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Revenue Loss Protection Cover
Towing Expense Cover
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✓ Peace of mind
✓ Quick claim settlement
✓ Cashless claim service
✓ Large garages network
✓ Enhance digital experience
✓ Comprehensive coverage
✓ Specialized EV helpline
Roadside Assistance Cover
Dedicated EV helpline
Installation of wall box for charging
On-site Charging
1. Comprehensive coverage
2. Coverage for different commercial vehicles
3. Protection for driver and maintenance personnel
EV insurance is mandatory and required protection for your vehicle and for your time and financial protection and get the edge with us for:
Buying an EV commercial insurance policy offers financial security. The insurance company is liable to pay for the incurred loss or damage as per the policy condition.
We are with you anywhere anytime for your EV with our specialized roadside assistance services such as- Dedicated EV helpline, Out of Energy towing, On-site Charging, Pickup & Drop, Minor Repair, Accommodation & Legal Assistance etc.
Our quick and best in industry claim process with vast network garages gives you a reach for best in class claim experience and services.
As per the Motor Vehicles Act, 1988, third-party insurance is compulsory. Having an electric commercial insurance policy will help you to remain on the secure side of the law.
Get peace of mind with specialized EV insurance with comprehensive coverage, services, claim experience, dedicated helpline and many more.
When your business includes electric vehicles, repairs are bound to take place. An electric commercial vehicle insurance has some of the following noteworthy features that you should know about:
Here are some policy features that Bajaj Allianz’s commercial EV policy specialises at:
Feature | Benefits offered by Bajaj Allianz’s EV policy |
Quick purchase journey | Takes less than 3 minutes |
Claim facility | Cashless claims |
Claim settlement ratio | 98% |
On-the spot settlement | Available through Caringly Yours app |
Customer support | Round-the-clock 24-by-7 support |
Type of vehicles covered | E Cabs, E Taxies, E Cart, E Rickshaw, E Auto etc. |
Additional coverage | Personal accident cover, third-party liability cover, variety of addons, coverages for own driver, pessengers etc. |
Cover for damages to third parties | No limit for personal injuries; however, up to ₹7.5 lakhs for property or vehicle damage. |
Locate charging stations
Government guidelines
IRDAI guidelines
TP rate circular by IRDAI
When buying EV insurance for your commercial vehicles, it is important to be aware of the inclusions and the exclusions. Since your commercial vehicle is used manifold in comparison to a private car or two-wheeler, staying on top of what is covered and what isn’t is crucial.
Here’s what is covered under an electric commercial vehicle insurance policy:
Accidents and collisions are unpredictable situations that may arise
Read moreAccidents and collisions are unpredictable situations that may arise even if you are driving safely, even more so if it is a commercial vehicle.
With an electric vehicle insurance policy for your commercial vehicle, you can ensure the damages due to collisions and unfortunate accidents are covered.
With an increasing number of vehicles, there is a higher chance of
Read moreWith an increasing number of vehicles, there is a higher chance of your commercial vehicle getting stolen.
In the unfortunate incident of theft of the vehicle, be it from a parking space or any other location during the journey, an EV policy in India compensates for such a loss.
Most commercial vehicles can be due to many reasons
Read moreMost commercial vehicles can be due to many reasons, including mechanical fault or even batteries malfunctioning.
An electric commercial vehicle insurance policy covers these situations, relieving financial stress for the policyholder.
If an electric van were to catch fire, then electric van insurance can help protect against the financial repercussions of the same.
As commercial vehicles travel across terrains to ply goods and passengers
Read moreAs commercial vehicles travel across terrains to ply goods and passengers, there is a higher chance of them getting damaged due to natural calamities on different terrains.
Events such as hurricanes, cyclones, earthquakes, floods, and hailstorms cause damage to human life as well as vehicles.
An EV policy for your electric goods vehicle or passenger-carrying vehicle ensures the damages due to such natural disasters are covered by the policy’s scope
Since most commercial vehicles are plied by dedicated drivers
Read moreSince most commercial vehicles are plied by dedicated drivers, it is essential to ensure their protection. A personal accident policy helps safeguard the driver of such vehicles against injuries, disability, and even death.
Electric commercial vehicle third-party insurance coverage is mandatory as per prevalent laws.
Read moreElectric commercial vehicle third-party insurance coverage is mandatory as per prevalent laws. Injuries to a third person due to the commercial vehicle are covered by the third-party cover of an electric commercial vehicle insurance policy.
Here, injuries are covered with no limit, whereas damages to the property of a third person are restricted to ₹7.5 lakhs
Not all commercial vehicles can be repaired on the spot.
Read moreNot all commercial vehicles can be repaired on the spot. Hence, if these vehicles need to be towed, a commercial EV insurance policy comes in handy.
As essential as it is to know about what is covered by the insurance plan, it is equally important to know about what isn’t.
Here’s all that isn’t covered:
For instance, a driver deciding to ply the vehicle despite being in a situation involving floods is a case that isn’t covered by the insurance policy.
Consequential loss is another instance excluded where the damage is not a direct result of the accident or event damaging the vehicle.
As business organisations move to using electric vehicles in place of conventional ICE vehicles, it is important to know how the policy premium is charged.
There is no single factor that impacts the premiums, but many factors work in tandem.
An electric commercial vehicle insurance calculator can help you get an idea of the premium, based on the values of these factors applicable to your vehicle.
Thus, similar commercial EVs may be used by the different branches of your organisation.
However, the electric commercial vehicle insurance price for each vehicle can differ according to the following:
1. Insured Declared Value of the commercial vehicle
Insured declared value or IDV is the amount the insurance company compensates for in the unfortunate event of complete loss or total damage.
It is the maximum compensation offered by the insurance company towards the insured vehicle.
Since the IDV limits the maximum risk to be underwritten by the insurer, it has a direct bearing on the insurance premiums.
Therefore, the higher the IDV, the higher will the premiums be, and vice versa.
2. Age of the vehicle
Another critical consideration impacting the insurance premium is the age of your vehicle.
Depending on how old the insured vehicle is, the repairs for it will be expensive.
Thus, the age of a vehicle determines how frequently a claim for repairs may be raised, thereby impacting the overall insurance premium.
The correlation between the age of the vehicle and the premium can be understood with the help of the electric commercial vehicle insurance calculator.
3. Registration Zone
The registration location of your commercial EV determines how the policy premiums change.
India is divided into two zones.
Zone A comprises eight metro cities of Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi, and Pune.
Zone B comprises the rest of India.
The risk of accidents and damages is higher for vehicles in metro regions often congested with traffic snarls.
Hence, the underwritten risk for commercial electric vehicles in these areas is higher.
Thus, the electric commercial vehicle insurance price changes based on the registering location of the vehicle.
4. Add-on covers
Add-on covers are optional policy features that can be purchased. They are not included in the policy by default.
Hence, opting for suitable add-ons impacts the premium of your commercial EV insurance policy.
5. Type and model of the vehicle
Depending on the model and the type of vehicle, the underwritten risk for a commercial vehicle differs.
Accordingly, the insurance premiums differ based on the model and type of vehicle.
For instance, an insurance policy for an electric goods vehicle, such as a tempo or a truck, carries a specific kind of risk.
An insurance policy for an electric van that ferries school kids, on the other hand, bears different kinds of risks. Hence, their premiums can be different, too.
6. Type of fuel for the vehicle
Depending on the fuel type on which a vehicle operates, the insurance company must cover different risks.
For commercial EVs, the motor and the battery are two crucial components.
With coverage for these parts in your policy, the electric commercial vehicle insurance price will differ based on its capacity and output.
Sometimes the standard coverage of a commercial insurance policy for an EV isn’t sufficient. At these times, additional coverage by way of add-ons can help. These add-ons enhance the policy’s scope significantly by including more events.
However, these add-ons are optional and come at an increase in the electric commercial vehicle insurance price. Thus, they impact the overall insurance premiums. But the additional coverage these add-ons provide is beneficial in the long run. Hence, selecting the right set of add-ons is critical when choosing an EV insurance plan.
Here are some of the different add-ons to choose from:
Zero depreciation cover: The parts of a vehicle depreciate over time. This depreciation ends up lowering the value of the insurance claim.
The zero-depreciation add-on cover ensures the deduction for depreciation does not happen. This helps you receive a higher amount of compensation at the time of claim.
In the event of an accident, the depreciation is covered by the insurance company on spares such as rubber or fibreglass.
Thus, if you opt for a zero-depreciation add-on with your electric van insurance policy, you receive a more comprehensive compensation amount and save money in the long run.
24X7 Roadside assistance cover: Commercial vehicles are more prone to breakdown due to longer operating hours when compared to private vehicles.
At such times, having the access to round-the-clock roadside assistance is a boon.
In a situation where either the passengers or the goods are stalled, it may bring a financial loss to the business.
Hence, a 24X7 roadside assistance cover comes in handy.
Consumables cover: Buying a commercial EV and maintaining it are two distinct things. The choice of vehicle may be based on your business needs.
However, it is essential to keep changing the necessary spares and components to ensure it functions optimally.
For commercial vehicles usually used to ply goods and passengers, a breakdown can bring about financial loss to the business.
Hence, a consumables cover coupled with your standard insurance coverage takes care of the cost of the replacement of the components.
The addition of this add-on can lead to a nominal rise in the electric commercial vehicle insurance price.
Motor Protection cover: Since the motor is the heart of your commercial EV, any damage to it would mean hefty financial losses.
With a motor protection cover, the damages can be insured for times when a repair is required.
You may have to incur a rise in the electric commercial vehicle insurance price when you buy this add-on.
However, the add-on helps compensate the repair costs for the damages and repairs to the motor and proves to be a beneficial tool in the long run.
Loss of income: With some commercial EV insurance policies, loss of revenue due to downtime in your business is also compensated for.
In a business where the vehicles are critical for its operation, it is a nifty add-on to consider.
Getting the right policy for your commercial EV is critical to providing a comprehensive coverage. Here are some considerations to remember when choosing one:
● Policy coverage
The right policy coverage will ensure your business is protected from financial losses.
Hence, choosing a policy essential for your business is critical, be it a third-party policy or a comprehensive EV commercial policy.
● Insured Declared Value
Setting the right insured declared value or IDV is critical to ensure the correct compensation is available in case of accidents and damages.
The IDV of your commercial EV ensures your financial loss is limited while the insurer compensates for situations of total loss or complete damage.
Like the electric commercial vehicle insurance calculator, there are IDV calculators too which you can access for a better understanding.
● No-claim bonus
Considering the impact of the no-claim bonus is important to ensure your policy’s premium is priced right.
With a no-claim bonus, you can avail markdown on your electric commercial vehicle insurance price, even if you are switching your insurance companies.
● Add-on covers
Choosing the right set of add-ons ensures that coverage is adequate based on the different risks faced during the journeys.
However, ignoring add-ons that add little value to your policy’s coverage helps to keep the electric commercial vehicle insurance price in check.
● Cashless network garages
You can ensure the repairs for your commercial EV are carried out without requiring you to pay the full amount upfront.
A cashless network garage facility can help you out here.
This facility helps you carry out repairs for your commercial EV without having to pay the full amount. Instead, the insurer settles the bill on your behalf directly with the service garage.
● Deductibles
Make sure to check for the deductibles of your insurance plan. These deductibles in motor insurance help you lower the policy premium. However, if deductibles aren’t working for you, you can opt out from them.
Despite similar electric commercial vehicles used by the different branches in your organisation, the premium for each vehicle differs according to the following:
✓ Type of electric commercial vehicle
✓ Insured Declared Value
✓ Geographical zone
✓ Add-on covers
✓ No claim bonus
✓ Vehicle age
✓ Vehicle capacity e.g. Kilowatt
✓ Vehicle sum insured
✓ Commercial vehicle class
✓ Passenger carrying Capacity
✓ Gross vehicle weight
✓ Others
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 7,200+ 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
Commercial vehicles insured within the policy’s scope are classified into three categories: passenger-carrying vehicles, goods-carrying vehicles, and miscellaneous and special vehicles.
Passenger vehicles are those flying passengers across locations.
These kinds of vehicles include buses, electric auto rickshaws or taxis, an electric cargo van or school van, and more.
With state governments gradually shifting towards the electrification of their vehicle fleet, insurance coverage for these kinds of vehicles is essential.
A commercial EV policy helps comply with the necessary regulations, as well as ensures the protection of the stakeholders.
Moreover, as it is a vehicle plying passengers, it is the responsibility of the company to ensure safety. For instance, using an electric van insurance plan helps ensure the safety of the passengers of the van by covering damages to the vehicle.
Goods-carrying vehicles are an essential part of the logistic chain.
With soaring fuel prices, electric goods vehicles are replacing the conventional internal combustion engine (ICE) vehicles.
These commercial vehicles operate between different locations and even between factory premises. In both cases, having a commercial EV insurance policy helps safeguard against financial losses due to damages to the vehicle. Insurance policies, such as electric truck insurance or electric cargo van insurance, can benefit transportation businesses immensely.
Other than the conventional cabs, trucks, tempos, and buses, there are specialised vehicles used by certain business organisations.
Vehicles used for construction, farming, and mining are some examples of specialised vehicles.
A commercial electric vehicle insurance or EV insurance policy in India covers these types of specialised vehicles and the losses caused to and by them and their owner-driver.
Considering the large investment for these vehicles, an EV insurance policy for commercial vehicles is a smart choice to prevent unfortunate mishaps.
Bajaj Allianz helps you get an electric commercial insurance policy online in five simple steps:
1. Visit Bajaj Allianz’s Commercial Vehicle Insurance Page.
2. Mention the type of vehicle to be insured, along with details of the manufacturer, its model and make, and the registration location.
3. Among the different options, select a policy that fits best based on your coverage requirements.
4. The insurance quote is generated based on the policy specifics you have opted for. Here, you can also opt for add-ons based on the type of policy. Moreover, you can also change your commercial EV’s IDV and notice the overall impact on the premium.
5. Finally, make the payment based on the selections in your policy, and receive the electric commercial vehicle insurance online within seconds in your inbox.
Yes, it is possible to check the status of your electric commercial vehicle insurance online and offline. While you can make an offline enquiry, the online mode is quick and efficient. Here are five steps to check the policy status online:
1. Log on to the official IIB web-portal
2. Enter the necessary details into the web portal. These details include name, email ID, mobile number, address, commercial EV’s registration number, etc.
3. Once you have provided all the details and verified them, click on the submit button.
4. The details of the policy associated with the information entered will appear. That means your policy is still active. However, if it is not active, the results will show the details of the previous policy.
5. If following this method does not get you the required results, you can search again by using the engine and chassis number of your electric commercial vehicle insurance online.
You can carry out your electric commercial vehicle insurance renewal online on your own, or even by approaching your insurance agent or branch office. While offline electric commercial vehicle insurance renewal takes a bit longer, online renewal is fast and hassle-free.
1. Visit Bajaj Allianz’s commercial EV insurance page.
2. Provide your policy number so that the insurance company pulls up your existing policy information.
3. Now, you can alter the coverage of your policy by upgrading your policy to a comprehensive plan and choosing suitable add-ons. At this stage, you can also delete any unnecessary add-ons in your previous policy.
4. Once you arrive at the final premium amount, click on the electric commercial vehicle insurance renewal button.
5. The electric commercial vehicle insurance online payment page will appear once you click renew. Here, you have several options to complete your payment and renew your policy. Credit cards, debit cards, internet banking and even UPI are some of the ways to complete your policy’s renewal.
An electric commercial vehicle insurance policy comes in handy for dealing with damages to not just the commercial vehicle, but also the owner-driver.
These damages include situations such as accidents, collisions, natural calamities, and even fire and theft.
A business entity may require different forms of commercial vehicles for routine operations.
The Motor Vehicles Act of 1988 makes it mandatory to have commercial vehicle insurance for these vehicles.
Auto-rickshaws, cabs, school buses, tractors, commercial trucks, and vans are some examples of vehicles used for commercial purposes, such as for plying goods and passengers.
With an EV revolution in the country, commercial vehicles are also available with an electric motor option, making it necessary to have an electric commercial insurance policy.
Just like how a private vehicle requires insurance coverage, a commercial EV, such as an electric van or an autorickshaw, needs insurance.
● A commercial EV insurance policy protects your business by providing financial cover for the losses and damages caused to and by your vehicle(s) and the people who use it.
In the absence of an electric commercial vehicle insurance policy, these liabilities would, otherwise, be required to be paid by the business organisation.
● If you own and operate a business relying primarily on vehicles, for instance, a school van service, then electric van insurance will make sure your finances are protected and covered in case of damage to the van.
● Finally, it is mandatory for all vehicles registered in the country to have at least a liability-only cover. If you own an electric taxi, then you must have at least third-party electric taxi insurance. If you own a van, then you must have third-party electric van insurance coverage. Electric commercial vehicle third-party insurance policy protects your finances against third-party damages and losses caused by your commercial vehicle.
Many insurance companies may come up with a product offering for regular vehicles and a commercial EV. But why you must choose Bajaj Allianz’s commercial electric vehicle insurance policy is because of the following:
● 24-hour assistance
In emergency situations, the commercial electric vehicle policy provides round-the-clock assistance for repairs. It includes facilities like repairs, as well as towing.
● Comprehensive coverage
With an electric commercial vehicle insurance policy from Bajaj Allianz, business houses can avail the mandatory third-party coverage for injuries and damages as well as own-damage coverage for the insured vehicle. Personal accident cover for the owner-driver is also provided. Since commercial vehicles are driven by dedicated drivers, all-round coverage using a comprehensive policy is of great help.
● Coverage for different types of commercial vehicles
Bajaj Allianz’s electric commercial policy is available for more than one type of commercial vehicle. With electric cars used as taxis, electric autos used to ply passengers, and electric goods vehicles such as trucks used to ferry goods, this policy covers different types of vehicles.
For instance, if you run a business reliant on electric vans, you can opt for electric van insurance. Further, if your business owns specialised types of commercial EVs, you can even avail insurance coverage for them.
● Protection for driver and maintenance personnel
Commercial vehicles have dedicated personnel to drive and look after their maintenance in large organisations.
Along with repairs, the electric commercial vehicle insurance policy also covers the injuries to owner-drivers, other paid drivers, and maintenance professionals.
Other than the above benefits, some other noteworthy features are:
● Specialised EV 24x7 Assistance
● EV helpline
● Wall Box Charger Installation Assistance
● On-site charging
There are two types of electric commercial vehicle insurance policies you can buy:
Third-party commercial EV policies | Comprehensive commercial EV policies |
Electric commercial vehicle third-party insurance policies are those offering coverage for injuries to a third person or damage to their property. Hence, they are also popular as liability-only plans. Moreover, a third-party policy is the minimum requirement for a vehicle registered in the country. Thus, it needs to be bought by all vehicle owners. | Comprehensive policies are plans that not only offer mandatory third-party coverage but also provide protection against damages to the insured vehicle. Thus, these policies are comprehensive in nature, providing 360-degree coverage. |
A third-party policy has limited coverage for only legal liabilities. | Comprehensive policies provide an extra layer of financial cushion above the minimum mandated third-party coverage. |
Coverage for theft and damages due to natural causes is not available with a third-party policy. | A financial loss due to damages to the commercial EV due to theft and natural disasters is covered by a comprehensive commercial EV policy. |
Since it ensures the mandatory legal compliance, you need to get one if it fits your requirements. Click here to get a quote. | Comprehensive EV insurance will make sure your commercial EV has all-round coverage. Click here to get a quote. |
When your business includes electric vehicles, repairs are bound to take place. In fact, commercial EV insurance has some of the following noteworthy features that you should know about:
● An electric commercial vehicle insurance policy has coverage for public carriers (buses, autos, cabs), as well as private carriers (tempos, goods-carrying vehicles).
This also includes special types of goods-carrying vehicles.
● An electric commercial vehicle insurance plan provides liability coverage for the injuries and accidents sustained by third parties.
● With an electric vehicle policy by their side, the policyholder need not worry about unwanted expenses that may arise as the plan provides monetary compensation.
● Any financial setbacks due to liabilities incurred may not bother you when you have a robust commercial EV insurance cover.
● Coverage for not just third-party injuries, but also damages to the property of such third person.
● Besides the above, a personal accident cover safeguards the driver, as well as the owner.
Feature | Benefits offered by Bajaj Allianz’s EV Policy |
Quick purchase journey | Takes less than 3 minutes |
Claim Facility | Cashless claims |
Claim Settlement Ratio | 98% |
On-the-spot Settlement | Available through the Caringly Yours app |
Customer support | Round-the-clock 24-by-7 support |
Type of vehicles covered | Cabs and Taxis, Trucks, Lorries, Buses, Auto Rickshaws, School Vans, etc. |
Policy premium | Depends on the type of vehicle and the number of vehicles to be insured |
Additional coverage | Personal accident cover, third-party liability cover, compulsory deductibles, special exclusions, etc. |
Cover for damages to third parties | No limit for personal injuries; however, up to ₹7.5 lakhs for property or vehicle damage |
EVs registered since FY12
Manufacturing of electric vehicle as on date
expected EV sales by 2030
Approx electric vehicle are of two wheeler and 3 wheeler
The digital revolution in the country enables you to buy electric commercial vehicle insurance online. When you choose to make a digital purchase, these are a few soft copies of documents you need to keep in hand –
● Registration certificate of your commercial EV
● Tax receipts of your EV
● Bank details
● Route permit
These documents may differ among insurance companies. However, the vehicle’s identification and registration details, along with the policyholder’s identification details, are essential. These documents can be needed whether you buy electric commercial vehicle insurance online or via the traditional offline route.
Every insurance company has a specified list of documents essential to successfully raise a claim. These claims may even be required if you are raising a claim on your electric commercial vehicle insurance online. The following documents form a part of your insurance claim:
With the right steps at the right time, raising a claim with your insurance company is an easy process. The first step is to notify the insurance company of the loss or the damage on a timely basis.
If you have purchased the policy through an agent, you can even notify the agent.
Registration of the claim is also possible by calling up a toll-free number provided on your insurance document.
You can also write an email to the insurance company.
You can even fill out an online claim form for the same.
The process can be as easy as when you buy electric commercial vehicle insurance online.
When raising a claim, it is essential to provide accurate details of the following:
What you should do | What you shouldn’t do |
Make sure to click the accidental pictures of the vehicle. Ensure the pictures include the surroundings of the exact position of the vehicle. | Do not move the vehicle before clicking photographs as it may increase the damage in the case of an accident. |
In the event of a person getting injured due to the commercial EV, make sure to note the details of such person as well as the hospital where the treatment is sought. | Do not flee away from the location of the accident in case of third-party damages and injuries. Also, make sure to reach out to the nearest police station to register an FIR of the incident. |
An electric commercial vehicle insurance premium calculator is a nifty tool provided by insurance companies.
It is a facility which is provided free of charge, helping you estimate the premium of your insurance plan.
Using this premium calculator, you can make the choice of a plan, select suitable add-ons, set the right IDV, and evaluate the overall impact on your premium.
Moreover, you can also use an electric commercial vehicle insurance premium calculator to compare different policies to select one basis your requirements.
An electric commercial third-party vehicle insurance policy provides coverage against third-party liabilities in the event of an incident involving the insured car.
In case of damage to third-party vehicles and property, or harm to an individual, the policy helps the policyholder deal with the financial liabilities during such a scenario.
A comprehensive electric commercial vehicle insurance plan, on the other hand, covers third-party liabilities as well as damage to one’s own vehicle.
A comprehensive plan provides protection against damage due to natural disasters and manmade calamities.
You can also opt for riders, such as zero-depreciation add-on and consumables cover, under a comprehensive insurance policy.
Usually, commercial vehicles are categorised either as goods-carrying vehicles, such as trucks, or passenger-carrying vehicles, such as an electric cargo van.
Those commercial vehicles that do not fall under these two categories are termed miscellaneous and special vehicles.
These may include vehicles used for business, such as pick-up trucks, vehicles used at construction sites, and vehicles used for commercial farming purposes.
Yes, Bajaj Allianz Commercial Electric Vehicle Insurance covers electric vehicles of various kinds.
This includes those that come under the miscellaneous and specialised vehicles category.
Your commercial EV is crucial to running your business.
Hence, a well-designed electric commercial vehicle insurance policy can help ensure it stays in good shape throughout the year.
In the unfortunate event of an accident, you can reach out to us for immediate assistance. Our toll-free numbers are: - 1800-209-0144 | 1800-209-5858
If you are injured or have undergone harm in any way, please ensure you take care of that first.
If it is possible, ensure to take photographs as evidence of the accident to ease your claim process.
You can also raise a claim on your electric commercial vehicle insurance policy online through the Caringly Yours app.
If you are looking for cashless repairs, then you can get your commercial EV repaired at a network garage.
Bajaj Allianz has 7200+ network garages spread throughout the country.
Here, you can access cashless services under your electric commercial vehicle insurance policy.
You can also get the vehicle repaired at a garage of your preference that may not come under the network garages’ list.
You can then raise a reimbursement claim and receive compensation for the bills you incurred as per the policy’s scope.
A cashless claim is one where the commercial vehicle is repaired at a network garage affiliated with Bajaj Allianz.
Here, the policyholder does not have to bear heavy expenses nor claim reimbursement. Rather, we connect with the garage and take care of the expenses.
You will only have to manage out-of-pocket expenses.
A reimbursement claim, on the other hand, is carried out when the vehicle is repaired at a garage outside the network garages’ list.
After you have paid the bills for the repair, you can raise a claim and we will reimburse you the amount as per policy terms and conditions.
Ideally, the tenure of your electric commercial vehicle insurance policy is for a year. However, depending on the kind of policy you have purchased, the tenure may be valid for multiple years as well.
Long-term vehicle insurance policies can allow coverage for 3 to 5 years.
Once the tenure ends, you can opt for renewal of your electric commercial vehicle insurance online or offline depending on your preference.
Loading refers to the rise in a policyholder’s premium when the risk associated with the policyholder increases.
This may be due to a claim raised in the previous year, which may lead to an increase in the electric commercial vehicle insurance price during the renewal.
When selling your commercial EV, you can transfer your existing electric commercial vehicle insurance policy to the buyer as well.
This can be carried out via an endorsement.
Documents such as the sale deed, Form 29 and 30, NOC of the electric vehicle seller, and so on, may be required in the process.
So, to sell your electric van and transfer your electric van insurance policy, you should have an NOC from the seller you purchased the van from.
You also have the option to cancel the existing policy. A similar set of documents may be required for the process.
Yes, there are separate plans for fuel-powered vehicles and electric vehicles. This is because the workings of both types of vehicles are different.
The coverage of a regular vehicle insurance policy will differ from that of the coverage of an electric vehicle insurance policy. An electric commercial vehicle insurance policy will have coverage aspects specific to electric vehicles a regular policy may not have or not require.
For instance, insurance policies for commercial electric vehicles cover the installation of a wall-box for charging, towing facilities, on-site charging, and so on.
Policyholders can also make use of a special EV helpline for any assistance.
Common coverage aspects, such as protection against accidents and collisions, theft, fire, natural disasters, and so on, may be like that of a regular policy.
However, modifications might be present even here to suit the workings of an electric vehicle.
As per the Motor Vehicles Act of India of 1988, a vehicle plying on Indian roads must have at least a third-party insurance policy in place.
This policy provides protection against third-party liabilities that occur when the insured car is involved in an accident.
So, only electric commercial vehicle third-party insurance is mandatory.
If you are looking for all-around protection for your vehicle, then a comprehensive policy may be a better fit.
Besides covering third-party liabilities, it also provides coverage against a host of unfortunate events that can damage your vehicle and wreak havoc on your finances.
Even though a comprehensive policy may be optional as per law, it can be a useful purchase to protect your vehicle and your finances.
Here are a few reasons why the price of an electric commercial vehicle insurance policy may be higher than that of a regular policy:
However, higher electric vehicle insurance rates do not mean that owning and maintaining an electric vehicle is an expensive affair. Because of rising fuel prices, an electric vehicle can be a smart and cost-effective alternative in the long run.
Hybrid electric vehicles (HEVs) come under the electric vehicle category and are insured with an electric vehicle insurance policy.
Hybrid vehicles are essentially those vehicles which run on battery-powered energy as well as fuel-powered engines.
Plug-in Hybrid Electric Vehicles (PHEVs) are also to be insured under electric vehicle insurance policies.
Yes, there are various factors which can affect the premium of an electric commercial vehicle insurance policy, including the passenger-carrying capacity.
The reason this aspect matters is because a higher number of passengers can mean a higher amount of risk.
For instance, the premium of an electric autorickshaw insurance policy may be lower than that of an electric van insurance or bus, not considering other factors.
The goods present in the vehicle are not covered under the insurance policy for the vehicle.
A vehicle insurance policy provides coverage against damage to the vehicle and some parts only.
Depending on the policy, the owner-driver may receive coverage.
However, in case of damage to the goods in the vehicle, the insurer may not be deemed liable.
The 24x7 roadside assistance add-on helps policyholders stuck in emergency situations where they may not have access to a garage or a repair shop.
An electric vehicle may lose its charging or have some urgent repair requirement.
In such a situation, you can simply reach out to a Bajaj Allianz representative or customer support and assistance will be provided at the earliest.
A zero-depreciation add-on can be an effective way to ensure that you receive the maximum claim amount without consideration of the depreciation.
With each passing year, the value of the electric vehicle decreases.
This is due to the depreciation that occurs along with routine wear and tear.
When you raise a claim under your electric commercial vehicle insurance policy, the amount you receive is calculated after deducting the depreciation.
A zero-depreciation add-on helps the policyholder claim the entire amount they may have incurred due to damage to their vehicle.
Yes, we use safe payment gateways that ensure that your private information stays private. By choosing to make an online payment when you buy electric commercial vehicle insurance via the digital route, you can cut down on agent commission costs as well as save on time and energy.
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 -
(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...
Written By : Bajaj Allianz - Updated: 13th October 2023
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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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