E-Rickshaw Insurance
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All the e-rickshaw owners in India need to secure their commercial electric rickshaws from damages, theft, third-party liabilities and to comply with the law, which makes it necessary to have an e-rickshaw insurance policy in place.
So, here’s an e-rickshaw insurance guide to help electric rickshaw owners buy or renew the policy in a hassle-free manner.
An e-rickshaw insurance is a type of commercial vehicle insurance policy that serves as a protection for electric three-wheelers against any unforeseen damage or loss resulting from accidents, theft, natural calamities, etc.
In India, it is mandatory by law to have at least have a third-party e-rickshaw insurance policy. However, for added protection, you can get comprehensive e-rickshaw insurance or Own Damage plan as well.
You can avail yourself of the e-rickshaw insurance online policy at an affordable and customized premium at Digit Insurance.
Yes, as per the Motor Vehicles Act, it is compulsory for all vehicles driving on Indian roads to have at least an active Liability Only Policy in place that covers damages caused to third parties by your electric rickshaw. Without this, you would have to pay a penalty and can even be jailed.
However, if you have a business using multiple e-rickshaws or if you use e-rickshaw as a primary source of income then you should go for Standard Package Policy, as it covers damages caused to your own vehicle and the owner-driver in addition to third-party liabilities.
An electric auto rickshaw insurance policy is needed because of the reasons listed below:
It is mandatory for all e-rickshaw owners and for businesses that own e-rickshaws to buy a Third-party Liability Only Policy as per law as it covers the business financially if the vehicle suffers damage or causes damage to a third-party vehicle, property, or person.
E-rickshaw insurance also helps the vehicle owner against any losses due to factors like accidents, thefts, fires, terrorist activities, natural calamities, and other unforeseen circumstances.
Having a policy ensures that you don’t face any unplanned losses or downtime.
An e-rickshaw insurance also assures that your customers/passengers that you’re a responsible business and are serious about your work.
We treat our customers like VIPs, know how…
An e-rickshaw insurance policy offered by Digit covers the following:
Now that you know what’s covered under the policy, let us look at what is not covered under Digit’s electric rickshaw insurance policy.
Digit offers the following 8 add-ons with the e-rickshaw insurance policy to provide enhanced protection for passenger carrying vehicles. Choose the ones most suitable for you to get better coverage.
Digit also offers optional covers for electric 3-wheeler insurance, which provide enhanced coverage to protect in all circumstances, including:
Damages caused by your e-rickshaw to any third-party person or property |
✔
|
✔
|
Damages caused by your e-rickshaw to a third-party vehicle |
✔
|
✔
|
Loss or damages to your own electric rickshaw due to natural calamities, fire, theft or accidents |
×
|
✔
|
If the owner-driver of e-rickshaw doesn’t already have a Personal Accident cover in his name |
✔
|
✔
|
Here is the e-rickshaw insurance price list for third party plans in India. These prices are fixed by the IRDAI in 2024 for electric three-wheeler vehicles carrying passengers, with a capacity of up to six passengers.
On the Digit app or website, enter your electric 3-wheeler's registration number, mobile number, and click on ‘View Prices.’
Select the plan, add-ons and IDV, and click on ‘Continue.’
Enter your personal, nominee and vehicle details and click on ‘Pay Now.’
Complete the payment and mandatory KYC verification process.
You’re done! You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.
To get electric three-wheeler insurance online from Digit, keep these documents handy:
Vehicle Registration Certificate (RC)
Previous year commercial vehicle insurance policy, if applicable
Any document among these for KYC verification - PAN/Aadhar/DL/Voter id/Form 16/Passport
To file a claim against e-rickshaw insurance online, follow these steps:
Inform your insurer as soon as possible by calling Digit on 1800-258-5956 or dropping an email at hello@godigit.com.
Keep your details handy such as policy number, location of the accident, date and time of the accident, and contact number of the insured/caller to make the process easier.
Present the required documents required to file the claim and wait for the insurers to verify the details. Upon verifying, your claim will be processed.
Go to Digit App or website and click on the ‘My Policy’ tab.
Select the policy pending for tractor insurance renewal and click on ‘Renew Policy.’
Now select the plan, IDV, add-ons and confirm the details, then click on ‘Pay Now.’
You’re done! You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.
To download your renewed or already active e-rickshaw commercial insurance policy with Digit, follow the given steps:
Step 1 - On the Digit app, go to the ‘My Policies’ tab at the bottom. All your current active policies will be displayed.
Step 2 – Choose the policy for which you want to download the document. Check the details and then click on ‘Download Policy’. Your electric three-wheeler insurance policy document will be downloaded.
Check these factors before buying e-rickshaw policy online as these will affect your e-rickshaw insurance price:
Model, Engine & Make of the Vehicle: The e-rickshaw insurance premium amount is largely determined by its make and model. So, check your electric rickshaw’s model and make, type of fuel, its manufacturing year, and other additional features to get an idea of the premium price.
Location: The place you register and choose to ride your e-rickshaw also affects the insurance premium. For example, if you drive in metropolitan cities with a lot of traffic and accident rates, you would be charged a higher premium, as compared to safer and smaller cities.
No-Claim Bonus: If you already have an insurance policy and want to do e-rickshaw insurance renewal online, then check your NCB (No Claim Bonus) before doing so. You might get your premium at a discounted rate if you haven’t filed a single claim in the previous policy term.
Type of Insurance Plan: The type of e-rickshaw insurance plan you opt for also determines its premium amount. A third-party policy is the most basic and affordable one, while the comprehensive policy will charge you more premium depending on various factors.
Here is a list of the most popular electric three-wheelers in India in 2024:
Disclaimer: All the above prices are ex-showroom prices in Delhi and may differ in other cities.
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