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Check out why electric car insurance is expensive?

electric car insurance is expensive

India is a leading country that is well known for responsive markets in the terms of cars. Many people are aware of the fact that in the year 1993, the very first electric car was launched in our country. It was known by the name “Love Bird”. The person who has launched this new magnetic car was named “Eddy Electric”.

There are concerts like the Auto Expo which run annually in which this power-driven car was introduced in the market. Also, it is been noticed that the government of India has given a green signal for selling the machine to run on the roads. But there was the very fewer sale of these products. Because of which the company decided to stop the manufacturing of such vehicles. This electric car insurance is expensive or not will be followed in the below-mentioned points. Keep following for more information and updates on such vehicles.

The very first advantage of using such machines is completely environmentally friendly. Also, it is been seen that these products are cost-effective for humans as well as for nature. The companies have utilized the advanced technologies in such motors which in return causes the high insurance plan. These motors are light in weight and hence if there is any damage observed. Then it will cost you with heavy payment of capital.

Why the premium rates are on extent price?

The vehicles are already expensive

The first common factor of having higher premium rates is because the motors are already expensive which is not feasibly affordable by everyone. People who are suffering from the burden of fuel as of financial crisis. The companies have thought to introduce such technology in which they can easily charge their vehicle to roam from one destination to another without any problem. There will be zero pollution rate if such machines are to be used in the market. These have a great benefit for securing our pollution rate.

There is an expiry date for batteries used in cars

You must be aware that these products are integrated with heavy batteries which are available with expiry dates. These are much expensive in case of replacement with a new battery. The manufacturers have made these batteries with the help of Lithium-ion which makes it costly.

Much maintenance is required

The parts which are used in such motors are not easily available. Therefore, maintaining is known to be a tough task for such activities. The person who is going to handle such vehicles should be highly skilled and professional. They should have proper knowledge so that to repair any of the damaged parts in a small span of time.

If we talk about the electric car insurance is expensive or diesel machines then they are almost the same. If you want to know the basic difference between the both then it depends upon the IDV. The term IDV consists of the model and approximate capital which is currently available in the market. Thus, one should discuss the complete details with the insurer.

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