Insurance
Everything about EV insurance
EV insurance is nearly identical to ICE-vehicle insurance in India — with a few small but important differences.
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The 15% government discount
IRDAI has mandated a 15% concession on the own-damage premium of private EVs. Every insurer applies it automatically.
Battery replacement cover
The single most important add-on. Standard OD does not cover total battery pack replacement in most cases — this add-on does.
IDV calculation
IDV is based on the ex-showroom price minus depreciation. For a new EV, this is 95% of ex-showroom in year one.
Best insurers for EVs (2025)
HDFC ERGO, Bajaj Allianz, ICICI Lombard, Tata AIG and Digit all offer dedicated EV plans with battery-inclusive cover.
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