KOBA Insurance to launch electric vehicle cover
KOBA Insurance to launch electric vehicle cover | Insurance Business Australia
Insurance News
KOBA Insurance to launch electric vehicle cover
Company to participate in EV event
Insurance News
By
Roxanne Libatique
KOBA Insurance (KOBA) is set to introduce a new electric vehicle (EV) insurance product in March 2024, specifically designed for the expanding Australian EV market.
The product will initially be available to Tesla owners. It aims to address the unique needs of EV drivers by offering features such as the option to choose their repairer, EV car hire, charging equipment cover, and battery health checks.
Rising demand for electric vehicles
According to KOBA founder Andrew Wong, the emergence of the EV market in Australia presents an opportunity for tailored insurance solutions.
“EV is a fast-emerging market here in Australia, and with that comes an opportunity for a bespoke EV insurance product. As an insurtech with telematics at the heart, KOBA has been working closely with the EV community to build a product to meet the needs of EV drivers,” he said.
Electric vehicle event
KOBA will participate in the Everything Electric event in Sydney, providing a platform for EV enthusiasts to contribute to the development of its insurance products.
Further commenting on the new product, Wong said: “Most insurers offer coverage for EVs; however, their EV products tend to be the same as traditional comprehensive products, which don’t really leverage the benefits that an EV car offers, nor offer services unique to EV ownership. That’s where our product will differ. We’ve worked directly with the EV community to fill in the gaps and will continue to work together to evolve the EV insurance experience. KOBA is building an EV policy and service designed by EV drivers. And that’s what we’re most excited about.”
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