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Electric Car Insurance Overview

Embrace the future of mobility with confidence, knowing that your eco-friendly journey is protected. As the world shifts towards sustainable transportation, we at Shriram General Insurance understand the unique insurance needs of electric car owners. Our specialized policies offer comprehensive coverage and tailored solutions for your electric vehicle, ensuring a smooth and worry-free ride. Safeguard your green investment today with our reliable electric car insurance plans.

Electric Car Insurance Overview
What is Electric Car Insurance?

What is Electric Car Insurance?

Electric car insurance is a type of insurance policy that covers electric cars. It provides monetary security in the event of accidental damages, burglary, or damage to the covered electric vehicle due to natural or manmade calamities.

The insurance policy considers the unique characteristics of EVs, such as their design, battery packs, and charging framework. Due to higher initial expenses incurred while buying electric vehicles, particularly expensive battery technology, electric car insurance is critical for EV owners. In the case of an accidental damage to your vehicle, EV insurance ensures the expense of repairing or replacing are covered under the insurance coverage.

Why Do Electric Cars Require Specialised Insurance?

Electric cars require specialised insurance due to their unique characteristics. Unlike conventional vehicles, electric cars use advanced battery technology, which can be expensive to repair or replace in case of damage.

Standard insurance policies may not fully cover the high costs associated with electric vehicle components. Specialised insurance for electric cars provides tailored coverage that considers the specific needs of these eco-friendly vehicles. By buying insurance specifically designed for electric cars, owners can ensure adequate financial protection.

Key Features of Shriram Electric Car Insurance

When it comes to protecting your eco-friendly ride, Shriram General Insurance offers comprehensive electric car insurance with a range of key features that ensure peace of mind and hassle-free coverage. Here are the top features of Shriram Electric Car Insurance:

Pocket-friendly Premium

Shriram General Insurance understands the value of your money, and that's why we offer affordable insurance plans. With minimal documentation requirements, you can easily get your electric car insured without breaking the bank.

Superfast Claim Registration

Filing a claim is made simple and convenient with Shriram Electric Car Insurance. The online claim process is easy and efficient, ensuring quick processing.

Extensive Add-on Options

To enhance your electric car insurance coverage, Shriram offers a wide range of exclusive add-ons. Customize your policy with add-ons like Key Replacement, Invoice Return, and Consumables covers for comprehensive protection tailored to your vehicle's needs.

Comprehensive Plans

Shriram Electric Car Insurance provides all-around protection with comprehensive insurance coverage. This includes protection against third-party liabilities, damages to your electric vehicle, theft, fire, natural disasters, and more.

On-Time Claim Assistance

With a strong Claim Settlement Ratio, Shriram General Insurance ensures timely claims processing, providing reliable compensation without unnecessary delays.

  • How to Buy Online Insurance for Electric Cars Online?

  • How to Renew Online Insurance for Electric Cars Online?

Purchasing insurance for your electric car from Shriram General Insurance's website or MySGI app is a simple and quick process. Follow these clear steps to buy electric car insurance online:


Visit our website or MySGI mobile app.


Provide the necessary information about your electric car.


Select the ideal electric car insurance plan based on your specific requirements.


Make the payment online to receive your policy instantly.

Renewing your electric car insurance with Shriram General Insurance is quick and convenient. Follow these step-by-step instructions to renew your electric car insurance online:


Visit the Shriram General Insurance website or mobile app (MySGI), and log in to your account.


Choose the policy for renewal and confirm your electric car details.


Select the ideal coverage based on your needs.


Pay the premium online for instant policy renewal.

Insurance Coverage Options for Your Electric Car

Your electric car is a valuable asset, and protecting it with the right insurance coverage is essential. At Shriram General Insurance, we offer a range of comprehensive insurance options tailored to your needs.

Comprehensive Electric Car Insurance Policy

Comprehensive Electric Car Insurance Policy

Our comprehensive electric car insurance plan provides all-inclusive protection for your eco-friendly vehicle. It covers damages from accidents, theft, natural disasters, fire, and third-party liabilities specific to electric cars. With this policy, you can enjoy peace of mind knowing that your electric car and your financial interests are well-protected.

Third-Party Electric Car Insurance Policy

Third-Party Electric Car Insurance Policy

As mandated by law, our third-party electric car insurance policy safeguards you from financial and legal liabilities arising from injuries or property damage to third parties. Having this coverage is essential for responsible driving and ensures that you are protected from unforeseen expenses due to third-party claims.

Own Damage Cover for
                                                                                                                             Electric Cars

Own Damage Cover for Electric Cars

Our Own Damage (OD) coverage offers comprehensive protection for your electric car against damages caused by unforeseen mishaps such as accidents, theft, natural disasters, and man-made calamities. You have the flexibility to purchase OD insurance along with your Third-Party Shriram Car Insurance policy at an additional rate, providing complete coverage for your electric vehicle. If you already have Third-Party (TP) liability car insurance, you also have the option to opt for a standalone OD-only cover car insurance policy for your electric car.

How to File a Claim for an Electric Car Insurance?

Shriram General Insurance makes the process of rasing claims online for your electric car insurance simple and hassle-free. Follow the below mentioned steps to submit your claim.

  • Step 01
  • Step 02
  • Step 03
  • Step 04

Visit the Shriram General Insurance website or download the MySGI app to access your account.


Select the policy to raise the claim for your electric car insurance and provide details about the damages.


Upload the necessary soft copies of documents required for quick and efficient claim registration.


Once you have completed the claim registration process, Shriram General Insurance's customer support team will guide you through the claims process.

Alternatively, you can also call us on 1800-300-30000/1800-103-3009 to raise the claim against your car insurance policy. Our customer support team will guide you through the car insurance claim process.

Add-ons for Electric Car Insurance

Electric car insurance can be further enhanced with a variety of add-ons, offering additional protection and benefits to electric vehicle owners. Here are some valuable add-ons to consider:

Choosing the right add-ons for your electric car insurance can significantly enhance your coverage and ensure comprehensive protection for your valuable eco-friendly vehicle. Evaluate your needs and preferences, and consider adding these valuable extensions to your policy for a worry-free and enjoyable driving experience.

Depreciation Waiver

Depreciation Waiver

With this add-on, you can avoid the impact of depreciation on your electric car's parts during a claim. It ensures you receive the full claim amount without factoring in depreciation, allowing for better cost coverage.

Daily Expense Reimbursement Cover

Daily Expense Reimbursement Cover

If your electric car undergoes repairs after an accident, this add-on covers the cost for alternate transportation, so your daily routine is not disrupted.

Motor Protection Cover

Motor Protection Cover

In case of an accident, we shall provide you with an advocate to defend you against the police and proceedings of in the court of judicial magistrate.

Consumables Cover

Consumables Cover

It covers the replacement cost of consumable items in your electric vehicle, such as lubricants and engine oils, during an accident or repair.

Personal Belongings Cover

Personal Belongings Cover

This add-on provides coverage for personal belongings damaged or stolen from your electric car during an unfortunate event. It safeguards your valuables, offering financial assistance for replacement or repair.

Emergency Transport and Hotel Expenses Cover

Emergency Transport & Hotel Expenses Reimbursement Cover

This add-on compensates for transportation and accommodation expenses if your electric vehicle breaks down far from home. It offers peace of mind during unforeseen situations, ensuring you reach your destination comfortably.

Key Replacement Cover

Key Replacement Cover

Losing or damaging your electric car keys can be stressful. This add-on covers the expenses of replacing or repairing your lost or damaged keys, saving you from significant inconvenience and expenses.

Engine Protector Cover

Engine Protector Cover

This add-on extends coverage to protect your electric vehicle's motor against damages due to water ingression or oil leakage. It safeguards one of the most critical components of your EV.

Steps to Download Your Electric Car Insurance Policy

With Shriram General Insurance, accessing and downloading your electric car insurance policy is quick and convenient. Follow these simple steps to get a copy of your policy document:

Step 01

Visit the Shriram General Insurance website or download the MySGI app to log in to your account.

Step 02

Once logged in, navigate to the policy section and select the electric car insurance policy you want to download.

Step 03

Look for the option "Download Car Insurance Policy Online" and click to initiate the download.

Steps to Download Your Electric Car

How to Calculate Electric Car Insurance Premiums?

To calculate the premium for electric car insurance, the primary factor taken into consideration is the Insured Declared Value (IDV). The IDV represents the current market value of the electric vehicle and is determined by considering the car's price at the showroom, including any accessories, and adjusting for depreciation per the guidelines of the Insurance Regulatory Authority of India (IRDAI).

Other factors that can influence the premium for electric car insurance include:


Vehicle Make and Model

The brand, make, and model of the electric car play a role in determining the premium. High-end electric vehicles may have higher premiums due to their higher replacement and repair costs.


Age of the Vehicle

Older electric cars may have lower IDV due to depreciation, which can result in lower insurance premiums.



The location where the electric car is primarily driven can impact the premium. High-traffic areas or regions with a higher risk of theft or accidents may have higher premiums.


No Claim Bonus (NCB)

If the electric car has a history of no claims during previous policy terms, the policyholder may be eligible for a No Claim Bonus. It allows a policyholder to enjoy a discount on the premium during policy renewal. You get up to 50% for not raising claims for 5 consecutive years.



Opting for add-on covers such as Zero Depreciation, mandatory Personal Accident Cover, Roadside Assistance, etc., can increase the premium but offer enhanced coverage and benefits.

To get an accurate premium estimate for electric car insurance, it is recommended to use an Electric Car Insurance Premium Calculator provided. The calculator can provide an instant quote by inputting relevant details about the electric vehicle.

Documents Required for Electric Car Insurance Claim at Shriram General Insurance

When filing an electric car insurance claim with Shriram General Insurance, you will need to submit the following documents:

Registration Certificate

A copy of the electric car's Registration Certificate (RC) is required for claim processing.

Driving Licence

A valid Driving License of the driver is necessary to verify their eligibility to drive the electric vehicle.

Claim Form

The claim form must be duly filled and signed by the policyholder. This form serves as an official request for claim settlement.

Estimate, Bills, Payment Receipt, and Discharge Voucher

In case of a reimbursement claim, you will need to provide an estimate of the repair cost, bills for any expenses incurred, payment receipts, and a discharge voucher after the claim is settled.

FIR (If filed or required)

In case of theft, major accidents, or any other circumstances where a First Information Report (FIR) is filed, a copy of the FIR may be required for the claim process. Submit the necessary documents to expedite the claim process.

Electric Car Insurance: What's Not Covered?

While electric car insurance provides comprehensive coverage for various risks, policyholders must know about certain exclusions. Electric vehicle insurance may come with the following exclusions

Own Damage

If the car owner does not have a comprehensive insurance plan, any damages to the electric vehicle will not be covered. It is essential to opt for comprehensive coverage to ensure protection against own damages, including accidents and collisions.

Alcohol-Impaired Driving

Driving under the influence of alcohol or drugs is not covered by electric car insurance. Any damages or liabilities arising from accidents caused by drunk driving will not be eligible for coverage.

Driving Without a Licence

If the driver does not possess a valid licence at the time of the accident that caused the damage, the insurer will not provide coverage. Driving without a valid licence is illegal and will result in the denial of insurance claims.

Consequential Damage

The insurer will not cover any loss or damage to the electric vehicle that did not occur due to direct contact with another vehicle or object while on the road. Damages resulting from indirect causes or events will not be covered.

Intentional Negligence

If the electric vehicle owner intentionally ignores the damage to their car, and it worsens before they decide to get it fixed, the insurer will not provide coverage for the damage. The vehicle owner will have to bear the cost of repair or replacement out of pocket.

Lapsed Insurance Plan

Maintaining active and continuous insurance coverage is crucial. If the electric vehicle insurance policy expires and it is not renewed on time, insurers will not provide any coverage. Any incidents or accidents occurring during the lapsed period will not be covered.

Frequently Asked Questions (FAQs)

These are some of the most frequently asked questions regarding Electric Car Insurance.

Does Shriram Electric Car Insurance offer specialized add-ons?

Yes, Shriram Electric Car Insurance provides specialized coverage options for add-ons, allowing electric vehicle owners to enhance their policy coverage as per their requirements. You can choose from add-ons such as Motor Protection Cover, Nil Depreciation Cover, Consumables Cover, Roadside Assistance Cover, and more.

How does Shriram General Insurance handle insurance claims involving electric cars?

Shriram General Insurance handles such claims in a standard manner, assessing the extent of damage and liabilities based on the policy coverage and circumstances of the accident.

In the event of a total loss of an insured electric car, how does Shriram General Insurance determine the appropriate compensation, considering depreciation?

Shriram General Insurance determines the compensation for a total loss based on the Insured Declared Value (IDV) of the electric car, which considers its current market value, adjusted for depreciation as per industry guidelines.

Which is the most ideal car insurance for electric cars?

Consider the comprehensive car insurance policy since it covers own damage and third-party liabilities. It also has the option to include add-on covers to enhance the coverage.

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