.title

Accidents

Electric Vehicle Insurance typically covers the cost of damages and injuries resulting from accidents, providing financial protection to the policyholder and their passengers.

Read More...

motor-pages.electric-vehicle.what-is-covered-section.point-2.title

Theft

Electric vehicles are valuable and can be targeted by thieves. Comprehensive Electric Vehicle Insurance provides coverage against theft, ensuring that the policyholder can recover the cost of their vehicle in case of theft.

Read More...

motor-pages.electric-vehicle.what-is-covered-section.point-3.title

Fire

Electric vehicles can also be damaged by fire, which can cause extensive damage to the vehicle and be costly to repair or replace without insurance. Electric Vehicle Insurance covers damages caused by fire, offering financial protection to the policyholder.

Read More...

motor-pages.electric-vehicle.what-is-covered-section.point-4.title

Natural Disasters

Electric Vehicle Insurance with comprehensive coverage offers protection against such events, providing financial security to the policyholder.

Read More...

motor-pages.electric-vehicle.what-is-covered-section.point-5.title

Battery Coverage

The battery is the most important component of an electric vehicle, and its replacement cost can be high. Electric Vehicle Insurance can provide coverage for battery-related damages or replacement costs, ensuring that the policyholder does not have to bear the financial burden.

Read More...

motor-pages.electric-vehicle.what-is-covered-section.point-6.title

Charging Station Coverage

Electric Vehicle Insurance can also provide coverage for damages or losses incurred at a charging station. This coverage ensures that the policyholder is protected against damages that may occur while charging their electric vehicle.

Read More...

motor-pages.electric-vehicle.what-is-covered-section.point-7.title

Third-Party Losses

Electric Vehicle Insurance covers third-party losses resulting from accidents involving the policyholder's vehicle, including property damage and bodily injury to other people involved in the accident. This coverage ensures that the policyholder is not held financially responsible for damages caused to others in case of an accident.

Read More...


Add-on Cover in Electric Vehicle Insurance

Electric vehicle insurance offers add-on covers that can be added to the standard insurance policy for extra protection. These add-ons can help policyholders enhance their coverage by providing additional benefits that are not included in the standard policy.

Here are some common add-on covers that you can consider adding to your electric vehicle insurance policy

Zero Depreciation

This add-on covers the cost of replacing damaged parts without any deduction for depreciation. As electric vehicles tend to be more expensive than traditional two-wheelers, this add-on can be particularly useful in ensuring that you are not financially burdened by the cost of repairs.

Pillion Rider Cover (for electric two-wheelers)

Similar to two-wheeler insurance, this feature covers any injuries or bodily damages to the pillion rider.

Battery Damage Protection

As the battery is one of the most expensive components in an electric vehicle, this add-on covers the cost of repairs or replacement of the battery in case of any damage caused by an accident.

Roadside Assistance

This add-on provides assistance in case of a breakdown or emergency on the road. This can include towing, battery jump-starts, and even charging your vehicle's battery if it runs out of charge.

Accessories Cover

This add-on covers the cost of repairing or replacing any accessories that are not included in the standard insurance policy, such as charging cables and other electronic accessories.

NCB Protection

This add-on ensures that you retain your No Claim Bonus (NCB) even if you make a claim on your insurance policy. This can help you save money on your insurance premiums in the long run.

Key Replacement Cover

This add-on covers the cost of replacing lost or damaged keys for your electric vehicle, which can be quite expensive to replace otherwise.

Consumables Cover

It provides cover for consumables spares like nuts, bolts, engine oils and other fluids, bearings and washers, etc. Briefly, the vehicle parts that require regular replacement to ensure optimal performance.

Personal Baggage Cover

Items that are kept in the vehicle, like laptop, mobile phone and are prone to theft are covered, under this add-on cover.

Conveyance benefit cover

The cost of commuting while the vehicle is under repair, post an accident is an Add-On benefit.


What Is Not Covered in Electric Vehicle Insurance

Electric vehicle insurance policies also have their own set of exclusions that policyholders should be aware of. Here are some common exclusions in electric vehicle insurance policies

Regular wear and tear

Electric vehicle insurance policies do not cover damages that occur due to regular wear and tear.

Mechanical or Electrical breakdown

Insurance companies do not cover repairs or replacement costs for mechanical or electrical breakdowns that are not caused by an accident.

Intentional damage

Damage caused intentionally or due to illegal activities such as racing or driving under the influence of alcohol or drugs is not covered under electric vehicle insurance. This includes instances of reckless driving, leading to an accident.

Riding without a valid license

If the policyholder or the driver does not have a valid driving license, the electric vehicle insurance policy will be deemed invalid, and no claims will be entertained.

Riding outside geographical limits

Electric vehicle insurance policies do not cover damages or accidents that occur outside the geographical limits of the policy. The policyholder must ensure that they have the necessary coverage if they plan to drive outside the policy's coverage area.

Consequential losses

Insurance companies do not cover damages or losses that occur indirectly or as a result of the insured event, such as loss of income due to an accident.

Commercial use of the electric vehicle

Electric vehicle insurance does not cover vehicles used for commercial purposes, such as delivering goods or passengers for hire. A separate commercial vehicle insurance policy is required for such vehicles.

Accident caused due to intoxication

Insurers will exclude all accidents that are caused due to the driver being intoxicated at the time of an accident.


Types of Electric Vehicle Insurance Policy

Third Party Electric Vehicle Insurance

This is the basic and mandatory insurance policy that covers the policyholder against any legal liabilities arising out of injury, death, or property damage to a third party. This policy does not cover damages or losses to the policyholder's electric vehicle. This insurance is mandatory for all electric vehicle owners.

Read More...

Comprehensive Electric Vehicle Insurance

This policy provides extensive coverage to the policyholder for damages or losses caused to their electric vehicle due to accidents, theft, natural calamities, and man-made disasters. It also includes third-party liability coverage. The comprehensive insurance policy is optional, and the policyholder can choose to include additional riders or add-ons for further protection.

Read More...

Electric Vehicle Own Damage Insurance

Electric vehicle own damage insurance is a type of insurance that provides coverage for damages caused to your electric vehicle due to accidents, theft, natural calamities, and other incidents that are not caused by a third party. This insurance policy provides financial protection to the owner in case their electric vehicle is damaged or stolen.

The coverage provided by electric vehicle own damage insurance varies, based on the policy and insurer. Some policies offer basic coverage for accidents and theft, while others provide additional coverage for damages due to natural calamities, fire, or other incidents. It is important to carefully review the policy terms and coverage before purchasing own damage insurance for your electric vehicle.

Read More...

    Third-Party vs. Comprehensive vs. Own Damage Electric Vehicle Insurance

    FeaturesThird Party InsuranceComprehensive InsuranceOwn Damage Insurance
    CoverageThird-party liability onlyThird-party liability along with own damagesOwn damages only
    PremiumLowHighModerate
    Add-OnsNot includedOptionalOptional
    ProtectionProvides basic protection to third parties involved in the accidentProvides comprehensive protection to both the owner and third party involved in an accidentProvides protection only to the owner in case of damages to their own vehicle
    MandatoryMandatory by lawNot mandatory, but highly recommendedNot mandatory, but highly recommended
    No Claim Bonus(NCB)Not applicableAvailableNot applicable

    Documents Required to Obtain Electric Vehicle Insurance

    Here is the list of documents that one needs to have for obtaining electric vehicle insurance

    • Registration Certificate (RC) of the vehicle
    • Driving License of the policyholder
    • Aadhaar Card or any other government-approved ID proof
    • Address proof, which can be any utility bill or rent agreement
    • Passport size photograph of the policyholder
    • Previous insurance policy details (in case of policy renewal)
    • Details of the electric vehicle, such as make, model, and manufacturing year.

    Procedure for Filing a Claim

    Claim for own damages

    • Inform the insurer immediately after the accident and file an FIR with the police (if required)
    • Take photographs of the damaged vehicle and submit them to the insurer
    • Submit a duly filled claim form along with a copy of the driving License and the RC of the vehicle
    • Provide an estimate of the repair costs and any other relevant documents requested by the insurer
    • Wait for the surveyor to inspect the vehicle and provide an assessment report
    • If approved, the insurer will authorize repairs, and the policyholder will have to pay the deductible or any other amount not covered under the policy
    • After completing the repairs, submit the bills and receipts to the insurer for reimbursement.

    Claim for theft of the insured vehicle

    • File an FIR with the police immediately after discovering the theft and inform the insurer
    • Submit a copy of the FIR, the driving License, and the RC of the vehicle to the insurer
    • Wait for the surveyor to inspect the vehicle and provide an assessment report
    • If the claim is approved, the insurer will provide compensation based on the Insured Declared Value (IDV) of the vehicle
    • The policyholder may have to provide additional documents or information requested by the insurer.

    Claim for third-party liability

    • Inform the insurer immediately after the accident and file an FIR with the police (if required)
    • Take photographs of the damaged vehicle and submit them to the insurer
    • Provide details of the third party involved in the accident, such as name, contact details, and vehicle registration number
    • Submit a duly filled claim form along with a copy of the driving License and the RC of the insured vehicle
    • Wait for the surveyor to inspect the vehicle and provide an assessment report
    • If the claim is approved, the insurer will provide compensation for the third-party damages and the legal expenses incurred by the policyholder
    • The policyholder may have to provide additional documents or information requested by the insurer.

    Documents required for raising an electric vehicle insurance claim

    To ensure a quick and seamless approval of claims, there is a paperless system under which all the soft copies are required to be submitted through digital means. The most common documents for raising the claim are as follows: (note that various other documents might be required, depending on the nature of the claim)

    • Driver Licence
    • Insurance Policy
    • Vehicle Registration Certificate
    • First Information Report (FIR) (in a few cases)
    • Original keys (if needed)
    • Non-traceable Certificate (If required)
    • Proof of identification of the policyholder
    • Fire brigade report (if lodged)
    • Original purchase invoice (if opted for Return to Invoice add-on cover)
    • Original repair bills
    • Original payment receipts

    Why should you choose us?

    motor-pages.electric-vehicle.choose-us-section.section-content-1.title

    Diverse experience in Electric Vehicle Insurance

    At Kataria Insurance Brokers Pvt. Ltd and Policy Leader, we have over 10 years of experience in the vehicle insurance industry. We have a specialised team of experts working for the unique needs of electric vehicle users. Our team of experienced professionals has in-depth knowledge and expertise to help our customers make informed decisions about their insurance needs. We have helped countless customers find the best insurance policies at the most cost-effective prices.

    Read More...
    motor-pages.electric-vehicle.choose-us-section.section-content-2.title

    Customized Individual Recommendation

    We understand that every customer has unique insurance requirements. At Kataria Insurance Brokers Pvt. Ltd and Policy Leader, our team takes the time to understand our client's specific needs and recommends a customized insurance solution that fits their budget and coverage requirements. We offer the best insurance quotations and help our customers compare insurance policies from multiple insurers to ensure they find the policy that is right for them.

    Read More...
    motor-pages.electric-vehicle.choose-us-section.section-content-3.title

    Quick and Hassle-Free Insurance Renewal

    We value our customers' time and offer a quick and hassle-free renewal process for their insurance policy. Our customers can easily renew their policies with a few clicks online or a phone call.

    Read More...
    motor-pages.electric-vehicle.choose-us-section.section-content-4.title

    Dedicated Claim Support

    At Kataria Insurance Brokers Pvt. Ltd and Policy Leader, we provide prompt assistance and support to our clients during the claim process. Our dedicated team of professionals guides our customers through the entire process, from filing the claim to receiving the settlement amount. We work tirelessly to ensure our clients receive the compensation they deserve.

    Read More...
    motor-pages.electric-vehicle.choose-us-section.section-content-5.title

    Multiple Insurers Under One Roof and Insurance Brokers in Gujarat and around the country

    At Kataria Insurance Brokers Pvt. Ltd, we understand that every driver has unique insurance needs. That's why we work with multiple insurers to offer a range of insurance policies, ensuring our customers have various options to choose from. With our industry expertise and status as leading insurance brokers in Gujarat, we provide our clients with the most comprehensive and cost-effective insurance solutions.

    Read More...


    Choose Kataria Insurance Brokers Pvt. Ltd for the best insurance quotes, personalized insurance solutions tailored to your needs, hassle-free insurance renewal, dedicated support for your claims, and a wide range of insurance policies to choose from. Our team of experts is committed to providing you with exceptional service and peace of mind knowing that you are well-protected on the road. Don't let unexpected accidents or losses disrupt your life. Contact us today to get the best two-wheeler insurance policy that meets your needs and budget.

    Compare & Save upto 85%*

    On Electric Vehicle Insurance

    *Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

    Payment Methods
    americanExpressnetBankingpaytm