Auto Rickshaw Insurance
Buy/Renew Commercial Auto Rickshaw / E-Rickshaw Insurance Policy Online
Auto Rickshaws drive on the roads throughout the day and hence are subjected to a higher risk of getting into an accident. Thus, it is highly recommended for auto rickshaw owners to get their vehicle insured. Auto-rickshaw insurance provides financial coverage against the damages incurred to you, your vehicle, or the third party in an accident. There are namely two types of insurance policies available in the market today, a third-party auto rickshaw insurance and a comprehensive auto rickshaw insurance policy.
A commercial auto rickshaw insurance plan provides you financial coverage against the damages that may incur to you, your vehicle, or the third party in an accident. It covers you against damages caused due to many different reasons such as natural calamities, man-made disasters, etc.
There are multiple insurance providers present in the market today, however, all of them typically only provide two types of commercial auto rickshaw insurance plans, namely -
A third-party auto rickshaw insurance plan only provides you financial coverage against damages that have been incurred to a third party during the accident and are found to be your fault. They also give you financial coverage against the legal case that the third party may put against you for being at fault and causing a lot of damage.
A comprehensive auto rickshaw insurance policy gives you an extended form of coverage. It not only protects you financially from third-party damages but also for the damages that are incurred to you and your vehicle. This type of policy also covers you against the damages incurred to your vehicle due to any natural or man-made disasters. You even get to include various add-ons in your comprehensive auto rickshaw insurance policy and thus, receive wider coverage for your vehicle.
There are plenty of benefits of choosing IFFCO-Tokio as your insurer, such as -
We have more than 4300 partnered garages all over the country. This allows you to conveniently make cashless claims for your insured geographical area.
IFFCO-Tokio has settled around 11.48 lakh claims in the financial year 2021. Due to this, we have a splendid claim settlement ratio of 95.82%.
We have served in the insurance industry for more than 20 years now. Due to this, we have gained an enriched experience in handling different situations and are thus able to help you raise and settle your claims without any extra hassle.
We understand the importance of quick claim settlements and thus provide a dedicated mobile application for the same. You can make use of the IFFCO-Tokio's mobile app and get to raise and settle small insurance claims with just a few clicks.
Accidents are predictable and can happen at any time. Thus, we take customer support quite seriously and consequently, provide 24/7 customer service. Our representatives can help you throughout the claim settlement process quite efficiently.
A comprehensive auto rickshaw insurance policy provides an extensive form of coverage for your vehicle. To know about the various inclusions, read on -
With the comprehensive auto rickshaw insurance policy, you can get compensation for the damages caused to your vehicle due natural disasters such as cyclones, earthquakes, floods, etc.
The comprehensive auto rickshaw insurance policy provides financial cover to your vehicle from damages that could be caused by life-threatening disasters such as riots, violent protests, etc.
In the event your vehicle gets damaged due to a fire, the comprehensive auto rickshaw insurance policy will compensate for the damages and also for the towing charges incurred
Financial and legal liabilities related to the third-party are covered by the comprehensive auto rickshaw insurance policy.
With the comprehensive auto rickshaw insurance policy, you can include a variety of add-ons for extended coverage from damages that could be caused to your vehicle.
There are numerous factors that affect the premium you need to pay for your insurance policy, such as -
The CC of your vehicle is directly proportional to the premium you pay for your commercial auto rickshaw insurance plan. Implying, the higher is the cubic capacity of your vehicle, the higher is the premium of your commercial auto rickshaw insurance plan.
This is one of the most important factors that affect the premium of your commercial auto rickshaw insurance plan. Being a safe driver allows you to pay a lower premium for your insurance policy while being a rash driver and frequently getting into accidents compels you to pay a higher premium for your commercial auto rickshaw insurance plan.
If you chose to buy a third-party auto rickshaw insurance policy, you get to pay a lower premium when compared to getting a comprehensive auto rickshaw insurance policy. However, with the inclusion of add-ons and the coverage provided, a comprehensive auto rickshaw insurance policy is better preferred.
If you use your auto-rickshaw for smaller commutes, the premium you pay for your commercial auto rickshaw insurance plan is lower. However, the premium rises if you use your vehicle for long commutes as it causes the auto-rickshaw to be susceptible to accidents.
If you live in an area where thefts, riots, etc. are common, the premium of your commercial auto rickshaw insurance policy also increases. On the other hand, residing in an area where such instances are not common helps you lower the premium you pay for your commercial auto rickshaw insurance plan.
There are a number of add-ons that you can choose from for your comprehensive auto rickshaw insurance policy, namely -
Every vehicle depreciates in value over time with usage. The same is applicable to your auto-rickshaw as well. This reduces the IDV that the insurer offers you and thus compels you to pay for a portion of the expenses from your own pocket. However, to avoid this, you can get the zero depreciation cover and get the insurer to[MM1] provide you the full claim amount without considering the depreciation costs of the same.
As your auto-rickshaw is always on the road carrying one passenger or the other, it is subjected to higher wear and tear as compared to the other vehicles. Due to this, it has a higher tendency of breaking down at faraway places. To be prepared for such situations, you can get the roadside assistance add-on and get the insurer to send a repairman to help you in such tight situations.
No Claim Bonus is the discount given to you by the insurer for not raising any claims throughout the insured year. However, accidents can befall anytime and one might need to raise a claim to get their vehicle fixed. This results in you losing all the accumulated NCB. Nonetheless, you can get the NCB protect add-on and make an insurance claim without losing the accumulated discount.
If your vehicle is deemed as a total loss due to natural or man-made calamities, with this rider you can get compensation for the same that equals the invoice value of your vehicle.
This is extremely beneficial if you live in an area that is prone to such unprecedented events.
You can visit any IFFCO-Tokio branch that is near to your location and get the assistance you need to get the right coverage for your vehicle. However, if you have a tight schedule and wish to save time, effort, and money, you can conveniently follow the steps stated below and buy your insurance policy online with just a few clicks -
The very first step is to create an account on our website and sign in to the same. If you already have an account, log in to your account and visit the auto-rickshaw insurance page.
As mentioned above, there are typically two types of commercial auto rickshaw insurance plans available. Select the one that suits your coverage needs and press on 'next'.
There are various add-ons that you can choose from if you opt to buy a comprehensive auto rickshaw insurance policy. Select the ones you prefer and click on ‘next’.
Once you have entered all the details, selected the insurance coverage you desire and included your preferred add-ons, the next step is to complete the payment procedure. Once you make the payment through our online payment portal, the soft copy of the insurance policy will be emailed to you instantly.
