Pioneer Insurance has partnered with BYD La Union to offer its specialized electric vehicle insurance, EV One, directly to BYD customers. According to Iluminado Garcia III, Pioneer Insurance’s Motor Department Head, the collaboration aims to provide BYD customers with easy access to EV One insurance, addressing the unique needs of electric vehicle (EV) owners.
“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,” Garcia said during the contract signing ceremony, which was attended by representatives from both companies, including Pioneer Insurance Assistant Manager for Motor Accounts Carl Zeus Corral, and Glenn Yu and Paolo Bugayong from SEA Electric Philippines, a distributor of BYD in La Union.
Garcia highlighted the benefits of EV ownership, including lower total cost of ownership due to stable energy prices and up to 50 percent lower maintenance costs compared to traditional vehicles. EV owners also enjoy number-coding exemptions, registration discounts, and flexible bank financing options. However, they face unique challenges that require reliable and responsive insurance coverage.
Pioneer EV One: Comprehensive Insurance for EVs
Pioneer EV One is a comprehensive insurance solution designed to address the specific concerns of the growing EV market in the Philippines. The policy covers various EV types, including hybrids, plug-in hybrids, and battery electric vehicles, with traction batteries covered and no hidden deductibles.
Key benefits of Pioneer EV One include:
- 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) Cover: Coverage for EV technologies such as adaptive cruise control, lane-keeping assistance, and emergency braking.
- Charging Equipment Cover: Safeguards private EV charging accessories against loss or damage.
- Enhanced Battery Coverage: Covers 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, Pioneer EV One includes standard comprehensive motor policy coverages such as own damage, third-party liability, acts of nature, and theft. Garcia emphasized that the extensive coverage empowers EV owners to drive with peace of mind, making electric adoption easier and more practical.
Availing EV One
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. As the demand for EVs grows, Pioneer is well-positioned to support EV owners with comprehensive and convenient insurance options.
