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What is Electric Car Insurance?

Electric cars are inevitably going to be one of the prominent things in the next few years. It means the market will also experience a rise in electric car insurance buyers. Therefore, electric car insurance is formulated to offer financial assistance for unexpected loss or damage sustained by the insured individual’s electric car. Basically, electric car insurance is a legal arrangement between the insurance provider and the electric car owner. It is mandatory in India for vehicle owners to purchase comprehensive electric car insurance for thorough coverage. 


If you are found driving without vehicle insurance, the chances of attracting legal penalties increase.  Don’t wait for more and buy an electric car insurance policy online easily and quickly from Policychayan. Here, you will get an in-depth understanding of preferable insurance plans in a detailed manner and get to compare various insurance plans by diversified insurers.

Personal Accident Cover

24x7 Roadside Assistance

Cashless repair at a network garage

Add-ons to choose from

NCB discount

An instant policy with zero paperwork

No Claim Bonus

Invoice Cover

Exceptional Benefits of Buying Electric Car Insurance


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Better Coverage

It is advised that car owners should buy a comprehensive insurance policy to avail of better coverage. A policyholder can enhance the coverage with add-ons presented by the insurer by paying an additional sum.

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Legal Obligation

According to the Motor Vehicle Act, of 1988, in India, it is imperative to purchase an Electric Car Insurance policy. It helps you stay legally protected because if you are caught driving without it, you can lure some problems.

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Quick Damage Recovery

Electric Car Insurance policy enables you to get the damages fixed quickly. If you have this insurance policy, you don’t need to worry about paying for the expenses that could burn a hole in your pocket.

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Affordable Insurance Costs

The electric car insurance rates can be considerably lower than the possible damage costs, consequently equipping you with the requisite protection without leaving a dent in your bank account.

Coverage Available Under Electric Car Insurance Policy


  • 1 The insurance company will offer coverage for loss/damage due to a road accident.
  • 2 The insurance company will reimburse for the replacement/repair of the damaged car part.
  • 3 The insurance company will offer coverage under the total loss.
  • 4 The insurance company will offer coverage for the loss due to natural calamities.
  • 5 Your insurer will give coverage for the loss due to human activities such as riots and terrorist activities.
  • 6 As per the Motor Vehicle Act, of 1988, it is mandatory to purchase third-party vehicle insurance.

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What is Covered Under the New E-Vehicle Comprehensive Policy?
What is Not Covered Under the New E-Vehicle Comprehensive Policy?
Covered Under the New E-Vehicle Comprehensive Policy:
  • Injuries sustained by third-party or damages caused to their property.
  • Damages suffered by your car due to an accident.
  • Damages experienced by the car in fire or explosion.
  • Death or injury of the owner-driver due to an accident.
  • Natural calamities such as earthquakes, floods, storms, etc.
Not Covered Under the New E-Vehicle Comprehensive Policy:
  • Damages surface due to electrical/mechanical failure.
  • Damages caused due to regular wear and tear.
  • Damages that occur due to rash driving.
  • Driving the EV in the absence of a valid driving license.

Why Do You Need to Buy Electric Car Insurance from Policychayan?

Here, you can compare a lot of insurance plans hassle-free.

  • 01Issuance of insurance policy within a matter of minutes.
  • 02Customer support is available 24*7.
  • 03Here, you will find insurance plans from credible insurers.
  • 04You can pay the premium online via credit or debit cards/UPIs/ net banking.
  • 05No need to leave the comfort of your home to buy an insurance plan.
  • 06You’ll get a soft copy of the policy document in your email and at your doorstep.


Supervisory Body

IRDAI is the seniormost body or the supervisor of the insurance domain in India.


Informs the Public

IRDAI reckons and announces the electric car insurance rates.



For EVs, the IRDAI has specified a 15% discount on third-party insurance premium rates.



IRDAI has mandated the presence of Electric Car Insurance.

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We will call you right away.

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Frequently Asked Questions

When compared to conventional or fuel-powered ones, electric cars are more expensive. Henceforth, their Insured Declared Value (IDV) is also high. It declares that the higher the IDV, the higher will be the car insurance premiums.

Yes. As per the Motor Vehicle Act, all vehicles including petrol, diesel, CNG, and electric vehicles should be covered with at least Third-Party Insurance Policy.

You can find the right insurer by reviewing the services provided by the insurer, and how quickly and efficiently the insurer can settle claims.

According to the law, the Comprehensive Plan is not mandatory. On the other hand, it turns into a smart choice to get a comprehensive car insurance plan for your electric vehicle. It is because it offers financial protection against liabilities surfacing due to accidental damage to your vehicle.

Electric vehicles consist of expensive lithium-ion batteries to power their motors and since the cost of the vehicle is directly connected to the battery's cost, insuring an EV can be more expensive than insuring a regular petrol or diesel-powered vehicle.

Yes, it is easy to insure electric vehicles in India. You can accomplish this task online without leaving the comfort of your home.