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Electric Car Insurance

The demand for electric cars is slowly pacing up in India. It is not only a great green alternative to diesel and petrol vehicles. But it is also cost-effective in the long run. The concept of an electric vehicle is still developing in our country, so buyers sometimes have concerns about finding the right electric car insurance.

 

ROUND-THE-CLOCK ASSISTANCE FOR ELECTRIC CAR INSURANCE

Anyone who has an electric car or plans to own one should consider buying a suitable electric car insurance policy. The electric car insurance plan offer financial security for any unexpected loss or damage incurred to and or by the vehicle insured.

You can have access to our specialized road side assistance services exclusive designed for Bajaj customers under EV insurance policy:

 

* In selected Cities 

Terms and conditions apply

WHY SHOULD YOU BUY AN ELECTRIC CAR INSURANCE POLICY?


The electric car insurance policy offers financial protection to the vehicle against any liabilities. Uncertainty can occur at any point in time. Hence, it is always better to be safe than sorry. Insurance for EVs helps to secure vehicle owners from any potential financial risks and provides them financial protection during their time of need.

Let us have a look at the below common advantages that an electric vehicle insurance policy offers:

Financial Protection

Financial protection for damages

Buying an EV car insurance policy offers financial security. The insurance company is liable to pay for the incurred loss or damage as per the policy condition.

Abiding by the Laws

Adhering to the laws

As per the Motor Vehicles Act, 1988, third-party insurance is compulsory. Having an electric car insurance policy will help you to remain on the secure side of the law.

Peace of Mind

Peace of mind

When you have an electric car insurance policy, you need not worry about the expenses that may incur due to an untoward incident.

BENEFITS OF BUYING ELECTRIC CAR INSURANCE

The Bajaj Allianz’s EV car insurance policy offers the following benefits that you can enjoy:

Financial security
Enhanced insurance coverages and services for your EV
Faster claim settlement
Compliance with the law
Peace of mind
Specialized EV 24x7 assistance
EV helpline
On-site charging

WHAT IS COVERED AND NOT COVERED IN AN ELECTRIC CAR INSURANCE?

  • Inclusions
  • Exclusions

Accidents

Theft

Fire

Natural disasters

Personal accidents

Losses to third-party

1 of 1

Damages due to electrical or mechanical failure

Damages due to reckless driving

Driving without holding a valid driving license

Driving under the influence of alcohol or other intoxicating substances

1 of 1

 

BAJAJ ALLIANZ ADD-ON COVERS FOR YOUR ELECTRIC CAR

 In Additon of 24X7 Sport assistance to your EV, Add-ons are additional features that are available on an optional basis. Here are some add-ons that you can choose to enhance the coverage of the electric car insurance:

  • Depreciation cover

    Depreciation cover: It is also known as bumper-to-bumper cover or Zero Depreciation Cover. This can be added to the existing electric car insurance policy. With this cover, the insured nullifies the depreciation that is associated with the car. It means that the car doesn't lose its value in the market. The depreciation of the vehicle is not considered by the insurance company.

  • Lock and Key Replacement

    Lock and key replacement : A cover is offered when the key of the car is to be replaced. The costs involved in having new keys are expensive as the complete locking system needs to be replaced.

  • Consumable expenses

    Consumable expenses : Maintaining an electric vehicle is extremely important. Right from servicing the spare parts to replacing the parts, there are huge costs involved. Having a consumable expense cover takes care of any such costs during servicing or after the mishap.

  • Personal Baggage Cover

    Personal baggage cover : There are chances that if the car is parked in some isolated or less populated areas, an incident like theft or burglary may take place. Having a personal baggage cover protects personal belongings. It also covers the incurred loss or damage that one may face in case of theft from the electric vehicle.

  • Conveyance benefit

    Conveyance benefit : While the electric car is being repaired at the network garage, having this add-on is helpful. With this add-on, you need not worry about the everyday commute expenses that you may be charged for the servicing of the car. This cover ensures that the insurance company pays for the incurred commute expenses.

  • Motor protector

    Motor protector(It is covered under Engine Protect add on): Motor is one of the most crucial parts of an electric vehicle. Being one of the most expensive parts for servicing, you end up spending more to recover your vehicle’s motor from a malfunction or an accident. That’s why the Motor protection is the most ideal solution to feature in your insurance policy. This helps you save the money you would spend on getting your car’s Motor fixed

 

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PARAMETERS THAT AFFECT EV INSURANCE PREMIUM

An EV car insurance is no one-size-fits-all product. Thus, you and your friend, despite having the same car, may have different premium amounts.

Here are some parameters that impact the premium of your EV insurance policy:

  • ✓   Type of car 

  • ✓   Insured Declared Value 

  • ✓   Geographical zone 

  • ✓   Add-on covers 

  • ✓   No claim bonus 

  • ✓   Vehicle age

  • ✓   Vehicle capacity e.g. Kilowatt

  • ✓   Vehicle sum insured

Note: Other than above many more parameters can also affect the EV insurance premium

 

What is Electric Car Insurance?

Electric car insurance is a type of motor insurance that protects electric cars from any potential damage/loss in case of any accident/mishap, etc. Electric cars are becoming a popular option as it's not only environmental-friendly but pocket-friendly as well. 

Wondering, what makes an electric car different?

Well, a regular car requires petrol/diesel as fuel to run, however, when it comes to electric cars they are charged with electricity. Choose the right cover for your electric vehicle to avoid any out-of-pocket expenses.

 

Using electric vehicle insurance quote premium calculator

An electric car insurance calculator is a nifty tool provided as an additional facility, where you can estimate the premium of your policy. It is based on the selection of the plan, as well as the various add-ons with it. This facility is available on the website for no additional charges. 

SOME OTHER EXISTING SERVICES ARE ALSO AVAILABLE HEREWITH

Time to get a motor insurance: Less than 3 minutes
Tailored add-ons: Enhance protection with list of add ons
No claim bonus transfer: Up to 50%
Claims settlement ratio: 98%
Cashless services: Across 6,500+ network garages
Claims process: Digital - within 20 minutes*
On-The-Spot claim settlement: With 'Caringly Yours' app

Secure your smiles, drive electric and insure the future of transportation today

 

THINGS TO CONSIDER WHILE BUYING ELECTRIC CAR INSURANCE

Buying an electric car insurance policy should be a thoughtful process, and hence, the following considerations can help you select a suitable electric car insurance policy: 

 

  •  ✓ Wholistic coverage

     

  •  ✓  Breakdown services

     

  •  ✓  Third party liability from person/property

     

  •  ✓ To cover legal mandate

     

  •  ✓ Vehicle damage protection

     

  •  ✓  Passenger legal and personal accident covers

     

  •  ✓  Cashless claim process

     

  •  ✓  Network garages access

     

  •  ✓  NCB continue benefit

     

 

ELECTRIC CAR INSURANCE PREMIUM CALCULATOR

 

Bajaj Allianz four wheeler insurance third-party premium for electric vehicles

 

Motor Kilowatt

One Year Policies

Long Term Policies-3 years (For New Vehicles)

Not exceeding 30 KW

Rs. 1,780

Rs. 5,543

Exceeding 30 KW but not exceeding 65 KW

Rs. 2,904

Rs. 9,044

Exceeding 65 KW

Rs. 6,712

Rs. 20,907

 

Third-party premium for ICE

 

Motor CC

One Year Policies

Long Term Policies-3 years (For New Vehicles)

Not exceeding 1000 cc

Rs.  2,094

Rs. 6,521

Exceeding 1000 cc but not exceeding 1500 cc

Rs. 3,416

Rs. 10,640

Exceeding 1500 cc

Rs. 7,897

Rs. 24,596

 

HOW TO BUY ELECTRIC CAR INSURANCE POLICY ONLINE?

With Bajaj Allianz General Insurance, you can get your electric car insurance policy in simple steps:

 

  •  ✓  Visit   Bajaj Allianz’s Electric Car Insurance Page

     

  •  ✓  Specify the details of your car

     

  •  ✓  Select a policy that best fits your requirements

     

  •  ✓  Mention the details of any existing insurance policy, along with the details of any claims made and the available no-claim bonus

     

  •  ✓  Once the quote is generated, opt for an add-on, or change the car’s IDV, if needed

     

  •  ✓  Make the payment based on the selections in your policy and receive the policy within seconds

     

     

     

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Why Choose Bajaj Allianz Electric Car Insurance Policy?

While there are a plethora of car insurance alternatives, a policy from Bajaj Allianz General Insurance has the following advantages:

Features

Offerings

Cashless repairs

Across 6500+ network garages

Quick purchase journey

Takes less than 3 minutes

Claim facility

Cashless claims

Transfer of No claim bonus

Available, up to 50%

Customizable add-ons

7+ add-ons including the motor protection cover(It is covered under Engine Protect add on)

Claims processing

Digital facility within 20 minutes

Claim settlement ratio

98%*

On-the-spot settlement

Available through the Caringly yours app

*Standard T&C apply

How to File a Claim Under Electric Car Insurance Policy?

When you buy an electric car insurance policy, it isn’t only for legal compliance, but also to avail financial coverage in times when an unforeseen loss or damage takes place. For that, you need to follow the below-mentioned steps:

  • ✓   Inform your insurance company.
  • ✓   Click pictures evidencing the damages to your car.
  • ✓   Keep all necessary documents ready when filing the claim. 

Once we complete inspecting the extent of damages, your electric car can be fixed. The compensation will be disbursed according to your type of policy: cashless or reimbursement.

*Standard T&C apply

The electric powered vehicles are indeed changing the way we commute. The electric vehicles demand to grow in the coming years. So if you have an electric car, ensure to be adequately covered.

The future is electric and you are just a few clicks away from our care.

HOW TO CHECK THE STATUS OF ELECTRIC CAR INSURANCE POLICY ONLINE?

Here are four steps to know the status of your electric car insurance policy online:

1.      Log on to the official web-portal

2.      Enter the necessary details into the web portal

3.      After verifying your details, click on the submit button

4.      View the details of the active policy or the previous policy (if the current policy is inactive)

*Standard T&C apply

Customer Stories

Average Rating:

 4.67

(Based on 18,050 reviews & ratings)

Siba Prasad Mohanty

The vehicle was used by our Zonal Manager Sir. We appreciate the timely and speedy action initiated by you in getting the vehicle ready for use within short span of time. The action has been appreciated by all. 

Rahul

“A range of options to choose from.”

Being a perfectionist, I prefer the best of everything. I wanted my car insurance policy to be airtight as well. With the add-ons and comprehensive plans,...

Meera

“OTS claims was a blessing in disguise.”

I was in the middle of the road when a mishap happened. With cash crunch, I was looking for ways to get my car serviced without affecting my monthly budget...

FAQs About Electric Car Insurance

Is it important to have an electric car insurance policy?

Having third-party insurance to ply on the Indian roads is a mandate. Not adhering to the same may lead to various legal implications. To have peace of mind and optimum protection choose the EV car insurance plan fulfilling your needs.

What is the ideal coverage for an electric car insurance policy?

The expense of parts and service charges for any electric vehicle is on the higher side when compared to a petrol/diesel vehicle. Hence, it is recommended to buy a comprehensive EV insurance policy.

What is the life of an electric car?

The life of the vehicle will depend on its battery size, motor and usage, but many are guaranteed by the manufacturer for as much as 100,000 miles or 8 years.

Can the electric car be charged at home itself?

Yes, you can charge it at home. With Type 1 AC charger, you can charge from an AC socket. The Type 2 or wall box charger is usually installed by car companies (for free currently) at home and is faster. There are other faster chargers too besides these.

What's the duration of a charging session?

Depending on car model, how big the battery is and how fast the charging point is, it can take anywhere from around 60 minutes to 8-9 hours for an electric car to charge up to 80%. However, with rapid chargers, you can reduce this time to 30-40 minutes. While you can get your petrol/diesel car filled within minutes, it will easily take 6-8 hours to charge your car at home. Even with fast chargers and bigger batteries it will take 35-60 minutes to get an 80% charge

Written By : Bajaj Allianz - Updated: 10st  September 2022

Thank You for Your Interest in Bajaj Allianz Insurance Policy, A Customer Support Executive will call you back shortly to assist you through the Process.

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Disclaimer

I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

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