City Life E-Rickshaw Insurance

One of the leading manufacturers of battery-operated e-rickshaws, City Life uses high-end tech and innovation to manufacture a variety of electric vehicles for commercial purposes and must be insured to legally ply on Indian roads. A City Life e-rickshaw insurance policy is necessary to protect the insured vehicle against unforeseen events, such as accidents, collisions, theft, etc. It also offers compensation against third party damages caused by the insured e-rickshaw.

Reasons to Buy City Life E-Rickshaw Insurance Policy

Here are some of the reasons to buy a City Life e-rickshaw insurance policy:

Legally Mandatory: Buying a City Life e-rickshaw insurance policy is a mandatory requirement in India as per the Motor Vehicles Act, 1988. Thus, every vehicle owner must have a valid e-rickshaw insurance policy to drive in India.
Financial Coverage: An e-rickshaw insurance policy offers financial protection in case of unanticipated events, such as an accident, third party damage, fire, theft, etc.
Personal Accident Cover: With a City Life e-rickshaw insurance policy, policyholders can also cover the owner-driver of the vehicle with the Personal Accident Cover of up to ₹15 lakh.

Types of City Life E-Rickshaw Insurance Policy

There are two major types of City Life e-rickshaw insurance policies:

City Life Third Party E-Rickshaw Insurance: A City Life third party e-rickshaw insurance policy only offers coverage for third party damage arising out of the insured e-rickshaw. Third-party commercial vehicle insurance provides financial protection against third-party property damage, death and disability. The compensation offered in case of third party death/disability can be unlimited while for third party property damages it is limited to ₹7.5 lakh. This type of insurance is a legal mandate as per the Indian Motor Laws, and the premium for the same is fixed by IRDAI.
City Life Comprehensive E-Rickshaw Insurance: A City Life comprehensive e-rickshaw insurance policy offers extensive coverage to the policyholder. A comprehensive commercial vehicle insurance policy covers an insured e-rickshaw against damages arising out of uncertain events, such as a road accident, collision, strikes, earthquakes, fire, etc., and also covers any third party liability. Even though it is not a legal mandate, a comprehensive insurance is better as it offers an extended protection.

City Life E-Rickshaw Insurance Policy Coverage

Inclusions
Exclusions

Losses sustained by the insured e-rickshaw due to theft or burglary
Any damage to the third person arising out of the insured e-rickshaw
Damages caused to the insured vehicle due to manmade disasters, like terrorist acts, strikes, riots, etc.
Damages arising out of any natural calamity such as an earthquake, cyclone, hurricane, or storm
Damages arising out of the fire, explosion or self-ignition of the insured vehicle
Any loss sustained by the insured vehicle while it was in transit via any mode of transport

Losses arising out of personal use of e-rickshaw
Electrical or mechanical breakdown of the insured e-rickshaw
Damages caused to the insured vehicle when the driver was intoxicated
Any damage caused to the insured vehicle when the driver was not carrying a driving license
Losses arising outside the geographical location as specified in the commercial vehicle insurance policy
Depreciation borne by the insured e-rickshaw
Any consequential damage caused to the insured vehicle

City Life E-Rickshaw Insurance Add Ons

Policyholders can club a comprehensive insurance policy with the following add-ons:

Zero Depreciation Add-On: The zero dep add-on or bumper-to-bumper cover ensures that the insurer does not deduct any depreciation costs while settling an accidental claim. It helps in getting a better claim amount as all repaired or replaced parts are covered at 100% costs, except tyres, tubes, and batteries (at 50% costs).
IMT 23 Add-On: The IMT 23 add-on protects otherwise excluded items like tyres, tubes, lamps, bumpers, denting, painting, etc., after deducting the depreciation cost as per the age of the vehicle.
Accessories Cover: Accessories add-on cover covers damages caused to electrical or non-electrical accessories, such as fog lights, audio systems, seat covers, etc., that were fitted additionally and are not a part of the manufacturer's initial listed selling price.
Personal Accident Cover: The compulsory personal accident cover is mandatory as per the IRDAI and offers a compensation of up to ₹15 lakhs, is a mandatory add-on as per the IRDAI to cover the disability, injury, or death of the owner-driver.

How to Buy City Life e-Rickshaw Insurance Online?

Follow the steps mentioned below to buy or renew a City Life e rickshaw insurance policy online:

Visit the official website of Policybazaar Insurance Brokers Private Limited.
Select the ';Commercial Vehicle Insurance' option.
Enter all the required details regarding the City Life e-rickshaw insurance and click on ';view prices'.
Select details like IDV, RTO, registration year, model of the e-rickshaw, NCB (in case of renewals), add-ons, etc.
All the available plans will be displayed. Choose the most appropriate plan and click on submit.
Verify all the details and pay the premium online.
Once the premium has been paid, the City Life e-rickshaw insurance policy will be mailed on the registered email address.

How to File a City Life E-Rickshaw Insurance Claim?

To raise a City Life e-rickshaw insurance claim without much hassle, follow the steps mentioned below:

Inform the Insurance Company: Intimate the insurer as soon as the insured e-rickshaw has met with an accident and register a claim.
Damage Survey: A surveyor will be sent to assess the cost of damages sustained by the insured City Life e-rickshaw.
Submit the Documents: Once the surveyor verifies, submit all the required documents and the insured vehicle will be sent for repairs.
Claim Settlement: Once the insured vehicle is repaired at an authorised network garage, the insurance company will settle the claim directly.

Documents Required to Raise a Claim under City Life E-Rickshaw Insurance

To raise a claim under City Life e-rickshaw insurance, policyholders must submit the following documents:

Commercial vehicle insurance documents
Copy of driving license
Registration Certificate of the insured e-rickshaw
Fitness certificate of the e-rickshaw
Repairs Bills and estimates of repair
Copy of Police FIR, in case of theft and third-party claims
Duly signed and filled claim form

FAQs

Q1: How can I reduce my City Life e-rickshaw insurance premium price?
Ans: Follow the tips mentioned below to reduce your City Life e-rickshaw insurance premium:
- Do not make a claim during the policy tenure to accumulate NCB
- Compare e-rickshaw insurance plans and choose the most suitable one
- Avoid buying unnecessary add-ons
- Install an ARAI-approved anti-theft device in your e-rickshaw
Q2: Is it necessary to have a City Life three-wheeler insurance?

Ans: Yes, as per the Motor Vehicles Act of 1988, it is mandatory for every passenger-carrying vehicle owner to have a valid commercial vehicle insurance policy. Thus to legally drive on the roads of India, you must have a valid e-rickshaw insurance policy for your City Life e-rickshaws.
Q3: Can I have one commercial vehicle insurance for all my City Life e-rickshaws?

Ans: No, you cannot have one commercial vehicle insurance policy for all your e-rickshaws. It is mandatory to have one e-rickshaw insurance policy for each of your City Life electric rickshaws.
Q4: How can I calculate the premium of my City Life e-rickshaw insurance policy before purchasing it?

Ans: You can calculate the premium of your City Life e-rickshaw using a commercial vehicle insurance premium calculator and by filling all the required details.
Q5: Is it necessary to file a Police FIR while making a claim for my City Life e-rickshaw?

Ans: Yes, it is mandatory to have a copy of the Police FIR while filing a theft or a third-party claim under the City Life e-rickshaw insurance policy.