Browsing: Electric Vehicle Insurance

Pioneer Insurance’s EV One insurance is now available to BYD customers through a partnership with BYD La Union, providing comprehensive coverage for electric vehicles.

The growing adoption of electric vehicles (EVs) in India is transforming the automotive landscape and creating new opportunities for the insurance sector. This article explores the evolving EV market, the challenges and opportunities it presents for insurers, and the need for specialized insurance products.

The global hybrid and electric vehicle insurance market is projected to grow at a CAGR of 16.88% by 2030, driven by increasing adoption of eco-friendly vehicles and demand for specialized insurance products.

A new report from HTF Market Intelligence projects significant growth for the electric vehicle (EV) insurance market, estimating a rise from $1.5 billion in 2024 to an unspecified amount by 2032, with a compound annual growth rate (CAGR) of 32% from 2024 to 2032. The study highlights key market segments and regional analysis.