Employ These Tips While Buying Car Insurance For Electric Vehicles

Electric vehicles are the new talk of the town. With stricter emission norms, more manufacturers are stepping foraying into the electric car market. The main advantages of electric cars are they being noiseless along with no pollution to the environment by using the conventional forms of fuel. However, to use a more mature form of technology, it is seen to impact its price tag. 

Since all vehicles must have a valid insurance certificate, electric cars are no exception. A higher price tag of the car implies higher insurance costs too. As the electric car market is still developing, there are no separate policies, but instead the same comprehensive or third party car insurance plans cover electric cars too. 

Buying tips when shopping for electric cars

Electric cars have different mechanisms than conventional fuel-based cars. Thus, it is necessary to evaluate your car insurance policy differently. The distance an electric car can travel is measured to determine its range. It differs for the different models and manufacturers. Moreover, the charging time is also a crucial factor. When you purchase an insurance cover, make sure the various critical components like the battery, charging points, events of mechanical and electrical failure are covered by your policy. 


Further, make sure the insurance cover is determined on the appropriate value of your car. This way, adequate coverage will be provided for the entire cost of your car. You should also check if the sum insured is sufficient to cover for damages in case of an accident. 

Next, keep a check on the IDV or insured declared value of your car, Since it is the maximum amount that your insurer pays in case of an accident or damages, it is an important factor to consider when buying car insurance online for your electric car. Also take note that as per guidelines issued by IRDAI, electric vehicles are eligible for a 15% discount on third-party premiums.

Electric cars do not have conventional engines but have complex mechanical parts. Opting for an engine protection add-on that ensures any damage to the motors as well as the battery of your electric car will help avoid heft cost of repairs. Further the risk of battery leakages, damage to charging sockets, towing to the nearest charging point along with roadside assistance is something to look for when buying car insurance specifically for electric cars. 

Investing a zero depreciation add-on can come handy as the repairs for these electric cars can be expensive. At the time of claim, the insurance company deducts the depreciation in other cases but not when you purchase a zero depreciation add-on.

What is the need for a car insurance policy for electric cars?

Having an insurance policy will ensure your car is safe from damages and perils of nature. Third-party liabilities can also be covered under a car insurance policy. Moreover, it is a legal mandate to have one irrespective of the type of car. Further, you can ensure damages due to accidents to you, as well as your car is insured under specific types of policies. 

Finally, there is no doubt that electric cars are here to stay. They run on more environment-friendly means but opting for a suitable insurance cover is equally necessary. Since its spares are expensive, the right add-ons can help you manage the cost of repairs. While selecting add-ons, a car insurance premium calculator can come handy. Make sure to purchase in a decent insurance plan to ensure maximum coverage while selecting your electric car.

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