Nice Jap has launched a brand new standalone electrical automobile (EV) insurance coverage plan, GREAT EV Shield, to help Singapore’s transition to an EV-only future.
The plan presents a spread of advantages particularly designed for EV house owners together with outpatient medical claims on account of electrical shock from an EV charging station as much as S$1,000.
On high of that, EV house owners will obtain house contents insurance coverage for harm brought on by fireplace from a personal EV charging station at landed properties of as much as S$20,000 in addition to unintended harm to the proprietor’s personal EV charging station as much as S$5,000.
The launch of GREAT EV Shield comes because the variety of EVs in Singapore is rising quickly. In 2022, the variety of EVs on the street jumped by 122% in comparison with the earlier 12 months.
Below the Singapore Inexperienced Plan 2030, the Land and Transport Authority has rolled out a complete EV Roadmap to drive adoption which features a community of 60,000 charging factors across the island by then.
Nice Jap continues to supply complete insurance coverage for each inside combustion engine (ICE) autos and hybrids via its ‘Drive and Save Plus’ plan. The plan supplies private accident protection of as much as S$120,000.
Jimmy Tong
Jimmy Tong, Managing Director of Basic and Group Insurance coverage at Nice Jap mentioned,
“The launch of our standalone EV insurance coverage plan is well timed and necessary. The adoption of EVs will solely proceed to extend with the push for Singapore to affect all autos and construct a sustainable land transport system.
This implies we have to guarantee everyone seems to be well-covered by a safety plan tailor-made for distinctive incidents to EVs, which aren’t adequately addressed by standard inside combustion engine automobile insurance policies. GREAT EV Shield will give a peace of thoughts for our prospects, by making use of the identical rigour as our safety for drivers of non-electric autos with new protection for potential EV-only points.”
