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IFFCO Tokio Comprehensive Bike Insurance
IFFCO Tokio Comprehensive Bike Insurance policy is a type of insurance cover for two-wheelers that provides full coverage against both third-party liabilities and any own damages sustained by the insured bike in an accident. It also provides personal accident cover to the bike’s owner-driver.
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Iffco Tokio Two Wheeler Insurance
- IFFCO Tokio Comprehensive Bike Insurance
Benefits of IFFCO Tokio Comprehensive Bike Insurance
The benefits provided by an IFFCO Tokio comprehensive bike insurance policy are as follows:
- 24x7 Customer Support– The insurance company has an active customer support team that provides 24x7 assistance for claim settlement and other queries related to the policy.
- Cashless Repair- The IFFCO-Tokio General Insurance Company has a vast network of over 4300 garages across India where policyholders can avail cashless repair facilities.
- Total Coverage– It provides total coverage by offering financial as well as legal assistance to the bike owner in case of third party accidental liabilities. This assistance is also extended to damages/injuries sustained by the owner-driver and the insured vehicle.
- Add-On Covers- The bike owners can enhance their two wheeler insurance cover by purchasing add-ons, such as roadside assistance cover, zero depreciation cover, etc. at the start of the policy year. But, they will need to pay a little extra premium for the same.
- No Claim Bonus- If the policyholder has not made any claim during the policy period, he/she can get a no-claim bonus that provides saving on renewal premium of up to 50%.
- Faster Claim Settlement– The insurance company enjoys a claim settlement ratio of 95.80% and settles app-based claims within 4 hours.
Iffco Tokio Two Wheeler Insurance Plans
IFFCO Tokio Comprehensive Bike Insurance vs Third-Party Insurance
Take a look at the major differences between IFFCO Tokio Comprehensive bike insurance and Third Party bike insurance plans below:
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Features |
Comprehensive Two-wheeler Insurance |
Third-party Two-wheeler Insurance |
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Coverage |
Comprehensive two-wheeler insurance provides complete coverage to the policyholder against third-party liabilities and own damages caused by the insured bike during an accident. |
Third party two-wheeler insurance provides coverage for only the damages or injuries caused to the third party in an accident. |
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Legal Requirement |
Comprehensive two-wheeler insurance is optional. A customer can choose to purchase it as per his/her preferences. |
The Motor Vehicles Act, 1988 has made it mandatory for every bike owner to purchase third party insurance cover. |
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Add-on Covers |
A comprehensive cover allows the bike owner to opt for several add-ons like zero depreciation cover, roadside assistance, etc. on payment of a higher premium in addition to the benefits provided under the base policy. |
Third party bike insurance plans do not offer add-on covers. |
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Premium amount |
Since the coverage provided is more, the bike owner will also have to pay a higher premium for this policy. |
Because of limited coverage, the premium cost of third party two wheeler insurance is low. |
What is Covered under IFFCO Tokio Comprehensive Two-wheeler Insurance Plan?
A comprehensive bike insurance policy provides complete coverage to the two wheeler. Let us have a look at the coverage provided by IFFCO Tokio comprehensive bike insurance policy in detail:
- Third-party Liability Coverage- The IFFCO Tokio comprehensive bike insurance policy covers the accidental liabilities resulting from a third party for causing death, injury, permanent disability and property damage by the insured bike.
- Personal Accident Cover- The policyholder (owner-driver) gets a compulsory personal accident cover of Rs 15 lakh. The policyholder also gets compensated in case the bike accident leads to accidental death or disability.
- Coverage against Own Damages- If your vehicle suffers damages/ losses in an accident, fire, theft, natural disaster (such as flood, earthquake, etc.), or manmade calamities, the IFFCO Tokio General Insurance Company will provide financial assistance for repair or replacement.
What is Not Covered under IFFCO Tokio Comprehensive Two-wheeler Insurance Plan?
There are a few situations in which IFFCO Tokio General Insurance Company will not provide any coverage under comprehensive bike insurance. They are:
- Damages caused due to war
- If the owner was driving without a license
- If the damage has occurred under a contractual agreement
- If the accident occurred due to drunk driving
- Unless damaged in the accident, damage to tyres and tubes will not be compensated for
- If the accident has occurred outside the geographic region, as mentionedin the policy
FAQs
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Q. What are the documents required for purchasing IFFCO Tokio comprehensive bike insurance?
The following documents are required during the purchase of the comprehensive insurance policy:
- Vehicle’s registration certificate
- Previous policy number, if any
- Nominee details
- Contact details, like phone number, address, email etc
- Driving license
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Q. Will I get compensation if somebody else was driving my bike?
The IFFCO Tokio bike insurance follows the liability caused by the vehicle and not the driver. This makes you eligible for compensation even if somebody else was driving your two wheeler. However, that person needs to have a valid driver’s license.
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Q. How to purchase the IFFCO Tokio comprehensive bike insurance policy?
You can buy a comprehensive insurance policy online or offline, depending on your convenience. To buy the policy offline, visit the nearest branch of the insurer. To buy the policy online, you can visit Policybazaar.com or the insurer’s website.
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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