BEIJING, Aug. 6 (Xinhua) -- The particular terms of commercial insurance for new energy vehicle(NEV) is expected to come out soon as the Insurance Association of China started to solicit public opinions on the draft particular terms on Wednesday, the Xinhua-run Shanghai Securities News reported.
As of the end of the first half of this year, the number of new energy vehicles in China exceeded 6.03 million, which is expected to reach 64.2 million by 2030. Different from traditional cars, the core technologies and components of new energy vehicles, including batteries and energy storage systems, motors and drive systems, and other control systems, are not covered by the insurance under the traditional auto insurance policies and has broght extensive disputes in the settlement of claims.
The particular terms to be issued this time not only incorporate all the core technologies and components of new energy vehicles into the insurance liability, but also protect all other equipment at the factory, as well as the entire process of vehicle driving, parking, charging and operation, providing comprehensive protection for new energy vehicle owners.
In addition, the terms also include the "fire and burning" liability in the accident liability.
The insurance rate for new energy vehicles are also being drafted. The price and risk rate of new energy vehicles are higher than traditional vehicles, and the average loss of vehicles is also higher. Therefore, under the same degree of protection, the rate of insurance for new energy vehicles would be higher, said Wang Xiangnan, deputy director of the Research Center for Insurance&Economic Development, Chinese Academy of Social Sciences.
(Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)
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