Updated On:
July 22, 2026 | 06:49 AM IST
Summary
EV Insurance: The market of electric vehicles is growing rapidly in India. One reason for which is the rising prices of petrol and diesel. Keeping all these things in mind, people take many important decisions which also includes insurance.
EV Insurance (Source. Magnific)
Expansion
Electric Car Insurance: As it is being seen in recent times, the market of electric vehicles is growing rapidly in India. One reason for which is the rising prices of petrol and diesel. Considering all these things, people are turning to electric cars keeping in mind the low running cost and environment. But one thing that surprises many customers after purchasing a new EV is that the insurance of electric cars is often costlier than petrol or diesel cars. In such a situation, the question arises that what is the reason for this and what things should be kept in mind while taking insurance?
Battery makes EV insurance expensive
As everyone knows that the most expensive part of an electric car is its battery. In many cases the cost of the battery ranges from 30% to 50% of the total price of the car. In such a situation, if the battery gets damaged due to accident, fire, flood or any technical fault, then lakhs of rupees can be spent in replacing or repairing it. This is why insurance companies give utmost importance to the cost of the battery and the potential risks associated with it while deciding the premium.
Repair cost also increases premium
For information, let us tell you that electric cars are equipped with modern sensors, control units, software and high-tech electronic systems. These require trained technicians and special equipment to repair them. Since EV service centers are not available in every city in the country, the repair cost can be higher than that of normal cars. This is the reason why the premium for EV insurance also remains slightly higher.
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While taking insurance, definitely choose these covers
If you are buying a new electric car, do not make the decision just by looking at the cheap premium. Regarding this, experts say that battery protection cover must be taken. Which provides financial protection in case of battery damage due to accident, flooding, fire, short circuit and other electrical problems. Apart from this, roadside assistance is also very useful. This feature helps in towing, on-road assistance and transportation to the nearest charging station or service center in case the battery dies during long journeys or a charging station is not found.
Also read: Entry of Tata’s 3 new electric cars decided, from updated Tigor EV to premium Avinya, know what will be special
Why is it important to choose the right policy?
It is seen that a good EV insurance policy should include features like zero depreciation cover, battery protection, roadside assistance, electrical and electronic parts cover and protection against floods and natural calamities. You should take a decision only after comparing the policies of different companies. The right insurance not only protects your electric car but can also save you from major expenses in the future.
