Pioneer Insurance has partnered with BYD La Union to offer a specialized electric vehicle insurance called EV One directly to BYD customers. The partnership aims to provide easy access to Pioneer Insurance’s EV One, which is designed to address the unique needs of electric vehicle (EV) owners.
Key Benefits of EV One
Pioneer Insurance Motor Department Head Iluminado Garcia III explained that EV owners face unique challenges that require tailored insurance solutions. “EV owners have unique needs that require tailored insurance solutions. With Pioneer EV One, more EV drivers can hit the road with confidence and fully enjoy the benefits of going electric,” Mr. Garcia said.
EV One provides comprehensive coverage for various types of EVs, including hybrids, plug-in hybrids, and battery electric vehicles. The policy covers traction batteries with no hidden deductibles and includes benefits such as:
- Range Anxiety Cover: towing services to the nearest charging station or back to the point of origin if the vehicle runs out of power
- Advanced Driving Assistance System (ADAS): coverage for EV technologies like adaptive cruise control, lane-keeping assistance, and emergency braking
- Charging Equipment Cover: protection for private EV charging accessories against loss or damage
- Enhanced Battery Coverage: covering repair or replacement costs for battery-related issues
- Loss of Use benefit: reimbursement for transportation expenses of up to P500 per day for 15 days in case of vehicle downtime due to repairs
In addition to these specialized benefits, EV One includes standard comprehensive motor policy coverages, such as own damage, third-party liability, acts of nature, and theft.
Advantages of Electric Vehicles
Mr. Garcia highlighted that EVs have a lower total cost of ownership due to stable energy prices and up to 50% lower maintenance costs compared to traditional vehicles. EV owners also enjoy benefits like number-coding exemptions, registration discounts, and flexible bank financing options.
Availability of EV One
To avail of Pioneer EV One, interested customers can inquire through BYD La Union or Pioneer Insurance’s website at https://pioneer.com.ph/motor. The partnership between Pioneer Insurance and BYD La Union enhances the customer experience for BYD owners and reinforces Pioneer’s leadership in providing forward-thinking insurance solutions.
