A comprehensive motor insurance policy provides financial protection against risks such as accidents, natural disasters, fire, theft, and third-party liabilities. While a comprehensive policy provides necessary coverage, experts believe electric vehicle owners should consider opting for a specific EV cover, such as the EV Shield add-on, to protect their vehicles. “This add-on typically helps cover the repair costs of EV-specific components, including expensive parts like the battery, electric motor, and charging equipment that can otherwise significantly increase repair bills,” said Aditya Kumar, Head-Motor Underwriting, Digit Insurance.
Coverage for Charging Risks and Battery Issues
It typically also covers charging-related risks, providing protection against damage to the home charging unit, charging cable, or electrical panel used to charge your EV. It is also useful for battery-related issues, helping to cover costs arising from battery damage, short circuits, or malfunctions caused by external impacts or unexpected events.
“Additionally, some insurers also include EV-specific roadside assistance, which offers support during battery drain, vehicle immobilisation, or charging-related breakdowns. As EV repair and replacement costs can be inherently higher, this add-on can successfully help reduce out-of-pocket expenses during a claim,” Kumar added.
Essential Add-Ons for High-Value Repairs and Total Loss
According to Kumar, in addition to the EV shield cover, several specific add-ons provide comprehensive financial protection. “The consumable cover helps cover the cost of small but essential components that may need replacement during repairs, such as screws, nuts, and bolts. Furthermore, as replacing specialised EV components can be expensive, the Zero Depreciation add-on is vital,” he said.
It removes the depreciation factor on the vehicle and its parts, ensuring the policyholder receives the full cost of repairs and replacements during a claim. In severe cases of theft or a catastrophic natural calamity that causes damage beyond repair, the Return to Invoice cover helps pay the complete invoice value of the car.
Everyday Convenience and Usage-Based Coverage
Additional features protect the owner’s overall mobility and budget. Opting for a Daily Conveyance add-on keeps you moving by offering a fixed daily allowance or a standby vehicle while your EV is in the garage for repairs. For physical hazards on the road, the Tyre Protect add-on safeguards against bursts, bulges, or cuts, while the Key and Lock Protect handles the costs of repairing or replacing the car’s lockset in the event of damage. Owners can also opt for the Loss to Personal Belongings cover, which provides compensation for specified belongings stolen or lost from within the vehicle. Finally, the Pay As You Drive add-on offers a premium structured around your actual driving usage, helping you save on premium costs on renewals.
Key Rules and Guidelines for Claim Validity
Any modifications done to the vehicle should be reported to the insurer. If your electric vehicle is submerged under water, do not try to start it, as this may lead to contributory negligence. Carrying out repairs at unauthorised service centres or replacing parts and units not authorised by the OEMs can damage the battery and affect the claim. Always read the policy document carefully to understand the coverages, inclusions and exclusions.
Meanwhile, the Delhi Cabinet has approved the EV Policy 2026, which offers 100 per cent exemption on road tax and registration fees.
ALSO READ:
