3 weeks ago

Monsoon car insurance: essential covers and add-ons for EV owners

When the monsoon season comes, there is a lot of rain and streets can flood.

Rain can damage cars, and fixing them can cost a lot of money.

Car insurance is a kind of protection that helps pay for repairs.

But a normal insurance plan does not cover every kind of rain damage.

Electric cars have special parts, like big batteries and motors, that are very sensitive to water.

These parts are also very expensive to fix or replace.

That is why experts suggest buying extra insurance add-ons.

Add-ons like Battery Protect help if the battery gets wet, and Zero Depreciation means you get the full cost back for new parts.

Roadside Assistance helps if your car stops working, and Tyre Protect covers tires hurt by potholes.

So, people with electric cars should think carefully about their insurance before the rains come.

Key facts

Mandatory insurance: Third-party liability insurance required for every EV, like any other vehicle
Comprehensive policy covers: Accidents, fire, theft, natural calamities and other unforeseen events
Vulnerable EV components: Lithium-ion batteries, electric motors, battery management systems, onboard charging equipment
Recommended add-ons: Battery Protect, Zero Depreciation Cover, Service Assure Roadside Assistance, Return to Invoice, Tyre Protect
Expert quoted: Gaurav Arora, Chief – Commercial Lines & Motor (Underwriting & Claims), ICICI Lombard
Insurer mentioned: ICICI Lombard
Main monsoon risks: Heavy rains, flooded streets, waterlogging, potholes and submerged road hazards

businesstoday.in · 3 weeks ago