Euler Motors Insurance
Euler Motors is an electric vehicle manufacturing company focused on offering innovative and sustainable electric three-wheelers for the Indian masses. Purchasing an Euler Motors insurance policy along with your Euler e-rickshaw can cover your vehicle against unforeseen road damages such as accidents.Read more
Euler Motors Insurance Overview
With its new-age electric cargo and passenger vehicles, Euler Motors aims at offering innovative mobility solutions for the transport business in India. The company has developed some highly sustainable electric three-wheelers for multiple commercial applications.
If you are looking to buy an e-rickshaw from Euler Motors, it becomes mandatory for you to also purchase an Euler Motor insurance policy to legally and financially protect your commercial vehicle.
Reasons to Buy Euler Motors Insurance Policy
Here is why you should consider purchasing Euler Motors insurance for your commercial vehicle:
- Vast Coverage: Purchasing a commercial vehicle insurance policy for your Euler e-rickshaw can offer you vast financial coverage against multiple unforeseen incidents. These include damages arising out of road accidents, theft, fire or even third-party liabilities.
- Compulsory by Law: If you own a commercial vehicle from Euler Motors then it also becomes mandatory for you to have a valid Euler Motors insurance policy to drive on Indian roads.
- Benefits of Add-ons: With an Euler Motors insurance policy, you can also enhance the coverage of your policy by purchasing additional covers at an extra premium.
- Easy Purchase: Purchasing a Euler Motors insurance online from Policybazaar.com is also a very easy and hassle-free process.
Types of Euler Motors Insurance Policy
The two types of Euler Motors insurance policies offered by insurance companies include:
Euler Third Party Insurance Policy
As per the motor laws of India, every vehicle owner must have at least a third-party insurance policy. This type of insurance policy provides coverage against any damage sustained by the third party due to the insured vehicle. It includes covering property damage of the third person, and the death and disability of the third person.
However, a third-party commercial vehicle insurance policy does not provide coverage for own damages sustained by the insured commercial vehicle.
Euler Comprehensive Insurance Policy
In order to cover the insured commercial vehicle, the policyholder can purchase a Euler comprehensive insurance policy. This commercial vehicle insurance policy provides enhanced coverage by covering third-party damages and own damages as well. Own damages can be caused due to uncertain events such as a collision, fire, accident, strike, etc.
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Inclusions of Euler Motors Insurance Policy
Contingencies that are covered under a Euler Motors insurance policy include:
- Losses caused to the insured commercial vehicle due to theft, housebreaking or burglary are covered
- Damages arising out of manmade acts like terrorist acts, strikes, riots etc
- Damages caused to the insured motor vehicle due to natural calamities like earthquakes, hurricanes, cyclones etc are also included in the policy coverage
- Any third-party damage such as demise, disability or property damage is also covered
- Damages arising out of external means such as collisions or road accidents
- Losses sustained by the insured vehicle as a result of fire, self-ignition or explosion
- Any damage sustained by the insured Euler Motors e-rickshaw while it was in transit via any mode of transport is also covered in Euler Motors insurance policy.
Additional Covers under Euler Motors Insurance
The coverage of a Euler Motors insurance policy can be increased by purchasing additional covers along with the standard policy. These add-on covers include:
- IMT 23 Cover
- Personal Accident Cover for Owner/Driver
- Legal Liability to Paid Driver
- Zero Depreciation Cover
- PA Cover for Paid Driver
- NCB Protect Cover
Exclusions of Euler Motors Insurance Policy
Damages that are excluded from the coverage of the Euler Motor insurance policy include:
- Damages or losses arising out of the electrical or mechanical breakdown of the insured vehicle
- Damages sustained by the insured commercial vehicle when the driver was drunk are not covered in the Euler Motors insurance policy coverage
- Any damage arising out of nuclear war or civil war
- Damages sustained by the insured commercial vehicle due to willful negligence of the driver
- Damages caused to the insured vehicle when the driver was not carrying a driving license are also excluded
- Claims cannot be raised for damages arising out of personal use of a commercial vehicle
How to Buy Euler Motors Insurance Online?
Follow these simple steps to purchase a Euler Motos insurance online on Policybazaar.com:
- From the ‘Insurance Products’ dropdown on the homepage, select the ‘Commercial Vehicle Insurance’ page
- On the form, mention your name and mobile number. Proceed further
- From the table, select the type of vehicle for which you are planning to buy insurance cover
- From the table, select the brand name as ‘Euler Motors’
- On the next few pages, select the model, variant, RTO and registration year of your vehicle
- You will now find multiple Euler Motors insurance plans from top insurers
- Select your desired plan along with required additional covers and proceed with payment
- Fill in the proposal form and verify other details
- Now pay Euler Motors insurance premium amount using any of the given online payment modes
- Once you have successfully made the payment, your Euler Motors insurance policy documents will be mailed to you.
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How to Renew Euler Motors Insurance Online?
Follow these steps for Euler Motors insurance renewal in just 5 minutes:
- Visit the official website of Policybazaar Insurance Brokers Private Limited
- Select the ‘Commercial Vehicle Insurance’ page from the ‘Insurance Products’ dropdown
- Enter your name and mobile number and proceed with Euler Motors insurance renewal quotes
- Select your vehicle type, brand, variant and model
- Select your RTO and registration year
- Select the previous year's policy expiry date and whether you have made a claim previously
- From the given Euler Motors insurance renewal plans, choose a plan along with desired additional covers
- Select previous year NCB discount received
- Pay the premium amount after the verification process
- Once the premium has been paid, your Euler Motors insurance policy will be renewed. You will receive your policy documents at your email address.
Claim Procedure under Euler Motors Insurance
To raise a Euler Motors insurance claim, you can follow the steps mentioned below:
- Call the insurance company and inform them about the incident in the next 48 hours
- Once the claim has been registered, the insurance company will send a surveyor to estimate the cost of damages
- Submit all the relevant documents to your insurer for easy claim verification
- After verification, the insured vehicle will be sent for repairs in the insurer’s network garage
- After the repairs, the insurance company will directly settle the claim with the garage.
Documents Required to Raise a Claim under Euler Motors Insurance
Documents that are required for an Euler Motors insurance claim process include:
- Euler Motors insurance papers
- Copy of Police FIR
- Copy of Registration Certificate
- Copy of Fitness Certificate
- Bills of repair
- Valid driving license
Ans: Purchasing a commercial vehicle insurance policy is mandatory as per the Motor Vehicles Act, 1988. Thus, if you want to legally drive on the roads of India, you must have a valid Euler e-rickshaw insurance policy.
Ans: You can find and compare Euler electric vehicle insurance quotes from top insurers on Policybazaar.com and choose the one that suits your budget.
Ans: No, you will not require any document for Euler electric three-wheeler insurance renewal from Policybazaar.com. It's a simple process and can be done in 5 minutes without any documents or paperwork.
Ans: You can check Euler e-rickshaw insurance status either from the insurer’s website or by signing into your Policybazaar account.
Ans: Usually, insurance companies send a hard copy of your commercial vehicle insurance policy documents to your registered address at the time of purchase. However, if you lose it or cannot find it, you can simply download a soft copy of your policy and get it printed in hard copy. Your Euler Motors insurance policy can be downloaded from the insurer’s website or Policybazaar.com.
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