Comprehensive insurance for pedal cycle rickshaws — Own Damage, Third-Party and Passenger Liability, and Personal Accident for the rickshaw puller. Offered by the insurer under their rural product range, issued by IRDAI-licensed brokers.
Rural Insurance
Cycle Rickshaw Insurance is a rural insurance product by Probitas Insurance Brokers Ltd. (the insurer) providing comprehensive three-section cover for human-pedalled cycle rickshaws used for hire or reward. A critical and unique feature is Passenger Liability included under Section B, protecting the owner against legal claims from injured fare-paying passengers. Probitas Insurance Brokers Pvt. Ltd. (IRDAI Lic. No. 528) is your licensed broker.
Standard Passenger Rickshaw
Goods-Carrying Cycle Rickshaw
School / College Route Rickshaw
Modified / Special-Purpose Rickshaw
Unlike standard Pedal Cycle Insurance, this policy uniquely includes Passenger Liability under Section B (Third-Party) — covering the owner's legal liability for bodily injury or death of fare-paying passengers being carried for hire. Without this, a rickshaw accident injuring a passenger could result in significant personal financial liability. Always confirm this inclusion with Probitas at inception on 022 4302 0000.
Electric / motorised e-rickshaws and battery-operated three-wheelers are not covered under this policy. For e-rickshaws, a separate Motor Insurance policy under the Motor Vehicles Act is required. Contact Probitas on 022 4302 0000 for e-rickshaw insurance guidance.
Who Can Apply
IDV = current market value of the cycle rickshaw agreed at inception after applying the depreciation schedule. This is the maximum OD claim payable for total loss or theft.
Example: A rickshaw purchased for ₹15,000 that is 2 years old has an IDV of ₹15,000 × (1 − 20%) = ₹12,000.
| Age of Rickshaw | Depreciation % |
|---|---|
| Up to 6 months | 5% |
| 6 months – 1 year | 15% |
| 1 year – 2 years | 20% |
| 2 years – 3 years | 30% |
| 3 years – 4 years | 40% |
| 4 years – 5 years | 50% |
| Over 5 years | IDV mutually agreed |
Plan Comparison
Compare coverage across all plan configurations. Note the highlighted Passenger Liability row — a unique feature not found in standard Pedal Cycle Insurance.
| Points of Difference | OD Only (Sec A) | TP Only (Sec B) | OD + TP (A+B) | Comprehensive (A+B+C) |
|---|---|---|---|---|
| Accidental Damage to Rickshaw | ✔ Yes | ✘ No | ✔ Yes | ✔ Yes |
| Fire, Lightning, Flood, Storm | ✔ Yes | ✘ No | ✔ Yes | ✔ Yes |
| Theft, Burglary, Housebreaking | ✔ Yes | ✘ No | ✔ Yes | ✔ Yes |
| Riot, Strike, Malicious Damage | ✔ Yes | ✘ No | ✔ Yes | ✔ Yes |
| Earthquake, Landslide, Cyclone | ✔ Yes | ✘ No | ✔ Yes | ✔ Yes |
| Transit Damage (Road/Rail/Air) | ✔ Yes | ✘ No | ✔ Yes | ✔ Yes |
| Third-Party Bodily Injury / Death | ✘ No | ✔ Yes | ✔ Yes | ✔ Yes |
| Third-Party Property Damage | ✘ No | ✔ Yes | ✔ Yes | ✔ Yes |
| 🔑 Passenger Liability (Hire/Reward) | ✘ No | ✔ Yes | ✔ Yes | ✔ Yes |
| PA — Death of Rickshaw Puller (100% CSI) | ✘ No | ✘ No | ✘ No | ✔ Yes |
| PA — PTD (100% CSI) | ✘ No | ✘ No | ✘ No | ✔ Yes |
| PA — Loss of 1 Limb / Eye (50% CSI) | ✘ No | ✘ No | ✘ No | ✔ Yes |
| Compulsory Deductible | ₹ 100 | — | ₹ 100 | ₹ 100 |
| Police FIR Required | Theft only | — | Theft only | Theft only |
| Premium Level | Lowest | Very Low | Moderate | Highest |
Coverage Under Cycle Rickshaw Insurance
The policy has three sections mirroring motor insurance. Section B uniquely includes Passenger Liability — a critical protection for any commercial rickshaw operator carrying fare-paying passengers.
| Nature of Loss / Disablement | % of CSI Payable |
|---|---|
| Death of rickshaw puller due to accident while operating | 100% |
| Permanent Total Disablement (PTD) | 100% |
| Loss of two limbs OR two eyes OR one limb and one eye | 100% |
| Loss of one limb OR one eye | 50% |
| Permanent Partial Disablement (PPD) | As per schedule % |
How Claims Are Calculated
For partial damage: actual repair cost minus depreciation on parts, minus ₹100 compulsory deductible. For total loss / theft: IDV minus ₹100 deductible is settled.
Settled as per court / MACT determination. The insurer pays the assessed liability for third-party and passenger injury / death arising from use of the rickshaw — subject to policy terms.
PA claims settled as a % of the Capital Sum Insured (CSI) chosen at inception. Death and PTD: 100% CSI. Loss of one limb / eye: 50% CSI. Section C covers only the named puller — not passengers.
If declared IDV is lower than actual market value at time of claim, the condition of average applies — OD claim reduced proportionally. Always insure at 100% of current market value.
| Parameter | OD Claim — Rickshaw (2 yrs old) | Theft Claim — Total Loss | PA Claim — Death of Puller |
|---|---|---|---|
| Rickshaw IDV / PA CSI | ₹ 12,000 (IDV) | ₹ 12,000 (IDV) | ₹ 1,00,000 (CSI) |
| Nature of Loss | Accidental damage — partial | Theft — total loss | Death of puller in accident |
| Repair / Gross Claim | ₹ 3,500 | ₹ 12,000 (IDV) | 100% of CSI |
| Depreciation on Parts (20%) | ₹ 700 | — | — |
| Net Claimable Amount | ₹ 2,800 | ₹ 12,000 | ₹ 1,00,000 |
| Compulsory Deductible | ₹ 100 | ₹ 100 | — |
| Claim Payable | ₹ 2,700 | ₹ 11,900 | ₹ 1,00,000 |
* Illustrative only. Actual settlement depends on surveyor assessment, applicable depreciation, and policy schedule terms. TP / Passenger liability settled per court / MACT.
Policy Conditions
The following 12 conditions are binding under the Cycle Rickshaw Insurance Policy. Non-compliance may result in claim rejection or policy voiding.
The cycle rickshaw must be accurately described in the policy schedule — make/type, frame/registration number, IDV, and declared use (hire/reward or private).
IDV = agreed current market value at inception — cannot be altered during the policy period.
Any modification to the rickshaw (fitment, bodywork, seating) must be declared — undeclared modifications may void coverage for claims arising from those modifications.
The insured must take all reasonable steps to safeguard the rickshaw from loss or damage. Wilful neglect may void claims.
For theft claims: Police FIR is mandatory — must be lodged immediately. Non-traceable certificate from police required for total theft claims.
For OD claims: do not authorise repairs without prior insurer survey / approval for claims above the applicable threshold amount.
The rickshaw must be used only for the declared purpose (hire/reward or private). Undeclared commercial activities void the cover.
Section C (PA) covers ONLY the named rickshaw puller / owner-operator. It does NOT cover passengers — passenger liability is under Section B (TP).
Transfer of ownership: policy must be transferred to new owner within 14 days of sale. Failure to transfer voids coverage for the new owner.
The insurer reserves the right to inspect the rickshaw at any time during the policy period to verify declared details and condition.
Subrogation: on settlement of any OD or TP claim, all rights of recovery against responsible third parties are automatically transferred to the insurer.
Renewal: IDV is reassessed at each annual renewal based on the depreciation schedule. Vehicle condition must be re-declared to confirm current market value.
How to File a Claim
Follow these four steps for smooth and timely settlement. Probitas experts assist at every stage — call 022 4302 0000.
Notify Probitas (022 4302 0000) and the insurer immediately on any accident, damage, or theft. For theft — lodge a Police FIR immediately. Do not authorise repairs before survey.
Insurer appoints a surveyor to inspect the damaged rickshaw — do not repair before approval. For theft: obtain Police FIR + non-traceable certificate from police.
Submit: Claim Form, Policy doc, FIR copy (theft), surveyor report, repair bills / estimates, rickshaw frame / reg. number, photographs, bank details. For PA: medical / death certificate.
OD: repair cost or IDV. Theft: IDV minus deductible. TP / Passenger: per court / MACT. PA: per disablement schedule. All OD claims minus ₹100 compulsory deductible.
Some Myths about Cycle Rickshaw Insurance
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