Motor Insurance 1427 views April 9, 2021

Do you have commercial vehicle insurance for an auto rickshaw? if not, you should have it for the smooth operation of the business. It is mandatory to buy commercial vehicle insurance for auto-rickshaw, as it safeguards you financially when a risk arises to the said vehicle. Auto Rickshaw Insurance is a type of commercial vehicle insurance, which is designed to secure a three-wheeler against unfortunate circumstances. Keep reading this post below and know more about auto rickshaw insurance.

Types of Auto Rickshaw Insurance

It is recommended because auto rickshaw insurance can secure you against financial damages caused to or caused by your three-wheeler. There are two types of Auto Rickshaw Insurance –

Third-party auto-rickshaw insurance – The insurance company will cover the loss or damage caused to or caused by the insured auto rickshaw.

Comprehensive auto-rickshaw insurance – This will secure the auto and the owner/driver from any damage/loss caused due to the vehicle, any natural or man-made calamity.

Things to Check While Buying Auto Rickshaw Insurance

In case, you are buying auto rickshaw insurance, don’t forget to check the following coverages:

Accident Cover: This cover will secure you from accident-related damages or losses such as the cost of repair for your auto rickshaw and medical expenses for your hospitalization if the accident has caused the injury.

Cover against Fire: In case of a fire breakdown, this three-wheeler cover will bear the cost incurred for the repair or replacement of auto-rickshaw.

Cover against Theft: If your auto rickshaw is stolen, this cover helps you get compensation for the same.

Natural Calamity: Your auto rickshaw will be insured against natural calamity such as an earthquake, flood and so forth.

Personal Accident Cover: This cover ensures your family gets financial support in case of your death while driving an auto rickshaw.

Cover for Towing: If your auto-rickshaw is being towed and it incurred damages as a result, you will get compensation for its repair from the insurer.

Third-party Losses: If your auto rickshaw causes damage to a third party or its passengers, your insurance policy will cover it.

Exclusions Under Auto Rickshaw Insurance

Your insurer will not cover the following expenses under auto rickshaw insurance –

Illegal Driving: If you file a claim under auto rickshaw insurance wherein the damage/loss is caused to your auto rickshaw due to driving under the influence of alcohol or any other intoxicating substance, any such claim will not be entertained by the insurance company.

Driving Without Licence: If you are driving without a valid driving license and any loss/damage is caused to the auto-rickshaw or caused by the auto-rickshaw, the same will not be considered valid for claim.

Contributory Negligence: If the damage is caused due to contributory negligence of the owner/driver, such as driving in case of an existing flood, earthquake, etc, the same would not be eligible for a claim.

Own Damages Under Third-party Policyholders: If your auto rickshaw insurance only has third-party insurance, any damage to the three-wheeler shall not be covered under the plan.

Consequential Damage: In case any damages caused to the auto-rickshaw are not directly related to the accident or natural calamity, the same will not be covered

Top Auto Rickshaw Insurance Providers in India

You can buy your auto rickshaw insurance plan from the following insurers

Company NameCoverage
Reliance General InsuranceCovers damages caused to your auto rickshaw due to

  1. Riot

  2. Strike​

  3. Earthquake

  4. Malicious act

  5. Terrorist activity

  6. Landslide

  7. Rockslide

  8. Accident (external means)

  9. Burglary

  10. Housebreaking

  11. Theft

  12. Inundation cyclone

  13. Hailstorm

  14. Frost

  15. Fire explosion

  16. Self-ignition or lightning

  17. Flood

  18. Typhoon

  19. Hurricane

  20. Storm

  21. Tempest caused to your vehicle

  22. Third-party insurance

Raheja QBE General InsuranceCover damages caused by natural and manmade calamities, and gives you a third-party liability cover
Magma HDI General InsuranceCovers legal liability for third party accidents and damages caused to the auto rickshaw from

  1. Fire

  2. Explosion

  3. Self-ignition or lightning

  4. Earthquake
  5. Flood

  6. Typhoon

  7. Hurricane

  8. Storm

  9. Tempest

  10. Inundation

  11. Cyclone

  12. Hailstorm

  13. Frost

  14. Landslide

  15. Rockslide

  16. Burglary

  17. Theft

  18. Riot

  19. Strike

  20. Malicious act

  21. Accident by external means

  22. Terrorist activity

HDFC ERGO General InsuranceCoverage against accidents, burglary, natural and manmade calamities, personal accident cover, third-party liability cover
Shriram General InsuranceCovers damages caused due to -

  1. Fire

  2. Explosion

  3. Self-ignition

  4. Lightning

  5. Burglary

  6. Housebreaking

  7. Theft

  8. Riot

  9. Strike

  10. Earthquake

  11. Flood

  12. Typhoon

  13. Hurricane

  14. Storm

  15. Tempest Inundation cyclone

  16. Hailstorm

  17. Frost

  18. Landslide

  19. Rockslide

  20. Accident

  21. Malicious act

  22. Terrorist activity

  23. Third-party liability cover

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