Do New Energy Vehicles Need Insurance?
1 Answers
Purchasing insurance is necessary for new energy vehicles. Although there are fundamental differences between new energy vehicles and fuel-powered vehicles, they share similarities when it comes to buying auto insurance. The insurance model for new energy vehicles largely follows that of fuel-powered vehicles, consisting of compulsory traffic insurance and commercial insurance, with the system automatically generating discounts upon renewal. Policies vary by region, so insurance companies uniformly base the coverage on the manufacturer's suggested retail price (MSRP), which is the pre-subsidy price. Insurance companies will offer certain discounts based on the vehicle model and regional specifics, but these discounts are generally low. Below is relevant information: Claims: Claims for new energy vehicles are handled similarly to those for conventional vehicles, based on the market price of the vehicle. The payout corresponds to the insured amount. For minor scratches, the compensation amount is comparable to that for fuel-powered vehicles. In the event of a major accident, the insurance company will compensate based on the amount listed on the purchase invoice. Recommendations: Owners should purchase vehicle damage insurance and third-party liability insurance. New energy vehicle owners do not need to buy water damage insurance, as this coverage is also known as "engine special loss insurance," and new energy vehicles do not have engines. Purchasing it would be a waste of money.
