How to Get Quotes for The Best Three-Wheeler Insurance Online?
If you have a business that leases three wheelers out to auto rickshaw drivers, you probably safeguard your business assets by purchasing three wheeler insurance. Depending on your budget, you purchase one of the three following options: third party three wheeler insurance, TPFT (third party, fire and theft) three wheeler insurance or comprehensive cover three wheeler insurance.
Why getting quotes is important for three wheeler owners
Some businesses – as unfortunate as it is – might go the unscrupulous way and ignore auto rickshaw insurance altogether, preferring to grease the palms of law enforcement. A lot of businesses go with the bare minimum, a third party three wheeler insurance policy, so as to avoid getting in trouble with the law. A growing number of businesses – especially those in areas of strife or a high crime rate – might invest in TPFT. A small, but rapidly growing number of smart businesses have however done the math and have realised that comprehensive insurance is the way to go because for a nominal upfront cost, one stands to save lakhs on vehicle repairs. By not getting three wheeler insurance, you are being “penny wise and pound foolish” as the paradoxical saying goes.
One might argue that comprehensive insurance is unnecessary spending because the fact that such a policy is in place “encourages” auto rickshaw drivers to zip around recklessly and dangerously. However, the vehicle owner can simply avoid sharing the details of the extent of the insurance cover with the drivers who lease the vehicles.
If you have been neglecting insurance because vif budgetary restrictions, or if you want to upgrade to TPFT or comprehensive instead, but are put off because you are not sure what comprises a good deal in terms of the three wheeler insurance policy’s price and benefits, an online insurance marketplace is the route for you.
Get 3 wheeler insurance quotes in 3 simple steps:
Step 1: Get out there (online/ virtually)
Log on to an online insurance marketplace like www.iiflinsurance.com.
Online insurance marketplaces typically get insurers to line up their products such that you are able to make an apples to apples comparison. There will be certain fields and the insurer has to respond in a to-the-point fashion. This means you don’t have to break your head over confusing jargon and misleading marketing spiel.
Alternatively, you can always just key in 3 wheeler insurance into your chosen search engine and you will be given a whole lot of mostly relevant insurer websites to click on. This second option, however, presents some additional input from your side in step 2.
Step 2: Convey your requirements
On an online marketplace, you simply need to fill up your details once, whereas if you opted for the search engine route, you need to fill up your requirements on each website, resulting in duplicated efforts. This might prove a little frustrating for many people and hence, you may want to concentrate and maximize your efforts by searching for quotes on a website like IIFL.
Be ready with
- Owner’s name and business name (if the business that owns the 3 wheeler)
- Registration numbers of the 3 wheelers
- Registration dates of the 3 wheelers
- 3 wheeler brands and makes and other such specifics
- Type of insurance desired (though you can toggle all types and see the rates that you get)
- IDV
Make sure you complete the form and click on any links that allow you to tailor your requirements.
Step 3: Get quotes
Full up your contact details for the insurers to send you quotes.
You will typically get three wheeler insurance prices, benefits and included freebies as quotes immediately right then and there on the website itself, so that you can compare rates on the spot.
Comparing quotes like a pro
Getting the quotes is only half the job done. Now you need to compare these quotes and select the right auto rickshaw insurance policy.
This little bit of grunt work is essential as part of due diligence to keeping input costs at the minimum (without cutting corners) so as to improve your overall earnings from your business of leasing commercial vehicles.
The first thought anyone has is to compare three wheeler insurance prices, or premium amount. This is definitely a good place to start, but cannot be the only mode of comparison.
You mist compare all of the following factors:
- Premium amount: As most of you may already know this is what people mean when they say three wheeler insurance price
- Features and benefits: What is included in the policy?
- Inclusions and add ons: What might be an inclusion in policy A might have to be purchased as an add on in policy B. Consider the additional cost for adding on the said “additional benefits” when comparing rates.
- Discounts and freebies: You could get another type of insurance free with the three wheeler insurance policy. However, do consider the usefulness of the freebie and any overlap with what you might already have.
- IDV: This refers to the Insured’s Declared Value of your vehicle and it impacts what payout you get in case of total loss or theft. IDV tends to start depreciating the minute you sign the papers for any vehicle so try and get insurance at the soonest.
Conclusion
It is easiest to obtain quotes for three wheeler insurance on online marketplaces. Be sure that you are making an apples to apples comparison at all times.
