Is body insurance different for petrol and electric cars?
Many people before buying a car always ask questions about physical insurance and body insurance for each type of car.
According to the regulations of insurance companies, depending on the value of each type of vehicle and different physical insurance packages according to the needs of customers, the amount to be paid when purchasing insurance is also different.
Vehicle physical insurance includes insurance for the body and some other parts such as the motor, vehicle fire, water hammer, pure electric vehicle battery... Depending on the number of parts on the vehicle insured, the conditions for insurance payment or exemption, the premium is different.
Comparing the purchase of insurance for gasoline cars and electric cars, experts say that, compared to gasoline cars, electric cars do not have internal combustion engines, so there is no need to buy additional insurance for water hammer, but instead, there is insurance for electric car batteries. Therefore, the insurance premiums between gasoline cars and electric cars are not too different.
To meet the needs of consumers, insurance product providers have now provided insurance services for electric vehicle batteries to have more attractive insurance packages than before. The reason is that electric vehicle batteries are quite expensive and receive special attention from consumers.
Accordingly, the electric car battery has the highest proportion in the value of the car, can account for up to 50% of the car value but is placed in the most vulnerable position, which is on the floor of the car, easily scraped under the chassis when going on bad roads or flooded. Meanwhile, the manufacturer only warrants the battery in case of damage due to technical errors, not for damage due to external factors.
Therefore, some insurance companies have sold car battery insurance packages up to 150 million VND, the insurer accepts insurance in case of collision only of the battery and pays for the travel to check and repair the battery. The insurance premium is from 6 million VND/year, including the body and battery.
Insurance companies also said that the condition for insurance is that the battery must be damaged at the same time as other parts of the vehicle to exclude cases of self-damage of the battery (under the manufacturer's warranty). Therefore, insurance companies only accept insurance for electric vehicle batteries together with vehicle body insurance, not for batteries alone.
“The battery is an inseparable part of the electric vehicle, the most important part of this vehicle, so if the customer arbitrarily removes the battery from the vehicle, brings it home or stores it somewhere, causing the battery to be damaged, they will not receive insurance compensation.”insurance companies explain.
