Compare E Rickshaw Insurance Price & Buy Policy
E rickshaw insurance is a type of commercial vehicle insurance policy which provide coverage to electric rickshaw against the losses arising out of an accident, theft, fire, natural disaster or any such unfortunate incidents. It is mandatory by law in India to have at least third party insurance coverage for e rickshaw at all times.
E rickshaw insurance price
E rickshaw insurance price for a third party policy with driver accidental cover is ₹4909 plus GST for e-rickshaw with 4 passengers sitting capacity.
Why do one need e rickshaw insurance?
- If you or your organization owns e rickshaws, you are required by law to have a Liability Only Policy in place. This will financially protect you and your company if your e rickshaw (s) causes damage or loss to third-party property, person, or vehicle.
- If you use your e rickshaw as a primary part of your business, it is recommended that you purchase a third-party or comprehensive insurance policy to protect your vehicle and the owner/driver from losses caused by natural disasters, accidents, terrorist activities, fires, thefts, and malicious acts, among other unexpected events.
- An e rickshaw with proper insurance also assures your customers/passengers that you are a responsible individual/organization that takes your work seriously.
- An insured e rickshaw guarantees that your business does not suffer any unforeseen losses or downtime, allowing you to focus your money and attention on other aspects of your business.
What is covered in an e rickshaw insurance policy?
ACCIDENTS
Partial or total loss of the vehicle to or by an e rickshaw at the time of any accident.
THEFT
Loss of e rickshaw due to theft is covered in e rickshaw insurance policy.
FIRE
Partial damages to e rickshaw or total loss because of fire hazards.
THIRD PARTY LIABILITIES
Third party property damages are covered up to 7.5 lac and injuries/deaths of third parties are covered by unlimited amount.
NATURAL DISASTERS
E rickshaw insurance protects insured from losses arising out from damages to e rickshaw by any natural disaster such as floods, storms, lightning and such.
E rickshaw insurance price list
Third party insurance depends on the sitting capacity of this vehicle. Here is the price list of top e rickshaw in India.
| E rickshaw model | Insurance cost |
| Mahindra E alfa | 3890 |
| Atul Elite plus | 4103 |
| Piaggio Ape E city | 4701 |
| Mayuri | 4909 |
| Yatri | 5105 |
Key Features
| Key feature | Benefit | |
| Damages to third parties | TPPD cover up to 7.5 lac & Unlimited for liabilities. | |
| Accidental Coverage | Driver and liability cover, Own Damage. | |
| Theft Coverage | Included in comprehensive policy. | |
| Models Covered | Mahindra E alfa, Atul E rickshaws, Piaggio Rickshaw, Baja Rickshaw, Yatri. | |
| Premium | 3890 for third party |
Types of e rickshaw insurance
There are two different kinds of E rickshaws insurance available, as listed below.
- Third-Party E rickshaw Insurance- A third-party commercial vehicle insurance policy covers losses or damages caused by the insured vehicle to third-party property or people. So, with an E Rickshaw policy, one receives financial protection against third-party liability. The Motor Vehicle Act of 1988 requires commercial vehicles to be insured with at least a third-party insurance coverage. As a result, this is legally mandated insurance.
- Comprehensive Insurance- Purchasing a comprehensive insurance policy for commercial vehicles like E Rickshaw is also an option. It is intended to offer insurance coverage to the insured vehicle in the event of any loss or damage caused by an accident, mishap, natural catastrophe, or other occurrences. A comprehensive insurance policy also covers third-party liabilities in addition to covering own harm.
How to buy/renew e rickshaw insurance online
STEP 1. PROVIDE DETAILS
Share information such as RTO information, details of manufacturing, type of insurance policy like comprehensive or third-party insurance, details related to the claim, etc. to our executive on Policymeter.com.
STEP 2. QUOTES
Now you can get and compare E rickshaw policy coverage quotes online.
STEP 3. FINALISING THE POLICY
Select the quote that meets your need and buy online. You you take the help of our expert as per you convenience.
STEP 4. MAKE PAYMENT AND DOWNLOAD POLICY
Our expert will share you the proposal from your selected insurer for e rickshaw insurance where you can make payment online and download policy instantly.
How to file for a claim?
In case you need to file a claim for your e rickshaw, the following steps are to be followed:-
- First, inform the insurer of the incident at the earliest opportunity, you can inform the insurer by contacting them via a toll-free number, which is generally included on all policy copies, or you can likewise contact them through email.
- Fill out the claim form, which is accessible on all insurer websites.
- The insured has to fix an appointment with the insurer’s authentic surveyor. After completion of the survey, the e rickshaw should be taken to one of the network workshops of the insurer for repair.
- The insured has to give all the necessary documents to the surveyor.
- The insurance company can confirm the liability only after this.
Documents required to initiate the claim
- Copy of Registration Certificate (RC) of e rickshaw
- Original loss estimate
- Original repair bill or invoice
- Repair bill payment receipt
- Police FIR (in case of third party liabilities)
- Vehicle’s keys (in case of theft)
- Non-traceable certificate (in case of theft)
FAQs
IS IT NECESSARY TO BUY AN E RICKSHAW POLICY?
Yes, Insurance is mandatory for battery-powered vehicles carrying up to six people, according to India’s Insurance Regulatory and Development Authority. So, if you own an e rickshaw, you must insure it.
DOES E RICKSHAW POLICY ALSO COVER FOR THE DRIVER?
Yes, e rickshaw policy covers both the e rickshaw and the owner/driver.
ARE PASSENGERS ALSO COVERED UNDER E RICKSHAW INSURANCE?
Passengers are considered third parties and are thus covered by both the third party insurance policy and the comprehensive insurance policy.
WHICH IS THE BEST E RICKSHAW POLICY?
Comprehensive polcy is best for e rickshaws since it covers third-party damages, injuries, fatalities, and partial or whole losses to your e rickshaw in the case of an accident, fire, theft, or damage caused by any external source.
HOW GET THE E RICKSHAW REPAIRED IN CASE OF AN ACCIDENT?
The policyholder must schedule an appointment with the insurance company’s authorized surveyor via contacting them. After the survey, the e-rickshaw is brought to any of the insurance provider’s network workshops for repair. However, if one avails the reimbursement, then he/she has to settle the claim’s cost first by self. Later, he or she must need to submit all original bills, together with the claim form, to the insurer for claim settlement.
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