New Delhi, Aug. 1 -- Are you riding or driving an electric vehicle (EV)? Then, you must have an insurance policy that specifically covers the battery, as it accounts for nearly 50% of the vehicle's cost. Insurance for EVs is more expensive than for petrol- and diesel-powered vehicles. Most insurance policies do not cover batteries. The cover for batteries can be bought only as an 'add-on' in most policies.

The real protection for your EV lies in specific covers like 'EV Shield', which is offered as an 'add-on' to cover batteries. An 'EV Shield' is essential as it specifically covers the battery, electric panel, and charging equipment, including wall chargers and charging cables, according to experts who track motor insurance. An EV shiel...