IFFCO Tokio Own-Damage Bike Insurance Policy

IFFCO Tokio own-damage bike insurance policy, often called a standalone own-damage bike insurance policy, covers damage to the insured bike from accidents, natural disasters, theft, and other risks. This policy ensures you will not have to bear the financial burden alone if your bike gets damaged or stolen. Read more to know about this bike insurance policy in detail.

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IFFCO Tokio Own-Damage Bike Insurance Policy & Key Features

The key features of IFFCO Tokio own-damage bike insurance policy are highlighted in the form of a table below:

Categories Key Features
Policy Coverage
  • Protection against damage or loss from accidents.
  • Financial coverage against damage or loss caused by theft.
  • Protection for damage or loss caused due to man-made disasters like war, terrorism, and riots.
  • Coverage against loss caused by natural calamities like landslides, tornado, earthquakes, etc.
Policy Premium
  • Affordable premiums to fit any budget.
  • Several add-ons or riders are available on extra premium to enhance the basic coverage.
  • Mandatory Personal Accident (PA) cover for two-wheeler owners.
Convenience
  • Instant policy issuance with zero paperwork.
  • Smooth claim process supported by a nationwide network of garages.
  • Easy online purchase and renewal process.

Why Choose IFFCO Tokio Own-Damage Bike Insurance?

A standalone own-damage bike insurance policy offers financial protection for your two-wheeler against loss or damage from accidents, natural disasters, and man-made incidents. Note that this policy covers only the damage to your own vehicle, not any other liabilities related to it. For complete coverage, you can buy this policy alongside the mandatory third-party bike insurance.

The top reasons to choose IFFCO Tokio own-damage bike insurance policy are listed below:

  • Wide Garage Network: IFFCO Tokio offers cashless services at more than 4,300 network garages, ensuring repair services across the country.
  • Expertise and Experience: With over 22 years of experience in the industry, IFFCO Tokio excels in providing quality services under two-wheeler insurance policy.
  • 24*7 Customer Support: The company provides reliable, round-the-clock assistance for all its customers.

Inclusions of IFFCO Tokio Own-Damage Bike Insurance

The IFFCO Tokio bike insurance policy provides coverage for the following:

  • Loss due to fire, self-ignition, lightning, or explosion.
  • Loss resulting from housebreaking, burglary, or theft.
  • Damage caused by man-made disasters such as terrorist activity, strikes, riots, etc.
  • Loss due to natural calamities like earthquakes, floods, storms, hurricanes, etc.
  • Damage or loss resulting from accidents.
  • Loss or damage while in transit by roads, railways, or airways.

Exclusions of IFFCO Tokio Own-Damage Bike Insurance

Under own-damage bike insurance policy, IFFCO Tokio will not be liable to pay for any expense arising due to the following:

  • Any damage or loss due to depreciation, wear and tear, or electrical breakdowns.
  • Tyre and tube damage unless the vehicle is damaged, too. In this case, 50% of the replacement cost is covered.
  • Loss or damage to accessories from burglary or theft unless the vehicle is stolen at the same time.
  • Accidental loss or damage caused to the insured bike when the person was driving under the influence of alcohol or drugs.
  • Any other damage or loss not covered under the policy's terms and conditions.

How to Buy IFFCO Tokio Own-Damage Bike Insurance Online?

The quick and easy process to buy IFFCO Tokio bike insurance policy is as follows:

Step 1: Go to Policybazaar.com and locate "Insurance Products" in the top menu.

Step 2: From the list of options, select ‘Own-Damage Bike Insurance’ and enter the details of your bike accurately. Once entered, click on the ‘View Prices’ button.

Step 3: For the selected model of your two-wheeler, choose IFFCO Tokio own-damage bike insurance and enter all the requested details. 

Step 4: Finally, pay the IFFCO Tokio own-damage bike insurance premium online and you will receive the policy via email on your registered email ID.

How to Raise IFFCO Tokio Own-Damage Bike Insurance Claims?

Following are the steps to be followed to raise IFFCO Tokio own-damage bike insurance claims:

Step 1: Inform insurance provider about the incident as soon as possible.

Step 2: Download the claim form from the insurer's website. Fill it out accurately, sign it, and submit it along with any required documents.

Step 3: Once the insurance company receives the claim application, a surveyor will be sent for assessing the damages. 

Step 4: The surveyor will examine the damages and prepare a detailed assessment report to share with the insurance provider.

Step 5: The insurance provider will review the assessment report and decide whether to approve or reject your claim.

Step 6: If your claim is approved, take your bike to a nearby-authorised network garage for repairs in case of cashless claim services. The insurance company will settle the bills there directly. Alternatively, if you choose a non-network garage, you must pay the bills upfront and get reimbursed by the insurance company later.

Documents Required for IFFCO Tokio Own-Damage Bike Insurance Claim

Below are the documents needed to raise an IFFCO Tokio bike insurance claim:

  • A copy of the FIR (if applicable)
  • Bike's Registration Certificate (RC)
  • Driving license of the person who was riding the bike at the time of the accident
  • Valid own-damage bike insurance policy
  • Duly completed and signed claim form
  • Any other documents requested by the insurance company

FAQs About IFFCO Tokio Own-Damage Bike Insurance Policy

  • Q1. Does IFFCO Tokio own-damage insurance cover bike damage?

    Ans: Yes, IFFCO Tokio own-damage insurance covers bike damage caused by natural disasters, man-made threats, accidents, or theft.
  • Q2. How do I claim my own-damage insurance?

    Ans: To claim your IFFCO Tokio own-damage insurance, raise a claim request with the insurance provider. Make sure you inform them about the loss or damage as soon as possible.
  • Q3. Is own-damage insurance mandatory?

    Ans: No, own-damage insurance is not legally required by law or IRDAI. However, you should buy the OD bike insurance policy to protect your vehicle from theft, accidents, earthquakes, riots, and other potential damages.
  • Q4. Can I raise an IFFCO Tokio own-damage bike insurance claim twice a year?

    Ans: Yes, there is no limit on the number of claims you can raise. However, filling a claim will affect your No Claim Bonus (NCB).
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 62 Reviews)

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IFFCO Tokio Own-Damage Bike Insurance Policy Reviews & Ratings

4.6 / 5 (Based on 62 Reviews)
(Showing Newest 10 reviews)
Sumit
Ludhiana, October 09, 2021
Complete support
Policybazaar is one of the best service providers. I did not expect that I would get so much support. I went to Policybazaar for bike insurance and with the help of the team I took iffco Tokio two wheeler Insurance. the team shared with me all the details of my policy.
Ramakant
Ghaziabad, October 09, 2021
Outstanding service
I am planning to buy more plans from Policybazaar as I am satisfied with the services provided by Policybazaar. the team facilitated me with outstanding service. I have had a wonderful experience while buying iffco Tokio Two Wheeler Insurance.
Jitendra
Vadodara, October 09, 2021
Faster claim settlement
I had lost my documents which were required to make the claim. I visited Policybazaar from where I had taken iffco Tokio Two Wheeler Insurance. The team resolved my problem in a single conversation. They are very good in problem solving. i got the claim settlement without any hassle.
Anuj
Patna, October 09, 2021
Best plan
The services provides by the Policybazaar to its customers are remarkable. i have received full attention and assistance while purchasing iffco tokio plan for my bike. An executive who helped me find the best plan at the best price was brilliant at his work.
Satish
Pimpri Chinchwad, October 09, 2021
Right plan
My father had gifted me a bike and a friend of mine suggested me to get my bike insured as it will help me financially in case of any kind of mishappening. So I came across the policybazaar website and after comparing the plans I found the right plan for me which was iffco tokio plan.
Nandini
Pimpri Chinchwad, August 18, 2021
Great plans
I did not like my previous policy so i decided to switch and i went to policy bazaar office and i took a IFFCO Tokio two wheeler insurance policy. in the new policy i got what i need in my policy and satisfied with the service provided by the company.
Jaideep
Varanasi, June 04, 2021
Easy renewal
I bought Iffco Tokio two wheeler insurance online through policybazaar. The process was very easy. I renewed the same policy this year as well. I like their services.
Ram
Noida, June 04, 2021
Easy online claims
I purchased Iffco Tokio two wheeler insurance three years ago through policybazaar. I had to claim the policy once last year due to minor accident. Entire process was very smooth and I was able to get the claim very quickly.
Nitin
Amabala, June 04, 2021
New policy holder
I bought Iffco Tokio two wheeler insurance three months ago through policybazaar. Online buying process and payment was very easy. I could compare 10 different plans before deciding on one. Thank you policybazaar.
Gavin
R.udayagiri, October 13, 2020
Save
I have saved a lot more money when I got the iffco tokio two wheeler insurance policy from the policybazaar and it has been an amazing experience for me and my family. Thank you policybazaar.

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis