Iffco Tokio Bike Insurance
Iffco Tokio Bike Insurance
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IFFCO Tokio Two Wheeler Insurance

IFFCO Tokio General Insurance Company Limited was established in the year 2000. It is a joint venture between the Indian Farmers Fertiliser Cooperative Limited (IFFCO) and Tokio Marine Group of Japan. It is the first company to endorse mega policies in India. The company provides a bunch of insurance products to its customers like motor insurance, health insurance, travel insurance, etc. including niche products, viz., cyber insurance and credit insurance. Also, it is the first private sector insurer to introduce Bima Kendras to provide insurance in rural areas.

IFFCO Tokio Two Wheeler Insurance is designed to safeguard your bike/scooter from unfortunate events, which can cause heavy destruction to the vehicle. Along with damage protection, IFFCO Tokio also provides one-day claim settlement for two-wheeler insurance. Additionally, customers have the online facility to register the claim, make payments and renewal instantly.

Highlights of IFFCO Tokio Two Wheeler Insurance

HeadquartersNew Delhi, India
Fortune India 500 Ranking66th
Number of Member Cooperatives35,000
Revenue GeneratedRs. 20,788 Crores (US $ 2.9 Billion)

**Last Updated on 06-07-2020

What Is The Renewal Process of IFFCO Tokio Two Wheeler Policy?

Renew With IFFCO Tokio General Insurance

  • Visit the official website of IFFCO Tokio General Insurance.
  • Click on the 'RENEW' tab given at the top of the page and choose 'TWO-WHEELER' insurance.
  • Provide the details like your vehicle registration number and policy number.
  • Tap on 'PROCEED' and you will be redirected to your policy details.
  • Check the details and proceed to pay the premium for renewal.
  • After making the payment, you will get the policy renewal receipt in your registered email id.

Renew With PolicyX.com

  • Go to the upper section of this page. You will see 'Get Two Wheeler Insurance Quotes Online'.
  • Fill in the details such as bike make, variant, RTO code, etc. and your basic information.
  • Choose the 'Renewal' option and also mention whether current policy is expired or going to expire by selecting an option from the box provided and click on 'Continue'.
  • The quotes page (with a list of insurers) will reflect on your screen from where you have to choose your current insurer or a new one (if required).
  • Check premium prices and also select suitable add-ons, if you wish to enhance the safety of your bike.
  • Make the premium payment online. Upon successful confirmation, a payment receipt will be sent to your registered email address.

Key Features & Benefits of IFFCO Tokio Two Wheeler Insurance

Cashless Garages: The company offers 4300+ network garages across India with cashless repair services in the event of any loss/damage of the vehicle.

24/7 Online Assistance: The customer care team of IFFCO Tokio remains active day and night for online assistance to help their customers during the claim process or any other queries regarding the policy.

Less Paperwork: Buying and renewing two-wheeler insurance online does not follow the tedious and time-taking process. You just have to fill out your personal details, submit a few documents and the policy is yours to take home.

IFFCO Tokio Two Wheeler Insurance Premium Calculation

If you want to continue with all the benefits of your two-wheeler insurance policy, you have to pay a premium for the same. The insurance company calculates the premium on the basis of certain factors of your vehicle such as zone of registration, age, cubic capacity, etc.

Given below are a few examples of bike models along with their premium rates.

Bike VariantPrice of the BikeIDV*Zero Depreciation (Add on)*Estimated Premium*
Hero HF Deluxe Self Start Alloy Wheel (97.2 cc)Rs. 55,925Rs. 35,304N/ARs. 3,496
Yamaha YZF R15 V3 BS6 (155 cc)Rs. 1,45,000Rs. 72,674N/ARs. 6,943
Bajaj Pulsar 150 Neon BS6 (149 cc)Rs. 85,536Rs. 61,088N/ARs. 2,789
TVS Apache RTR 160 Front Disc (159.7 cc)Rs. 94,500Rs. 68,536N/ARs. 4,524

**The values are calculated on the basis of Delhi city and registration year 2020.

What Are the Add-On Covers Under IFFCO Tokio Two Wheeler Insurance?

  • Roadside Assistance: Even when you are stuck in between of the road due to vehicle breakdown, this add-on coverage will provide emergency services like towing (up to some kilometres), battery jump-start, repair of flat tyre etc.
  • Zero Depreciation Cover: This cover is highly beneficial. Customers can avail 100% coverage for the claims in repair of depreciated parts of the bike such as rubber, plastic, metal, etc.
  • No Claim Bonus (NCB) Protection Cover: No Claim Bonus can be earned for a claimless year. This add-on helps in keeping your No Claim Bonus secure even after making a claim.
  • Engine Protection Cover: On adding this feature, your vehicle will be protected against any damage or repair costs of engine/gearbox parts arising due to an accident.
  • Return to Invoice: In case of total damage or loss of the vehicle, you will get the original invoice price of the vehicle along with registration charges and road tax with the help of this add-on cover.

Discounts Offered By IFFCO Tokio Two Wheeler Insurance

Voluntary Deductibles: If you wish to share the cost of a claim with the insurer by paying a specific amount, then you can avail a discount of up to Rs. 2,500.

No Claim Bonus: For every claimless year, the insurer awards you with a discount- NCB. It ranges between 20-50%.

Anti-Theft Device Installation: IFFCO Tokio guarantees a proportionate discount on the premium on installing anti-theft devices like a GPS system, safety lock for gears etc. approved by Automobile Research Association of India (ARAI).

IFFCO Tokio Two Wheeler Insurance: Claim Settlement Process

  • Intimation of the Claim: In order to inform the insurer and settle your claims faster, IFFCO Tokio has embraced a new format i.e. through 'Quick Claim Settlement' mobile application (QCS App). By installing this app in your mobile and utilising it to make a claim, a maximum of Rs. 7,000 can be settled on an immediate basis. You can also contact the insurer by calling on the toll-free number 1800-103-5499.
  • Inspection of the Vehicle: After towing the bike to the nearest network garage for repairs, a surveyor is assigned for vehicle inspection who will check for damages caused to the vehicle and estimate repair charges for the same. The surveyor will then submit a detailed inspection report along with the duly filled claim form and necessary documents to the insurance office.
  • Verification of Details: On receipt of inspection details, the insurer will verify the report and documents according to the terms and conditions of the policy. Then they will communicate about the acceptance/rejection of the claim to you through call or SMS.
  • Payment of Cashless Claim: In case of acceptance of the claim and after completion of all repairs/replacements, the total expense value is directly settled by the insurer with the garage.
  • Payment of Reimbursement Claim: If you want to register a reimbursement claim after repairing your vehicle from a non-network garage, you need to follow the same process of intimation of claim followed by submitting bills and receipts of repairs together with the claim form to the insurer. Upon successful verification, the claim amount will be credited to your bank account within 15 working days.

Documents Required During Claim

  • Policy documents.
  • FIR (First Information Report), if required.
  • Driving License.
  • Vehicle Registration Certificate.
  • Insured's name and contact details.
  • Address of the place where the vehicle is available for inspection.
  • Brief description of the nature of loss/physical injuries, if any.
  • Photos of the accident and damaged two-wheeler.
  • Repair bills and receipts (in case of reimbursement claims).

Contact Details of IFFCO Tokio Bike Insurance

IFFCO Tokio General Insurance Company

Registered Office Address: IFFCO Tokio General Insurance Company Limited, IFFCO Tower, Plot No. 3, Sector 29, Gurgaon - 122001, Haryana, India.

Telephone (Toll-free): 1800-103-5499, 0124-428-5499

Email: websupport@iffcotokio.co.in (Any queries or complaints regarding your two-wheeler insurance policy)

You can also chat online with the help of the virtual assistant 'IRA' present on their website.

PolicyX.com

Registered Office Address: PolicyX.Com Insurance Web Aggregator Private Limited, 1st Floor, Landmark Tower, Plot no-2, Southcity-1, Opposite C-113, Ashok Marg, Sector-41, Gurugram - Haryana - 122001 India.

Email: helpdesk@policyx.com (For assistance & complaints), telesales@policyx.com (For any Sales query)

Toll-Free Number: 1800-4200-269

IFFCO Tokio Two Wheeler Insurance : FAQs

1. What is 'Long Term Two-wheeler Comprehensive Insurance' in this policy?

The company has introduced 'Long Term Two-wheeler Comprehensive Insurance' that provides the benefits of the policy for more than 1 year and avoids renewing it, again and again, every single year.

2. What are the different types of IFFCO Tokio Two-wheeler Insurance policy?

The company offers 2 different types of two-wheeler insurance policy:

  • Third-Party Insurance: This offers coverage to the loss/damage caused to the vehicle of the third-party.
  • Comprehensive Insurance: It provides cover for both 'Own Damage' and 'Third-party Liabilities' in addition to protection from any natural or man-made disasters.

3. I need to replace my damaged tyres. Will I be eligible to get 100% replacement cost for the same?

Under IFFCO Tokio Two-wheeler Insurance policy, you will be eligible for only 50% of the cost of replacement for completely damaged tyres.

4. Will the policy cover the depreciation costs for damaged glass?

No, damaged glasses will not be covered under IFFCO Tokio Two-wheeler Insurance policy.

5. How much 'Personal Accident Cover' is provided by the IFFCO Two-wheeler Insurance policy in case of death of the policyholder?

The company offers compensation of Rs. 20,000 in case of death of the policyholder under the 'Personal Accident Cover' of the policy.

6. In case of physical losses like loss of an eye or hand, will the policy provide any compensation benefit to the policyholder?

Yes, in case of loss of an eye, hand or foot, the policy will pay a compensation benefit of Rs. 10,000 to the policyholder (as per the 'Total Irrecoverable Loss').

Last updated on 06-07-2020