HDFC Ergo EV Insurance
An HDFC Ergo electric car insurance policy offers the essential protection to your EV against
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Benefits of HDFC Ergo Electric Car Insurance
Here are some benefits offered under the HDFC Ergo EV insurance policy:
- HDFC Ergo General Insurance Company has over 8200 garages across India that offer cashless settlement of claims.
- With HDFC Ergo's electric car insurance plans, you get overnight vehicle repair facilities across India, ensuring quick delivery of your EV.
- HDFC Ergo EV insurance allows you to customise your coverage through various add-on covers tailored to your requirements.
Types of HDFC Ergo EV Insurance Policy
HDFC Ergo General Insurance Company offers three types of electric car insurance policies. These include:
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Third Party EV Insurance
An HDFC Ergo third party EV policy offers coverage to a policyholder against third-party injury/death or property damages that may arise due to road accidents involving the insured electric car. The compensation in case of third party injury or death is unlimited and the amount is settled by MACT (Motor Accidents Claims Tribunal). On the other hand, the compensation for any damage to a third-party's property is limited to up to Rs. 7.5 Lakh.
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Own Damage EV Insurance
The standalone own-damage EV policy by HDFC Ergo covers damages to the insured electric car due to accidents, fire, theft, natural calamities, man-made acts, etc. You can purchase this policy cover with an existing third-party insurance for a broader coverage.
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Comprehensive EV Insurance
HDFC Ergo comprehensive EV insurance covers both own damages sustained by the insured electric car as well as third-party liabilities. You can extend the coverage of this policy by opting for add-on covers for an extra premium amount.
HDFC Ergo EV Insurance Premium Calculator
Third-party electric car insurance premiums, which are proposed by IRDAI, are based on the EV's battery capacity. Here's a table showing the premium prices for a third party EV policy:
| Battery Capacity |
Premium Rates |
| Not Exceeding 30 KW |
Rs. 1,780 (approx) |
| 30 KW to 65 KW |
Rs. 2,904 (approx) |
| Exceeding 65 KW |
Rs. 6,712 (approx) |
*Disclaimer: (These rates are fixed by IRDAI and are subject to change. Always refer to the IRDAI website for the latest premium prices.)
On the other hand, the premium for a comprehensive EV policy can be calculated through the car insurance premium calculator. Alternatively, you can use the following formula to calculate your HDFC Ergo electric car insurance premium for a comprehensive plan:
Comprehensive EV Insurance Premium = Own Damage Premium - (No claim bonus + discounts) + (Third Party Premium)
HDFC Ergo Electric Car Insurance Add-Ons
An HDFC Ergo comprehensive EV insurance policy offers the following add-on covers:
Zero Depreciation Cover
The Zero Depreciation cover in HDFC Ergo electric car insurance offers financial protection by covering the depreciation amount deducted from the value of the replaced or repaired car parts in case of a own damage claim. It offers 100% coverage for both the EV battery as well as charging equipment.
You can avail the benefits of this valuable add-on only if you get your EV repaired at the insurer’s authorised network garage. Note that the number of claims under the zero dep add-on is limited to 2 during the policy tenure.
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Emergency Roadside Assistance (RSA)
With the RSA in car insurance add-on, you get emergency assistance in case of a car breakdown on the road. Services include minor repairs, flat tyres, towing, spare keys, etc.
Invoice Price Cover
The Invoice Price or Return to Invoice (RTI) cover helps a policyholder recover the original invoice value of the insured EV in case of a total loss or theft, including registration fees & road tax.
Consumables Cover
The Consumables cover pays for the cost of consumables, such as screws, nuts & bolts, grease, etc., which need to be repaired or replaced after an accident involving the insured EV.
Downtime Protection
Under the downtime protection add-on, HDFC Ergo covers your expenses on travelling by cabs for daily & routine purposes while your EV is being repaired, ensuring uninterrupted journeys.
Key & Lock Replacement Cover
The Key Replacement cover covers the cost of replacing the insured EV's lockset and keys if they are lost or stolen or damaged.
It also includes the labour cost involved with key or lockset replacement.
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View more Add-ons
How to Buy/Renew HDFC Ergo EV Insurance?
Here are the simple steps to buy or renew electric car insurance by HDFC Ergo General Insurance Company:
- Go to Policybazaar.com and click the 'Car Insurance' tab.
- Input your electric car number, or choose 'Brand New Car.'
- Provide your EV details like make & model, variant, RTO, etc., along with contact information.
- Select the expiry date of your existing car insurance and declare if you previously made a claim.
- Now, from the list of various policies, select the HDFC Ergo EV policy.
- Select add-ons if required for an additional premium.
- Securely pay the premium via debit/credit cards, UPI, or net banking.
- After the payment is successful, you will receive your HDFC Ergo car insurance policy for your EV on your email address.
How to File a Claim Under HDFC Ergo EV Insurance?
Follow these steps to raise your HDFC Ergo electric car insurance claim:
1
Report the Incident
Intimate the HDFC Ergo General Insurance Company about the incident.
2
Claim Registration
Raise a claim request to receive a claim intimation number.
3
Vehicle Inspection
Once your claim is registered, a surveyor will be assigned by your insurer for vehicle inspection within 48 hours.
4
Document Submission
Submit the asked documents like the claim form, your ID & address proofs, etc. to the surveyor.
5
Claim Settlement
After successful verification of documents, your insurer will settle the claim with the garage. If you get your EV repaired in a non-network garage, the insurer will reimburse the amount that you paid for repairs.
Documents Required to Raise HDFC Ergo EV Insurance Claim
Keep the following documents handy while filing your HDFC Ergo electric car insurance claim:
- Completely filled & signed claim form
- Your Electric car insurance policy
- Claim intimation number
- Copies of your EV's registration certificate & driving licence
- No trace report in case of theft of the EV
- Copy of the Police FIR
- Repair bills
- Original keys of the EV
- Duly signed RTO transfer papers (if applicable)
