Electric vehicle (EV) insurance: Coverage for battery replacement, roadside assistance top insurance add-ons, finds survey

Premium is the top consideration while picking insurance, claims a recent ICICI Lombard survey on electric vehicles.

Source: ICICI Lombard ‘Eco-Friendly Evolution: Electric vehicle adoption and its impact on motor insurance’ study by Hansa Research. The survey was conducted among 539 respondents, in May 2024, in metro cities.

Why did you switch to/buy an electric vehicle?

In which areas does EV need improvement?
Long charging time is top irritant

Fuel cost savings top reason for Bengaluru
Ease of charging a big factor for buying compared to a year ago

Which of the following add-ons did you opt for?
Roadside help top insurance add-on

What are the top factors while considering EV insurance?
Premium remains main consideration while buying EV insurance

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