Euler HiLoad EV Insurance

Euler HiLoad EV insurance is a type of insurance plan that provides financial as well as legal protection to the owner of this Electric three-wheeler cargo loader from any unforeseen incident leading to loss or damage to the vehicle, driver, content and the involved third party.

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Euler HiLoad EV Insurance Overview

Euler HiLoad EV comes with an enhanced loading capacity of 688 Kilograms, a 12.4kWh battery and many other features. It is an electric three-wheeler loader and can go 50 Kilometers on a 15 minutes charge. 

With the Euler HiLoad EV insurance policy, the policyholder will get financial coverage for unexpected loss or damages sustained by the loader. These losses and damages can arise from road collisions, explosions, accidents or third-party liabilities. However, if you are looking to purchase an Euler HiLoad EV for commercial purposes then you must purchase a commercial vehicle insurance policy.

Reasons to Purchase Euler HiLoad EV Insurance Policy

Here is why you should consider purchasing the Euler HiLoad EV insurance policy:

  • Personal Accident Cover: Euler HiLoad EV insurance policy can protect the driver/owner of the loader by purchasing the personal accident cover which is a mandatory purchase.
  • Compulsory Purchase: It is mandatory to purchase a commercial vehicle insurance policy as per the Motor Vehicle Act 1988. Thus, in order to drive legally in India, you must have a commercial vehicle insurance policy for your loader.
  • Easy to Purchase: Purchasing Euler HiLoad EV insurance policy online is easy. You can compare different plans and choose the one that fits your requirement from Policybazaar.com.
  • Covers Financial Liabilities: Euler HiLoad EV Insurance policy provides finaicial aid to the policyholder against any liabilities arising out of road accidents causing loss or damage to the third-party or own damages.

Types of Euler HiLoad EV Insurance Policy

There are two types of Euler HiLoad EV Insurance policies that you can purchase and they are as follows:

  1. Euler HiLoad EV Third-party Insurance

    Euler HiLoad EV insurance policy insures your three-wheeler loader against any accidental third-party liabilities arising out of the insured loader. Third-party liability cover includes death and disability of third-party or third-person’s property damages. Under this insurance plan, the insurance company will compensate third-party for the above-mentioned losses and damages.

  2. Euler HiLoad EV Comprehensive Insurance

    Euler HiLoad EV comprehensive insurance plan provides coverage against any loss or damages sustained by the insured loader due to unforeseen incidents. These incidents include road accidents, burglary, collisions, fire damages, etc. Apart from own damages, a comprehensive commercial vehicle insurance policy provides coverage of the third-party liabilities in case of third-party damages.

Inclusions of Euler HiLoad EV Insurance Policy

Euler HiLoad EV Insurance policy provides coverage for the following perils:

  • Any loss or damage caused to the insured auto-rickshaw due to housebreaking, burglary or theft.
  • Any loss or damage caused to the Insured Euler HiLoad EV loader due to natural calamities like cyclones, floods, hurricanes, etc. 
  • Any loss or damage caused to the Euler EV loader due to fire or self-ignition is covered.
  • The insured can also raise a claim for third-party liabilities under the comprehensive insurance plan.
  • The policy provides coverage for the loss or damages caused during the transportation.

Add-ons under Euler HiLoad EV Insurance

With Euler HiLoad EV insurance policy, you can purchase add-ons as per your requirements by paying an extra amount. Add-ons are as follows:

  • IMT 23 Cover
  • Zero Depreciation Cover
  • NCB Protection Cover
  • Legal Liability to Paid Driver
  • Personal Accident Cover

Exclusions of Euler HiLoad EV Insurance Policy

Euler HiLoad EV insurance does not provide coverage for the following perils:

  • No coverage will be provided if the driver of the loader was under the influence of alcohol or drugs.
  • No coverage will be provided if the driver was driving the loader without a valid driving license when the damage took place.
  • If the commercial vehicle is used for personal purposes when the damage took place are also excluded.
  • Wear & tear and aging of the vehicle are also not covered under the policy.
  • If the damage took place outside the geographical location specified in the policy then the insurer will not provide coverage for it.

How to Buy Euler HiLoad EV Insurance Policy Online?

Follow the steps given below to purchase the Euler HiLoad EV insurance policy online:

  • Visit the official website of Policybazaar Insurance Brokers Private Limited.
  • Enter your name and mobile number and click on get quotes.
  • Now select the type of vehicle such as a Three-wheeler Loader.
  • Select the brand name along with the model.
  • Select the RTO, variant, and year of registration of your Euler HiLoad EV Loader.
  • You will see multiple Euler HiLoad EV insurance quotes from which you can choose the one you desire.
  • Select your desired add-on if you want.
  • After selecting your plan, you can proceed to make the payment.
  • Now fill out the proposal form
  • After premium verification, you can make the payment using your preferred online payment mode.
  • Once the payment is done, the insurer will send an updated policy to your registered email address.

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How to Renew Euler HiLoad EV Insurance

Follow the steps given below to renew the insurance policy online:

  • Visit Policybazaar Insurance Brokers Private Limited Website
  • Enter your name and policy number/mobile number and click on proceed.
  • Now select vehicle type, variant, brand, RTO and registration.
  • Now proceed with loader insurance quotes.
  • Now choose the Euler HiLoad EV insurance renewal plan along with additional covers.
  • Select NCB discount for existing insurance if you have not raised any claim in the previous tenure.
  • Now make the payment using debit/credit card, net banking or UPI mode.
  • Once the payment is done, the insurer will send the renewed insurance policy documents to your registered email ID.

Claim Procedure under Euler HiLoad EV Insurance

Follow the steps given below to raise a claim online:

  • Inform the insurer about the damage caused to the insured EV loader.
  • The insurer will send an inspector to inspect the damage caused to the vehicle.
  • When the inspector gives you a green signal, you can ask the insurer for the claim form and submit it along with the required documents.
  • Once you submit the claim form, the vehicle will be sent to the network garage nearby and the insurer will pay the incurred amount.

Documents Required to Raise a Claim under Euler HiLand EV Insurance

Here are the documents that you need to submit along with the claim form to begin the claiming procedure:

  • Claim Form
  • Copy of Valid Driving License
  • Copy of Registration Certificate
  • Insurance papers
  • Copy of Fitness Certificate
  • Copy of FIR if required
  • Repair bills

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Written By: PolicyBazaar

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