Zurich Kotak General Insurance has introduced EV Protect, a new add-on cover under its car insurance product Car Secure, designed specifically for electric vehicles (EVs), including Tesla. The add-on aims to address key insurance concerns related to EV components such as batteries, motors, and chargers.
With electric mobility becoming increasingly common in India, the EV Protect cover includes both third-party protection as mandated by the Motor Vehicles Act, 1988, and optional comprehensive coverage. It extends to the Battery Management System (BMS), electric motor, and charger, offering protection against damage due to power surges, short circuits, or water exposure. It also includes coverage for damage to charging equipment caused by theft or rodent activity. Additionally, the policy includes a personal accident cover for the vehicle owner.
As Tesla begins operations in India, Zurich Kotak aims to support EV adoption with insurance options designed around the specific needs of electric vehicle users.
Alok Agarwal, Managing Director and CEO of Zurich Kotak General Insurance, stated that EV Protect reflects the changing market dynamics, with more consumers opting for sustainable mobility. He added that the product is designed to offer relevant protection as electric mobility grows in India.
EV Protect is now available through the company’s website www.zurichkotak.com, and is open to all EV owners, including Tesla customers.
Zurich Kotak General Insurance Company (India) Limited is a joint venture between Zurich Insurance Company Ltd. and Kotak Mahindra Bank Limited. After Zurich’s acquisition of a 70% stake in August 2024, the company was renamed from Kotak Mahindra General Insurance. Established in 2015, the company provides a range of non-life insurance solutions including motor, health, home, and commercial products, leveraging digital infrastructure to offer customized services.