Hero Electric e-Rickshaw Insurance

Hero Electric is one of the leading two-wheelers makers in India, apart from many non-commercial electric two-wheelers, the company also manufactures electric rickshaws with the name 'Raahii’. The Hero Electric ‘Raahii’ comes under the category of commercial vehicles and same as other commercial vehicles, it is mandatory to insure it with a commercial vehicle insurance policy.

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A Hero Electric e rickshaw Insurance policy is designed to protect the requirements of e-rickshaws in India. The mandatory third-party insurance policy protects the e-rickshaws from any financial liability towards third parties. Moreover, a comprehensive insurance policy covers the own damages that are caused because of accidents, natural calamities, collisions, fire, and other such unfortunate events.

Popular Hero Electric E Rickshaw Models with Insurance Price

Hero Electric Model (2019 Registration)

Hero Electric Model Variant

Insured Declared Value (IDV)

Hero Electric Insurance Premium (Third-Party Insurance)

Hero Electric Raahii

E Rickshaw – Electric

Rs. 67,760

Rs. 5,793

Disclaimer: The Hero Electric Insurance Price for this model may vary as per the engine capacity, IDV, type of fuel, RTO, registration year, etc.

Reasons to Buy Hero Electric E Rickshaw Insurance Policy

Here are the reasons to purchase Hero Electric E Rickshaw policy:

  • An owner of an organization that owns E Rickshaws, it is mandatory by law to insure these vehicles with at least a third-party liability insurance policy. Buying this type of insurance policy can financially secure the business in case the e-rickshaw causes losses or damages to a third-party person, vehicle, or property.
  • If one uses the e-rickshaw as his/her primary business, it is recommended to buy a standard comprehensive commercial vehicle insurance policy as it protects the insured vehicle and the driver/owner from any damages or losses caused because of natural calamities, terrorist activities, accidents, thefts, fires, and other malicious acts or unforeseen events.
  • Buying Hero Electric E Rickshaw insurance online is simple and easy.
  • Having a valid e rickshaw insurance policy can assure the passengers and customers that its owner is serious about his/her work and is a responsible person.
  • Online Hero Electric E Rickshaw renewal is easy and fast.

Types of Hero Electric E Rickshaw Insurance Policy

Hero Electric Third-Party Insurance: A third-party commercial vehicle insurance policy provides insurance coverage against any losses or damages incurred to third-party property or person by the insured vehicle. So, with a Hero Electric E Rickshaw Insurance policy, one gets financial coverage against third-party liabilities. According to the Motor Vehicle Act, 1988, it is mandatory to insure the commercial vehicle with at least a third-party insurance policy. So, this is mandatory insurance by law.

Hero Electric Comprehensive Insurance: Purchasing a comprehensive insurance policy for commercial vehicles like Hero Electric E Rickshaw like ‘Raahii' is an option. However, one can buy it to provide insurance coverage to the insured vehicle in case of any loss or damage incurred to it in any accident, mishap, natural calamity, etc. In addition, to cover for own damage, a comprehensive insurance policy provides coverage for third-party liability as well.

Inclusions of Hero Electric E Rickshaw Insurance Policy

The inclusions of Hero Electric E Rickshaw Insurance policy are as follows:

  • Any loss or damage incurred because of:
    • Theft
    • Accident
    • Fire
    • Personal accident
    • Natural disasters
  • If the insured Hero Electric E Rickshaw meets with an accident that leads to death or injury of the owner-driver using it, the coverage is given under ‘Personal Accident’ cover.
  • Most of the Hero Electric E Rickshaw insurance policies provide coverage when damage occurs to it while it is being towed.
  • Any losses or damages incurred to third-party or the passengers of e-rickshaw.

Exclusions of Hero Electric E Rickshaw Insurance Policy

Here is the list of exclusions of Hero Electric E Rickshaw Insurance policy:

  • In a third-party liability insurance policy, damages or losses incurred to own vehicle are not covered.
  • When the owner-driver of the insured vehicle is drunk while driving, then any losses or damages incurred are not covered.
  • Any losses or damages incurred when the owner/ driver of the Hero Electric E Rickshaw is driving it without a valid license.
  • Any kind of consequential loss is not covered.
  • Any damages or losses incurred to the insured vehicle because of contributory negligence of the driver-owner of the vehicle are not covered.

How to Buy Hero Electric E Rickshaw Insurance Online

With the easy accessibility and use of e-commerce websites, it is very simple and quick to purchase everything online and the same goes for insurance. One can buy Hero Electric E Rickshaw Insurance online by following the below-mentioned steps:

  • Go to the page of commercial vehicle insurance and click purchase commercial vehicle insurance.
  • Fill in all the required details such as make and model of the Hero Electric e rickshaw its RTO information, details of manufacturing, type of insurance type policy like comprehensive or third-party insurance, details related to the claim, etc.
  • Upon filling in all the aforementioned details, one can choose the insurance quote from the insurance providers’ list for Hero Electric E rickshaw.
  • After this, one has to choose a Hero Electric E Rickshaw insurance policy that meets his/her needs and then make the payment.
  • The insurance policy is then e-mailed to the registered email id of the insured or one can easily download it.

How to Renew Hero Electric E Rickshaw Insurance Online

The steps to renew the Hero Electric E Rickshaw Insurance online are as follows:

An insured or policyholder has to submit the renewal form of Hero Electric E Rickshaw Insurance with the below-mentioned information and the insurance provider's representative will contact him/her:

  • Policyholder’s name
  • Policyholder’s mobile number
  • His/her landline number (if available)
  • His/her Email-id
  • Hero Electric E Rickshaw’s model
  • Registration city
  • Registration year
  • Whether the previous Hero Electric E Rickshaw Insurance policy was expired or not
  • Type of the insurance policy:
    • Buy an insurance policy for a brand new E Rickshaw
    • Renew an existing Hero Electric E Rickshaw Insurance policy
    • Renew an existing Hero Electric E Rickshaw Insurance policy from a different insurer

Hero Electric E Rickshaw Insurance Policy Claim Procedure

  • While one is filing a claim for his/her e rickshaw, the first step is to inform the insured at its toll-free number.
  • For Hero Electric E Rickshaw insurance cashless claim settlement, the insured has to fix an appointment with the insurance provider’s authentic surveyor. After completion of the survey, the e-rickshaw is taken to any of the network workshops of the insurance provider for repair.
  • Insured has to give all the necessary documents to the surveyor.
  • The insurance company can confirm the liability only after this.
  • If the insured wants to avail of the cashless service, the Hero Electric E Rickshaw insurance provider will settle the claim directly with the network garage.
  • However, if one avails the reimbursement, then he/she has to settle the claim’s cost first by self. Later, he/she has to submit all the original bills with the claim form to the insurer for claim settlement.

Documents Required for Hero Electric E Rickshaw Insurance Claims

  • Signed and filled claim form
  • Registration certificate’s copy
  • Driving license’s copy
  • Copy of FIR
  • Repair’s estimate
  • Load challan (for commercial vehicles only)
  • Permit of the commercial vehicle

Hero Electric E Rickshaw Insurance Policy FAQs

Written By: PolicyBazaar

Commercial Vehicle insurance articles

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