IndusInd Electric Car Insurance
Owning an Electric Vehicle (EV) comes with unique benefits and specific challenges, which
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IndusInd EV Insurance Premium Calculator
You can calculate IndusInd EV insurance premium online using the car insurance premium calculator. Additionally, here is the formula to manually calculate it:
Comprehensive EV Insurance Premium = Own Damage Premium - (No-Claim Bonus + discounts (if any)) + Third Party EV Premium (fixed by IRDAI)
The Insurance Regulatory and Development Authority of India (IRDAI) sets third-party EV insurance premiums, and are based on the EV's battery capacity. Have a look at the table below:
| EV Capacity |
Third-Party Premium |
| Below 30 kWH |
Rs. 1,780 |
| Between 30 and 65 kWH |
Rs. 2,904 |
| Above 65 kWH |
Rs. 6,712 |
*Disclaimer: (The premium prices are decided by IRDAI and are subject to change. Always refer to the IRDAI's official website for latest updates on insurance premiums.)
IndusInd Electric Car Insurance Add-Ons
When purchasing or renewing car insurance for your EV, consider opting for these important add-ons for broader coverage:
- Battery Protect Cover: With IndusInd electric car insurance, you can extend your standard coverage to your EV's battery and charging equipment by opting for the battery protect cover. It covers the replacement or repair cost of these components in case of damages due to accidents, short circuits, or water ingression.
- Zero Depreciation Cover: Pairing the battery protect add-on with the zero depreciation cover ensures that the depreciation value of the replaced or repaired parts of the insured EV is not deducted in case of an own-damage claim, and you receive a 100% claim payout from your insurer (except the deductibles).
- Return to Invoice (RTI) Cover: The Return to Invoice (RTI) add-on, also known as the Invoice Protect cover, provides the original invoice value of the insured EV in the event of a total loss or theft. The compensation amount includes the ex-showroom price of the EV, registration charges, and road tax.
- Roadside Assistance (RSA) Cover: In case your EV breaks down on the road, you can avail emergency services, such as towing, fuel delivery, flat tyre repair, and minor repairs through the RSA in car insurance add-on to your EV policy. It is important to note that availing RSA services does not count as a claim, so your No-Claim Bonus (NCB) remains unaffected.
How to Buy or Renew IndusInd Electric Car Insurance?
You can renew or purchase car insurance for your EV offered by IndusInd General Insurance in just a few minutes:
- Visit the 'Electric Car Insurance' page on Policybazaar.com.
- Enter your EV's registration number.
- In case of a new vehicle, select 'Brand New Car.'
- Next, input your EV's make and model, variant, RTO, and other details.
- Select your existing car insurance expiry date and choose if you previously made a claim.
- Now, from the list of various policies, select IndusInd EV insurance, and choose any add-ons (if required).
- Make the premium payment online and your policy will be sent to your email address.
How to File an IndusInd EV Insurance Claim?
Here is the straightforward process for raising a claim against your IndusInd electric car insurance:
- Claim Registration: Inform IndusInd General Insurance about the unfortunate incident and raise a claim request.
- Damage Inspection: Once your claim is registered, your insurer will assign a surveyor to inspect damages to your electric car.
- Document Submission: Provide the necessary documents, such as the claim form, your EV's RC, ID/ address proofs, driving licence, etc., to the surveyor.
- Claim Settlement: After document verification and claim approval, you can proceed with your EV repairs.
- Cashless Claims: If you get your EV repaired at an authorised garage, your insurer will settle the claim directly with the garage, which saves your out-of-pocket expenses (except deductibles).
- Reimbursement Claims: In case of repairs in a non-network garage, you first pay for the repairs from your pocket, and the insurer will later reimburse you.
For third-party claims, you also need to file the FIR with the local Police. If your insured EV causes a major injury or damage to the third party or their property, record the evidence and do not leave the accident scene. Remember not to make a direct settlement with the third party without informing your insurer. The claim for these cases are settled by the Motor Accident Claims Tribunal (MACT).
Documents Required for Raising IndusInd EV Insurance Claim
Here is the list of documents you will require at the time of filing a claim against your IndusInd car insurance for your EV:
- Completely filled and signed claim form
- Your EV insurance policy copy
- Police FIR
- Your EV's registration certificate and driving licence
- Aadhar/PAN Card
- Repair Estimate
- Cancelled cheque (in case of a reimbursement claim)
