New Delhi, Oct. 3 -- Electric vehicles (EVs) can offer lower running costs than petrol and diesel cars, but their specialised technology can have a bearing on the cost of motor insurance.

Unlike conventional cars, EVs rely on expensive components such as high-voltage battery packs, electric motors and sophisticated electronic systems. Repairs involving these components may require trained technicians, specialised tools and dedicated facilities, potentially increasing the cost of a claim.

Insurers take such repair costs into account while assessing risk. However, the premium for an EV is not determined by its power source alone. Factors such as the vehicle's model and value, Insured Declared Value (IDV), registration location, coverage s...