All-new GREAT EV Protect claims first mover spot in market

Great Eastern levelled up its game with the introduction of GREAT EV Protect, which seeks to put the minds of electric vehicle (EV) owners at ease. The new standalone insurance is first-in-market to cover incidents arising from electric shock, home contents damaged by fire, and accidental damages to private charging stations. 

The launch of the protection plan, announced on 6 September, could not have come more opportunely as Singapore approaches an inflection point in EV adoption. In 2022 alone, electricity-powered automobiles on local roads saw a 122% jump from 2021. 

The accelerated uptake of EVs way ahead of Singapore's mandate for all newly registered vehicles to run on cleaner energy by 2030 bodes well, but also mounts pressure on the need to ensure the necessary systems are in place. Conventional internal combustion engine vehicle policies - functionally not designed to address uniquely EV issues - are fast reaching their expiration date. The GREAT EV Protect will support our transition to an EV-only nation by completing the puzzle currently pieced with growing infrastructure and buyer impetus. 

EV owners keen to hop aboard the insurance plan may find out more about its coverage here.