OBJECTIVE
The objective of the policy is to provide economic relief to the owner/driver/passenger (s)/ third party victims as a result of accidents involving rickshaws operating through out the length and breadth of the country either for private transport or for public transport.
PERILS COVERED
SECTION-1 DAMAGE TO CYCLE RICKSHAW
Accidental means (the term accident shal mean any fortuitous event whichis external and visible)
Fire lighting or external explosion
Burglary, House breaking
Riot Strike Malicious and Terrorist Act.
Flood, cyclone, storm, tempest and similar convulsions of nature and atmospheric disturbances.
Earthquake fire and /or shock.
EXCESS First Rs. 25/- in each and every claim including total loss.
SECTION-II LIABILITIES TO THIRD PARTIES AND PASSENGERS
Rs. 25.000/- per any one accident.
Rs. 50.000/- per policy Year.
PREMIUM RATE (For section I and II)
Rs. 15 per mille of Sum Insured
GROUP DISCOUNT
NO. OF RICKSHAWS DISCOUNT %
15-25 5
26-50 10
51-75 15
76-100 20
101-150 25
Over 150 TO BE DICIDED BY HO
SECTION – III PERSONAL ACCIDENT INSURANCE
Death or Disablement of Rickshaw puller ansing out of accidents caused by outward violent and visible means.
COMPENSATION UNDER SECTION III AS UNDER
COVER OPTION A OPTION B
Death Rs. 25.000 Rs. 10.000
Loss of use of two limbs/sight Rs. 25.000 Rs. 10.000
in both eyes.
Total and irrecoverable loss of use Rs. 12.500 Rs. 5.000
of one limb/sight in one eye
Permanent Total Disablement: Rs. 25.000 Rs. 10.000
PREMIUM RATE Rs. 15 Rs. 5
Total Premium Total of section II and III
Insured age 15 to 70 years.
The cover shall be on 24 hours basis and operational while the insured is engaged in employment. Further compensation under the section would also be paid in the event of Death/Permanent or Partial Total Disablement arising from sterilsation, mountaineening, racing on wheels, snake bite, biting by insects, wild animals, murder etc.
Compersation under this scheme will be in additional other existing scheme or Insurance covers insured might be holding.
NOTE 1. Service tax will be Extra
2. Agency Commission 15%