Income Insurance launches EV-focused motor insurance with industry-first features

Addressing range anxiety with emergency mobile rescue

To combat "range anxiety," the fear of an EV running out of charge mid-journey, eDrivo includes a 24/7 emergency mobile rescue service. Partnering with Power Up Tech (P.UP), Singapore's first mobile EV charging service, the policy ensures stranded drivers receive DC fast charging at the scene. This 30-minute charging session restores up to 20% battery capacity, providing enough power to reach the nearest charging station.

Comprehensive EV protection

In addition to emergency rescue, eDrivo offers robust coverage for EV-specific risks, including:

• Cyber hacking coverage: Protects against damage caused by malicious cyber acts.

• Private charging station coverage: Up to $5,000 for damage to home charging setups.

• Unlimited battery replacement: Coverage for battery replacement following accidents.

• Voluntary battery replacement excess: An optional benefit that offers a 5% premium discount upfront, with a $3,000 excess for battery replacement after an accident.

Supporting Singapore’s green transition

This launch aligns with Singapore’s Green Plan and the government’s goal to phase out internal combustion engine (ICE) vehicles by 2040. Income Insurance aims to complement these efforts by fostering a supportive EV ecosystem, encouraging greater adoption through tailored insurance solutions.

Customer-centric approach

Cecilia Siah, Head of Motor Business at Income Insurance, emphasized their commitment to addressing EV owners' unique concerns. “Our research revealed gaps in consumer awareness of EV risks and insurance coverage. eDrivo bridges these gaps, ensuring motorists are well-protected as Singapore transitions to sustainable transportation.”

eDrivo policyholders also gain access to Income Orange Force, a dedicated accident response team trained to handle EV-related incidents safely. This initiative underscores Income Insurance’s dedication to supporting EV drivers on Singapore’s journey toward a greener future.