Electric Car Insurance
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What is Electric Car Insurance?
As countries move toward environmentally responsible practices, electric cars are gaining importance in India. These vehicles reduce fuel expenses and help lower pollution, making them a practical choice for the future of personal transport. As the number of electric car owners increases, it is important to understand the legal and financial requirements linked to their use.
Under the Motor Vehicles Act, 1988, it is mandatory for every electric car driven on Indian roads to have valid car insurance. Just as a driving license is required to operate a vehicle, insurance coverage is compulsory for all car owners, including those with electric vehicles.
Electric car insurance works in the same way as car insurance for petrol or diesel cars. It provides financial protection against risks such as accidents, fire, natural disasters, riots, theft, and third-party injury or property damage. Depending on the policy chosen, the insurer compensates for covered losses, ensuring legal compliance and financial security for the vehicle owner.
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Key features & benefits of electric car insurance
Electric car insurance provides necessary coverage to protect the vehicle owner and the electric car from financial losses, legal requirements, and unforeseen events.
Why Insurance for Electric Cars?
Car insurance online helps cover common risks associated with owning and driving an electric vehicle.
Legally mandatory
The Motor Vehicles Act, 1988, requires car insurance. Driving without it invites penalties, making insurance legally essential.
Coverage against third-party liability
Covers damages, injury, or death caused to third parties. Meets Motor Vehicles Act, 1988 requirements for legal liability protection. click here
Coverage against natural calamities
Comprehensive policies cover damages from earthquakes, floods, storms, landslides, fire, riots, and other natural or accidental events.
Theft cover
If your car is stolen, a comprehensive policy compensates for the loss, protecting you from significant financial damage.
Add-ons covers
Enhance coverage with add-ons like roadside assistance, depreciation cover, or invoice reimbursement in theft or total loss.
Compensation for financial loss
Covers repair costs, theft losses, and third-party liabilities, reducing financial burden after accidents or damages.
Personal accident cover
Provides coverage up to ₹15 lakhs for accidental death or permanent disablement.
Peace of mind
Comprehensive car insurance plans with add-ons ensure support during emergencies and protection against major financial setbacks, offering complete peace of mind.
Types of electric vehicle insurance plans
There are different insurance plans for electric vehicles to protect against accidents, damages, and legal responsibilities.
Third-party electric vehicle insurance is mandatory under Indian law and provides essential legal and financial protection. It covers liabilities arising from injuries or death to third parties, damage to third-party property, and legal obligations resulting from accidents involving the insured electric vehicle. However, this policy does not cover damage to the insured vehicle. While necessary for regulatory compliance, it offers limited financial protection to the vehicle owner.
Comprehensive electric vehicle insurance provides extensive and well-rounded coverage for electric vehicle owners. It includes mandatory third-party liability cover and own-damage protection. This policy safeguards the vehicle against risks such as accidents, collisions, fire, explosions, natural calamities, theft, vandalism, and riots. By covering both legal liabilities and vehicle-related damages, it ensures enhanced financial security and long-term protection.
Compare Electric Car Insurance Plans
| Premium Features | Comprehensive Plan | Own Damage Plan |
Cashless repairs | ||
No claim bonus up to 50% | ||
Coverage to electrical/non-electrical accessories | ||
Coverage to bi-fuel systems | ||
Damage to third party property | ||
Third party’s death or injury | ||
Zero Depreciation cover add-on inbuilt | ||
Extra coverage with optional add-ons | ||
| Standard Features | ||
Car damage | ||
Theft coverage | ||
Personal accident cover | ||
Car damage due to natural disasters | ||
Car damage due to man-made calamities eg: riots | ||
Car damage due to fire | ||
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What is covered and not covered in electric car insurance?
When you purchase a policy, it is important to understand exactly what your electric car insurance covers and what it does not. This ensures you are fully aware of your protection and helps avoid any surprises when filing a claim.
Electrical and Non-Electrical Accessories
Provides coverage for all installed accessories under a comprehensive plan, ensuring financial protection against repair or replacement costs.
Fire
Covers losses or damages caused by accidental fire incidents, helping reduce the financial burden arising from such events.
Self ignition
Offers compensation for damages resulting from combustion that occurs without the involvement of an external heat source.
Natural disasters
Protects the vehicle against damage caused by calamities such as floods, storms, earthquakes, or other natural events.
Personal accident
Provides financial security to the insured and their family in case of accidental injury, permanent disability, or death.
Explosion
Covers damages to the insured property caused by sudden nuclear or chemical reactions, ensuring added safety and protection.
Wear, tear & general aging of vehicle
Damages caused by normal wear and tear or the vehicle's general ageing are not covered.
Depreciation or consequential losses
Depreciation or consequential losses are not included in the coverage, unless separately covered by add-ons.
Vehicle used otherwise
Damage caused when the vehicle is driven outside the limitations set for its use is not covered.
Mechanical/Electrical breakdown
Damages resulting from mechanical or electrical breakdowns are not covered.
Contractual liability
The policy does not cover any contractual liability if you are found responsible for damages.
Influence of Drugs or Alcohol
Damage caused by or to a person driving under the influence of drugs or alcohol is not covered.
Vehicle without valid license
Damage caused by or to an unlicensed driver, or a driver with an invalid license, is not covered.
Nuclear risk or war
Damage resulting from nuclear risks or war is excluded. However, all other risks as per the Terms and Conditions are covered.
Third-Party electric car insurance premiums
Zurich Kotak General Insurance offers comprehensive third-party electric car insurance with competitive premiums starting at ₹2,099 annually for vehicles with an Insured Declared Value (IDV) of up to ₹10 lakh. Fully compliant with IRDAI regulations, these policies cover third-party liabilities, including damages, injuries, or fatalities, while accounting for the unique aspects of electric vehicles, such as battery and motor values, without excessive depreciation.
Electric vehicle owners benefit from premium rates that are typically 10-15% lower compared to internal combustion engine (ICE) vehicles, due to reduced accident risks and the eco-friendly nature of EVs. The insurer also offers a user-friendly online calculator for instant quotes and provides up to 50% discounts when telematics devices promoting safe driving are installed.
With a wide network of cashless garages, including those specialised in EV repairs, Zurich Kotak ensures seamless servicing for popular models. Additionally, optional zero-depreciation coverage protects high-cost components, and app-based claims enable quick, efficient resolution.
Cancellation grid
In case you would like to cancel your car insurance policy within a year, we will retain a portion of the premium as specified below
Period | % of Annual Premium |
Not exceeding 1 month | 20% |
Exceeding 1 month but not exceeding 2 month | 30% |
Exceeding 2 months but not exceeding 3 months | 40% |
Exceeding 3 months but not exceeding 4 month | 50% |
Exceeding 4 months but not exceeding 5 months | 60% |
Exceeding 5 months but not exceeding 6 months | 70% |
Exceeding 6 months but not exceeding 7 months | 80% |
Exceeding 7 months but not exceeding 8 months | 90% |
Exceeding 8 months Full Annual Premium | Full Annual Premium |
Add-ons for electric car insurance
Electric car insurance add-ons offer extra coverage customised to your EV’s needs. Key add-ons to consider include:
Consumables cover
Consumables cover the cost of one-time items like nuts, bolts, lubricants, and screws used in repairs.
Depreciation cover
Ensures depreciation is not deducted from your claim, resulting in a higher payout.
Engine protect cover
Engine protect covers the cost of repairs or replacement of engine parts due to water damage or oil leakage.
Return to invoice cover
Reimburses the full purchase price of the vehicle in the event of a total or constructive total loss. Know more about car insurance return to invoice add-on cover.
Tyre cover
Tyre protection covers repair or replacement costs for tyres and tubes damaged in an accident.
Roadside assistance cover
Assists in emergencies such as flat tyres, fuel refills, or battery jump-starts. Know more about car insurance road assistance add-on cover.
Daily car allowance
Offers financial assistance for alternative transportation when your car is under repair. know more about car insurance daily car allowance add-on cover.
NCB protect cover
Protects your No Claim Bonus (NCB) even if a claim is made during the policy period.
Loss of personal belongings
Loss of Personal belongings covers financial loss if personal belongings are stolen from the insured vehicle.
Key replacement cover
Key Replacement covers the cost of replacing lost, stolen, or damaged car keys.
Why choose Zurich Kotak's electric car insurance online?
Experience seamless protection and security with us
Zurich Kotak offers a seamless and efficient way to protect your electric vehicle with easy online processes, affordable premiums, and instant coverage. Here is why it stands out:
Time saving car policy
Purchase your car insurance online and have it issued within minutes, ensuring instant coverage without wasting time.
Money saving car policy
Premiums start as low as ₹2094, offering affordable coverage that doesn't strain your budget while maintaining comprehensive protection.
Effort saving car policy
Simply apply online, fill out the proposal form, and make the payment. Your policy will be issued quickly with minimal effort on your part.
Instant discounts on car policy
Get up to 50% off on renewal premiums with a no-claim bonus, plus additional discounts for opting for a voluntary deductible or installing an anti-theft device. Join AAI to lower your premium further.
24x7 Customer care support for car policy
Zurich Kotak provides round-the-clock customer support for buying, renewing, or claiming your policy, ensuring prompt assistance whenever you need it.
Trusted and reliable car policy
With minimal effort, apply online, fill out the proposal form, and make the payment. Your policy is issued quickly, offering you trusted, reliable coverage.
Top reasons to buy an electric insurance policy
Zurich Kotak General Insurance offers different types of car insurance plans
Paperless transactions
Car insurance require you to answer basic questions about yourself and your vehicle. Based on these questions, you can select the insurance coverage you wish to buy for your vehicle. You won't need any paperwork to buy a car insurance online.
Instant policy
When you buy car insurance offline, processing physical paperwork takes a long time; however, when you purchase a car insurance online, information is processed instantly, and your policy is issued immediately.
More convenience
Online car insurance purchases are more convenient than traditional ones. You can buy an insurance policy at one in the morning from the convenience of your home and still have a smooth transaction. Buying car insurance online offers ease.
Checking the credibility online
Online research is more straightforward than offline research. Before buying a new car insurance online, you can check our website to learn more about incurred claim ratio, claim filing process, and claim resolution time. To obtain a clearer picture, you can also read reviews left by current or former customers.
How to get an online quote for EV car insurance
See how simple it is to get a car insurance quote with us
Visit Zurich Kotak General Insurance website
Log in to your Zurich Kotak General Insurance profile using the OTP sent to your mobile number
Fill in your details such as car registration number, mobile number and email id (optional).
Click on the "Get A Quick Quote" button on the Zurich Kotak Car Insurance Page and review coverage
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Tips to choose the right electric car insurance policy
Understand the key factors that affect your four-wheeler insurance premiums
Factors that affect electric car insurance premiums
Several factors influence the cost of four-wheeler insurance premiums, including:
Coverage Type: Comprehensive plans offer broader coverage, resulting in higher premiums, while third-party plans are more affordable.
Car Type: The make, model, and fuel version of your car affect the premium. Generally, higher-priced cars have higher premiums, and the car's make and model determine the Insured Declared Value (IDV).
No Claim Bonus: The no-claim bonus provides a discount on renewal premiums. A higher bonus means a larger discount and a lower premium.
Add-ons: Additional car insurance add-ons cover increase the premium. The more add-ons you select, the higher your overall premium will be.
Registration Date and Location: The car's age, indicated by the registration date, affects its depreciation and value. Older cars typically have lower premiums. Cars registered in metro cities have higher premiums than those registered in non-metro areas.
Insured's Declared Value: Higher IDVs lead to higher premiums as they reflect the coverage amount.
Coverage Tenure: Long-term policies tend to cost more than annual policies.
How to renew electric car insurance online?
Car insurance renewal with Zurich Kotak is simple and convenient. Follow these easy steps to ensure your vehicle remains protected:
Visit www.zurichkotak.com, go to the Electric Car Insurance page, and click ‘Renew Policy’ under Car Insurance.
Enter your car’s registration number to fetch your existing policy and review details like IDV and add-ons (e.g., Zero Depreciation).
Modify coverage if needed, check the updated premium, and proceed to secure payment via credit/debit card, UPI, or net banking.
Download your renewed policy instantly after payment; a soft copy will also be emailed to you.
How to File a Claim for an Electric Vehicle?
Filing a claim has never been this easy – we made sure of it
Call us on 1800 266 4545 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy.
Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.
You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions.
An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.
On cashless facility confirmation, the vehicle can be repaired at a preferred network garage, on payment made directly to the garage.
You will only be required to pay the deductible as mentioned in the policy, and the depreciation value, salvage, etc., as informed by the surveyor.
Call us on 1800 266 4545 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy.
Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.
You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions.
An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.
Post work approval by the insurer, the vehicle can be repaired by the policyholder at the garage of their choice.
Submit all bills, payment receipt along with your policy details to us, and we will make the payment within 7 working days of completion of the documentation
List of documents required for filing a electric vehicle insurance claim
Get familiar with the documents needed for speedy claim process
Documents required for car insurance claim
To file an electric vehicle insurance claim for the situations mentioned above, you will need to provide the following documents:
Registration Certificate (RC) Copy
Policy Copy
Policy holder's valid ID proof
Drivers Driving license
FIR Copy (In case of theft and TP claim)
Duly filled Claim form
Any further requirements will be conveyed basis inspection
How to download your policy copy
Here is your step-by-step guide to access your policy copy
Losing your car insurance policy may lead you to pay heavy fines, although you have one. But now, you can immediately download your car insurance policy copy from our website.
Enter your policy number
Enter your registered mobile number Or your registered email Id
Click on Get OTP
Type the OTP and click on download car insurance policy document
Zurich Kotak General Insurance cashless network garages
Our cashless network garages makes roadside assistance a sleek experience at the time of uncertainty
Buying a car insurance gives access to cashless network garages which provides convenience and hassle-free car repairs covered by Zurich Kotak General Insurance without the need for upfront payment.
Car Insurance glossary
There's always more to know about Car Insurance
The Insured Declared Value (IDV) is the insurer's maximum coverage for a vehicle during a policy period. It is calculated using the vehicle's selling price and depreciation, and serves as compensation in case of total loss.
The No Claim Bonus is the discount on the own damage portion on the premium offered to the policyholder from the car insurance company for responsible driving and not filing damage claims during the preceding policy year.
Zero Depreciation Cover is an add-on wherein the entire claim amount is settled by the car insurance company without factoring in depreciation value of the insured car. This cover is applicable to vehicles that are less than 5 years old.
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Frequently Asked Questions
EV insurance is generally more expensive due to higher repair and replacement costs, particularly for components like batteries. The newer technology and specialised parts also increase the risk and cost of repairs, leading to higher premiums compared to regular vehicles.
You can buy car insurance add-ons for EV insurance, similar to regular car insurance. Common add-ons for EVs include battery damage coverage, roadside assistance, and protection against fire or theft, ensuring comprehensive coverage tailored to the unique needs of electric vehicle owners.
EV insurance premiums are based on factors like make, model, value, repair costs, safety features, and coverage type. Due to the higher repair costs for components like batteries, EV insurance tends to cost more than regular vehicle insurance.
If your EV is stolen, you can claim under comprehensive insurance, provided the theft is reported. EVs can be insured in India, with policies covering theft, accidents, fire, and third-party liability, ensuring proper protection for electric vehicles.
EV insurance is mandatory in India under the Motor Vehicles Act, requiring at least third-party liability coverage. You can also opt for comprehensive coverage for more protection, covering both your EV and third-party damages.
EV insurance typically costs 15-20% more than traditional car insurance due to higher repair costs for specialized components like batteries. The exact premium varies depending on the vehicle’s make, model, and coverage options.
EV insurance costs more due to the higher repair costs of specialized components like batteries and electric parts. The newer technology, limited repair centers, and higher replacement costs increase the risk for insurers, leading to higher premiums.
To choose the right insurer for your EV, consider factors like the insurer’s reputation, claim settlement process, and specialized EV coverage, including battery protection and roadside assistance. Compare premiums and customer reviews to find the best coverage for your needs.