Pioneer Insurance’s EV One, a specialized electric vehicle insurance, is now available directly to BYD customers through the Pioneer-BYD La Union partnership.

Pioneer Insurance’s Motor Department Head, Iluminado Garcia III, said the collaboration aims to provide BYD customers easy access to Pioneer’s EV One insurance.

“EV (Electric Vehicle) owners have unique needs that require tailored insurance solutions. With Pioneer EV One, more EV drivers can hit the road with confidence and fully enjoy the benefits of going electric,” Garcia said.

Present at the contract signing with BYD La Union were Garcia, Pioneer Insurance Assistant Manager for Motor Accounts Carl Zeus Corral, and representatives from SEA Electric Philippines, a distributor of BYD in La Union — CEO Glenn Yu and Vice President for Energy Transition & Infrastructure Paolo Bugayong.

Garcia explained that the total cost of ownership is lower due to stable energy prices and up to 50 percent lower maintenance costs compared to traditional vehicles.

EV owners also enjoy number-coding exemptions, registration discounts, and flexible bank financing options.

“Aside from facing the same risks as regular car owners, EV owners grapple with unique challenges. That’s why having reliable and responsive insurance coverage is more important than ever,” he said.

Pioneer EV One

Pioneer Insurance launched Pioneer EV One as a comprehensive insurance solution designed to address the specific concerns of the growing EV market in the Philippines.

The policy covers a wide range of EV types, including hybrids, plug-in hybrids, and battery electric vehicles. Traction batteries are also covered with no hidden deductibles.

Garcia shared the key benefits of this innovative insurance product, including the Range Anxiety Cover, which provides towing services to the nearest charging station or back to the point of origin if the vehicle runs out of power. The policy also covers the Advanced Driving Assistance System (ADAS), which secures EV technologies such as adaptive cruise control, lane-keeping assistance, and emergency braking.

Additionally, the policy comes with the Charging Equipment Cover, which safeguards private EV charging accessories against loss or damage, and Enhanced Battery Coverage, covering repair or replacement costs for battery-related issues.

In the event of vehicle downtime due to repairs, the Loss of Use benefit will provide reimbursement for transportation expenses of up to P500 per day for 15 days.

“In addition to these specialized benefits, Pioneer EV One includes standard comprehensive motor policy coverages, such as own damage, third-party liability, acts of nature, and theft,” Garcia said.

“With its extensive coverage, Pioneer EV One not only empowers EV owners to hit the road in their EVs with peace of mind, but it also makes electric adoption easier, more convenient, and more practical,” Garcia added.

How to avail EV One

As a key innovator in the insurance industry, Pioneer recognizes the growing demand for EVs and the unique coverage they require.

“By offering EV One at a BYD dealership, Pioneer not only enhances the customer experience for BYD owners but also reinforces its leadership in providing forward-thinking insurance solutions,” Garcia shared.

“With the shift toward sustainable transportation, Pioneer is well-positioned to support EV owners with comprehensive and convenient insurance options,” he concluded.