Electric cars are now essential today as environmental protection causes demand for a greener world. They are the four-wheelers of the future because they conserve fuel and maintain a clean environment. Due to the growing number of people choosing to drive these environmentally friendly cars, electric cars have grown in popularity. However, like with any other car, an electric vehicle must have electric vehicle insurance before being driven on Indian roads.
When driving on Indian roads, all-electric cars must have valid electric car insurance coverage, according to the Motor Vehicles Act of 1988. Car insurance is necessary for every car owner, just like a driver’s licence.
Add-On Coverage For Insurance On Electric Cars
As previously stated, comprehensive car insurance policies enable you to personalise your approach and expand the scope of coverage with optional add-ons.
Insurance providers are committed to giving your electric car the ideal coverage. As a result, it provides a selection of add-ons. The following are the available add-ons.
- Consumables Cover: Consumables are one-time supplies like lubricants, bolts, screws, and nuts that are used in car repairs. The add-on may cover these consumable costs; they are not otherwise covered.
- Depreciation Cover: Car insurance does not cover depreciation. The cost of depreciation is subtracted from the cost of fixing or replacing the parts in case of a claim. On the other hand, depreciation may be covered with the Depreciation Cover add-on. It is paid out in full and is not subtracted from the claim amount.
- Engine Protect: Add-on can cover such damages and pay for repairing or replacing the damaged machine if the engine sustains damage from water seepage or logging.
- Return To Invoice: The add-on covers the difference between the car’s invoice value and its insured declared value in the event of theft or total loss.
- 24/7 Spot Assistance: When a car breaks down in the middle of the road or in an emergency, this add-on enables 24-hour assistance. Assistance is available for flat tyres, fuel refills, battery jump starts, and other issues.
- Tyre Cover: Normal electric vehicle insurance policies do not cover damage to tyres. On the other hand, if you choose the Tyre Cover Rider, the coverage also includes tyre damage.
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- Daily Car Allowance: In the event of a claim, the add-on may provide a daily allowance while the vehicle is being repaired, which you can use to pay for other forms of transportation.
- NCB Protect: Concessions on premiums are possible through the No Claim Bonus, and if you maintain a five-year streak without filing a claim, the concession can reach 50%. Nevertheless, the NCB is forfeited in the event of a claim. The NCB remains safeguarded even following a claim if you opt for the add-on.
- Loss Personal Belongings: This add-on protects against potential financial loss if your belongings are taken from the insured vehicle.
- Key Replacement: If you misplace your car keys, the add-on may pay to replace them.
Exploring add-on covers for electric car insurance is a prudent step towards comprehensive protection. Choosing the right add-ons enhances the overall coverage, ensuring that your electric car is safeguarded against a diverse range of risks.
Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.