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What Is Auto Rickshaw Insurance

Auto rickshaw is like a mini, three wheeled taxi. People use it to travel short distances only. Especially in places like India and southeast Asia.

Auto rickshaw insurance is a type of commercial vehicle insurance designed to protect three-wheelers in India. It provides financial coverage for damages or losses that the driver or owner may face due to accidents, fires, natural disasters, or other incidents.  

Why Should I Buy Auto Rickshaw Insurance?

Auto rickshaw is like a mini, three wheeled taxi. People use it to travel short distances only. Especially in places like India and southeast Asia.

Auto rickshaw insurance is a type of commercial vehicle insurance designed to protect three-wheelers in India. It provides financial coverage for damages or losses that the driver or owner may face due to accidents, fires, natural disasters, or other incidents.  

Why Choose Auto Rickshaw Insurance by Bima Renew?

Choosing the right insurance company depends on your specific needs and priorities. Here are some general reasons why you might prefer one company:

  • Coverage: The amount of protection the insurance provides.
  • Customer service: How helpful and responsive the company’s customer support is.
  • Reputation: The company’s track record for paying claims and overall reliability.
  • Convenience: How easy it is to buy, manage, and file claims with the company.

Comprehensive Coverage

Bima Renew provides extensive coverage that includes protection against accidents, theft, natural disasters, and third-party liabilities. This ensures all-round security for your auto rickshaw and your business.

Hassle-Free Claims Processing

Bima Renew is known for its streamlined and efficient claims processing system. This means that in the event of an incident, you can expect quick and smooth claim settlements, minimizing downtime and financial strain.

Competitive Premiums

Bima Renew offers competitive premium rates, making their insurance plans cost-effective without compromising on coverage. This helps in managing operational costs while ensuring adequate protection.

Customer-Centric Support

With a customer-centric approach, Bima Renew provides prompt assistance and support, especially during emergencies. Their dedicated customer service ensures that you receive timely help and guidance whenever needed.

Customized Solutions

Bima Renew understands the unique requirements of auto rickshaw owners. They offer customized insurance solutions that can be tailored to fit specific business needs, providing flexibility and comprehensive protection.

What's Covered in Auto Rickshaw Insurance?

Third Party Liability

This covers damages and injuries caused to third parties, including pedestrians, passengers in other vehicles, or property owners affected by accidents involving your auto rickshaw.

Own Damage

Auto Rickshaw Insurance covers the repair or replacement costs for damages to your vehicle resulting from accidents, collisions, or natural disasters such as floods, earthquakes, or storms.

Theft

If your auto rickshaw is stolen, the insurance policy will reimburse you for the value of the vehicle up to the insured amount, helping you recover from financial losses due to theft.

Personal Accident Cover for Driver and Passengers

In case of an accident leading to accidental death or disability of the driver, the insurance provides compensation to cover medical expenses or provide financial support to the driver or their family.

What's Not Covered in Auto Rickshaw Insurance?

Wear and Tear

Normal wear and tear of the auto rickshaw over time, including depreciation and aging of parts, is generally not covered by insurance.

Mechanical or Electrical Breakdowns

osses or damages indirectly caused by the insured event, such as loss of income due to the vehicle being out of service, are usually not covered.

Consequential Losses

Indirect losses such as loss of income due to the taxi being out of service are not covered.

Driving Under Influence:

Any damages or accidents that occur while the driver is under the influence of alcohol or drugs are not covered by auto rickshaw insurance.

Non-Compliance with Legal Regulations

If the auto rickshaw is being operated illegally, for example, without a valid license or permit, insurance coverage may be voided for incidents occurring during such times.

Key Features of Auto Rickshaw Insurance by Bima Renew

Quick Claim Settlement

Bima Renew ensures swift and efficient processing of claims, minimizing downtime and ensuring that you receive prompt financial assistance in the event of an accident or loss.

Cashless Repairs at Network Garages

Bima Renew provides the convenience of cashless repairs at a wide network of authorized garages. This feature saves you from the hassle of arranging for immediate cash payments during repairs and ensures quality service.

24/7 Customer Support

With round-the-clock customer support, Bima Renew offers immediate assistance and guidance, ensuring that you can reach out for help or information at any time, day or night.

Optional Add-Ons

Bima Renew offers additional optional add-ons that allow you to customize your insurance coverage according to your specific needs. These add-ons may include benefits such as roadside assistance, zero depreciation cover, engine protection, or coverage for accessories.

Types of Auto Rickshaw Insurance Plans

Bima Renew offers diverse Auto Rickshaw Insurance plans tailored to meet different needs and levels of protection:

  • Third-Party Insurance: This is mandatory under the Motor Vehicles Act of 1988 and covers the losses or damages incurred by a third party in case of an accident caused by the insured vehicle.   
  • Comprehensive Insurance: This provides broader coverage, including protection for the insured vehicle itself, in addition to third-party liability. It can cover damages from accidents, theft, fire, natural calamities, and more
  • Personal Accident Cover for Passengers: This optional add-on provides compensation in case of accidental death or disability of passengers traveling in the auto rickshaw during an accident. It extends personal injury protection beyond the driver to include passengers, enhancing overall safety and financial security for everyone involved.

Why is it Important Buy/Renew Auto Rickshaw Insurance?

Renewing Auto Rickshaw Insurance ensures continuous protection against unforeseen events, legal liabilities, and financial losses, thereby safeguarding your business and livelihood.

Do I Have to Buy Auto Rickshaw Insurance for my Business?

Yes, purchasing Auto Rickshaw Insurance is mandatory as per legal requirements. It protects your business from legal and financial liabilities arising from accidents or damages involving your auto rickshaw.

How to Choose the Best Auto Rickshaw Insurance for my Business?

Consider the following factors:

  • Coverage options: Choose between third-party liability or comprehensive coverage.
  • Premiums: Compare premiums and benefits offered by different insurers.
  • Claim settlement process: Opt for insurers known for quick and efficient claim settlements.

In addition to standard coverage options, Bima Renew provides various add-ons that can be tailored to enhance your Auto Rickshaw Insurance policy. These optional coverages offer additional layers of protection and peace of mind, depending on your specific needs and preferences:

  1. Roadside Assistance: Provides support in case of breakdowns or emergencies on the road, offering services such as towing, battery jump-start, flat tire change, and fuel delivery.
  2. Engine Protection: Covers repair costs or replacement of the engine components in case of damage due to accidents or mechanical failures.
  3. Zero Depreciation Cover: Ensures that you receive the full claim amount without deducting depreciation on the value of replaced parts during repairs after an accident.
  4. Accessories Cover: Extends coverage to include accessories fitted in the auto rickshaw, such as GPS devices, music systems, or other enhancements, against theft or damage.
  5. Medical Expenses: Covers medical costs for injuries sustained by you or passengers in the auto rickshaw during an accident, providing financial support for necessary medical treatment.
  6. Personal Belongings Cover: Protects personal belongings kept in the auto rickshaw against theft or damage, including items such as mobile phones, laptops, or other valuables.

How To Cliam?

Unexpected events happen on the road, and when they involve your commercial vehicle, downtime can be a major financial setback. BimaRenew understands the critical role your vehicle plays in your business. That’s why we offer a streamlined claims process to get you back on the road quickly and minimize disruption.

What We Cover:

  • Accidents: Collisions with other vehicles or objects, rollovers, and hit-and-run incidents.
  • Theft: Partial or complete theft of your vehicle.
  • Vandalism: Damage caused by vandalism or malicious acts.
  • Fire & Explosion: Damage caused by fire, lightning, or explosion.
  • Natural Disasters: Damage caused by floods, hail, storms, or other natural disasters (refer to your policy wording for specifics).

Fast and Hassle-Free Claims Process:

  • Report the Incident: Always contact the police immediately to file a report in case of an accident or theft. This report is crucial for your claim.
  • File Your Claim: We offer two convenient ways to file your claim:
  • Online: Submit your claim details and photos of the damage through our secure online portal (link to online claim form). This is the fastest and easiest way to initiate your claim.
  • Offline: Download the claim form (link to claim form) and submit it along with the required documents (listed below) to your nearest BimaRenew partner branch office. 

Required Documents:​

  • Completed and Signed Claim Form: Ensure all details are accurate and the form is signed by an authorized representative of your company.
    • Registration Certificate (RC) photocopy: A clear copy of your vehicle’s Registration Certificate is mandatory.
    • Driver’s License photocopy: Provide a photocopy of the valid driving license of the driver involved in the incident.
    • Valid Fitness Certificate photocopy: A copy of your vehicle’s most recent fitness certificate is required.
    • Police Report (FIR): In case of accidents involving third-party injury/death or property damage, a copy of the FIR is essential.
    • Dedicated Claims Representative: Once you file your claim, a dedicated claims representative from BimaRenew will contact you to discuss your claim details and guide you through the next steps. This includes arranging for repairs (if applicable) and ensuring a smooth claims settlement process.

For any other inquiries, kindly call us at +91-85279 47284 or mail us at Support@bimarenew.com.

Frequently Asked Questions

Yes, Auto Rickshaw Insurance is mandatory in most regions to legally operate your vehicle on public roads. It protects you from financial liabilities and ensures compliance with regulatory requirements.
Auto Rickshaw Insurance typically covers: >Third-party liability (damage to third-party property or injury/death to third parties). >Own damage (damage to your auto rickshaw due to accidents, theft, natural disasters). >Theft of the auto rickshaw. >Personal accident cover for the driver.
Bima Renew offers: >Comprehensive coverage tailored for auto rickshaws. >Quick claim settlement process. >24/7 customer support. >Cashless repair at network garages. >Optional add-ons for enhanced coverage.
To make a claim: >Contact Bima Renew immediately after the incident. >Fill out a claim form and provide necessary documents (like FIR in case of theft or accident). >Follow instructions from Bima Renew’s claims team for assessment and processing.
Factors to consider include: >Coverage options (third-party liability, comprehensive, add-ons). >Premium costs and payment options. >Claim settlement process and customer service reputation. >Additional benefits and features like roadside assistance or zero depreciation cover.