Think electric vehicles (EVs) are more expensive to repair after a flood? According to the General Insurance Association of Malaysia (PIAM), data shows that EVs recorded significantly lower average flood-related losses compared to conventional petrol and diesel vehicles.
Based on figures shared by PIAM, EVs recorded an average flood-related loss of RM8,404, compared to RM34,000 for internal combustion engine (ICE) vehicles. That’s roughly four times higher for petrol and diesel vehicles.
PIAM CEO Chua Kim Soon attributed the difference partly to EVs’ protected electrical systems and high-voltage isolation technology. Other contributing factors include lower flood exposure and higher adoption of flood insurance among EV owners, who are predominantly based in urban areas.
While Chua said EVs are less prone to flood damage, it is with pointing out that this doesn’t necessarily mean EVs are flood-proof.
Half of EVs have flood coverage, compared to just 13% of ICE vehicles
Another interesting finding from PIAM is the significant gap in flood insurance coverage between EV and ICE owners in Malaysia.
According to the association, 50% of EV users have additional flood insurance coverage, compared to just 13% of ICE vehicles. In other words, nearly nine out of ten petrol and diesel vehicles do not have additional flood protection.
In case you didn’t know, the standard comprehensive motor insurance policy in Malaysia doesn’t automatically cover flood damage. Motorists need to add special perils coverage to their existing policy to protect their vehicles against flood-related losses.
This is particularly important during the monsoon season, as flood damage can result in expensive repairs. Without the additional coverage, vehicle owners may have to bear the full repair costs themselves.
Of course, this doesn’t mean you should attempt to drive your EV through a flooded road. Whether it’s an EV or a petrol-powered car, flood damage can still be costly. More importantly, attempting to cross a badly flooded road could put your life at risk.
[ SOURCE, VIA, IMAGE SOURCE ]
