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Wardwizard Innovations & Mobility Limited is a company that manufactures electric bikes under the brand name Joy e-Bike. The company has partnered with Bajaj Allianz to offer electric two-wheeler insurance policies to Joy e-Bike customers.
Speaking of the new partnership, Yatin Gupte, Chairman and Managing Director, Wardwizard Group said, "We are happy to announce this association. We can now offer our customers more support and make them believe in our products even more. While insurance on electric vehicles in the two-wheeler category is not mandatory in India, the risks associated with them are limited and hence 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."
So now let us talk a little about the Policy. It consists of a five year (one + four) years plan. The first year covers the entire vehicle with zero depreciation and the rest four years covers TPT (Third Party Insurance). So, with this policy, the customer will get a total of five years for third party insurance coverage. Apart from that, customers will also get a coverage of Rs 15 lakh 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 company listed on BSE under the electric vehicle category. The latest product line-up of Joy e-bike consists of four new high-speed e-bikes: Hurricane, Thunderbolt, Skyline and Beast. Joy e-Bike recently revealed the prices of the EV in the Indian market, which is Rs. 2.29 lakh.
So a little backstory about Wardwizard, the company entered the market back in 2019. It introduced two low-speed models: Nanu E-Scooter Honeybee and Nanu E-Scooter Butterfly in the country. And at the current situation, Joy e-bike has a total of eight models on offer. This includes 4 high-speed offerings that we mentioned above.
Thoughts About The Tie-Up Between Wardwizard Innovations & Mobility & Bajaj Allianz To Offer Insurance Policies To Joy e-Bike Customers
These days insurance has become really necessary, whether it be a person or an asset. In the last few years, the prices of the insurance have gone up rapidly and through this tie-up, customers will be able to avail benefits of a total of 5 years for TPT coverage, coverage of Rs 15 lakh for their insurance and also get RCA (Roadside Assistance) coverage for the first year.