Tesla has officially entered the Indian market, and several insurance companies are now offering special plans for Tesla owners.
Policybazaar was quick to launch a dedicated vehicle insurance plan for Tesla buyers.
Tesla started bookings in India on July 15, with its first model, the Model Y SUV, priced at Rs 59.89 lakh. Deliveries for the RWD variant will begin by the end of Q3 2025.
EV-Specific Insurance Features
Policybazaar’s insurance plans are specially designed for electric vehicles like Tesla. These plans include important features such as:
Battery protection
Cover for advanced technology parts
EV-specific benefits
Additional covers available include:
Zero depreciation
Roadside assistance
Return-to-invoice cover
Premium Range Based on Features
For a Tesla Model Y insured at a value of Rs 55.95 lakh, the annual premium can vary between Rs 40,000 and Rs 2.20 lakh. The final premium depends on the insurance provider and the selected features.
Compare and Buy Online
Customers can visit the Policybazaar website to compare plans from major public and private insurers, including:
HDFC Ergo
ICICI Lombard
Reliance General
New India Assurance
Policies can also be purchased online through the platform.
Policybazaar’s Statement on EV Insurance
Amit Chhabra, Chief Business Officer – General Insurance at Policybazaar, said that Tesla’s launch is a major step for India’s electric vehicle market. He added that their goal is to make EV insurance simple and affordable for everyone.
ACKO: Tesla’s Preferred Insurance Partner
Tesla has partnered with ACKO, making it the brand’s preferred insurance company in India. ACKO offers a completely digital experience for both buying the policy and making claims.
More Insurers Join the EV Space
Other companies like Liberty General Insurance and Zurich Kotak General Insurance have also introduced insurance products specifically for electric vehicles. These plans include:
Coverage for EV batteries and chargers
Roadside assistance in case of breakdown
Tesla’s entry into India has led to rapid growth in the market for custom EV insurance products.
