Mumbai: Insurance claims from damage to electric vehicles two-wheelers are turning out to be up to 20% higher in value than conventional vehicles, while they are 50% higher for four-wheelers. Also, the frequency of claims is higher in electric vehicles compared to internal combustion engines.
The higher value of claims is because of the need to replace an entire assembly rather than repair it due to the non-availability of child parts. Also, there is a higher usage of plastic and fibre to keep the vehicle weight low which increases the damage.
“The frequency of claims largely because many first-time users are not familiar with the high acceleration which leads to minor accidents,” said T A Ramalingam, Chief Technical Officer, Bajaj Allianz General Insurance Company (BAGIC).
