Tesla Debuts in India; Insurers Roll Out Special EV Covers

Mumbai — Tesla has officially entered the Indian market with the launch of its first showroom in Mumbai on July 15, showcasing the Model Y in two variants: Rear-Wheel Drive (₹60 lakh) and Long Range Rear-Wheel Drive (₹68 lakh+). The debut of the world’s best-selling electric SUV has triggered a quick response from Indian insurers, who are offering tailored electric vehicle (EV) insurance plans for Tesla owners.

Zurich Kotak General Insurance has introduced “Car Secure – EV Protect,” a bundled plan designed specifically for electric vehicles. It covers critical components such as batteries, motors, and chargers against risks like water damage, short circuits, and overheating.

Similarly, Digit Insurance offers an “EV Shield” add-on, which includes battery and motor protection, roadside assistance with mobile charging or towing, and optional coverage for panel scratches, animal damage, and charger replacement. Policybazaar has also highlighted the growing importance of “Battery Protect” covers due to the high cost of EV batteries.

Premiums for Tesla’s Model Y range from ₹80,000 to ₹1,25,000 annually, depending on coverage, battery capacity, and location. Exclusions, similar to those for regular vehicles, apply—such as damages from unauthorized repairs, negligence, or driving in flooded areas.