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Buying insurance for electric vehicle, keep these things in mind, it will be beneficial

Insurance for Electric Vehicle: Due to problems like skyrocketing petrol-diesel prices and increasing pollution, people’s attention is turning towards electric vehicles. Governments are also giving incentives to buy electric vehicles. In such a situation, if you are also thinking of taking an electric vehicle, then you should also consider its insurance. Today we will tell you what things should be kept in mind while buying insurance for electric vehicle:-

coverage

  • Electric vehicles are costlier than diesel-petrol vehicles.
  • For an electric vehicle, such a policy should be taken, which gives more coverage.
  • Comprehensive coverage protects you from third party liabilities and own damage caused to the vehicle.
  • OD coverage can provide relief in the repairing bill in case of damage or theft to the vehicle due to accident, natural calamity, riots and fire.
  • In personal accident cover, you get security cover in case of bodily injury, partial or complete disability or death.

Insured declared value

  • Higher the insured declared value, higher will be the premium. However, in case of any loss, higher IDV gets you more compensation.
  • Electric vehicles are expensive, so a policy with higher IDV should be taken.

premium

  • Choose the premium in such a way that you do not face any inconvenience in paying it.
  • Coverage should not be compromised while choosing the premium.
  • Choose the policy which can provide maximum coverage at affordable premium.

claim settlement ratio

  • Special attention should be paid to the claim settlement ratio.
  • One should buy an insurance policy from such a company, where claim settlement can be done without any hassle.

add-ons

  • Additional benefits ie add-ons can also be added while buying an insurance policy.
  • There is a high premium to be paid for add-ons.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.

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