Speaking about the new partnership, Yatin Gupte, President and CEO of Wardwizard Group, said:
“We are happy to announce this association. We can now offer more support to our customers and make them believe even more in our products. If insurance on electric vehicles in the two-wheeler category is not compulsory in India, the risks associated with it are limited and therefore insuring e-bikes is not expensive.The costs outweigh the benefits, and with tie-ups like this between Wardwizard Group and Bajaj Allianz, customers can expect to get some of the best deals in the country.
Now let’s talk a bit about politics. It consists of a five-year (one + four) year plan. The first year covers the whole vehicle without depreciation and the other four years cover the TPT (Third Party Insurance). So, with this policy, the customer will enjoy a total of five years for liability insurance coverage. Apart from this, customers will also get Rs 15 lakh coverage for their insurance. Not only that, but customers will also get RCA (roadside assistance) coverage for the first year.
Wardwizard Innovations & Mobility was the first-ever BSE-listed company in the electric vehicle category. The latest Joy e-bike product line consists of four new high-speed e-bikes: Hurricane, Thunderbolt, Skyline and Beast. Joy e-Bike recently revealed the pricing of the EV in the Indian market, namely Rs. 2.29 million.
So, a little story about Wardwizard, the company entered the market in 2019. It introduced two low-speed models: Nanu E-Scooter Honeybee and Nanu E-Scooter Butterfly in the country. And in the current situation, Joy e-bike offers a total of eight models. This includes 4 broadband offers we mentioned above.
Thoughts on the combination of Wardwizard Innovations & Mobility and Bajaj Allianz to offer insurance policies to Joy e-Bike customers
Nowadays, insurance has become really necessary, whether it concerns a person or property. Over the past few years, the prices of insurance have been rising rapidly and with this tie-up, customers will be able to enjoy benefits of a total of 5 years for TPT cover, Rs 15 lakh cover for their insurance and also get RCA Coverage (roadside assistance) for the first year.