Janardhan NNow imagine:
- A remote attack on your vehicle fleet affecting braking or steering systems.
- A ransomware hit on your charging network, shutting down operations overnight.
- Sensitive customer data leaked, leading to heavy regulatory fines and lawsuits.
Mitgata: Leading Cyber Insurance Service Provider
With Mitigata, cyber insurance isn’t just a checkbox for compliance – it’s part of a larger resilience strategy for your EV ecosystem. We understand the unique cyber risks your company faces and offer you the best cyber insurance policy at competitive rates. All thanks to our partnerships with leading insurer companies like HDFC ERGO, Bajaj Allianz, ICICI Lombard, Iffco Tokio and more.
Why do 800+ Companies Trust Mitigata?
Exclusive Access to Mitigata Console:
Beyond just an insurance policy, we give you visibility into your own risk surface. Our in-house Mitigata Console includes:- Attack Surface Monitoring: Spot vulnerabilities across charging stations, telematics APIs, and connected vehicle systems.
- Phishing Simulation & Training: Train your workforce against phishing attacks that could compromise charging network credentials.
- Brand & Dark Web Monitoring: Detect if stolen firmware keys, customer credentials, or company data are being traded on the dark web.
- Phishing Risk Detection: Identify malicious domains impersonating your brand before they target your customers.
- 24/7 Expert Support: Get instant access to experienced cyber specialists anytime you need them. No waiting in endless ticket queues.
- Transparent, Fair Pricing: What you see is what you pay. Our policies come with clear pricing and no hidden charges, so you can plan your costs with confidence.
- Comprehensive, End-to-End Coverage: Our policies are designed to protect you at every step – investigation, legal defence, business interruption, and reputation repair.
- Fast, Hassle-Free Claims: We make simple claims. Quick processing and minimal paperwork mean you spend less time chasing approvals and more time getting back to business.
Cyber Insurance for EV Companies Starting from ₹49,000/year*
Mitigata’s cyber insurance offers exclusive console access, 24/7 expert support, and full coverage for breaches or attacks, all available at best rates.
Common Security Concerns Faced by EV Companies
As EV companies blend automotive engineering with software and connected infrastructure, their risk surface expands dramatically. Here are the most critical cybersecurity threats EV companies face today:
- Vehicle Control Hacking
Cybercriminals can target a vehicle’s core systems, such as braking, steering, or acceleration, through remote attacks. Such incidents can lead to regulatory investigations and long-term brand damage.
- Data & Privacy Breaches
EV apps collect massive volumes of data: driver identities, real-time locations, charging patterns, and payment details. A breach could result in lawsuits, regulatory fines, and a loss of customer trust that’s hard to win back.
Looking to buy cyber insurance? Learn everything you need to know about Cyber Insurance claims and coverage
- Charging Infrastructure Vulnerabilities
Charging stations are a prime target. Attackers can disable charging points, steal customer payment information, or inject malicious code into vehicles. A coordinated attack could even disrupt parts of the power grid, creating operational chaos.
- Supply Chain Attacks
With components sourced globally—from microchips to battery cells—a single compromised supplier can disrupt production lines, delay deliveries, and cause significant financial losses.
- Intellectual Property Theft
Your intellectual properties are your competitive edge. These high-value assets are frequently targeted by competitors, hackers, or even state-sponsored actors seeking to leapfrog innovation.
- Firmware & Software Update Exploits
Over-the-air (OTA) updates are a cornerstone of EV functionality. If update pipelines are compromised, attackers can push malicious code to entire fleets, putting driver safety and corporate reputation at risk.
Check out our expertly curated cyber insurance cost guide and find out which factors affect its premium.
What does a cyber insurance policy cover?
First-Party Coverage
- Data Recovery and System Restoration
Cyber insurance for EV companies covers forensic investigations, data restoration, and system rebuilding in the event of cyber incidents. For example, when an EV manufacturer’s production systems were compromised, their policy covered $2.3 million in recovery and analysis costs.
- Business Interruption Coverage
EV company cyber liability insurance compensates for lost revenue during cyber-related downtime. If attackers shut down your charging network for 72 hours, this coverage handles lost fees and emergency IT costs.
- Ransom Payment Coverage
Ransomware attacks targeting EV companies often demand substantial payments to decrypt critical systems. Modern cyber insurance policies cover ransom payments when approved by insurers and law enforcement.
Third-Party Liability
- Customer Data Breach Liability
EV companies collect vast amounts of sensitive customer data, from personal information to detailed driving patterns and location histories. Hence, cyber insurance for EV companies protects against lawsuits filed by customers whose data was compromised. This includes legal defence costs, settlement payments, and damages awarded by courts.
Specific Add-Ons for EV Companies
Charging Infrastructure Protection Specialised coverage for EV charging networks protects against attacks on payment systems and billing manipulation.
Connected Vehicle Cyber Protection Covers incidents where attacks compromise vehicle software, autonomous driving features, or in-vehicle systems. Tesla’s 2021 recall of 285,000 vehicles due to software vulnerabilities demonstrates the potential costs this specialised coverage addresses.
Cyber insurance designed for EV companies building tomorrow
Mitigata connects you to top insurers, ensuring strong protection at best market rates with round-the-clock support and rapid claims processing.
What Cyber Insurance May Not Cover
Even the best policy has limits. Knowing these gaps helps EV companies avoid surprises when calculating their EV cyber insurance cost and EV cyber insurance premium:
Negligence or outdated systems: If your charging software runs on unpatched, old systems, an insurer may deny claims.
Pre-existing vulnerabilities: Issues discovered before the policy started, such as an already compromised IoT device in a vehicle, are usually not covered.
Certain contractual or supply-chain exclusions: If a third-party OEM partner fails on security and causes a breach, some insurers won’t cover the fallout unless you have specific add-ons.
Most Trending Blog from Mitigata
Confused between so many insurance providers? Check out these top cyber insurance companies and their comparison in this guide.
Conclusion
The reality is simple: as EV companies become smarter and more connected, hackers do too. A single breach can stop charging stations, compromise vehicle safety, and damage years of hard-earned trust.
This is why Mitigata is here. We don’t just sell insurance – we help EV companies stay protected with fair, transparent pricing, 24/7 expert support when things go wrong, and fast, hassle-free claims, so you can get back on track quickly.
Let’s make your EV business hacker-ready.
Talk to Mitigata’s cyber experts today and get the right cover for your company.
