Allianz General Insurance Company Malaysia Berhad (Allianz General) has announced its latest insurance product, Allianz EV Shield, which is the firm’s insurance coverage for electric vehicles under the private car comprehensive policy that offers coverage for on-the-go vehicle charging; an industry first, according to Allianz.
Allianz EV Shield is not a stand-alone product. Instead, it is an additional set of coverage that is provided to EV owners who insured their vehicles under the Allianz Private Car (Comprehensive) Individual policy and it is available at no extra charge.
The newly introduced insurance package offers EV owners coverage on various touchpoints involved in recharging an electric vehicle, including coverage of up to RM15,000 for losses or damages due to fire, theft and natural causes to wall boxes and RM2,000 for losses due to fire, theft and accidental causes to portable charging cables.
In the event of a mishap when using a public EV charger, compassionate cover of up to RM5,000 is afforded to the customer for the cost of repairs or medical expenses, should the vehicle be damaged or the insured party suffers bodily injuries.
The EV Shield also has a personal liability coverage of up to RM50,000 if there is death or bodily injury to a third party from using the home wall charger to charge your EV in your residence. It also covers damages to third-party property as well.
Coverage offered by Allianz EV Shield also provides for on-the-spot vehicle charging, if the insured party’s electric vehicle ends up stranded with insufficient battery charge. This service will be provided by Allianz EV Rangers through a pilot service to offer recharging to a sufficient state of charge to reach the nearest charging facility.
“With our latest product, we have identified common touchpoints of mishap and have designed solutions holistically. For example, If you are out of battery on the way to catch a flight, Allianz EV Rangers will zip to you, charge your EV battery enough and set you on your way,” said Allianz Malaysia CEO Sean Wang in a statement.
“With EV Shield, our customers will be entitled to the same premium experience they have come to love. In the unfortunate event of an accident, leave it to our Road Rangers to take over. Our customers will not be forced to endure intimidation by touts who insist on bringing their vehicles to questionable workshops. We work hard to ensure that all the tediousness ends with the accident or breakdown,” Wang said.
