EV insurance claims cost 14% more, battery cover hits 70%
In short
EV insurance claims cost 14% more, and battery cover use reached 70%, a report said. It also said monsoon claims averaged nearly Rs 65,000, and Tier-II cities had 33 claims per 100 insured EVs versus 30 in Tier-I cities.
This matters for EV owners and insurers because repair and claim costs may be rising. The reporting does not say what caused the higher costs or whether the trend will continue.
What the reporting says
EV insurance claims cost 14% more, and battery cover adoption hit 70%, according to a Policybazaar-linked report. The publisher-supplied summary also says monsoon claim costs averaged nearly Rs 65,000, while Tier-II cities reported 33 claims per 100 insured EVs versus 30 in Tier-I cities. The reporting does not say why claims were costlier or how broad the sample was.
Why it matters
EV insurance claims cost 14% more, while battery cover adoption reached 70%, according to the publisher-supplied summary. The same report says monsoon claim costs averaged nearly Rs 65,000 and that Tier-II cities had 33 claims per 100 insured EVs versus 30 in Tier-I cities. That points to higher EV insurance costs for owners and underwriters, but the reporting does not explain the drivers or timeframe.