Electric Car Insurance

Electric car insurance is a legal contract between the insurer and the electric car owner. It protects the electric car owner from any unexpected incident leading to damage. Since it is mandatory to purchase a third-party EV insurance policy, it is advisable to purchase comprehensive electric car insurance for wider coverage.

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What is an Electric Car Insurance?

Electric cars are going to become the next best thing and with the rise in electric cars in the market, there will also be a rise in electric car insurance buyers as well. Hence electric car insurance has been designed to provide financial aid for unforeseen loss or damages caused to the policyholder’s electric car.

Benefits of Buying Electric Car Insurance

Since you are already doing your bit in decreasing the pollution but protecting yourself from any unforeseen loss or damage is also important. Here are some of the benefits of purchasing a EV insurance policy for your electric four-wheeler:

• Financial Security: Purchasing an electric car insurance policy will provide you with financial security as the insurer will pay on your behalf for any kind of loss or damage caused to the car..
• Coverage Enhanced: Third-party insurance is necessary however buying a comprehensive insurance policy depends on the car owner. It is recommended to the car owner buy comprehensive insurance policy to get better coverage. You can always enhance the coverage with add-ons provided by the insurer but you will have to pay an extra amount in your premium.
• Quick Damage Recovery: With electric car insurance, you can get the damages fixed quicker than usual. As there are times when you are not able to afford the repairing cost and that is where an insurance policy comes in and saves the day.
• Abiding By The Law: It is mandatory to purchase a car insurance policy in India as per the Motor Vehicle Act, 1988. Hence having a EV insurance policy keeps you on the safer side of the law.
• Peace Of Mind: When you purchase an electric car policy, it gives you peace of mind as you do not have to worry about unforeseen expenses that might arise after a road accident.

Third Party Electric Car Insurance Premium Rates

How to Raise A Claim Under Electric Car Insurance?

When you purchase an electric vehicle insurance plan, you expect to get coverage when any unforeseen loss or damage takes place. In order to get a claim for the damage, you should know how to raise one. Follow the steps mentioned below:

• Inform Your Insurer: First of all, make sure to inform your insurer about the incident and the damage caused to the car. Be it an accident or due to natural calamity just inform them about it.
• Take Pictures: You can click pictures on your phone of the damaged car. You can keep this as proof to show later. It will also help your raise the claim online.
• Keep Documents Ready: Once you inform the insurer, start collecting the documents that you will have to submit along with the claim form.
• Inspection: After informing the insurer, they will send an inspector to assess the cost of repairs against the damages. Once the survey is complete, the insured electric car will be sent to network garage for repairs.
• Compensation: Once the claiming process begins, the insurer will compensate for the repairing or replacement of the damaged part of the electric car directly to the network garage.In case of reimbursement claims, the claim amount will be reimbursed to you after the repairs.

How to Renew Electric Car Insurance Online?

The electric car insurance comes with a tenure of 1 to 3 years. It is important for you to renew the plan before the expiry date to stay covered under the insurance plan. Here are the steps that you need to follow to renew electric vehicle insurance online.

Step 1: Visit Policybazaar Insurance Brokers Private Limited official website i.e. Policybazaar.com

Step 2: Enter your electric car number.

Step 3: Enter your electric car details such as RTO model, registration year etc.

Step 4: Fill n the given registration form

Step 5: From the given plans, choose the desired EV car insurance plan,

Step 6: You can add or remove any add-on as per your requirement.

Step 7: If you add an add-on, the insurance premium will increase, if you remove an add-on then the insurance premium will decrease.

Step 8: Now locate the “Payment and Summary” button and click on it.

Step 9: Now it will show you the updated insurance premium amount.

Step 10: You can make the payment online using a debit/credit card, UPI or net banking.

Step 11: Once the payment is done, you will get the Electric car insurance policy document on your registered email ID.

Why Purchase from Policybazaar?

Purchasing the electric car insurance policy from Policybazaar Insurance Brokers Private Limited is easy and quick. You can learn about your desired insurance plan in detail, you get to compare different plans in one place.

Here are some advantages of purchasing insurance for electric vehicles from Policybazaar.com:

• 24*7 Claim Assistance Services
• Cashless Repair Assurance
• 3-Day Repair Assurance
• Free Pickup & Drop Facility
• Self-Video Claims
• Windshield Claims at Home

Apart from this, you can calculate the insurance premium of your chosen insurance plan by using the car insurance premium calculator tool. Also, you get to save the agent’s fee that you have to pay if you purchase the policy offline.