Everything You Should Know About Auto Rickshaw Insurance Policy

Published on 18-Apr-2023

In India, auto rickshaws are a common sight on the roads, providing an affordable mode of transportation for millions of people. While these vehicles are relatively inexpensive, they are still a significant investment for their owners. This is why it is essential for auto rickshaw drivers to have auto rickshaw insurance to protect their investments and themselves.
Importance of Insurance For Auto Rickshaw?
Auto rickshaw insurance is a type of insurance policy designed for auto rickshaw owners to protect themselves from financial losses in the event of an accident, theft, or damage to their vehicle. In fact, they may even be more susceptible to these risks due to their smaller size and exposure to traffic.

Therefore, having adequate insurance coverage is crucial for auto rickshaw drivers to protect themselves financially and legally. Insurance policies for Auto rickshaws are similar to other vehicle insurance policies, but they have certain unique features and benefits that are specific to this type of vehicle.

Auto rickshaw insurance provides coverage for the following scenarios:?

Accidents: Auto rickshaws can be involved in accidents due to various reasons such as driver error, road conditions, or other drivers' actions. In such cases, insurance can cover the cost of repairs or replacement of the vehicle, medical expenses for the driver and passengers, and liability for third-party damages.

Theft: Auto rickshaws are often targeted by thieves due to their small size and ease of stealing. Auto rickshaw insurance can cover the cost of replacing the stolen vehicle and any damages caused during the theft.

Natural disasters: Auto rickshaws can also be damaged or destroyed due to natural disasters such as floods, earthquakes, or storms. Thus, insurance can provide financial support to the driver to cover the cost of repairs or replacement of the vehicle.
Coverage Options for Auto Rickshaw Insurance
Auto rickshaw insurance policies usually offer two types of coverage: third-party liability insurance and comprehensive insurance.

Third-party liability insurance: This is the minimum insurance coverage required by law in most countries. It covers the driver's liability towards third-party damages or injuries caused due to an accident involving the auto rickshaw. This type of insurance does not cover any damages or injuries to the driver or the auto rickshaw.

Comprehensive insurance: This is a more extensive insurance coverage that includes third-party liability insurance and also covers damages or injuries to the driver and the auto rickshaw. It also covers theft, natural disasters, and other risks as per the policy terms and conditions.
Auto Rickshaw Insurance Renewal
Auto rickshaw coverage policies usually have a validity period of one year. After that, the policy needs to be renewed to continue the insurance coverage. The renewal process is straightforward and can be done online.

Here are the steps involved in auto rickshaw insurance renewal:

Review your current policy: Before renewing your auto rickshaw insurance policy, it's essential to review the current policy and ensure that it meets your requirements. If you want to make any changes to the coverage, this is the time to do it.

Get a quote: Once you have reviewed your policy, you can get a quote from Policy.Online. Getting multiple quotes can help you compare the coverage and premium rates and choose the best one that suits your needs and budget.

Make the payment: Once you have selected an insurance provider and policy, you can make the payment online. Online payments are usually faster and more convenient.

Receive the policy: After making the payment, you will receive the renewed policy via email or post. Make sure to keep a copy of the policy with you and also update the policy details in your auto rickshaw's registration certificate.
Conclusion
Auto rickshaw insurance is an important aspect of owning and driving an auto rickshaw. It provides financial and legal protection to the driver and passengers in case of accidents, theft, or natural disasters. You can conveniently renew your policy from Policy.Online. Choose the right coverage, renew on time, and enjoy peace of mind on the roads.