Third-party premium has changed from 1st June. Renew now
Auto Rickshaw/3-Wheeler Insurance Price & Policy Renewal Online
Auto rickshaws or three-wheelers are an important and popular choice of public transportation in India, leading to an increased number of accidents. Thus, securing them with an auto rickshaw insurance becomes crucial.
So, here’s a 2024 guide for three-wheeler auto insurance to help you buy/renew the best auto rickshaw insurance policy in India.
What is Auto Rickshaw Insurance?
An auto rickshaw insurance is a type of commercial vehicle insurance policy designed to protect and suit the needs of a three-wheelers in India.
It’s mandatory for all auto rickshaw owners to at least have a third-party auto rickshaw insurance to financially protect them from third-party liabilities. However, you can buy a comprehensive auto rickshaw policy for enhanced coverage.
Digit Insurance provides auto owners with both such policies at, affordable and customized premium prices.
Is Having Auto Rickshaw Insurance Mandatory?
Yes, according to the Motor Vehicles Act in India, it is compulsory for all vehicles to have at least a Liability Only Policy in place. Without this, it would be illegal to ride an auto rickshaw in India.
However, if you’re using your auto rickshaw as a primary source of income or, as part of a business, then it is advised to have the Standard Package Policy, as that not only covers the damages caused to third parties by your auto rickshaw but, also covers for damages caused to your own vehicle and the owner-driver against damages caused due to accidents, collisions, natural calamities, fires and other such mishaps.
Why Should I Buy Auto Rickshaw Insurance?
Mandatory by Law
If you or your organization owns auto-rickshaws, it is mandatory by law to at least buy a Liability Only Policy in place. This will financially cover you and your business in case your three-wheeler causes damage and losses to third-party property, person or vehicle.
Enhanced Coverage
If you use your auto rickshaw as a primary part of your business, it’s advised to purchase a standard or comprehensive package policy as it will protect your auto and the owner-driver from any losses caused due to natural calamities, accidents, terrorist activities, fires, thefts and malicious acts, among other unforeseen circumstances.
Passenger Protection
An auto-rickshaw that comes with valid 3-wheeler insurance also assures your customers/passengers that you’re a responsible business and are serious about your work.
Financial Protection
An insured auto-rickshaw ensures your business doesn’t face any unplanned losses or downtime, which means you can instead spend your money and time on other aspects of your business.
Why Choose Auto Rickshaw Insurance by Digit?
What's Covered in Auto Rickshaw Insurance?
What’s Not Covered?
It is equally important to know what’s not covered in your auto rickshaw insurance policy so that there are no surprises when you make a claim. Here are some such situations:
In the case of a Third-Party Liability Only Policy, damages to own vehicle won’t be covered.
If the owner-driver of the insured auto-rickshaw is drunk or driving without a valid license
Any damage caused due to a contributory negligence of the owner-driver (such as driving when there’s an existing flood)
Consequential damages is any damage that is not a direct result of the accident/natural calamity etc.
Some situations are covered in add-ons. If you haven’t bought those add-ons, the corresponding situations will not be covered.
Add-ons Available with Auto Rickshaw Insurance
Choose from the following 9 add-ons available under auto-rickshaw insurance policy by Digit to get enhanced protection for passenger carrying vehicles.
If your three-wheeler suffers a total loss/constructive loss or is stolen, you will be compensated the amount or a new auto at the prevailing ex-showroom price, under return to invoice cover. The new 3-wheeler will be the same make, model, and variant. If it is discontinued the Company’s Liability will be limited to the difference between the last available ex-showroom price and claim payable under OD section of the Base Policy.
A consumable add-on covers the cost for your auto rickshaw’s bits and pieces, like the nuts and bolts, screws, engine oil, and grease in case of an accident.
This add-on ensures that the depreciation amount on your auto rickshaw and its parts over time is not deducted at the time of claim.
This add-on will help cover any consequential damage caused to your commercial vehicle’s engine or gearbox after the accident, probably due to water regression or leakage of lubricating oil.
In case you face a breakdown of your auto rickshaw on the road - due to an accident, flat tires, malfunctioning battery, or other factors, this breakdown assistance add-on will assist you 24x7.
In instances where your rickshaw’s lockset needs to be replaced or the keys are lost, the key and lock replacement cover compensates you for the cost incurred to get the locks and keys replaced, installing a new lock set etc., in the insured three-wheeler.
This add-on helps to compensate you for any loss of income that could occur while your auto rickshaw or commercial vehicle is not available when it’s being repaired due to damage.
When your vehicle is in an accident, it will need to be towed to a garage to be repaired. Under this add-on, we will cover additional expenses that you might have while your vehicle is being moved from the spot of accident to the nearest garage or place of safety.
If your vehicle is taken on a loan and is damaged by an accident, and it’s sitting in a garage for repair that might mean a loss for your business. Through this add-on, you will be paid regular EMIs payable to the financier of the vehicle recorded in our books.
Additional Coverages or Endorsements Available
Digit also offers optional covers for 3-wheeler insurance, which provide enhanced coverage to protect in all circumstances. You can opt for them as per your needs to extend your three-wheeler commercial vehicle’s coverage, including:
Having a personal accident cover is mandatory by law so if you don’t already have it, add it with your three-wheeler insurance policy plan. This covers you for bodily injury or death of the owner-driver in case of an accident.
Since auto rickshaws are passenger carrying commercial vehicles, having this cover becomes important to protect the passengers in the vehicle in an unforeseen accident.
By opting for this cover, your three-wheeler business is protected against any legal liability that may arise due to an injury caused to your employees or someone who works for you.
This cover helps cover for losses or damage to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork in all cases, even if the auto rickshaw is partially damaged.
This will cover any electrical accessories fitted in your auto rickshaw their vehicle, which is not a part of the manufacturer’s model.
In case of any non-electrical accessories fitted in your three-wheeler, which is not a part of the manufacturer’s model, get this cover to protect those accessories against any damage and loss.
With this cover, if you face any loss, you have to pay a certain amount as your share of the loss, called the compulsory deductible that helps reduce your premium. This will also cover the loss or damage to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork if your vehicle is completely damaged.
Key Features of Auto Rickshaw Insurance by Digit
Third-Party vs Comprehensive Auto Rickshaw Insurance11
| Liability Only | Standard Package |
Damages caused by your auto rickshaw to any third-party person or property |
|
Damages caused by your auto rickshaw to a third-party vehicle |
|
Loss or damages to your own auto rickshaw due to natural calamities, fire, theft or accidents |
|
Injury/death of owner-driverIf the owner-driver doesn’t already have a Personal Accident cover in his name |
|
| Get Quote | Get Quote |
Third Party Premiums for Auto Rickshaw/Three-Wheelers
Here are the third-party premium rates for auto rickshaw in India, revised by the IRDAI in 2024.
How to Buy a Three-Wheeler Insurance Online with Digit?
Step 1
On the Digit app or website, enter your 3-wheeler's registration number, mobile number, and click on ‘View Prices.’
Step 2
Select the plan, add-ons and IDV, and click on ‘Continue.’
Step 3
Enter your personal, nominee and vehicle details and click on ‘Pay Now.’
Step 4
Complete the payment and mandatory KYC verification process.
Step 5
You’re done! You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.
Documents Required to Buy 3-Wheeler Insurance Online
To get three-wheeler insurance online from Digit, keep these documents handy:
Vehicle Registration Certificate (RC)
Previous year commercial vehicle insurance policy, if applicable
Any document among these for KYC verification - PAN/Aadhar/DL/Voter id/Form 16/Passport
How to File a Claim with Digit?
To file a claim against 3-wheeler insurance online, follow these steps:
Step 1
Inform your insurer as soon as possible by calling Digit on 1800-258-5956 or dropping an email at hello@godigit.com.
Step 2
Keep your details handy such as policy number, location of the accident, date and time of the accident, and contact number of the insured/caller to make the process easier.
Step 3
Present the required documents required to file the claim and wait for the insurers to verify the details. Upon verifying, your claim will be processed.
Why is it Important to Buy/Renew Auto Rickshaw Insurance?
- To protect your daily business from any losses that can be caused due to any minor or major accident, collision and even natural calamity.
- To protect yourself from any third-party liabilities and troubles; as per the law, every vehicle, including an auto in India should at least have a Third-Party policy.
- To ensure the safety of your passengers. You can also opt for our passenger cover if you take a Comprehensive Autorickshaw Insurance. This will ensure both your auto and its passengers are protected too.
How to Renew Auto Rickshaw Policy with Digit?
Step 1
Go to Digit App or website and click on the ‘My Policy’ tab.
Step 2
Select the policy pending for 3-wheeler insurance renewal and click on ‘Renew Policy.’
Step 3
Now select the plan, IDV, add-ons and confirm the details, then click on ‘Pay Now.’
Step 4
You’re done! You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.
How to Download Your 3-Wheeler Insurance Policy on Digit App?
To download your renewed or already active auto rickshaw commercial insurance policy with Digit, follow the given steps:
Step 1 - On the Digit app, go to the ‘My Policies’ tab at the bottom. All your current active policies will be displayed.
Step 2 – Choose the policy for which you want to download the document. Check the details and then click on ‘Download Policy’. Your three-wheeler insurance policy document will be downloaded.
Types of Rickshaws Covered in Auto Rickshaw Insurance by Digit
Under Digit’s Commercial Vehicle Package Policy, we cover all kinds of autorickshaws such as:
- Petrol/Diesel Run Autorickshaw: One of the most common means of urban transportation in India, these are your usual TVS and Bajaj autorickshaws you see across the city.
- Electric Autorickshaw: A relative newbie to the three-wheeler family, an e-autorickshaw is primarily run by electric motors/solar panels or batteries, unlike the others that are run on petrol and diesel.
Difference between Auto Rickshaw Insurance and Private Vehicle Insurance
Commercial auto rickshaw insurance covers passenger-carrying vehicles which are used only for commercial purposes. Whereas a regular motor insurance policy covers any vehicle that is used only for personal purposes. Here are the key differences:
How is an Auto Rickshaw Insurance different from a Regular Motor Insurance?
The main difference between the two is that, an auto is primarily being used for commercial purposes and carries several numbers of passengers in a day. Moreover, what makes an auto insurance different from other commercial vehicle insurances, is that it’s generally smaller in size and is therefore less risky. This is also why you may find that a commercial vehicle insurance for an auto rickshaw would be a lot cheaper than one of a truck or a bus.
How to Choose the Right Auto Rickshaw Insurance Policy?
Given the number of options available today, it is important to pick an insurance that is simple, reasonable, protects and covers you and your business in all possible situations and most importantly, guarantees to settle claims as soon as possible. After all, that’s the most important part of an insurance!
Here are a few tips that will help you pick the right motor insurance for your three-wheeler:
- Right Insured Declared Value (IDV): IDV is the manufacturer’s selling price of the auto you want to insure (including its depreciation). Your premium will be dependent on IDV. While looking for the right auto rickshaw insurance online, make sure your IDV is stated correctly.
- Service Benefits: Consider services such as 24x7 Customer Support and a wide network of cashless garages, among others. In times of need, these services matter.
- Review Add-Ons: While picking the right auto rickshaw insurance for your three-wheeler, consider the add-ons available to ensure maximum benefits.
- Claim Speed: It’s the most important aspect of any insurance. Pick an insurance company you know will settle claims quickly.
- Best Value: From the right premium and after services to claim settlements and add-ons; pick an auto rickshaw insurance that conveniently covers everything you think you will need at the best possible value.
Compare Auto Rickshaw Insurance Quotes Online
It can be tempting to pick the cheapest auto rickshaw insurance available. However, while comparing different auto insurance quotes, consider factors such as service benefits and claim settlement periods.
Weighing in important factors is important to ensure your three-wheeler and business are safeguarded against all the odds:
Service Benefits: Great services really matter in times of trouble. Make sure to evaluate services each insurance company is offering and make a sound choice accordingly. Some of the services Digit offers are 24*7 Customer Care Support and Cashless Garages among other services.
Quick Claim Settlement: The whole point of insurance is to get your claims settled! So, make sure you pick an insurance company that will guarantee quick claim settlements. Additionally, we have a zero-hardcopy policy, which means we only ask for soft copies. Everything is paperless, quick and hassle-free!
Check your IDV: A lot of auto rickshaw insurance quotes online will have a low IDV (Insured Declared Value), i.e. the manufacturer’s selling price three-wheeler. While the IDV affects your premium, it also makes sure you get your right claim at the time of a settlement. The last thing you want during a theft or damage is to find out your IDV was low/at the wrong value! At Digit, we give you the option to set your IDV while buying your commercial vehicle insurance policy online.
Best Value: Finally, pick an auto insurance policy that gives you a fair combination of it all. The right price, services and of course, quick claims!
Factors Affecting Auto Rickshaw Insurance Premium
The following are the factors that will affect your Auto rickshaw insurance premium.
- Model, Engine & Make of the Vehicle: For any kind of motor insurance, the model, make and engine are extremely important in determining the right insurance premium. Therefore, your auto rickshaw insurance will primarily depend on the model and make of your rickshaw, type of fuel, its manufacturing year and additional features, amongst others.
- Location: The place you register and choose to ride your rickshaw matters a lot when deciding your insurance premium. Metropolitan cities with a lot of traffic, crime and accident rates would obviously charge a higher premium, while safer and smaller cities may charge a lesser insurance premium.
No-Claim Bonus: If you’ve already had auto rickshaw insurance before and are currently looking to renew your policy or get a new insurer- then in this case your NCB (No Claim Bonus) will also be considered, and your premium will be at a discounted rate! A No-Claim Bonus means your auto rickshaw hasn’t had a single claim in the previous policy term.
Type of Insurance Plan: There are primarily two kinds of insurance available for all commercial vehicles, including auto rickshaws. Your insurance premium price will depend on the kind of plan you choose.
What our customers have to say about us
I had a wonderful experience while prossesing my vehicle insurance with Digit Insuarnce . It is so customer friendly equipped with apt technology. Claim got resorted within 24 hrs even without physically meeting any person. The customer centers handled my calls well. My special recognition to Mr Ramaraju Kondhana who was handled the case in a excellent way.
Really an fab insurance company which declared the highest idv value n staff is really courteus n i m totally complacent with the staff n specially credit goes to uves farkhun who timely infork me about various offers n benifits which push me to buy policy only from digit insurance n now i have decided to buy policy of another vehicle from digit insurance only bcs of many factors lyk cost-related and service-related.
It was a good experience of buying my 4th Vehicle insurance from Go-digit. Ms. Poonam devi explaining the policy well, as well as she knew what was the expectation from the customer and gave the quote according to my needs. And it was Hassle free to make the payment online. Special thanks to Poonam for getting this done Asap. Hope the Customer relationship team become better day by day!! Cheers.
FAQs about Auto Rickshaw Insurance in India
Can I buy an auto rickshaw insurance online from Digit?
Yes, you can. Visit the Digit website or app, provide your details, select insurance plan, complete KYC, make payment, and you’re done!
What is the difference between Liability only auto-rickshaw policy and a standard auto-rickshaw policy?
A Liability only auto-rickshaw policy will only cover third-party related damages and losses such as if your rickshaw causes damage to another person, vehicle or property. Whereas, a Standard auto-rickshaw policy covers for both third-party damages and own damages, such as if you damage your auto-rickshaw in an accident or natural calamity.
Where can I repair my auto-rickshaw in case of damage?
If you've activated your auto-rickshaw policy with us, you can use any of our 1400+ garages, spread across India. On the other hand, you can also get your auto-rickshaw repaired at another garage of your choice and get the required amount reimbursed from us. Click here to check our network of garages.
Are passengers also covered in auto-rickshaw insurance?
Passengers are considered as third parties and are, therefore, covered under both the Liability-only policy and Standard Policy.
Can I insure over 100 auto rickshaws as part of my company with Digit's auto-rickshaw insurance?
Yes, there's no limit to how many auto rickshaws you can insure with us.
What should I do if my auto-rickshaw gets into an accident?
Call us immediately on 1800-258-5956 and we will help you from thereon.
How to calculate the premium of three-wheeler insurance?
The auto rickshaw insurance premium varies depending on the type of auto rickshaw, its cc, location of vehicle, seating capacity, vehicle weight, and more factors.
How much is auto rickshaw insurance premium amount?
Basic premium for auto rickshaw insurance for third-party policy is fixed by IRDAI at ₹2,371 and ₹1,134 additionally for each passenger.
Is it mandatory to have insurance for auto rickshaws?
As per the Motor vehicle Act 1988, all auto rickshaw owners must have at least a third-party insurance policy. However, if they want to get coverage for their own damage caused due to accidents, natural calamities, fire, etc., they can purchase the comprehensive insurance policy.
Who can buy an auto-rickshaw insurance policy in India?
If you are an auto-rickshaw owner – no matter if you own a single auto-rickshaw that you use to earn or run a business that uses auto-rickshaws, you can an auto-rickshaw insurance policy in India.
Can I get a discount of up to 50% under the three-wheeler insurance policy?
Yes, you can get a discount up to 50% under the No Claim Bonus add-on only if you do not raise a claim for 5 consecutive years.
Does Digit provide towing facility to the damaged auto rickshaw?
Yes, Digit provides towing facilities in case your auto rickshaw stops or gets damaged in the middle of the road.
Can I avail add-ons on my auto rickshaw insurance policy?
Yes, you can opt for different add-on covers available with Digit only with a comprehensive auto rickshaw insurance policy.
Will the IDV affect my insurance premium amount?
Yes, the IDV impacts your three-wheeler insurance policy premium amount. If you choose an IDV higher than the current market value of your vehicle, the sum insured of your policy will be higher, thus, resulting in higher premiums.
How can I reduce the premium of my auto rickshaw insurance plan?
To save on your auto rickshaw insurance premium keep your driving record clean, get timely policy renewals, choose the right IDV, compare insurance quotes online, and get only appropriate add-ons.
Does Digit include personal accident cover under auto rickshaw insurance?
Yes, auto rickshaw insurance policy by Digit includes the personal accident cover.
Is total loss covered under three-wheeler insurance by Digit?
Yes, Digit provides cover for the total loss only when the estimated repair cost of insured auto rickshaw exceeds 75% of its IDV.