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EV for All

Electric Bike Insurance

24x7 Roadside Assistance with 11 benefits

Dedicated EV Helpline

Towing- Out of Energy, Breakdown, Accidental and much more

Electric Car Insurance

Care for EV with 11 Roadside Assistance Services

On-site Charging, Pickup & Drop

Dedicated EV Helpline with SOS and much more

Electric Commercial Insurance

Revenue Loss Protection Cover

Towing Expense Cover

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24x7 Roadside Assistance for Electric Vehicle

We are with you always to assist you with our specialized electric vehicle services and ensure peace of mind. Our team is just a call or a click away to assist you or get to you to help you deal with a situation regardless of where you are in India.

Regardless of whether you have to get a tyre changed, need an expert look into the electric vehicle’s motor/battery, etc. You can reach out to us at any time and avail yourself of the spot assistance for diverse situations.

 

 

* In selected Cities 

Terms and conditions apply

 

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

EV INSURANCE- DESIGNED TO BE DIFFERENT


Owing to adapting to the new habits of customers who are becoming a major contributor in the transition to electric and sustainable mobility. The Bajaj Allianz EV insurance offers unique services that address the customer worries:

Critical Illness Policy

Dedicated EV helpline

  • 24x7 assistance service
  • Expert support for all EV queries
  • Query or issue related to
    • insured’s vehicle,
    • it’s battery,
    • charging stations etc.
  • Support for any other assistance required such as
    • flat tyre,
    • accidental / breakdown towing to nearest dealership etc.

Critical Illness Policy

SOS

  • Emergency SOS call provision
  • SOS button will be linked to the electric vehicle
  • Notifies emergency services by pressing the SOS button

Critical Illness Policy

On-site charging

  • Portable mobile charger.
  • First of its kind service in India.
  • Accessible in only selected cities providing instant charging support on the way to complete the journey in no time.

Critical Illness Policy

Pickup & Drop

  • Towing for electric vehicle in case of
    • out of energy
    • breakdown
    • accident
  • A driver is arranged to help and provide support to the customer.

 

EVeryday EV-Insurance for EVeryone

Electric Vehicles (EVs) are becoming increasingly popular in India; the fact that EVs are eco-friendly, economical, and require lower maintenance expenses makes them a great choice among customers. Additionally, the central government is constantly taking new initiatives to boost the adoption of EVs.

Considering the growing focus of governments and industry bodies on greener and more sustainable solutions, the adoption of EVs is only going to increase with time. With more and more people buying EVs each year, the EV industry holds a promising future in India. People who own or intend to buy EVs must have an EV insurance policy.

The EV Insurance policy of Bajaj Allianz General Insurance covers EVs from any potential financial loss or damage in case of events like accidents.  Insurance for EVs helps to secure vehicle owners from any potential financial risks and provides them financial protection during their time of need. Our policy also provides you 11 roadside assistance services for your vehicle which includes dedicated EV helpline, On- site charging, SOS, out of energy towing and many more services.

On-the-go claim settlement through Health CDC.

Add-ons in Electric Vehicle Insurance

Some add-ons can be opted for under the electric vehicle policy. Here is a rundown of some of the add-ons that are offered for electric vehicles:

Motor protection(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 Read more

Motor protection(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

Depreciation cover

Depreciation amount, partly or fully, on assessed damaged parts allowed for replacement during repairs in event of partial loss Read more

Depreciation cover  :

Depreciation amount, partly or fully, on assessed damaged parts allowed for replacement during repairs in event of partial loss to insured vehicle during policy period. Claims are subject to terms and conditions set forth under motor insurance policy

Consumable expenses

Buying an EV and maintaining an EV are two different things. There are frequent expenses involved when it comes to the maintenance of your vehicle Read more

Consumable expenses : 

Buying an EV and maintaining an EV are two different things. There are frequent expenses involved when it comes to the maintenance of your vehicle from servicing spare parts to replacing them, there are expenses surrounding your vehicle all the time. And we are not even talking about the different types of parts that need to be changed every now and then and during an accident. With the consumable expenses’ coverage, you can let us take care of the expenses involved in the use of consumables for your vehicle at the time of servicing or post-accident.

Pay as you consume plan for your car

1. Option to choose KM based plan 2. KM exhausted during policy period then you can add KM through top –up plan to continue the benefit Read more

Choose your own premium and make your own policy

1.  Option to choose KM based plan

2.  KM exhausted during policy period then you can add KM  through top –up plan to continue the benefit

3.  No claim bonus - As per tariff provision

4.  Telematics: premium benefit based on- telematics enabled device or mobile connected or BJAZ driven smart app, and/or driving behavior

 

What is Health Insurance

Electric Vehicle Industry - An Overview

Driven by the concern over climate change, environmental pollution, and the energy crisis, India’s automobile industry is undergoing a unique transformation. Electric mobility is promising to replace conventional fossil fuel-based transports in India. Almost every developed country is paving the way for a new era of clean mobility.

The demand for EVs is growing in India; this impending shift from internal combustion engines (ICEs) to electric motors has significant implications on the broader automotive ecosystem, including insured and insurers. This transformation will require insurance companies to evaluate new risk factors introduced by changing infrastructure and core technology. With the government pushing for greener solutions and increasing uptake of EVs, insurers expect it to emerge as a key segment in the near future.

EVs are not only eco-friendly, but they also offer a green alternative to diesel and petrol vehicles; to top this, they are also significantly cost-effective in the long run. However, a primary concern remains whether we have a suitable EV insurance policy. Before we delve into understanding EV insurance, let us briefly understand the EV market in India.

 

 

Electric Vehicle Market in India

The Indian EV industry is quite new but the sector holds immense potential to grow. We have strong policies like FAME I, FAME II, and state-level competitive EV supportive policies. Today, India has the potential to be a global EV manufacturing hub. India is a unique market as it is easy to attract fleet operators, public transportation, and shared mobility platforms. The next couple of years are crucial for the Indian EV industry as the market is poised to grow like never before.

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CARE TO INSURE THE FUTURE- YOUR ELECTRIC VEHICLE

At Bajaj Allianz General Insurance your security and safety have always remained our prime concern.  Now you can easily secure your valued EV with our EV insurance policy and sense peace of mind.

As per the Motor Vehicles Act, all the vehicles running on the Indian road need to have third-party vehicle insurance. Failure to comply with this rule will attract a hefty penalty along with other legal consequences. Having EV insurance will help customers to get optimum protection for their vehicles.

EVs have specific needs when it comes to insurance. With our EV insurance policy, we promise to deliver end-to-end solutions and offer innovative products and services to meet the unique needs of your prized possession.  Opt for our EV insurance and remain worry-free as your vehicle hit the road!

 

FEATURES OF BUYING EV INSURANCE POLICY

Our EV insurance policy comes with various features that are beneficial not only for the owner of the vehicle but for other parties as well and also it provides financial security in terms of cost of ownership. Having the right EV insurance in place helps the vehicle owner abide by the law as well as enables them to protect their vehicle. 

 

Comparison Between ICE Engine Premium and Electric Vehicle Premium

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

 

Motor Kilowatt

One Year Policies

Long Term Policies-5 years (For New Vehicles)

Not exceeding 3 KW

Rs. 457

Rs. 2,466

Exceeding 3 KW but not exceeding 7 KW

Rs. 607

Rs. 3,273

Exceeding 7 KW but not exceeding 16 KW

Rs. 1,161

Rs. 6,260

Exceeding 16 KW

Rs. 2,383

Rs. 12,849

 

Third-party premium for ICE

 

Motor CC

One Year Policies

Long Term Policies-5 years (For New Vehicles)

Not exceeding 75 cc

Rs. 538

Rs. 2,901

Exceeding 75 cc but not exceeding 150 cc

Rs. 714

Rs. 3,851

Exceeding 150 cc but not exceeding 350 cc

Rs. 1,366

Rs. 7,365

Exceeding 350 cc

Rs. 2,804

Rs. 15,117

 

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

Disclaimer: The electric motor insurance premium may vary as per the vehicle

Please refer - Important link and features for detailed review of current Third Party Liability rates.

Latest statistics you may like to know...
10 Lakh +

EVs registered since FY12

450+

Manufacturing of electric vehicle as on date

15 M +

expected EV sales by 2030

50% +

Approx electric vehicle are of two wheeler and 3 wheeler

Steps to Claim Vehicle Insurance Policy

Filing for a vehicle insurance claim isn’t as complicated as you think, only if you choose the right insurance provider. Before you finally decide to claim the insurance, here are some prerequisites that you must take care of.

  • ✓   Contact your insurer as soon as you meet with an accident and file an FIR.
  • ✓   Get assistance in towing the vehicle to the nearest garage only after securing all the evidence of the accident scene.
  • ✓   The network garage will provide you with a quote regarding the estimated cost of repair.
  • ✓   You will need that bill to present it to the insurance providers.
  • ✓   The insurer will verify the documents and evaluate their authenticity, and only then the claim process can begin.
  • ✓   Know that the deductibles and depreciation value can’t be claimed. Only the remaining amount will be paid to you as compensation.
  • ✓   After accounting for all this, the process you will have to follow goes like this:
  • Step 1: Register for claim

    Log in to our website or call our toll-free number to register for a claim. The delay you make in making a claim and contacting us, there is a higher chance that the evidence you can use will get tempered.

  • Step 2: Submit mandatory documents

    We will need you to submit the following documents to ensure that the motor insurance claim process goes without a hitch:

    • ✓   Chassis and motor number
    • ✓   Date and time of the accident
    • ✓   Location and description of the event
    • ✓   Car inspection address
    • ✓   Kilometre readings
    • ✓   Police complaint (in case of accidents and theft)
  • Step 3: Claim settlement

    The moment you submit the documents, we will initiate the process and dispatch the money after verification directly to the receiving party.

DOCUMENTS REQUIRED TO BUY CAR INSURANCE ONLINE

When you buy car insurance online, ensure you have the soft copies of the following documents in hand to seamlessly complete the process in minutes -

  • Details about your vehicle including registration number
  • A valid driver’s licence
  • Completed claim form
  • Bank details
  • Tax receipts
  • Filled insurance forms

Why Car Insurance? Watch the video to know more

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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...

About Electric Vehicle Insurance FAQs

Does insurance cover electric vehicles?

Just like diesel, petrol, or CNG-powered vehicles, you can also insure your electric vehicle with the electric vehicle insurance policy. Secure the EV with a law-mandated third party insurance plan. 

Is electric vehicle insurance more expensive?

Yes, electric vehicles are costlier when compared to petrol or diesel-run vehicles. EVs involve a high repair or replacement cost because of the technology involved. The electric vehicle insurance premium depends upon various factors such as the vehicle cost, variant, age of the EV, and so forth. The EV vehicle insurance rates will differ from insurer to insurer.

Are there any discounts on insurance premiums for electric vehicles?

As per IRDAI, the insurance companies in India need to offer a 15% discount on third-party insurance for electric vehicles. However, for optimum protection, it is recommended to opt for comprehensive electric motor insurance

Is insurance required for electric vehicles in India?

Electric vehicle insurance policy is important for the complete protection of the vehicle in case of any eventuality. Having EV auto insurance will not leave you under financial stress and give you peace of mind as well. 

What are the add-ons for electric motor insurance?

By paying an additional extra premium, you can avail of benefits that are added to the base EV insurance policy.  The add-on premiums will differ from insurer to insurer. It is recommended to analyze the needs and only after it chooses suitable add-ons for the EV insurance.

What is comprehensive electric motor insurance?

A comprehensive electric motor insurance policy offers a cover in case the electric vehicle incurs any loss/damage due to any man-made or natural calamity, etc. It also provides cover if there is loss or damage caused to a third-party owner, vehicle, or property.

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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