IFFCO Tokio Third-Party Bike Insurance

IFFCO Tokio third-party bike insurance provides coverage to the insured bike for causing accidental injury or damage to the third party. It is designed to financially protect the policyholder against any property damage, death, or disability caused to the third party in case of an accident. It protects the bike owners against hefty financial expenses and saves them from the stress of legal liabilities.

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What is Covered under IFFCO Tokio Third-Party Two-Wheeler Insurance Plan?

The IFFCO Tokio third-party insurance policy covers the bike owner against any damages caused to the third party physically or financially during an accident and protects him/her against resultant legal and financial liabilities. Following are the coverage provided by IFFCO Tokio third party bike insurance policy:

  • Accidental Death& Disability - The insurance company provides compensation on behalf of the policyholder if death or permanent disability is caused to a third party during an accident. The court of law decides the compensation amount.
  • Accidental Property Damage- In case property damage is caused to a third party by accident of the insured two wheeler, the third-party bike insurance policy of IFFCO-Tokio General Insurance Company will cover the expenses for up to a maximum of Rs 1 lakh.
  • Accidental Physical Injuries - If the insured two-wheeler meets with an accident and the third party gets injured, it is the bike owner's responsibility to pay for all the victim’s medical expenses, from hospitalization to medicines etc. This policy provides financial assistance to pay for these expenses.
  • Personal Accident Cover – It provides personal accident cover to the owner-driver of the bike for up to Rs 15 lakh in case he/she does not have an existing cover.

What is Not Covered under IFFCO Tokio Third-Party Bike Insurance Plan?

Even though the Indian motor laws make it compulsory for a bike owner to purchase this policy, it provides only limited coverage to the policyholder. Take a look at the situations that are not covered by the IFFCO Tokio third party bike insurance plan:

  • It will not provide any financial assistance if the insured vehicle suffers any damages.
  • It does not cover consequential loss.
  • It excludes the mechanical and electrical breakdown of the vehicle.
  • It does not cover damages due to war and related perils.
  • It excludes regular wear and tear of the vehicle.

IFFCO Tokio Third-Party Two Wheeler Insurance vs Comprehensive Insurance

Here are the differences between IFFCO-Tokio Third Party bike insurance and Comprehensive bike insurance plans:

Features

IFFCO Tokio Third-party Bike Insurance

IFFCO Tokio Comprehensive Bike Insurance

Coverage

The third-party bike insurance covers the policyholder against third party liabilities. This may include property damage as well as the death or injury of the third party.

A comprehensive bike insurance plan covers the injuries/damages caused to the third party and the damages sustained by the insured two-wheeler.

Legal Requirement

The Motor Vehicle Act, 1988 renders it compulsory to have a third party policy.

The laws under Motor Vehicle Act, 1988 don't make it compulsory to have a comprehensive insurance policy.

Add-on Covers

This policy doesn't allow for any add-ons to be attached.

There is a wide variety of add-ons available for the customer to choose from.

Premium Cost

The third-party coverage is comparatively affordable due to the limited coverage.

The extensive coverage under the comprehensive plan makes it relatively higher priced.

FAQs

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IFFCO Tokio Third-Party Bike Insurance 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.