Electric vehicle insurance claims cost 14% more than ICE cars, report finds
- Electric vehicle insurance claims are now 14% more expensive on average than those for internal combustion engine cars.
- The average claim severity for EVs stands at ₹41,543, compared to ₹36,185 for ICE vehicles.
- Around 80% of EV owners are choosing at least two key insurance add-ons, indicating heightened awareness of repair costs.
- Paras Pasricha from Policybazaar noted that battery protection cover adoption among EV owners surged from 51% to 70%.
Source: fortuneindia.com
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