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EV insurance demand surges 16x in just 3 years
The Sunday Guardian
|March 23, 2025
The demand for Electric vehicles (EVs) insurance has witnessed a significant upswing, with adoption growing a staggering 16 times in just three years, according to the internal data of Policybazaar.
The private sector insurer said in a report that the share of insurance policies for EV cars, which stood at a mere 0.50 per cent in FY23, has expanded to 14 per cent in March 2025, standing at 8.2 per cent.
Observing the evolving trends, Amit Chhabra, CBO of General Insurance at Policybazaar said, "The accelerating adoption of EV insurance signals India's shift toward sustainable mobility. With EV insurance share growing nearly 16-fold in just three years, consumers are not only adopting electric vehicles but also recognizing the need for tailored protection."
Denne historien er fra March 23, 2025-utgaven av The Sunday Guardian.
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FLERE HISTORIER FRA The Sunday Guardian
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