Now Reading: EV battery damage cover now part of motor insurance policies
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EV battery damage cover now part of motor insurance policies
Electric vehicle owners need to check if their policy covers the battery separately. Digit Insurance says specialised battery components can account for roughly 40% of total repair cost and may not be…
The Story in Brief
Electric vehicle owners need to check if their policy covers the battery separately. Digit Insurance says specialised battery components can account for roughly 40% of total repair cost and may not be covered under standard plans. Its EV Shield add-on covers the battery, electrical panel, charger and charging cable against accidental damage or loss.
The Indian Opinion
Insurance companies are finally waking up to the fact that an EV's heart is its battery, not the engine. But the fine print still matters: does 'battery cover' include gradual degradation or only sudden accidental damage? If a battery loses capacity over time, as all batteries do, will the insurer pay? That is the question a buyer must ask before signing the proposal form.
Sources (2): businesstoday.in, economictimes.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
