Where to buy insurance for new energy battery packs

Does EV insurance cover EV battery packs?

Through this customised protection, EV and HEV owners will have the specialised coverage they need, thus facilitating the wider adoption of electric mobility,” said Rajive Kumaraswami, MD and CEO, Magma HDI General Insurance. A few other private car insurers also offere add-on coverage for EV battery packs.

Does insurance cover a battery swapping facility?

Coverage terms: In case a battery swapping facility is availed by the policyholder the coverage will be provided subject to their agreement with the service provider. There is no capping on the number of claims in a policy period unless otherwise stated in the policy schedule.

Do electric car owners need battery coverage?

The most significant concern for electric car owners revolves around the inclusion of car battery coverage in their insurance policies.

Does Acko General Insurance offer extended battery warranty?

Earlier this year, ACKO General Insurance launched its "Extended Battery Warranty" plan that safeguards battery life for up to four or five years and provides performance coverage for up to 60,000 km. Shriram General Insurance also provides car battery insurance separately as an add-on for policyholders.

When is payment under a battery add-on applicable?

Payment under this add-on is applicable when there is evidence of impact damage to the Battery, resulting in damage to the covered parts as mentioned. Short circuits occurring during mounting, dismounting, or vehicle charging that lead to damage or failure of the covered parts are also covered.

Does magma HDI cover EV batteries?

Magma HDI’s new add-on for EV battaries claims to provide a solution for this problem. Coverage includes repairs or replacement expenses for vehicle batteries. It also covers costs resulting from unforeseen power surges during the charging process.