AXA Gulf launches insurance cover for UAE electric vehicles

Third-party property damage coverage increased to $953,000 for Tesla Club Scheme


AXA Insurance Gulf has launched a first-of-its-kind insurance solution for electric vehicles in the GCC region under its Tesla Club Scheme.

A statement from the international insurance heavyweight said that the announcement of the scheme came during the first Emirates Electric Vehicle Road Trip (EVRT), a four-day event and part of the Global Electric Vehicle Road Trip, where AXA Gulf is participating as the official insurance sponsor and is providing commercial coverage for the Tesla Model X and Tesla Model S as they journey over 700km with eight other electric vehicles, unveiling charging stations in Ras Al Khaimah, Fujairah and Abu Dhabi.

The new insurance plan will include own damage cover, third party bodily injuries, third party property damage which is increased to AED3.5 million ($953,000), natural perils cover, Oman extension cover with all comprehensive policies, free roadside assistance and more with each policy, Axa said.

“The aim of Emirates EVRT is to drive the adoption of electric vehicles in the region and accelerate the transition towards a sustainable low-carbon future,” said John O’Brien, country manager of AXA Gulf in the UAE. “The UAE is very advanced when it comes to insurance penetration, especially with motor insurance being mandatory in this part of the world, and we, at AXA Gulf, are proud to support and facilitate electric vehicle owners by providing the first insurance solution of its kind in the region and further propel the green mobility movement of the country from conception to adoption.”

Axa’s statement said that Dubai is the first city in the region to express its desire to achieve green mobility, having set targets to reduce carbon emissions by 16% by 2021. The aim is to have a target of 20% eco-friendly vehicles in place of all new cars purchased between 2016 and 2030. Furthermore, Dubai Electricity and Water Authority (DEWA) also recently announced that it installed 100 electric chargers across the emirate in key locations such as Dubai Airports, Dubai Municipality, RTA, shopping malls, petrol stations, hotels and various parking areas in an attempt to promote the use of electric cars.

“Electric vehicles are still emerging in the Middle East and we believe in all the benefits that they bring with regards to our environment,” added O’Brien. “We have a commitment towards all the communities we operate in and one of our key pillars in our global strategy is to support sustainability, which is also part of the UAE 2021 vision.”


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