Let us know about some important rules related to electric vehicle insurance.
What is included in insurance
Road accidents- Damage, loss due to road accident to the vehicle owner is compensated by the insurance company.
Replacement and Repair- If your electric car has any kind of parts to be repaired or replaced, then the insurance company will pay the cost on your behalf.
Car theft- In case of theft of the car, the insurance company will provide coverage as per the total loss close under the car insurance policy.
Fire- If there is any kind of damage in the event of fire in the car, then the insurance company will bear the cost of its repair on your behalf. But if the vehicle is more than 70% damaged, then the money is given under the total loss coverage.
Natural calamity- In case of disasters like floods, earthquakes, the damage caused to the vehicle is also compensated.
Third party liability- It is necessary to take third party insurance under the Motor Vehicle Act, 1988.