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  • IFFCO Tokio Two Wheeler Insurance

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    Plan Benefits

    Policy Coverage

    Customer Service

    Claim Experience

    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.

    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 6 1 2 3 4 5
    • review Two Wheeler Insurance
      "Its Good"
      0.5 4.0/5 "Great!"
      I paid the yearly premium of Rs.1500, it has the tenure of one year, they gave me the policy coverage around 60,000. I have unicorn 160 bike worth Rs. 90,000. IFFCO TOKIO gives good cover for my Bike. Therefore I am quite satisfied with their coverage.
      Was this review helpful? 0
      , khammam
      Reviewed on Sep 21, 2017
    • review Two Wheeler Insurance
      "Need to improve"
      0.5 2.0/5 "Expected more"
      I have two wheeler, which got insured with the Iffco tokio general insurance company. I would like to say that the premium value was a nominal one with the Iffco tokio general insurance company and I have not faced any claims with them till now.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 21, 2017
    • review Two Wheeler Insurance
      "Policy amount should be improvised"
      0.5 3.0/5 "Satisfactory"
      From IFFCO TOKIO GENERAL INSURANCE i have taken a two wheeler insurance.As that was mandatory i taken that insurance from IFFCO TOKIO. We need to pay 1200 per year. Through collection agent i will make the payment. Other than that i am not aware about their benefit and all.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Sep 06, 2017
    • review Two Wheeler Insurance
      "Excellent"
      0.5 4.0/5 "Great!"
      I have insured my two wheeler with the Iffco tokio general insurance company and the services are good one. Response is really fine one for me and the coverage value is around 50000 Rupees, also I have not faced any claims with them till now. Response is also good one for me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 28, 2017
    • review Two Wheeler Insurance
      "Very good policy"
      0.5 5.0/5 "Blown Away!"
      I am renewing my 2wheeler insurance policy with Iffco tokio for about 2 years. I paid Rs.1800 to renew my policy last time. The customer service is good with Iffco tokio, because they use to sent remainders to renew the policy before the due date. The policy coverage's are good with this policy. I am happy to have a insurance with Iffco tokio general insurance company.
      Was this review helpful? 0
      , berhampur
      Reviewed on Aug 10, 2017
    • review Two Wheeler Insurance
      "Payment options are excellent"
      0.5 5.0/5 "Blown Away!"
      Payment options are excellent here and they have other modes to make the payment for instance card to card and other options too. Easy to renew this two wheeler insurance with IFFCO TOKYO also they provide amazing offers too and it is very much useful too. I am holding this policy for about 5 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 06, 2017
    • review Two Wheeler Insurance
      "Very good policy"
      0.5 4.0/5 "Great!"
      I am having a 2 wheeler insurance policy with IFFCO TOKIO for past 4 years. The service is really good with Iffco tokio, because they remind me to renew the the policy on time before a month by sending mails and text messages and through calls. I paid Rs.1400 to renew the policy this year. I am satisfied using this policy.
      Was this review helpful? 0
      , gulbarga
      Reviewed on Jul 12, 2017
    • review Two Wheeler Insurance
      "Good Insurance policy"
      0.5 3.5/5 "Pretty good"
      The IFFCO TOKIO 2 wheeler insurance gave good service. At the time of claim experience they had given 45% of cliam, which is really good. The policy coverages are good with Iffco tokio . I am renewing the 2 wheeler insurance policy with Iffco tokio for past 2 to 3 years, Because I am satisfied with their claim and their service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 11, 2017
    • review Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      Around past 2 years I amusing IFFCO TOKIO 2 wheeler insurance policy. I pay around Rs.1100 to renew the policy , every year it getting increased, Initially I have started getting the policy by paying Rs.950. The policy coverage and the plan benefits are good with Iffco Tokio , I haven't had any claim experience so far. I am happy holding Iffco Tokio 2 wheeler insurance policy,
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 28, 2017
    • review Two Wheeler Insurance
      "Average policy to use"
      0.5 4.0/5 "Great!"
      I am renewing the 2 wheeler insurance policy with IFFCO Tokio from past 2 years . I got Honda Activa which is insured with Iffco tokio. I have paid Rs.1,200 to renew the policy . I don't get any notifications to renew the policy before the expiry date. The customer service need to be improved with Iffco tokio. It is an average policy to use.
      Was this review helpful? 0
      , madurai
      Reviewed on Jun 27, 2017
    • review Two Wheeler Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I am having IFFCO TOKIO GENERAL INSURANCE 2 wheeler policy for past 4 years. I got a Bajaj pulsar motor bike, which was insured with Iffco tokio every year I need to renew the policy . This year I have paid Rs,1800 to renew the policy. I never had any claim experience so far but the plan benefits and the policy coverages are good with IFFCO TOKI GENERAL INSURANCE POLICY.
      Was this review helpful? 0
      , haridwar
      Reviewed on Jun 27, 2017
    • review Two Wheeler Insurance
      "Excellent "
      0.5 4.0/5 "Great!"
      I am having two wheeler insurance policy with the Iffco tokio general insurance company and the coverage value is around 35000 Rupees and the premium is around 1500 Rupees, also the service tax is lesser one with them. Value is also a good one with them.
      Was this review helpful? 1
      , tirupur
      Reviewed on May 27, 2017
    • review Two Wheeler Insurance
      "Better Policy to use "
      0.5 4.0/5 "Great!"
      I have insured IFFCO TOKIO GENERAL INSURANCE with Bajaj Pulsar . I pay rs 1500 to 1700 to renew this policy. , I constantly get reminders from them to renew this policy via calls, mails and text messages which are very much useful, I don't have any claim experience with them. I am not sure about the policy coverage and plan benefits here.
      Was this review helpful? 4
      , cuddalore
      Reviewed on May 22, 2017
    • review Two Wheeler Insurance
      "Average"
      0.5 2.0/5 "Expected more"
      I am having two wheeler insurance policy with the Iffco tokio general insurance policy and it was provided by my organization. I have claimed around 65000 Rupees with the deduction of 5000 Rupees as charges. Customer service is okay with them and I have not faced any issues with them till now.
      Was this review helpful? 2
      , jamshedpur
      Reviewed on May 18, 2017
    • review Two Wheeler Insurance
      "Its Good"
      0.5 4.0/5 "Great!"
      I have taken this bike insurance before nince months, I paid the premium of Rs.1400 it gives the coverage for a year and its covers everything even the metallic, plastic or paint body of the bike I got my policy copy from them on time but I am not aware about the renewal process.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 10, 2017
    • review Two Wheeler Insurance
      "Iffco on the road"
      0.5 3.0/5 "Satisfactory"
      I am having two wheeler insurance policy with the Iffco tokio general insurance company and the coverage value is around 40000 Rupees . Services are nominal one with them like its around 1000 Rupees as premium per annum as of now. I have not faced much hassles with them.
      Was this review helpful? 3
      , mumbai
      Reviewed on Apr 11, 2017
    • review Two Wheeler Insurance
      "Very Good"
      0.5 4.0/5 "Great!"
      I took the two wheeler insurance policy with the Iffco tokio general insurance. I am with them continuously and I am paying around 1200 Rupees as the premium the services are not yet experienced because I don't have any claims with them as such.
      Was this review helpful? 5
      , ankleshwar
      Reviewed on Mar 30, 2017
    • review Two Wheeler Insurance
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      IFFCO TOKIO is really good in two wheeler insurance They are good in dealing with customer I have to pay a premium around 900Rs for the insurance purpose. If you exceed your yearly premium they charge 150 extra Till now I don't have any claim experience. It cover all I guess.
      Was this review helpful? 1
      , petlad
      Reviewed on Mar 23, 2017
    • review Two Wheeler Insurance
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      IFFCO TOKIO is really good in two wheeler insurance They are good in dealing with customer I have to pay a premium around 900Rs for the insurance purpose. If you exceed your yearly premium they charge 150 extra Till now I don't have any claim experience. It cover all I guess.
      Was this review helpful? 1
      , petlad
      Reviewed on Mar 23, 2017
    • review Two Wheeler Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My bike insurance is with IFCO TOKYO, I am entitled to get 3 free services from them.Yearly premium is around rs1300. The highlight of this policy is every year if you approach them for a claim they will cover all the parts of the vehicle without having any restrictions
      Was this review helpful? 1
      , jodhpur
      Reviewed on Mar 21, 2017
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