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More insurance plans for EVs, but charging-specific coverage remains rare

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Derryn Wong

Derryn Wong

Published Tue, Sep 12, 2023 · 05:00 AM
    • Two insurers now offer coverage for electric vehicle charging-related injuries and damage, though industry experts say complexities surrounding EV charging still exist.
    • Two insurers now offer coverage for electric vehicle charging-related injuries and damage, though industry experts say complexities surrounding EV charging still exist. PHOTO: BLOOMBERG

    MORE insurers in Singapore are providing plans for electric vehicles (EVs), but specific policies that cover charging risks remain rare.

    Checks by The Business Times (BT) found that out of 15 car insurers in Singapore, nine offer car insurance for EVs – but only one, Singlife, offers additional coverage for EV-specific risks.

    Separately, on Sep 6, OCBC ’s insurance arm Great Eastern introduced an EV-specific insurance plan: Great EV Protect. It is said to be Singapore’s first policy to cover medical claims and damage arising from a privately owned EV charger.

    Electric vehiclesInsuranceSpotlight

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