IFFCO Tokio Zero Depreciation Bike Insurance Policy
If you own IFFCO Tokio bike insurance, then let us inform that the basic policy would not cover you for the depreciation of the two wheeler. However, the insurer has come up with an excellent plan option to cover this situation. With IFFCO Tokio Zero Depreciation Bike Insurance Policy, you can protect your two-wheelers like scooters, motorcycles, bikes, etc., from unknown threats on the road and save on the depreciation costs.
Reasons to Choose IFFCO Tokio Zero Depreciation Bike Insurance
IFFCO Tokio zero dep bike insurance comes with amazing benefits which include access to a wide number of authorized garages, 24x7 road assistance, instant claim settlement, spare part protection, etc.
Zero Depreciation bike insurance IFFCO Tokio General Insurance Co. Ltd. is one of the most beneficial and highly recommended zero depreciation or nil depreciation insurance policy, which is known for offering good add-on covers and easily procured at times of claim settlement. The policyholders can buy these add-on covers by purchasing a comprehensive bike insurance policy and standalone own damage covers, by the insurance Company.
If you wish to buy zero dep cover IFFCO Tokio bike insurance online, you need to follow certain steps which include stuff carrying a lot of documentation like your driving license, your RC, details related to your vehicle, etc. Depreciation causes depletion in the value of your motor vehicle with time. Zero depreciation bike insurance policy protects your bike from not only depreciation but also helps you in savings during losses and damage.
Zero depreciation bike insurance policy allows e-payment and digital banking. You can buy your zero depreciation insurance policy online and can secure your online payment with IFFCO Tokio. IFFCO Tokio Insurance company offers many beneficial policies which are simply unique and are available at affordable prices.
Benefits of IFFCO Tokio Zero Depreciation Bike Insurance Policy
There are various benefits under the IFFCO Tokio bike insurance add-on cover. They include the following:
- It allows the policyholders to claim the maximum amount for their bikes.
- It helps in saving money without any additional expenses.
- It will pay for the full amount of the damages caused.
- IFFCO Tokio Bike Insurance allows its policyholders to claim for their zero depreciation bike insurance policy for unlimited times.
- IFFCIO Tokio Bike Insurance takes complete coverage of your two-wheeler.
- It wears off any burden on the policyholder whenever he/she asks for claim settlement.
- It offers zero depreciation add-on covers at very low and affordable prices.
- The depreciating charges of the bike are not taken into consideration by any means.
Claim Process of the IFFCO Tokio Zero Depreciation Bike Insurance Policy
The claim process of any bike settlement is very essential because it includes the condition where a policyholder appeals to the insurer for delivering the amount of compensation for any mishap incurred to the vehicle by any natural disaster or accident on the road.
IFFCO Tokio bike insurance includes two types of claim settlements for the zero depreciation bike insurance policy. They are as follows:
Cashless Claims: In this type of claim, as the name suggests, the whole process is cashless, i.e, you don’t have to pay anything for the expenses of repairing your motor vehicle. This only activates if you take your motorbike to a motor garage which is authorized by the insurer. After the repair, the company can directly pay the payment bills to the motor garage itself, following their policy protocols. The claim process for cashless claims include:
- Contacting your insurer after the accident and sharing important details like the location and time of the accident.
- Now you have to register your claim. After registering your claim, the representative of IFFCO bike insurance will guide you in further steps.
- A survey will be organized by the insurer to analyze the amount of damage caused to your motor vehicle.
- The insurer will now send your vehicle to the nearest garage.
- After the repair, the insurer will bear the payment to the motor garage according to the policy liability and you will be handed over your motor vehicle.
Reimbursement Claim: In this type of claim, you have to inform the insurer for reimbursement for the repair expenses of the damage caused to your motor vehicle. This can only be done if you take your motor vehicle to a motor garage that is not authorized by the IFFCO Tokio General Insurance Co. Ltd. The claim process includes:
- The initial process includes informing the insurer about the accident by calling them on their toll-free number 1800-103-5499 or visiting their official website. Inform them about the accident and ask them to start the reimbursement process.
- Now register a claim and get the claim number given to you.
- IFFCO Tokio General Insurance Co. Ltd. will now send a surveyor to inspect the accident. After the inspection, you can send your motor vehicle will be sent to the motor garage.
- Now get the motor vehicle repaired at a garage of your will. After repairing send the bill and the receipts to the company to start the reimbursement process.
- After considering your claim, the company will pay the claim amount.
Documents Required for Claim Settlement
Following documentation is required while filing a claim:
- Insurance Policy Copy
- Filled Claim form with signature
- Registration Certificate(RC)
- Driving License
- Copy of FIR if the third party is included
- Original Bills and payment receipts concerned with motor vehicle repair
- PAN Card
- PUC certificate
- Original repair invoice for cashless claims
Ans: No, you don't need to compulsorily buy an own damage cover. According to the law, it is upon the policyholder to buy an own damage cover for himself/ herself.
Ans: Yes, you will be allowed to change your policy details. You can do so by filing an endorsement with your policy insurer.