Two-wheelers are a preferred mode of transport by many people in India as it costs less and reduces the commute time. But with so many two-wheelers on the road, it is important to be protected against financial liabilities that might arise out of accidents. The best way to be prepared to meet such contingencies is to have a motor insurance policy. The Government of India made it mandatory for all vehicles to have a third-party liability policy under the Motor Vehicles Act, 1988. IFFCO Tokio offers an insurance policy that can be purchased easily online.
|Policy Period||12 months (Customisable)|
|Policy Types||Comprehensive private car cover|
|Renewal frequency||End of policy term|
|Available Add ons||Optional personal accident insurance for pillion rider|
|No Claim Benefit||Provided for every claim-free year. Discount is capped at 50% maximum. NCB is granted if the policy is renewed within 90 days of the expiry date of the previous policy|
|No Claim Benefit after Claim||NCB becomes nil|
|Zero Depreciation Cover||Available|
|Refund Facility||Policy can be cancelled by giving 7 days notice provided no claim has risen during the policy term. The company will refund the premium minus short period rates.|
|Policy Expiration||The policy will expire on at the end of the policy term. You may renew the policy to continue your coverage|
|Network Garage||Over 2,300 network garages across the country|
When you opt for a two-wheeler insurance policy from IFFCO Tokio, you stand to benefit from a number of value-added features.
Assistance is provided round the clock by IFFCO Tokio to customers all across India.
Multiple payment modes are available to pay the premium towards your two-wheeler insurance policy. You can make the payment online as well as offline.
Enjoy discounts on premium for every claim-free year. You can get up to 50% of on your premiums through NCB. To avail the NCB, you need to renew your policy within 90 days from the expiry date of the previous policy.
IFFCO Tokio allows customers to tailor their insurance package as per their needs and requirements.
You can make cashless claims at any of the garages in IFFCO Tokio’s network.
IFFCO Tokio offers one general bike insurance policy which provides comprehensive cover. The insurer also provides customisable options for customers to tailor their insurance plan according to their needs. While a liability-only policy is mandatory by the Indian Government, it is wise to have a comprehensive package policy that will cover damages to your own vehicle and self as well.
Comprehensive cover is basically a package policy that provides protection not only against third-party liabilities but also against expenses arising out of injuries to yourself and damages to your own vehicle, By opting for this plan, you can be insured in the following instances:
This plan carries the benefits of cashless claims if you avail the services of a network garage. You can also benefit from No Claim Bonuses upon renewal if you do not make a claim during the policy term.
When you buy a comprehensive two-wheeler insurance policy from IFFCO Tokio, you will be covered financially in a number of instances.
For any accidental damages or loss caused to a third party, the insurance company will pay for any legal liabilities as per the provisions of the plan. This plan will take care of expenses related to accidental death, permanent injury or damage to property of a third party.
The natural calamities covered include fire, explosion, hurricane, tempest, cyclone, self-ignition or lightning, typhoon, earthquake, storm, frost, inundation, hail storm, flood, landslide and rockslide. If your vehicle is damaged or lost completely due to natural events, the insurance plan will pay out a benefit to cover expenses or losses.
The two-wheeler insurance policy will also cover certain manmade disasters. These include accident by external means, theft, burglary, riot, strike, terrorist activity, any malicious act, any damage in transit by air, rail, road, rail, inland waterway, lift, or elevator.
The cover offered with this plan is Rs.1 lakh. The owner or driver will get an individual accident insurance cover for any injuries sustained while driving, travelling, mounting or dismounting the bike.
Policyholders can also take additional cover for pillion riders and unnamed riders.
There are certain exclusions applicable under a 2 wheeler insurance policy from IFFCO Tokio. Under these particular circumstances, the insurer will not be liable to pay any benefits to the policyholder.
Every insurer has a set of requirements which a prospective customer must fulfill before they can buy an insurance policy. The eligibility criteria differs between companies, and also between purchase and renewal. There are certain aspects that any insurance company will check before handing out an insurance policy.
You can purchase a policy for your 2 wheeler at any of the IFFCO Tokio branches. The insurer also makes it easy to buy a policy online in a few simple steps.
IFFCO Tokio provides a number of avenues to make a claim as quickly as possible without much of the hassle. It is important to immediately report any incident that might lead to a third-party claim to the insurance company. Any accident from which any other claim might arise should also be intimated to the insurer as soon as possible.
1.Registration of a Claim
You can register a claim with IFFCO Tokio via the following avenues:
When making a claim, you need to keep the following details ready:
If you are at a garage that is within the IFFCO Tokio network, you will be eligible for cashless facility. The insurer will settle the bill directly with the garage, and you will only be liable to pay for any amount that is not covered by your policy.
If you are at any other garage, you need to settle the bill and collect a reimbursement from IFFCO Tokio. You will need to submit your documents to the insurer for verification.
It is unsafe to ride your bike without a valid insurance policy. If an accident were to occur, you could end up being liable to pay high costs in damages to your own vehicle and to third parties involved, including any damages to surrounding property. A valid insurance policy will help you take care of the expenses. Apart from this, it is mandatory to have an active motor insurance plan as per the prevailing motor laws of India. To ensure you do not miss the renewal date, you can set a reminder on the IFFCO Tokio website. Renewing your policy can be done in a few simple steps.
When you renew your policy on time, it is hassle-free and much simpler. Once the policy expires, renewal might require additional inspections and other information before the insurer is satisfied to give you a policy.
When you take out an insurance policy on your vehicle, you might be given a deductible or be asked to choose one. Deductibles refers to the amount you are willing to pay in the event you incur costs in an accident involving your 2 wheeler. The insurance provider will be liable to pay for the remaining amount. For example, if you opt for a 15% deductible, then the insurer will only pay 85% of the cost, to the extent of the sum assured. You will be liable to pay for 15% of the damages caused to your vehicle or a third party. Choosing a lower deductible will increase your premiums, but at the time of claiming insurance, IFFCO Tokio will pay a higher amount. A higher deductible will lower your premiums, but this will also mean that in case of an accident, you will be liable to pay a higher amount.
If you have missed the renewal date and your policy has lapsed, there are a few things you can do to remedy the situation. If you wish to renew a lapsed policy, you will need to contact IFFCO Tokio customer care and find out what options are available. Alternatively, you can purchase a fresh policy.
IFFCO Tokio provides a customer care service round the clock to address any grievances, claim settlements, queries and complaints that customers might have.
Corporate Office, IFFCO Tower, Plot no. 3,
Sector 29, Gurgaon - 122001
Yes, you can do this via the following methods:
The premiums for a bike insurance policy depends on these factors:
The prevailing market value of your vehicle is the Insured Declared Value. IDV is important because the insurer will take this into consideration and then decide on the sum insured for your vehicle. The reason IDV is important is if you choose a sum higher than the market value, you might end up paying higher premiums for no reason. If you choose a lower IDV, then your premiums come down but so will your insured amount.
You can insure any four-wheeler or two-wheeler intended for private use.
IFFCO Tokio provides a list of network garages on its official website. You can also contact the customer care for assistance to find out if the garage is within the IFFCO Tokio cashless network.
You can set a reminder for renewal on the IFFCO Tokio website.
In case of death or injury to a third party, there is no limit. For damage to a third-party property, the limit is Rs.1 lakh for motorcycles and scooters.
Third-party liability insurance policies provide coverage against damages that might have occurred to another individual’s vehicle, property, or assets due to an accident with your two-wheeler. The policy also provides coverage against death/injuries suffered by the third party. Further, a personal accident cover is also offered to the policyholder.
If you are not happy with the coverage offered by your two-wheeler insurance policy, you can switch to a different type of two-wheeler insurance cover offered by your insurance provider. You can also choose to switch your insurer. However, you shouldn’t cancel your insurance policy before the coverage of the new insurance policy begins since it is mandatory for all vehicle owners to have a third-party liability insurance cover at all times.
To reduce your premium, you can opt for a voluntary excess or deductible, reconsider the number of add-ons purchased, avoid making small claims to receive the No Claim Bonus, install security devices that are approved by the Automotive Research Association of India (ARAI), or join a registered riding association. Further, in the case of comprehensive two-wheeler insurance policies, you should also consider comparing policies only and checking the premium quotes of various policies before purchasing one.
As a policyholder, you can raise a cashless or reimbursement claim with your insurance provider. If you raise a cashless claim, the repair charges of your two-wheeler will be paid by the insurer to the garage, subject to the terms and conditions of your insurance policy. Cashless claims can only be raised if you are getting the vehicle repaired at a cashless or network garage.
You can purchase a two-wheeler insurance policy through the insurer’s official website or through trusted third-party insurance websites. Purchasing or renewing two-wheeler insurance policies online is safe, hassle-free, and convenient. When buying a policy online, you can also customise your policy with riders and pay the premium amount online. Thus, you can complete the entire process from the comfort of your house, without having to visit the insurer’s office.
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