Outlook Money
Electric Vehicle (EV) and Hybrid Electric Vehicle (HEV) owners in India can avail of an insurance product specifically designed for their batteries.
Battery warranties ensure that if the battery fails prematurely or doesn't perform as expected, replacement or repair can be done at no additional cost
Battery insurance protects against various risks, such as theft, damage, or unexpected loss of capacity. It provides financial protection to EV owners
The battery product add-on covers a traction battery, which powers the vehicle’s movement and differs from the starting/ignition batteries.
Insurance coverage can vary for EVs and HEVs, this may differ based on factors, such as the vehicle’s make and model, the battery capacity, and the specific insurance policy
It's important to claim the battery-related issue but contacting the insurance provider and providing information like policy number
If the battery charging or battery health is not done or maintained as per original equipment guidelines, or any repair has been carried out from any unauthorised place without prior approval, it could lead to a claim rejection
Compiled by Syed Muskan