New India Assurance Electric Car Insurance
If you are considering an EV, secure it with New India Assurance electric car insurance. It
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Key Features of New India Assurance Electric Car Insurance
New India electric car insurance comes with these features and benefits:
| Features |
Coverage & Benefits |
| Third-Party Coverage |
Yes |
| Personal Accident (PA) Cover |
Up to Rs.15 Lakhs |
| No Claim Bonus (NCB) |
Up to 50% |
| No. of Zero Dep Claims |
2 |
| No. of Non-Zero Dep Claims |
Unlimited |
Why Should You Consider New India Assurance EV Insurance?
Below are the key reasons why you should consider opting for New India Assurance electric car insurance:
- The company operates in over 25 countries, which shows a robust international service standard.
- Access to over 3,000 authorised cashless garages across India, through which you can avail of repair services without paying from your pocket.
- Offers EV-specific coverage and add-on options.
Types of New India Assurance EV Insurance Policies
New India Assurance General Insurance Company offers the following three types of electric car insurance:
-
Third Party (TP) EV Insurance
A third party EV policy covers financial or legal liabilities arising out of third-party injury or death or property damages due to road accidents. The compensation in case of injury or death is unlimited, while for property damages, it is up to Rs. 7.5 Lakh.
-
Standalone Own Damage (OD) EV Insurance
The own-damage (OD) policy can be purchased with an existing TP policy to cover damages to the insured electric car from collisions/accidents, fire, theft, natural disasters, man-made acts, etc.
-
Comprehensive Electric Car Insurance
A comprehensive EV policy includes coverage for both third party liabilities and damages to the insured EV. Moreover, you can further enhance the comprehensive coverage by opting for add-ons for an additional amount.
New India Assurance EV Insurance Premium Calculator
Third-party insurance premiums for electric cars are set by the Insurance Regulatory and Development Authority of India (IRDAI) and are based on the EV's battery capacity. Have a look at the table below to know the TP premium prices for EVs.
| Battery Capacity (kWH) |
EV Insurance Premium Rates |
| Less than 30 |
Rs. 1,780 (approx) |
| Between 30 - 65 |
Rs. 2,904 (approx) |
| Exceeding 65 |
Rs. 6,712 (approx) |
*Disclaimer: (These prices are decided by IRDAI and are subject to change. For latest prices, always refer to the IRDAI's official website.)
Additionally, to calculate premium for a comprehensive EV policy, you can use the car insurance premium calculator or determine it manually through the following formula:
Comprehensive EV Insurance Premium = Own Damage Premium Price - (No claim bonus + discounts (if any)) + (Third Party EV Premium)
Add-On Options Under New India Assurance EV Insurance
New India Assurance electric car insurance has the following add-on covers that you can opt for with a comprehensive policy by paying an additional premium amount:
-
Battery Protect Add-on
EV batteries are costly and prone to damage that a standard EV insurance policy does not cover. With the battery protect add-on, you can protect yourself financially against expenses that may arise from electrical failures or water ingress.
-
Zero Depreciation Cover
The Zero Depreciation cover offers financial protection by covering the depreciation amount deducted from the value of the replaced or repaired car parts in case of a own damage claim.
*Disclaimer: The number of claims under the zero dep add-on is limited to 2 during the policy term.
-
Emergency Roadside Assistance (RSA)
The RSA in car insurance add-on with your New India EV insurance policy will offer emergency assistance in case of a car breakdown scenario on the road. Services under this add-on include minor repairs, flat tyres, towing, spare keys, etc.
-
Return to Invoice (RTI) Cover
The Return to Invoice (RTI) add-on will compensate you for the original invoice value (ex-showroom price, registration fees & road tax) of your EV in case of a total loss (theft or damage beyond repair).
-
Consumables Cover
The Consumables add-on will cover the replacement cost of screws, nuts & bolts, grease, etc., after an accident involving your EV.
-
Downtime Protection
Under the downtime protection add-on, the EV policy will cover your expenses on travelling by cabs for daily & routine purposes while your EV is being repaired.
-
Tyre Protection Cover
The Tyre Protector add-on cover will cover the repair and replacement of your EV's tyres or tubes in case of an accidental damage.
-
Key & Lock Replacement Cover
The Key Replacement cover will cover the cost of replacing your EV's lockset and keys if they are lost, stolen or damaged. This coverage also includes the labour cost involved.
How to Buy or Renew New India Assurance EV Insurance?
Here are the simple steps to renew or buy electric car insurance from New India Assurance in just a few minutes:
- Visit Policybazaar.com, select 'Car Insurance,' and provide your EV details.
- From the list of various plans, select 'New India Assurance' and choose any add-ons if required.
- Review your policy coverage and the final premium price.
- Make the premium payment online through cards, UPI, or net banking.
- After successful payment, you will receive your electric car insurance policy on your email.
How to File a New India Assurance EV Insurance Claim?
Here is the straightforward procedure to raise a claim against your New India Assurance electric car insurance:
-
Claim Intimation
Immediately after the accident, inform the New India Assurance General Insurance Company and initiate the claim request.
-
Survey & Inspection
Upon claim registration, a surveyor will be assigned by your insurer for the inspection of damages to your EV.
-
Document Submission
Submit the claim form, vehicle RC, ID/ address proofs, driving licence, etc., to the surveyor.
-
Claim Approval
After document verification, you can take your electric car to an authorised cashless garage, and the insurer will settle the claim directly. In case of a non-network garage, the insurer will reimburse you later for the amount you paid for repairs.
Documents Required to Raise New India EV Insurance Claim
You need the following documents when filing a claim against your New India EV insurance policy:
- Filled & signed claim form
- Your electric car insurance policy copy
- Police FIR
- Your EV's registration certificate & driving licence
- Aadhar & PAN Cards
- Estimate of the repairs
- Cancelled cheque (in case of a reimbursement claim)
