Policybazaar launches EV insurance for Tesla buyers; premiums from ₹40,000–₹2.2 lakh

Policybazaar has launched specialised insurance plans for Tesla buyers, days after the electric carmaker officially opened bookings in India on July 15. Tesla’s Model Y SUV starts at ₹59.89 lakh, with deliveries for the RWD version set to begin in late Q3 2025.

The new plans cover Tesla’s high-value batteries, tech parts and unique EV needs. Add-ons include battery protection, zero depreciation, roadside help, consumables, and return-to-invoice cover.

Annual premiums for a Model Y with an insured value of ₹55.95 lakh range from ₹40,000 to ₹2.20 lakh, depending on the insurer and features.

Customers can compare and buy policies online from private insurers like HDFC Ergo, ICICI Lombard, Reliance General and PSU players like New India Assurance.

“Tesla’s arrival marks a new era for India’s EV ecosystem. We want to make EV insurance easy and affordable,” said Amit Chhabra, Chief Business Officer, General Insurance, Policybazaar.com.

Other insurers are also targeting Tesla owners.

ACKO has partnered with Tesla as its preferred insurer, promising an end-to-end digital policy and claims experience. Animesh Das, MD and CEO, said ACKO aims to “redefine how innovation is protected.”

Liberty General Insurance and Zurich Kotak General Insurance have introduced EV-focused covers too. These plans protect batteries, chargers and offer support like roadside help, accommodation and travel in case of breakdowns.

Tesla’s official India entry has triggered a flurry of custom insurance products as the country’s EV market expands.

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