India, Aug. 31 -- Electric vehicles in India are no longer just for early adopters or big city fleet operators. You can now see them in regular parking lots, in smaller cities, and with buyers who picked them because they're economical, not just for the environment.

Running costs are lower, service intervals are longer and fuel price volatility stops mattering. But the ownership maths only holds if the largest single component in the vehicle behaves as expected over time. That component is the battery, and it is reshaping how electric car insurance is priced and structured.

The component that changes everything

In a petrol car, no single part adds a big chunk to the car's total value. But in an electric vehicle, the traction battery al...