National Electric Car Insurance
National electric car insurance financially protects you against specific risks associated with
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Key Features of National EV Insurance
Have a look at the features included in a National electric car insurance policy:
| Features |
Coverage & Benefits |
| Third-Party Coverage |
Yes |
| Personal Accident (PA) Cover |
Up to ₹15 Lakhs |
| No Claim Bonus (NCB) |
Yes (Up to 50%) |
| No. of Zero Dep Claims |
2 |
| No. of Non-Zero Dep Claims |
Unlimited |
Benefits of National Electric Car Insurance
When you buy an EV insurance policy by the National Insurance Company Limited, you get:
- Coverage for EV-specific components like battery, motor, and charging systems
- Protection against short circuits, water ingress, and electrical failures
- Extensive network of cashless garages for smooth repairs
- Hassle-free claim process with quick settlement turnaround
- Customisable add-ons for enhanced protection
Types of National EV Insurance Policies
In India, the motor insurance structure for Electric Vehicles (EVs) is similar to that of traditional fuel-based cars. Here are the three types of electric car insurance offered by National General Insurance:
-
Third-Party (Liability Only) Policy
The third-party insurance policy is mandatory under the Indian Motor Vehicles Act, 1988. It covers legal liabilities arising due to injury, death, or property damage to a third party. Under this plan, the Motor Accidents Claims Tribunal (MACT) decides the compensation for injuries or fatalities. On the other hand, the claim settlement amount for damages to third party's property is limited to ₹7.5 lakh.
-
Own Damage (OD) EV Insurance
Covers damages to your insured electric car due to accidents, theft, fire, or natural disasters. You can purchase this policy along with your existing third-party EV plan for a wider protection.
-
Comprehensive Electric Car Insurance
Offers complete protection by covering both third-party liabilities and damage to your own EV in a single plan. You can further enhance it with add-ons for enhanced coverage.
National EV Insurance Premium Calculator
The premium for third-party EV insurance is decided by the Insurance Regulatory and Development Authority of India (IRDAI), which is based on the EV's battery capacity, and is mentioned below in the table:
| EV Battery Capacity |
Premium Rates |
| Below 30 kWh |
₹1,780 |
| Between 30 kWh & 65 kWh |
₹2,904 |
| Above 65 kWh |
₹6,712 |
*Disclaimer: IRDAI regulates these premium prices and are subject to change. Always refer to IRDAI's website for the latest updates on insurance premiums.
For comprehensive EV insurance premium prices, you can use the car insurance premium calculator. Alternatively, here is the formula:
Comprehensive Electric Car Insurance Premium = (Own Damage Premium - (NCB + Discounts)) + Third-Party Premium (fixed)
Add-on Covers for National EV Insurance
You can extend the coverage for your EV by opting for these add-ons under National comprehensive car insurance:
- Zero Depreciation Cover: The Zero Depreciation cover offers the Full claim without factoring depreciation on the repaired or replaced EV parts
- Battery & Charging Equipment Cover: The Battery Protection cover Includes coverage for damages to the EV's battery and charger
- Roadside Assistance: The RSA in car insurance add-on offers emergency support services like towing, flat tyre, etc.
- Return to Invoice (RTI): The Invoice Protect cover, also known as 'Return to Invoice' add-on cover provides the original invoice value of the EV in case of total loss, which is theft or damage beyond repair.
- Consumables Cover: The consumables cover in car insurance offers coverage for nuts, bolts, oils, etc., which need to be replaced in an accidental repair.
*Disclaimer: The number of claims under the zero dep add-on is limited to 2 during the policy term.
How to Buy/Renew National Electric Car Insurance?
Here is how you can easily buy or renew electric car insurance online offered by National General Insurance Limited:
- Visit the 'Car Insurance' section on Policybazaar.com.
- Provide your EV registration number or select 'Brand New Car'.
- Enter your EV make/model, variant, RTO, etc., along with contact information.
- From multiple insurance quotes, select the National EV insurance policy.
- Select necessary add-on covers to enhance your coverage.
- Make the payment online via a preferred mode.
- Instantly receive your National electric car insurance policy via email.
How to File a National EV Insurance Claim?
Here are the simple steps to raise an accidental claim under your National electric car insurance:
- Inform the insurer immediately after the accident.
- Register the claim and obtain the claim number.
- Get your electric car inspected by the surveyor for damages.
- Submit the required documents for verification and claim approval.
For repairs done at a network garage, the insurer will settle the bill directly with the garage (cashless). In case of a non-network garage, you need to pay for the repairs first, and the insurer will process the reimbursement after verifying all the bills.
What are the Documents Needed for a National EV Insurance Claim?
When raising an electric car insurance claim, you need these documents:
- Filled & signed claim form
- Your EV insurance policy
- Copy of your EV's registration certificate (RC) and driving licence
- FIR (in case of theft or third-party claims)
- Estimate of the repair
- ID/address proofs
