Choosing the right EV insurance protects your electric vehicle against unexpected expenses. However, the benefits offered by policies differ. Understanding the key features of policy coverage lets you make an informed decision.
From battery replacement to coverage for portable chargers, a four-wheeler protection coverage helps manage EV-related risks and drive with confidence on every journey. Continue reading to learn more.
What are the Key Features of TATA AIG EV Car Insurance?
Electric Surge Secure Add-on
The electric surge secure add-on covers repair or replacements expenses if your electric car or its charging equipment is damaged due to arcing, self-heating, short circuits, or similar electrical risks. TATA AIG offers this add-on for electric cars up to 5 years of age.
Coverage for EV Portable Charger
Under TATA AIG’s base own damage EV insurance policy, your EV’s portable charger is covered. You don’t need a separate add-on or pay an additional premium for this coverage.
Depreciation Allowance – Battery Add-on
The battery is one of the key components of an electric vehicle. If your EV’s battery is damaged and needs replacement under the own damage cover, depreciation may be deducted from the claim amount. The depreciation allowance – battery add on covers this depreciation and helps reduce your out-of-pocket expenses. This add-on is available for cars up to 5 years of age.
Other Add-ons for Customisation
EV owners can also choose other add-on options matching their coverage requirements. Add-on options, such as roadside assistance, return-to-invoice, tyre secure, key replacement, and emergency medical expenses cover can provide additional support for different situations. You can select suitable add-ons based on your vehicle’s age, usage, and the type of coverage you need.
What’s Covered and Not Covered Under TATA AIG EV Car Insurance?
Here are the key inclusions and exclusions before choosing a policy:
Inclusions
- Covers damage caused to your EV due to accidents.
- Offers coverage if any of your car parts are stolen or damaged, subject to policy terms.
- Provides coverage for damage sustained while the EV is transported.
- Covers events such as earthquakes, floods, riots and strikes.
Exclusions
- Any damage caused to your EV while drinking and driving is not covered.
- Maintaining your EV on a daily basis and normal wear and tear are excluded.
- If there is no valid driving licence, claims are not accepted.
Factors to Consider While Choosing EV Car Insurance
Find below some factors you must consider while choosing EV car insurance:
Evaluate Vehicle Condition and Your Usage and Driving Conditions
Before selecting the right EV car insurance, consider your EV’s condition, age and how often you use it. Frequent travel, long-distance commutes and driving in congested areas might impact your coverage needs. Assess the risks you face daily.
Select the Right Type of Policy and IDV
Considering your protection needs, choose between third-party and comprehensive insurance. Third-party insurance offers coverage for third-party liabilities, while comprehensive insurance offers damage cover to your EV, subject to terms and conditions. To evaluate the insured value of a vehicle, check the Insured Declared Value (IDV).
Choose Add-ons Depending On Your Needs
For additional protection, choose relevant add-ons. Add-on options such as battery protection and electric surge protection provide additional coverage, subject to terms and eligibility conditions.
Compare Premium Quotes
Before you make a final choice, compare the coverage, premiums, deductibles and exclusions. Go for a policy that suits your protection needs and budgetary preferences.
Conclusion
TATA AIG offers EV-specific coverage and add-on options to suit your needs. Consider your car’s age, driving habits and usage conditions when choosing a policy.
You can buy and manage your policy online through the website or mobile app. TATA AIG also has a network of 6,300+ garages for cashless repairs. You can file and track claims online and get support from a dedicated claim handler.
Explore TATA AIG car insurance plans for unique benefits, convenient digital services, and dedicated support.
