IFFCO Tokio Two Wheeler Insurance

IFFCO Tokio offers its customers extensive insurance coverage for their two-wheelers. Customers can purchase three different types of two-wheeler insurance in India: third-party insurance, standalone own-damage insurance, and comprehensive plans. Third-party insurance is compulsory and takes care of third-party liabilities in case of a mishap. The second type, standalone own damage insurance provides compensation for the policyholder’s two-wheeler in case of an accident. The third type of insurance is a comprehensive insurance plan, which protects your two-wheeler in a range of situations and includes both own-damage and third-party liability coverage for a single premium.

Key Features of IFFCO Tokio Bike Insurance

Features	Coverage
IFFCO Tokio Claim Settlement Ratio	95.80%
Number of Cashless Garages	4,300+
Founding Year	2000
NCB Benefits	Up to 50%
Number of Add-ons	Yes, available
Claim Assistance	Yes, available
Online Renewal	Available

Why Buy Bike Insurance with IFFCO Tokio?

With so many bike insurance companies in India, it often becomes challenging to choose one. So, to help you out, we have listed reasons why you should choose IFFCO Tokio for your bike insurance plans:

• Network Garages: IFFCO Tokio has a tie-up with over 4,300 network garages. With an extensive number of network garages available, you can easily get the benefit of cashless claim settlement.
• Quick Claim Settlement: With a claim settlement of 95.80%, IFFCO Tokio is efficient in settling bike insurance claims in a matter of a few minutes. Moreover, the process of claim settlement is also quick and hassle-free.
• 24*7 Support: IFFCO Tokio has a dedicated team that provides 24*7 assistance to policyholders. So, if you have any queries regarding the IFFCO Tokio bike insurance plan, you can easily reach out to the IFFCO Tokio team.
• Affordable Premiums: IFFCO Tokio has bike insurance plans to start at Rs. 182. Thus, when you choose to buy bike insurance with IFFCO Tokio, you will be able to buy bike insurance at affordable premiums.

Benefits of Buying IFFCO Tokio Bike Insurance Online

There are multiple benefits of buying IFFCO Tokio bike insurance plans online such as the following:

• When you buy a two-wheeler bike insurance policy online, you will save on any additional cost that is spent on buying the policy with an agent.
• The online process of buying a two-wheeler policy is also time-saving. In a few simple steps, you will be able to buy the bike insurance plan online.
• On buying bike insurance plans online, you will also be able to compare the different plans available by insurers and accordingly buy the right plan.
• You can also customise the bike insurance plan by adding different add-ons to the plan.
• One of the best parts about buying bike insurance online is that the policy will be instantly issued. In a few simple clicks, you will be able to buy bike insurance online.

IFFCO Tokio Bike Insurance Premium Calculator

To get the coverage offered under your bike insurance plan, you need to pay a certain amount which is called a bike insurance premium. With the help of the IFFCO Tokio bike insurance premium calculator, you will be easily able to get an estimate of the bike insurance premium you need to pay. Just enter a few details such as model, vehicle registration number, and more to view the bike insurance premium in a few minutes.

Types of Two-wheeler Insurance Plans

The three different types of bike insurance plan that you can buy with IFFCO Tokio are listed below:

• Third-party Bike Insurance: As per the Motor Vehicles Act of 1988, every bike owner must have valid third-party bike insurance. A third-party bike insurance plan provides coverage in case a third-party is injured or damaged due to the insured bike.
• Standalone Own-damage Bike Insurance: Standalone own-damage bike insurance provides financial coverage if the insured bike sustains any damage due to any kind of mishap.
• Comprehensive Bike Insurance: Comprehensive bike insurance provides coverage for both third-party liabilities and own-damage cover. You can also include different bike insurance add-ons to this plan to further enhance the plan benefits.

Why Should You Buy a Two-wheeler?

Accidents may take place at any time and burn a deep hole in your pocket if your bike is not insured. So, listed below are some of the convincing reasons why you should buy a two-wheeler insurance policy:

• Every bike owner must have a valid two-wheeler insurance policy as per the Motor Vehicles Act of 1988. According to this act, third-party bike insurance is mandatory for all.
• A two-wheeler insurance plan also provides coverage for third-party liabilities. This means if a third party is injured due to the insured bike, then the relevant coverage is offered.
• With a two-wheeler insurance plan, you will also get financial coverage if your bike is damaged due to any kind of mishap.
• Having two-wheeler insurance ensures great peace of mind. So, ride stress-free with a bike insurance plan.

Add-ons Available with IFFCO Tokio Bike Insurance

Some of the add-ons that you can include in your IFFCO Tokio bike insurance plan are:

• Zero Depreciation Cover: The zero depreciation cover is helpful in providing you with the entire claim amount irrespective of the depreciation value.
• No Claim Bonus Cover: This add-on provides additional benefits in case you do not raise any bike insurance claim in a given year.
• Return to Invoice Cover: This type of add-on provides complete financial assistance even if your bike is completely damaged. Irrespective of the IDV, the return of invoice cover provides you will get claim based on the original invoice.

Factors That Affect Bike Insurance Premium

There are a number of factors that affect bike insurance premiums such as those listed below:

• Depending on the type of cover, the bike insurance premium will vary. For instance, the premium of third-party bike insurance is lower than the other two types.
• Another factor that affects the bike insurance premium is the cubic capacity. The higher the cubic capacity of the bike, the more will be the bike insurance premium.
• The age of the bike also affects the bike insurance premium. For instance, the bike premium of an old bike is generally higher.
• IDV or Insured Declared Value also affects the bike insurance premium. The higher the IDV, the more will be the bike insurance premium.
• On adding different accessories to your bike, the bike insurance premium will get higher.

Tips to Reduce on IFFCO Tokio Bike Insurance?

To save on IFFCO Tokio bike insurance premium, here are some useful tips:

• Opt for a higher voluntary deductible which will reduce the bike insurance premium
• Avoid raising claims for minor damages. By doing so, you will able to keep the No Claim Bonus intact and pay a lower bike insurance premium.
• You can also install anti-theft devices that will reduce the risk of your bike from getting stolen and help you in saving on bike insurance premiums.

Inclusions Under IFFCO Tokio Bike Insurance

The different types of coverage offered under the IFFCO Tokio bike insurance plan are as follows:

• If the two-wheeler is lost or stolen
• If there is damage to the bike due to any accident or mishap
• Any damage caused due to fire or explosion
• Any damage due to natural calamities
• Personal accident cover
• Third-party liability cover

Exclusions Offered Under IFFCO Tokio Bike Insurance

Some of the exclusions of the IFFCO Tokio Bike insurance plan are mentioned below:

• Any damage that takes place when riding under the influence of alcohol or drugs or without a valid driving license
• Normal wear and tear of the bike
• Any kind of electrical or mechanical breakdown
• Any damage to the insured bike due to civil war

How to Buy IFFCO Tokio Bike Insurance?

Listed below are the steps in which you can buy bike insurance with IFFCO Tokio:

• Go to the IFFCO Tokio website and click on the bike insurance tab
• Enter details like claim history, model number, bike registration number, and other details
• Select the type of bike insurance plan you plan to buy
• Also, include the add-ons along with your bike insurance plan
• Once you select the desired plan, pay the bike insurance premium, after which you will receive the policy details on your registered email id

How to Renew IFFCO Tokio Bike Insurance?

Here is how you can renew IFFCO Tokio bike insurance:

• Go to the bike insurance renewal page on the IFFCO Tokio page
• Enter details like registration number, bike insurance number, policy expiry date, and others
• Based on the details entered, you will be able to view quote details
• You can add or remove the add-ons as per your requirement and make the payment for the bike insurance plan

Claims Process of IFFCO Tokio Bike Insurance

Listed below are some easy steps in which you can raise a bike insurance claim with IFFCO Tokio:

• First, you need to intimate about the bike insurance claim either by calling on the toll-free number or through the app
• Next, upload the documents such as the bike insurance copy and pictures of the damaged part
• Once the documents and form have been approved by IFFCO Tokio, you will receive information on the same. In the case of cashless claims, your bills will be directly settled and for reimbursement claims, you will first have to spend money from your pocket to get started with the repair process.

Disclaimer: This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.​