Types of Rickshaw Insurance
Third-Party Insurance (Law mandated)
- Covers are meant to indemnify or compensate another individual, a vehicle or property damages that are caused by your rickshaw.
- Not inclusive of your own car damage.
- Mandated by the Motor Vehicles Act, 1988.
- Extensive Insurance (Elective and advisable) Includes third-party and own-damage (damage to your rickshaw).
- Secures against theft, fire, mishaps, natural disasters, riots etc.
Coverage Includes
- Accidental, fire or explosion damage.
- Theft of the rickshaw
- Flood, earthquake, storm, natural disaster.
- Liability on injury or death or damage to property by third parties.
- The driver/owner has personal accident cover.
Benefits
- Legal compliance (compulsory third-party cover).
- Fiscal insurance against repair or replacement.
- Calmness among the rickshaw owners and drivers.
- Included passengers in part of the policies (when chosen).
Coverages of Rikshaw Insurance
Own Damage Coverage
Protection against damages to your car due to accidents, fire, theft, vandalism, or natural calamities.
Third-Party Liability Coverage
Covers legal liabilities for bodily injuries or property damage caused to third parties in an accident involving your car.
Personal Accident Cover
Compensation for injuries or death to the owner/driver of the insured car.
Zero Depreciation Cover
Full reimbursement of repair/replacement costs without considering depreciation.
Passenger Cover
Coverage for passengers travelling in the insured Vehicle against bodily injuries or death.