KOBA Insurance has introduced Australia’s first dedicated electric vehicles (EVs) insurance policy.
The comprehensive policy is initially available to Tesla owners only, however, the insurer said in a press release, “Access and features for other EV owners will roll out in the near future.”
The policy provides comprehensive coverage for EV owners, including cover for charging equipment, a lifetime repair guarantee through EV and Tesla-certified network repairers, and an EV hire in cases of theft or not-at-fault accidents.
KOBA’s insurance solution syncs directly to the car’s onboard computer, the insurer said, which allows the company to provide vehicle-specific insights through its smart app, including estimated battery range, trip-tricking, and tyre pressure monitoring.
This also allows the insurer to offer a pay-as-you-drive model, with discounts for customers who drive fewer kilometres and who maintain a safe driving score upon renewal, KOBA said.
Andrew Wong, Founder of KOBA, commented, “An EV-specific insurance product has been a long time coming and we’re pleasantly surprised by how quickly, even with one brand, it’s taking off,” adding the company will be soon support other EV brands.
KOBA also announced that additional features, including monthly EV usage reports and enhanced battery monitoring, would soon be launched.
“Many EV owners use multiple apps to access this, as well as their insurance, so we’re excited to bring it all in one place to provide ongoing value to our customers,” Wong said.
