• IFFCO Tokio Two Wheeler Insurance

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    Incorporated on 4th December 2000, IFFCO Tokio General Insurance works with an aim of providing impeccable customer satisfaction, complete transparency and swift service. One of the leading organisations in the insurance industry, it is a joint venture between the Indian Farmers Fertilizer Cooperative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group. The latter boasts of being the largest listed insurance group in Japan. IFFCO Tokio provides a wide array for insurance products like Motor, Household, Travel, and Personal Accident.


    Key Benefits Of IFFCO Tokio Two Wheeler Insurance

    01
    02
    03
    04
    Cashless Claim Networks

    Cashless Claim Networks

    Cashless claim service available at authorised network garages across India.

    Discounts

    Discounts

    No Claim Bonus worth 50% of the premium will be provided.

    Accidental Cover

    Accidental Cover

    Policyholders can get coverage of up to Rs. 1 lakh as personal accident cover.

    Online Renewal

    Online Renewal

    When the policy is about to expire, policyholders can renew it online.


    Add-on Covers For IFFCO Tokio Two Wheeler Insurance

    01
    Third Party Cover

    Third Party Cover

    Maximum cover for third-party property damage will be Rs. 1,00,000 in the case of two-wheelers.


    Inclusions And Exclusions In IFFCO Tokio Two Wheeler Insurance

    01
    02
    Inclusion

    Inclusion

    Loss or damage to the insured vehicle due to fire / earthquake / flood / cyclone

    Exclusion

    Exclusion

    Damage by a person driving under the influence of liquor / alcohol / drugs


    Not only are Indian roads are infamous for being rickety, but are also notorious for unruly traffic. Under these circumstances, two wheelers are extremely prone to accidents and many other risks. IFFCO Tokio is known for providing reliable and comprehensive insurance services to protect your two wheeler from a host of dangers, unforeseen circumstances and accidents.

    Features and Benefits of IFFCo Tokio Bike Insurance

    Insuring your two wheeler with IFFCO Tokio entitles you to enjoy a host of benefits. The policy has multiple interesting features, as well. They have been listed below.

    • Cashless claim facility is available at IFFCO Tokio’s Cashless Garage Network (CGN), across the country.
    • If you have not made any claim during the vehicle’s policy period, you are eligible to enjoy a No Claim Bonus (NCB). NCB is offered on renewal of the insurance policy, and is allowed only if the policy is renewed within 90 days of the expiry of the initial policy. The discount can go even up to 50%.
    • On shifting your two wheeler insurance policy from any other company to IFFCO Tokio General Insurance, you can transfer NCB with its full benefits. The discount rate remains the same, but this is subject to valid evidence; substantiating the fact that you are entitled to NCB from your previous insurer. The following documents can be furnished for this purpose –
      • Renewal notice
      • NCB Declaration
      • Letter confirming the NCB entitlement. This needs to come from the previous insurer.

    IFFCO Tokio Two Wheeler Insurance Policy Coverages

    Iffco Tokio Two Wheeler Insurance Coverage
    • Personal accident cover: Personal accident cover of Rs. 1 lakh is provided for individual owner driver of the insured bike/scooter. Any accident caused while traveling in, mounting or dismounting from the vehicle is covered under this policy. There is also an option for choosing a personal accident cover for the pillion rider.
    • Loss or damage of two wheeler caused due to natural and manmade calamities. These natural calamities include fire, explosion, self-ignition, cyclone, landslide, inundation, hailstorm, frost, lightning, earthquake, typhoon, flood, storm, hurricane and tempest. Manmade Calamities eligible for the coverage include riot, theft, burglary, strike, malicious act, damage caused in transit and accident caused due to external means.
    • Third party legal liability: This protects your two wheeler against legal liability arising due to accidental damages, damage caused to the property of third party and permanent injury/ death of a person.

    Exclusions in Iffco Tokio Two Wheeler Insurance

    Iffco Tokio offers a comprehensive insurance policy for two-wheelers with extensive protection for personal accidents, loss or damages to vehicles and third party legal liability coverage. The company also provides a hassle-free application and renewal process on its web portal. Iffco Tokio customers can make both cashless and reimbursement claims via the portal and also enjoy benefits like No-claim bonus and 24/7 claim settlement assistance services.

    The following are not covered by an Iffco Tokio two-wheeler insurance policy.

    • Any loss, damage or legal liability occurring outside the geographical area of the policy.
    • Claims occurring from contractual liability.
    • Any loss, damage or legal liability sustained if the vehicle is not being used within the limitation of usage.
    • Loss, damage or legal liability occurring because the vehicle has not been driven by the person specified in the driver’s clause.
    • Damages to property or any expenses arising from the damage along with any consequential loss.
    • Loss or damages occurring directly or indirectly from ionizing radiation or contamination by radioactive nuclear fuel or from nuclear waste as a result of combustion of nuclear fuel.
    • Loss or damages attributed to the materials used in nuclear weapons.
    • Loss, damage or legal liability arising from or in connection with War, Invasions or War related operations like Civil War, Rebellion, Mutiny, or usurped power occurrences.

    Calculation of IFFCO Tokio Two Wheeler Insurance Depreciation

    Insurance companies calculate the value of the vehicle or two-wheeler, in order to judge the amount to be paid as premium. This valuation is called IDV or Insured Depreciation Value and it is very important since the insurance company pays out this specific valuation amount to the policyholder, as coverage, if there is a theft or complete loss of his/her insured vehicle.

    IFFCO Tokio calculates the Depreciation of a Two-Wheeler in the following manner:

    In case of a deduction for depreciation of the vehicle, the following rates are applicable in terms of parts replaced:

    Rubber, plastic or nylon parts, as well as tyres, batteries, tubes and air bags

    50%

    Parts made of glass

    Nil

    Components made of fiberglass

    30%

    The rate of depreciation applicable for all other parts such as wooden parts, etc., based on the age of the two-wheeler, will be as follows:

    • If the vehicle is less than 6 months old, depreciation is not applicable.
    • If the vehicle is more than 6 months old but is not over 1 year old, then the depreciation applicable is 5%.
    • If the vehicle is more than 1 year but is not over 2 years of age, then the depreciation applicable is 10%.
    • If the vehicle is more than 2 years old but is not over 3 years of age, then the depreciation applicable is 15%.
    • If the vehicle is more than 3 years old but is not over 4 years of age, then the depreciation applicable is 25%.
    • If the vehicle is more than 4 years but is not over 5 years of age, then the depreciation applicable is 35%.
    • If the vehicle is more than 5 years but is not over 10 years old, then the depreciation applicable is 40%.
    • If the vehicle is over 10 years of age (since manufacture), then the depreciation applicable on it is 50%.

    IFFCO Tokio Two Wheeler Insurance Renewal Process

    IFFCO Tokio General Insurance Company lets you purchase and renew two wheeler insurance policies online online and offline in a hassle free manner. If you’re an existing customer of this insurer or hold an insurance from another company, contemplating on switching over, it can be done in easy steps. Renewing online is highly recommended as it saves oodles of time and resources.

    For offline renewals, visit the nearest office in your locality at least 10 days before the expiration date. Carry a copy of your ID proof, the original/copy policy document and your two wheeler.

    Online Renewal Procedure

    Before initiating the renewal process, ensure you keep handy, a copy of the existing insurance policy, contact and bank details. Log onto the web portal of IFFCO Tokio and use the Buy/Renew Online button to proceed with the renewal. When this button is clicked, the page redirects to a window where you’re required to enter the details below.

    • Policy/Cover note number
    • Vehicle Registration Number
    • Mobile Number
    • E mail Id(Optional)

    After clicking “Search”, your policy details would populate. Follow the instructions thereafter to complete the renewal procedure.

    Renewal for policy provided by a different insurer can also be done on the same page. This procedure requires details of the vehicle, policy information, etc and will take a few more minutes as compared to renewal of the policy issued by IFFCO Tokio. You can also receive a “Quote” to compare the premium and benefits with the existing policy.

    Benefits of Online Renewal

    • Little paperwork is required since the details of your existing policy is automatically retrieved.
    • Saves time as you don’t have to visit the branch. A copy of new policy is instantly available for reference.
    • The customer can apply various discounts (if eligible) such as No Claim Bonus (NCB), Voluntary Excess and AAI(Automobile Association of india).

    Types of Discounts

    1. No Claim Bonus: A discount provided on the premium amount for claim free year(s). If you do not make a claim during the policy term, a discount (as high as 50%) is provided during the renewal for next year. The NCB percentage builds over years and is transferrable from one insurer to another. Read the benefits section further information.
    2. Voluntary Excess:A fixed percentage of the claim you’re required to pay, whilst the larger chunk is settled by the insurer. By Increasing your voluntary excess value (in slabs), a discount is provided on the premium at the time of renewal.
    3. Members of AAI (Automobile Association of India):If you’re a member of any of the registered Automobile Associations, a discount of 5 %(Maximum of Rs.50) on the Own Damage premium is provided.

    Documents Required for an IFFCO TOKIO Claim Settlement:

    There are two types of claims that insurance companies encounter. Below are the two scenarios and the list of documents required for each of these cases.

    Accident Claim:

    • If the policyholder is claiming insurance for an accident, the documents they need to provide include:
    • Proof of insurance: A copy of the policy or the cover a reimbursement is claimed under.
    • A copy of the driver’s license—to be submitted with the original—of the person riding the bike at the time of accident.
    • An estimate of the total repair costs by a garage where the bike is sent for repairs.
    • Repair bill and payment receipt once the vehicle is refurbished.
    • Documents that are specified in the AML guidelines.
    • Police FIR in case of third party property damage, death, or injury.

    Additional documents for theft claim:

    • Original policy document.
    • Original copy of registration certificate and tax payment receipt.
    • Previous insurance details: policy number, name of insurance company, and policy duration.
    • FIR and Final Investigation Report.
    • Form 28, 29, and 30 signed by the insured and Form 35 signed by the financer.
    • Subrogation letter.
    • A consent form of the claim settlement amount agreed between the policyholder and the financier.
    • Documents as suggested by AML guidelines.
    • NOC by financier, if the claims are to be settled against your name.
    • Acknowledge copy of letter sent to RTO intimating them about the theft.
    • Keys, service booklets, and original invoice and a non-repossession letter from financier.

    Cancellation of IFFCO Tokio Two-Wheeler Insurance

    IFFCO Tokio Two-Wheeler Insurance also has a cancellation policy in place, which lets both the company and the policyholder cancel the policy. Let’s see how both of these processes work:

    Cancellation by the Company:

    At any point during the insurance policy term, the insurer—IFFCO TOKIO in this case—has the right to cancel the policy. To do this though, the company will need to send the policyholder a seven day notice. In such a case, the firm will return any premium paid by deducting the amount based on pro-rata for the number of days the policy has been in force. The company will also deduct the short term rates from the premium before returning the amount to the policyholder.

    Cancellation by the Policyholder:

    Although a direct cancellation of the policy is not possible, a policyholder can however get a cancellation if they can show that they own another two-wheeler insurance policy. This situation only ever arises when the vehicle’s ownership is transferred to a different individual. To start with a cancellation, an individual either need to call the IFFCO Tokio’s Toll Free Number or generate a service request.

    Frequently Asked Questions (FAQs)

    Can I buy IFFCO Tokio two wheeler insurance online?

    Yes, IFFCO Tokio encourages customers to buy insurance online to increase their convenience. You can download the motorcycle insurance form from the company’s official website, and fill it up duly to apply for the insurance.

    What are the benefits of applying for IFFCO Tokio motor insurance, online?

    An IFFCO Tokio customer can enjoy the following benefits by applying for motor insurance online -

    • Quick approval
    • Minimal and easy documentation
    • Enables you to analyse the best policies and understand its terms and conditions
    • Easy insurance policy renewal for online customers
    Does IFFCO Tokio two wheeler insurance policy cover accidents and damages caused outside the geographical area of the policy registration?

    No, IFFCO Tokio is not liable to cover any accident, damage or loss caused outside the geographical boundaries of the policy registration.

    Does IFFCO Tokio two wheeler insurance provide cashless claim policy?

    Yes, to ensure maximum convenience of customers, the cashless network of IFFCO Tokio two-wheeler insurance across India, provides easy claims settlement assistance services. Customers and choose their preferred mode of payment (online and offline) and enjoy the hassle-free facilities.

    Can a policyholder get cashless facility under IFFCO TOKIO?

    Yes. IFFCO-TOKIO actually has an extensive cashless service centres under its network. To make use of this, a policyholder needs to find one close to their location and get their vehicle serviced there. Also, the policyholder needs to alert the company of the same before going through with this.

    Can I cancel the IFFCO TOKIO Bike Insurance Policy?

    IFFCO Tokio technically doesn’t allow a policyholder to cancel their policy. However, it is possible if they provide sufficient proof that they already have an existing insurance policy to begin with.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    IFFCO Tokio Bike Insurance Reviews

  • Page 1 of 8 1 2 3 4 5
    • Iffco Tokio Two Wheeler Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      My friend suggested the two wheeler insurance with Iffco Tokio so I have gone for it through online. I have paid 1150 rupees for one year to purchase this insurance. The process was immediate. I got a proper response from the customer support.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Two wheeler insurance with Iffco tokio,the premium amount is 1200,i have no claim experience till date with them.I have Honda,Activa.The policy coverage amount is 36,000,i pay it through online.The executives are great in responding to the customers.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 13, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have two wheeler, which got insured with the Iffco tokio general insurance company. I would like to say that the customer service is not yet experienced. Coverage value is okay one for me with the Iffco tokio general insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 02, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Good protection for two wheeler "
      0.5 4.0/5 "Great!"
      I don't have any claim experience with Iffco Tokio, last time the premium was paid to them, it was economical. I took two wheeler insurance for the mandatory purpose, but I didn't through about full benefits. But I believe they are providing third party cover and road side assistance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 25, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have purchased my two wheeler insurance with Iffco Tokio before 5 months. I have Honda Dio. I am paying yearly 1700 rupees. It was suggested by the dealer and completely taken care. I never contacted the customer service till now. There was no claim experience.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 24, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold a two wheeler insurance with IFFCO TOKYO from last 3 years and it is a good insurance policy to use. This policy has to be renewed every year and i pay a premium of Rs 1200 for this insurance. I do not have claim experience so far with this insurance. I am satisfied with the coverage and benefits of this policy.
      Was this review helpful? 0
      , noida
      Reviewed on Jan 24, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Best service"
      0.5 4.5/5 "Excellent!"
      I have taken a Two Wheeler Insurance with Iffco Tokio,The premium amount is Rs3000 paid once in a year.I have been using the policy for more than three years.I get a policy coverage of Rs 50,000.Online service is very comfortable to make the premium payment.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 24, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Better"
      0.5 3.0/5 "Satisfactory"
      I have insured my two wheeler with the IFFCO TOKIO general insurance company and I have not met up with any claims and the coverage value is good. I would like to say that the response is not yet experienced and am really happy with them till now.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Very good policy"
      0.5 4.0/5 "Great!"
      Around 3 months ago I have insured my two wheeler with the Iffco tokio general insurance policy. I have paid Rs,1200 to renew the insurance policy. The policy coverage is good with the iffco tokio two wheeler insurance policy. I never had any claim experience with this policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 09, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Two Wheeler Insurance with IFFCO TOKIO .The premium is paid Rs1800 once in a year.I make the payment by cash.I get a policy coverage of 35,000.The online service is good and they have got easy options.The customer service is good and respond on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 30, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Better policy to use"
      0.5 5.0/5 "Blown Away!"
      The policy coverage is good with the IFFCO TOKIO policy and I have this policy for long time. I would say I get better benefits with the Iffco tokio two wheeler insurance policy. The customer support was average with the Iffco tokio general insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 26, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Good insurance policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with IFFCO TOKYO from last 1 year and it is a good insurance policy to use. This policy has to be renewed every year and i pay a premium of Rs 1200 for this insurance policy. I do not have claim experience so far with this insurance. I have a coverage up to 50% and i am also satisfied with the benefits of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 26, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Two wheeler Insurance with Iffco Tokyo general Insurance I pay a premium of 1800,its been one year since i have taken.I get a policy coverage of 42,000 The payment is don't through an ECS.The online service is good,executives respond on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 20, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Good insurance policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with IFFCO TOKYO from last 5 years and this policy has to be renewed every year. I pay a premium of Rs 1200 for this insurance. I have a claim experience, the overall expenses was Rs 12000 but they covered only for Rs 4000-5000 which is less coverage and i am not satisfied with the amount. Overall a it is a good insurance policy to use.
      Was this review helpful? 0
      , noida
      Reviewed on Dec 16, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Nice"
      0.5 3.5/5 "Pretty good"
      I have insured my two wheeler loan with the Iffco tokio general insurance company. I would like to say that the customer service is good one for me with them and there are no issues on it. Coverage value is fine one for me with them till now.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 15, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Low premium with good benefits"
      0.5 5.0/5 "Blown Away!"
      I chosen IFFCO TOKIO because premium is less but they providing good policy cover compared to other insurance company. I have received policy copy on time, but I haven't received the hard copy. Iffco Tokio is providing 80% of benefit on bike.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 13, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Good insurance policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with IFFCO TOKYO from last 3 years and it is a good insurance policy to use. This policy has to be renewed every year and i pay a premium of Rs 900 by cash and on annual basis. I do not have claim experience with this insurance so far. I am happy with the coverage of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 11, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have got the Iffco tokio 2 wheeler insurance around 2 years 3 years ago. The customer support is good with the Iffco tokio they give reminders to renew the policy. I paid around Rs,1425 to renew the policy. The policy has the validity up to 1year. I never had any claim experience with the policy. I own a pulsar 180CC.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 11, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Good insurance policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with IFFCO TOKYO from last 2 years and it is a very good insurance policy to use. This policy has to be renewed every year and i make my payments online. I have a claim experience and the claim amount was 25%. I am also satisfied with the coverage amount and the overall service was good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 09, 2017
    • Iffco Tokio Two Wheeler Insurance
      "Good insurance policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insurance with IFFCO TOKYO from last 4-5 years and it is a good policy to use overall. This policy has to be renewed every year and the premium amount is very nominal. I do not have claim experience so far with this insurance. I am satisfied with the coverage and benefits of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 09, 2017
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