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In the UAE, the demand for electric vehicles (EVs) is steadily increasing. In addition to being more eco-friendly than vehicles that use petrol or diesel, they may also cost less to operate over time. 

As the UAE Electric vehicles sector is still developing, potential buyers might be concerned about where to acquire proper Electric Vehicle Insurance.

The EV  insurance provides financial protection for your vehicle against liabilities such as accidental damage, fire, natural calamities, riots, theft of the insured vehicle, and third-party injuries or damages to their property. This is equivalent to the motor insurance coverage for cars operated by petrol and diesel. You can avoid the expenses by choosing the right insurance coverage for your electric car.

So here in this blog let’s find out why insurance coverage for electric vehicles.

Protect Yourself From Third-Party Liability

In any unfortunate circumstances where you injure a third person or damage their property, your insurance coverage will pay for these responsibilities.

Avoid Penalties As Required By Legislation

You will be protected from fines for not having the required Third-Party Liability Insurance because the Comprehensive plan covers it.

Avoid Excessive Repair Costs

As the Comprehensive Cover includes Own Damage coverage, it covers a significant portion of the repair costs in the event of accidents, fires, natural disasters, riots, and theft-related losses. This implies that in the case of policy damages, you will not be responsible for paying a high repair fee.

Get Personal Accident Insurance

You receive full financial compensation for unforeseen events like accidental death, physical injuries, or partial or whole impairments as a result of an accident with the legally required Personal Accident protection. Please be aware that this is purchased separately with the Comprehensive Plan or the Third-Party Insurance Plan.

Types of Insurance plans

Third-Party Insurance Coverage 

Electric car third-party insurance only protects third-party liability resulting from an accident. If you, the insured, are at fault, the insurance kicks in this situation.

Comprehensive Insurance Coverage

Electric cars with comprehensive insurance are protected against both personal and third-party losses. If you were at fault for the accident inquiry, third-party losses are covered. Collisions, incidents in which you are at fault, storm-related natural disasters, man-made disasters, fire, and theft are all covered.

Out of these two types of electric vehicle insurance packages that are offered, a third-party liability minimum policy is required for all vehicles. But, if you like, you can choose to upgrade and choose a comprehensive car insurance package.

What Does Insurance For Electric Vehicles Include?

• Third-party's losses or injuries

• Car owner suffers physical harm

• Accidental fire damage and damage from a natural disaster are both covered.

• Theft, rioting, vandalism, and other human tragedies are discussed.

• Depending on the insurance, battery damages can be covered.

• Engine cover

• No Claim Bonus Insurance

• Other Conventional car insurance coverage.

What are the Electric Car Insurance Exclusions?

• Intoxicated driving

• Unauthorized Driving

• Risky or careless driving

• Any other exclusions specified in the insurance policy's terms and conditions.

Insuring Electric Vehicles in the UAE

There are both online and offline options for buying insurance for electric vehicles.   Insurance brokers will guide you through the procedure from the branch offices. You can read the instructions and purchase them if you are buying online. Get in touch with Policyhouse.com insurance service providers if you require assistance, and they will help you.