Auto Rickshaw Insurance

If you or your organization owns auto-rickshaws, it is mandatory by law to at least buy a Liability Only Policy in place. This will financially cover you and your business in case your three-wheeler causes damage and losses to third-party property, person or vehicle.

If you use your auto rickshaw as a primary part of your business, it’s advised to purchase a standard or comprehensive package policy as it will protect your auto and the owner-driver from any losses caused due to natural calamities, accidents, terrorist activities, fires, thefts and malicious acts, among other unforeseen circumstances.

An auto-rickshaw that comes with valid 3-wheeler insurance also assures your customers/passengers that you’re a responsible business and are serious about your work.

An insured auto-rickshaw ensures your business doesn’t face any unplanned losses or downtime, which means you can instead spend your money and time on other aspects of your business.

In the case of a Third-Party Liability Only Policy, damages to own vehicle won’t be covered.

If the owner-driver of the insured auto-rickshaw is drunk or driving without a valid license

Any damage caused due to a contributory negligence of the owner-driver (such as driving when there’s an existing flood)

Consequential damages is any damage that is not a direct result of the accident/natural calamity etc.

Some situations are covered in add-ons. If you haven’t bought those add-ons, the corresponding situations will not be covered.

If your three-wheeler suffers a total loss/constructive loss or is stolen, you will be compensated the amount or a new auto at the prevailing ex-showroom price, under return to invoice cover. The new 3-wheeler will be the same make, model, and variant. If it is discontinued the Company’s Liability will be limited to the difference between the last available ex-showroom price and claim payable under OD section of the Base Policy. 

A consumable add-on covers the cost for your auto rickshaw’s bits and pieces, like the nuts and bolts, screws, engine oil, and grease in case of an accident.

This add-on ensures that the depreciation amount on your auto rickshaw and its parts over time is not deducted at the time of claim.

This add-on will help cover any consequential damage caused to your commercial vehicle’s engine or gearbox after the accident, probably due to water regression or leakage of lubricating oil.

In case you face a breakdown of your auto rickshaw on the road - due to an accident, flat tires, malfunctioning battery, or other factors, this breakdown assistance add-on will assist you 24x7. 

In instances where your rickshaw’s lockset needs to be replaced or the keys are lost, the key and lock replacement cover compensates you for the cost incurred to get the locks and keys replaced, installing a new lock set etc., in the insured three-wheeler.

This add-on helps to compensate you for any loss of income that could occur while your auto rickshaw or commercial vehicle is not available when it’s being repaired due to damage.

When your vehicle is in an accident, it will need to be towed to a garage to be repaired. Under this add-on, we will cover additional expenses that you might have while your vehicle is being moved from the spot of accident to the nearest garage or place of safety.

If your vehicle is taken on a loan and is damaged by an accident, and it’s sitting in a garage for repair that might mean a loss for your business. Through this add-on, you will be paid regular EMIs payable to the financier of the vehicle recorded in our books.

Having a personal accident cover is mandatory by law so if you don’t already have it, add it with your three-wheeler insurance policy plan. This covers you for bodily injury or death of the owner-driver in case of an accident.

Since auto rickshaws are passenger carrying commercial vehicles, having this cover becomes important to protect the passengers in the vehicle in an unforeseen accident.

By opting for this cover, your three-wheeler business is protected against any legal liability that may arise due to an injury caused to your employees or someone who works for you.

This cover helps cover for losses or damage to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork in all cases, even if the auto rickshaw is partially damaged.

This will cover any electrical accessories fitted in your auto rickshaw their vehicle, which is not a part of the manufacturer’s model.

In case of any non-electrical accessories fitted in your three-wheeler, which is not a part of the manufacturer’s model, get this cover to protect those accessories against any damage and loss.

With this cover, if you face any loss, you have to pay a certain amount as your share of the loss, called the compulsory deductible that helps reduce your premium. This will also cover the loss or damage to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork if your vehicle is completely damaged.