IFFCO Tokio Standalone Own Damage Car Insurance

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IFFCO Tokio standalone car insurance policy offers exclusive financial coverage only for the accidental damage or loss caused to the vehicle insured in case of accidents, natural calamities, theft, vandalism, collisions, etc. It does not cover any other liability related to the same car incurred for any third-party damage. 

Suppose you have recently purchased only a third-party car insurance from IFFCO Tokio . In that case, you can get a standalone own damage cover to provide protection to your own car also from damages and losses. However, it is to be noted that standalone four-wheeler car insurance is not mandatory by law and is only meant to provide protection to the insured vehicle.

IFFCO Tokio Standalone Car Insurance vs. Third Party Car Insurance Vs. Comprehensive

FeatureStandalone Car InsuranceThird Party Car InsuranceComprehensive Car Insurance
CoverageOnly covers loss/damage to the insured car.Only covers third-party loss/damage due to accident by the insured car.Covers both third-party loss/damage due to accident and loss/damage to the insured car. 
Mandatory by lawNoYesNo
PremiumPremium is decided by the insurer but is less than comprehensive car insurance.Premium is fixed by IRDAI and is low.Premium is decided by the insurer and is comparatively higher due to greater coverage.
Add-on CoversAdd-on covers availableAdd-on covers are not availableAdd-on covers available
ClaimsClaims are settled as per the policy coverage, where the maximum amount of claim depends on the car IDV.The third-party claim settlement amount is paid as settled by the Tribunal.Claim settlement amount depends on the policy coverage and add-on covers. 

What All is Covered Under IFFCO Tokio Standalone Car Insurance Policy?

Whether you purchase IFFCO Tokio standalone car insurance online or offline, the insurer will indemnify all losses and damages to the vehicle insured or its accessories under the following scenarios: 

  • Fire explosion due to self-ignition or lightning
  • Fire and shock damage due to earthquake
  • Natural calamities such as hurricanes, storms, floods, cyclones, typhoons, hailstorms, frost, etc.
  • Accidents
  • Damage due to landslide or rockslide
  • Theft  or burglary
  • Any malicious act causing damage to the car
  • Damage due to man-made calamities like riot, strike, or terrorist activity;
  • Damage in transit by road, air, rail, inland-waterway, lifts, and/or in elevators

The car insurance payout is subject to deductions due to depreciation. The depreciation rates are based on those specified by IRDAI for various car parts.

What All is not Included Under IFFCO Tokio Standalone Car Insurance?

IFFCO Tokio car insurance standalone does not cover the following scenarios:

  • Any third party loss or damage liabilities due to an accident caused by the insured vehicle
  • Damage to the car in case of driving under the influence of drugs or alcohol
  • Damage to the car in case of driving without a valid driving licence/policy
  • In the absence of correct add-ons with the policy, ex: in the absence of tyre-protect cover, the car will be protected only in case of and during an accident and not after that.
  • Consequential damages or damages caused to the insured vehicle after an accident
  • Damage due to wilful negligence of the vehicle or acts of contributory negligence by the car owner ex: driving a car in a flooded area despite warning.

IFFCO Tokio Standalone Car Insurance Benefits

IFFCO Tokio  standalone four wheeler insurance online or offline, provides a host of benefits as follows:

  • Own damage coverage for the vehicle
  • A variety of damage scenarios covered
  • Quick claim settlement
  • No claim bonus for claim-free years
  • 24/7 support available
  • Cashless repairs facility
  • A vast network of 4300+ repair garages
  • Trusted brand

IFFCO Tokio Standalone Car Insurance FAQs

  • 1. How is the IFFCO Tokio standalone car insurance premium calculated?

    Premium for own damage or standalone car insurance is calculated based on the IDV decided by the insurer, add-ons purchased with the vehicle, and any discounts or additional benefits applicable on the car.

  • 2. How can I reduce my IFFCO Tokio standalone car insurance premium?

    You can reduce the premium costs for your IFFCO Tokio four wheeler standalone insurance premium by increasing the amount of voluntary deductibles or the amount you opt to pay during claims. Also, if you have an insurance policy transfer, remember to transfer your NCB or no claim bonus to the current policy as well.

  • 3. How does my car’s cubic capacity impact my IFFCO Tokio standalone car insurance premium?

    Your car engine's cubic capacity directly impacts the speed of your car. So, the higher your car's cubic capacity, the higher its risk of accidents will be. In turn, the standalone car insurance premium will also be higher. 

  • 4. What are the various factors on which a car’s standalone car insurance premium depends?

    A car's standalone car insurance premium depends on various factors, such as the car‘s IDV, make and model, cubic capacity and age, add-on covers, and No-claims-bonus.

  • 5. Who is eligible to buy IFFCO Tokio standalone car insurance?

    Anyone who has a valid third-party car insurance from IFFCO Tokio or from any other insurer can buy IFFCO Tokio four wheeler standalone insurance online for protection of any damages to their car. 

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