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What is Electric Car Insurance?
Electric car insurance is a type of motor insurance that financially protects your electric vehicle against risks such as accidents, natural disasters, fire, theft, and third-party liabilities.
Unlike standard car insurance, an EV insurance policy is designed to address the unique needs of electric vehicles. In addition to covering damages, it can include specialised protection for key components like the battery, electric motor, charging equipment, and higher repair costs associated with EVs. In simple terms, it not only ensures legal compliance but also helps you manage the higher-value and technology-specific risks that come with owning an electric car.
Why Should You Buy Electric Car Insurance?
You can’t predict what might happen to your precious electric car. So, having electric car insurance can be a great help and offer financial protection in an unfortunate event. You must also keep in mind that having at least third-party car insurance is mandatory in India.
Here's why you should get electric car insurance India:
EV insurance for electric cars acts as a safety net and protects your car in unforeseen circumstances. Under the Comprehensive Policy, you get coverage for your own damage liabilities, while in a situation where you have caused an injury or damage to a third-party, it will be covered under third-party policy.
Getting an electric vehicle insurance for your car will also help you comply with the law to drive electric cars on Indian roads.
Since electric vehicles are comparatively new in the Indian market, the cost of repairing electric motors and other EV-specific components can more than for fuel-run cars. Therefore, having EV insurance for electric cars helps take care of these costs.
EV insurance also covers specific requirements related to electric vehicles such as electric motors, batteries, and charging systems, depending upon your insurer.
Having car insurance for your electric vehicle also ensures peace of mind as you get financial security in case of any unfortunate event.
Best for: EV owners with high-value cars, frequent charging usage, or exposure to urban risks like flooding or theft.
What’s Covered in Electric Car Insurance by Digit?
What’s Not Covered in Electric Car Insurance by Digit?
Here are some situations which are not covered under electric vehicle insurance policy:
In the case of a Third-Party or Liability Only Car Policy, damages to own vehicle won’t be covered.
You can’t make a claim if the driver was driving drunk or without a valid driving licence at the time of mishap.
In case of an accident if the driver is found with a learner’s licence or without a valid driving without a valid driving licence, no claim is registered.
Any damage which is not a direct result of the accident (e.g. after an accident, if the damaged electric car is driven incorrectly and the engine gets damaged) will not be covered.
Any contributory negligence (e.g., damage due to driving the electric car in a flood, which is not recommended as per the manufacturer’s driving manual) will not be covered.
If you haven’t bought an add-on, the corresponding benefits will not be covered, and hence no claim will be provided against them.
Add-on Covers with Electric Car Insurance by Digit
Car insurance add-ons which you can buy with your car insurance policy
EV Shield add-on cover compensates you in case of loss or consequential damage to your EV or Hybrid Vehicles (petrol/diesel + electric), including loss or damage to the electrical panel for the vehicle charging point, vehicle charger including charging cable, and roadside assistance services related to EV’s battery issues.
The zero depreciation cover removes the depreciation amount charged on your car and its parts and gives you the full value of repairs, costs and replacements during a claim.
This tyre protect add-on gives you the benefit of safeguarding and covering for tyre damage such as tyre bursts, bulges or cuts during all other situations possible.
We all need a little help sometimes! Our Breakdown Assistance Add-On gives you the benefit of getting help whenever required, i.e. assistance during car breakdowns at any time you'd like – and it doesn't even count as a claim!
A consumable cover covers the cost for all your electric car's nitty-gritties, such as screws, nuts and bolts, grease, etc., in case of an accident.
Pay as you drive cover allows the policyholder to pay only as per the kilometers covered by the insured EV, which is up to 10,000 km. The option to top up kilometers is also offered under the base policy by paying additional premium.
The Daily Conveyance Benefit add-on compensates the policyholder for daily transport in the form of a fixed daily allowance or a standby vehicle for the time when the insured electric vehicle is in the garage for repair.
The cost of repairing or replacement of the lockset in the car in case of theft, loss or damage is covered by the insurer as part of the Key and Lock Protect add-on cover.
If the policyholder or any immediate family member suffers from any loss of personal belongings specified as per the policy when kept in the insured EV, it shall be compensated by the insurer under this add-on.
With return to invoice add-on you get back the complete amount of your car's invoice value in case of theft or damage beyond repair, including the cost of registering a new vehicle and its road tax respectively.
Importance of EV Shield Add-On Cover with EV Insurance
The EV Shield add-on enhances your policy by covering high-cost EV components like the battery, charging system, and electrical parts, ensuring better financial protection against specialised and often expensive electric vehicle risks.
Protects high-cost EV components
Covers expensive parts like the battery, electric motor, and charging equipment, which can significantly increase repair bills in case of damage.
Covers charging-related risks
Provides protection against damage to the home charging unit, charging cable, or electrical panel used for charging your EV.
Accounts for technical and internal damages
Goes beyond visible damage by covering electrical or internal failures that can occur after an accident.
Useful for battery-related issues
Helps cover costs arising from battery damage, short circuits, or malfunction due to external impact or unexpected events.
Includes EV-specific roadside assistance
Offers support in situations like battery drain, vehicle immobilisation, or charging-related breakdowns.
Reduces high out-of-pocket expenses
Since EV repair and replacement costs are higher, this add-on helps minimise what you pay from your own pocket during a claim.
Enhances standard policy coverage
A basic comprehensive policy may not fully cover all EV-specific risks, this add-on fills those critical gaps.
Ideal for new and high-value EVs
Especially important for new electric cars where component replacement costs are significantly higher.
Improves overall claim value
Ensures you receive better compensation by covering EV-specific damages that are otherwise excluded.
Provides better peace of mind
Helps you drive confidently knowing that both visible and technical EV risks are financially covered.
Why Choose Electric Car Insurance by Digit?
Key Features of Electric Car Insurance by Digit
Electric Car Insurance Plans That Fit Your Needs
Third-Party vs Comprehensive vs Own Damage Electric Car Insurance Policy11
| Third-Party | Comprehensive | Own Damage |
Damages/Losses to own car due to an accidentCovers for damages to your own car in case of an accident or collision. |
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Damages/Losses to own car in case of fireCovers for damages and losses to your own car caused due to a fire. |
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Damages/Losses to own car in case of a natural calamityCovers for damages and losses caused to your own car due to a natural calamity such as floods, earthquakes, cyclone, etc. |
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Damages to Third-Party VehicleCovers for damage caused by your car to any third-party vehicle, up to 7.5 lakhs. |
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Damages to Third-Party PropertyCovers for damages and losses caused by your car to any third-party property, to up to 7.5 lakhs. |
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Personal Accident CoverCovers for owner-driver's bodily injuries or death. (Mandatory by law, one can opt in for the same if they don’t have one already). |
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Injuries/Death of a Third-Party PersonCovers for bodily injuries or death caused by your car to any third-party person, up to unlimited liability. |
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Theft of your carCovers for losses if your car is unfortunately stolen. |
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Customize your IDVCustomize the IDV of your car as per your choice and consequently adjust your car insurance premium accordingly. |
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Extra protection with customized add-onsGive your car an extra layer of protection with customized add-ons such as tyre protect cover, engine and gearbox protection, zero depreciation add-on, etc. |
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| Get Quote | Get Quote | Get Quote |
Know more about:- Difference between Comprehensive and Third Party Insurance.
Electric Car Insurance Own Damage Premium Price
Disclaimer - The premium calculation is done for Tata Nexon EV Prime XM, including GST, for ex-showroom Delhi, given the NCB is 50%, no add-ons, previous policy is not expired, & IDV is the lowest available.
Electric Car Insurance Premium Calculator
Car insurance premiums for private electric cars are based on many factors, like kilowatt capacity, make, model, and age.
However, Insurance Regulatory and Development Authority of India (IRDAI) has fixed the electric car insurance rates for the mandatory third-party electric car insurance in India. So, the new electric cars in India are already covered under 3rd party policy for three years.
Also, as a measure to promote electric vehicles in India, IRDAI has set a 15% discount on third-party insurance premium rates for EV, as compared to petrol and diesel vehicles.
What Affects Electric Car Insurance Premium?
Your EV insurance premium depends on factors like the battery value, car model, usage, location, and the coverage options you choose.
Battery Value & Capacity: The battery is the most expensive part of an EV, so a higher battery value directly increases the insurance premium.
Vehicle Model & Variant: Premium or high-performance electric cars have higher repair and replacement costs, leading to higher premiums.
Location (RTO/City): Vehicles used in flood-prone, high-traffic, or theft-prone areas usually have higher premiums due to increased risk.
Insured Declared Value (IDV): A higher IDV increases the premium but ensures a better payout in case of total loss or theft.
Add-ons Selected: Choosing add-ons like EV Shield, zero depreciation, or return to invoice increases the premium but reduces out-of-pocket expenses during claims.
Vehicle Usage: Frequent driving or long daily commutes increase exposure to risk, which can impact the premium.
Claim History (NCB): A higher No Claim Bonus reduces the premium, while past claims can increase renewal costs.
Age of Vehicle: Older EVs have a lower IDV but may have higher repair risks due to wear and tear.
Charging Behaviour: Frequent use of fast or public charging can increase wear on electrical components, influencing risk assessment.
Repair Ecosystem: The availability and cost of specialised EV service centres and parts can affect how insurers price the policy.
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Note: All prices here are the ex-showroom price in Delhi.
When Does EV Insurance Become Critical?
Electric car insurance becomes especially important in these situations:
Driving in flood-prone cities
Using public or fast-charging stations frequently
Owning a high-value EV with expensive battery replacement costs
Long daily commutes where wear on electrical components is higher
These use cases increase the probability of high-cost, low-visibility risks, which standard policies may not fully address.
Common Reasons EV Insurance Claim Might Get Rejected
Understanding these common mistakes can help you avoid claim rejection and ensure a smoother claim process:
Unauthorised modifications in the EV
Claims can be rejected if the vehicle has been modified without informing the insurer.
Consequential or indirect damages
Damages that are not a direct result of the incident (like further damage caused after the accident) are usually not covered.
Add-ons not included in the policy
EV-specific damages (like charger or battery issues) won’t be covered if the relevant add-on has not been purchased.
Violation of policy terms and conditions
Any breach of policy rules, such as using a private car for commercial purposes, can lead to rejection.
Failure to provide required documents
Missing documents like FIR, claim form, or repair bills can delay or result in claim denial.
FAQs about Electric Car Insurance
Which type of electric insurance is best?
Comprehensive bike insurance for EVs is usually considered as the best option as it comes with more extensive coverage – covering both the mandatory third-party liability insurance and own damages. Moreover, given that electric bikes are slightly more expensive, it is better to choose an insurance policy that will cover it completely.
How to get the right insurance plan for my EV car?
To get the right EV insurance policy first understand your requirements if you want a comprehensive plan or a third-party plan is enough. Then compare the policies offered by different insurers, such as Digit, to get the most suitable one.
Can I transfer my existing car insurance to an electric car?
No, insurance cannot be transferred between vehicles. You will need to buy a new policy for your electric car, but you can transfer your No Claim Bonus (NCB) from your old policy.
What happens if my EV battery gets damaged after long-term use?
Insurance typically covers battery damage only if caused by insured events like accidents or floods. Wear and tear or gradual performance degradation is not covered.
Does modifying my electric car affect insurance claims?
Yes, unauthorised modifications can lead to claim rejection. Always inform your insurer about any modifications to ensure they are reflected in your policy.
Is home charging equipment covered under EV insurance?
Home charging units and cables are usually not covered under standard policies. You may need an add-on like EV Shield to get protection for these components.
Will using public charging stations affect my insurance?
Using public charging stations is generally allowed, but any damage due to unsafe or improper charging may not always be covered unless specified in the policy.
Can I increase or decrease my EV’s IDV later?
Yes, you can adjust the IDV at the time of policy purchase or renewal within insurer limits. This helps balance your premium and claim value.
Does EV insurance cover software or electrical faults?
Only if the fault is caused by an insured event. Internal or manufacturing defects are usually not covered under insurance policies.
What happens if I don’t renew my EV insurance on time?
A lapse in policy can result in loss of benefits like NCB and leave your vehicle uninsured. You may also need inspection before renewal.
Can I insure a used or second-hand electric car?
Yes, used EVs can be insured just like new ones. The premium will depend on the vehicle’s age, condition, IDV, and previous claim history.
Does EV insurance cover roadside battery breakdown?
Battery-related breakdown assistance is usually covered only if you opt for a roadside assistance or EV-specific add-on.