Comprehensive Insurance for EVs also include:
Own Damage
Protects the Insured against financial losses due to expensive repairs of EVs, caused by accidents
Theft
Compensates the Insured against theft of his or her EV, including car-napping
Third Party Liabilities
Liabilities against due to accidents causing bodily injury or property damage, in case you are at fault
Accident Coverage for your Passengers
Personal accident coverage for your passengers riding your EV, including reimbursement for medical expenses
Acts of Nature
Normally an optional cover, Acts of Nature (AON) protects the Insured against losses due to for damages to the EV, caused by Typhoon, Flood, Earthquake and other natural disasters
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Is comprehensive insurance for EVs more expensive?
Two years ago, the cost of insuring an electric vehicle is a lot more expensive than it is today. As the insurance industry learn about EVs, protection is enhanced and premiums are reduced.
While insuring a traditional Internal Combustion Engine (ICE) is still cheaper, the cost in insuring an EV has significantly reduced this 2026.
The relatively higher rates for EVs are essentially due to potentially more expensive cost to repair an EV, in addition to having a higher purchase price.
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PRO TIP: Some insurance companies may offer really cheap premiums, but look-out for their deductibles for claims related to the vehicle's high-voltage battery.