Policybazaar Introduces Specialised EV Insurance Plans for Tesla Buyers in India

Policybazaar has introduced specialised car insurance products for Tesla customers, following the electric vehicle maker’s official entry into the Indian market. Tesla opened bookings for its Model Y SUV on July 15, 2025, with the RWD variant priced at ₹59.89 lakh. Deliveries are expected to begin in the latter part of Q3 2025.

The new insurance plans are to cover Tesla’s electric vehicle components, including high-value batteries and advanced tech systems. Optional add-ons include zero depreciation, battery protection, roadside assistance, coverage for consumables, and return-to-invoice benefits.

Premium Range Based on IDV

The annual premium for a Model Y with an insured declared value (IDV) of ₹55.95 lakh ranges between ₹40,000 and ₹2.2 lakh. The final premium depends on the insurer selected and the features included in the policy. These plans are currently available online through Policybazaar.

Tesla buyers can compare policies from private insurers such as HDFC Ergo, ICICI Lombard, and Reliance General. Public sector insurer New India Assurance is also listed on the platform. All policies are available for direct purchase through Policybazaar’s digital interface.

Tesla-Focused Covers

Several other insurers have launched Tesla-specific or EV-focused policies. ACKO has partnered with Tesla as its preferred insurance provider, offering a fully digital policy issuance and claims process. Liberty General Insurance and Zurich Kotak General Insurance have also introduced EV-specific covers.

Additional Services

These EV plans from various insurers cover not just the vehicle but also components such as chargers. Some plans include support for hotel accommodation and alternate travel arrangements in case of breakdowns, particularly for long-distance drives.

Read More: Tesla Set to Roll Out First Deliveries in India This August!

Conclusion

Tesla’s entry has led to the rollout of custom EV insurance plans by multiple insurers. Policybazaar’s new offerings are among several products introduced in response to the growing need for electric vehicle-specific insurance coverage in the Indian market.

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