IFFCO Tokio General Insurance

A leading general insurance provider, IFFCO Tokio General Insurance Company Limited, is a joint venture between IFFCO, (Indian Farmers Fertilizer Co-operative) and Tokio Marine Group. Both companies have made a mark of their own across the globe, with IFFCO being the largest co-operative society in the world and Tokio Marine the biggest insurer in Japan. With such expertise, IFFCO Tokio General Insurance Company Limited is gradually moving to the top of the Indian insurance market. 

The company offers: 

• IFFCO Tokio Car Insurance
• IFFCO Tokio Two-wheeler Insurance
• IFFCO Tokio Health Insurance
• IFFCO Tokio Travel Insurance
• IFFCO Tokio Home Insurance
• IFFCO Tokio Business Insurance
• IFFCO Tokio Micro & Rural Insurance
• IFFCO Tokio Speciality Insurance

To understand how IFFCO Tokio Insurance works, let us take a closer look at these plans

IFFCO Tokio Car Insurance

The Motor Vehicle Act, 1988 mandates that every motor vehicle must have vehicle insurance to run on the Indian roads. There are many plans offered under IFFCO Tokio Car Insurance, to help you cover your car with the right kind of insurance.

• IFFCO Tokio Third-Party Liability Car Insurance
  The most basic kind of insurance, third-party insurance is mandated by the government, under the Motor Vehicle Act, 1988. The damages or injury that are caused to another person or his property because of your car are called third-party liabilities. It should be kept in mind that third-party insurance only covers the third-party liabilities, the damages caused to your car are not covered under this policy.
• IFFCO Tokio Comprehensive Car Insurance
  Just as the name suggests, a comprehensive policy offers broad coverage which includes third-party insurance and own-damage and thus, helps in safeguarding you from the financial burden that you would have to undertake in case of an accident. It covers the repair costs of your vehicle along with the damages and injury caused to the third-party. A comprehensive car insurance policy, though not compulsory but surely more popular as it is an all-inclusive policy that includes the damages that are caused to your car, which includes the following:
  1. Theft
  2. Natural disasters- floods, earthquakes, landslides etc
  3. Man-made Disasters - riots, vandalism, terrorist activities
     A comprehensive policy
• IFFCO Tokio Standalone Own-Damage Car Insurance
  Standalone Own-Damage cover can be purchased along with third-party liability insurance. With this cover, you can get an all-inclusive cover against all unpredictabilities of the road. The OD cover will not only cover damages/ loss to your car but also the third-party liabilities.
• IFFCO Tokio Comprehensive Insurance Zero-Dep Cover
  Zero Depreciation is basically an add-on cover that reimburses the repairs without taking depreciation into consideration. With this plan along with comprehensive coverage, you can nullify the depreciation costs.
• Personal Accident Cover
  In case an accident causes death or permanent disability of the owner-driver, compensation up to INR 15 lakhs will be given.
• Add-on Features
  When you opt for comprehensive or standalone own-damage insurance cover, you have the option to include 13 add-ons. Some of them have been explained below:
  1. Zero Depreciation Cover
     You would no longer have to bear the losses that occur due to depreciation on the car parts
  2. Engine Protection
     Otherwise uncovered, this add-on would cover the damage to the engine, and its parts such as piston, crankshaft, cylinder, pins, gearbox, etc.
  3. No Claim Bonus Protection
     Even if you make a claim, you would not lose out your NCB
  4. New Vehicle Replacement
     In case of total loss or theft, the company would provide you with the on-road price of your car as compensation
  5. Roadside Assistance 
     Call the customer care and mechanical help would be on its way

IFFCO Tokio Two-Wheeler Insurance

Having two-wheeler insurance is mandatory, but when you know the numerous benefits it brings with it, insurance becomes more of a necessity than just a compulsion. Let us take a look at the various aspects of IFFCO TOKIO Two-Wheeler Insurance:

• IFFCO Tokio Third-Party Liability Two-Wheeler Insurance
  Under the Motor Vehicle Act, 1988 third-party insurance is mandated for all motorised vehicles. It covers the damages or injury that are caused to another person or his property because of your bike/two-wheeler. It should be kept in mind that third-party insurance only covers the third-party insurance, the damages caused to your bike will not be covered under this policy.
• IFFCO Tokio Comprehensive Two-Wheeler Insurance
  A comprehensive policy offers much broader coverage than third-party liability insurance as it includes third-party insurance as well as own-damage. It covers the repair costs of your vehicle along with the damages and injury caused to the third-party. Comprehensive two-wheeler insurance is an all-inclusive policy that includes the damages that are caused due to the following:
  1. Theft
  2. Natural disasters- floods, earthquakes, landslides etc
  3. Man-made Disasters - riots, vandalism, terrorist activities
• IFFCO Tokio Standalone Own-Damage Two-Wheeler Insurance
  Standalone Own-Damage cover can be purchased if you also have third-party liability insurance. With this cover, you can get an all-inclusive cover against all unpredictabilities of the road. The OD cover will not only cover damages/ loss to your bike but also the third-party liabilities.
• IFFCO Tokio Comprehensive Insurance Zero-Dep Cover
  Zero Depreciation is basically an add-on cover that reimburses the repairs without taking depreciation into consideration. With this plan, you can nullify the depreciation costs.
• Personal Accident Cover
  In case an accident causes death or permanent disability of the owner-rider, compensation up to INR 15 lakhs will be given.
• Add-on Features
  Some of the common add-on covers are:
  1. Zero Depreciation Cover
     You would no longer have to bear the losses that occur due to depreciation on the two-wheeler parts
  2. No Claim Bonus Protection
     Even if you make a claim, you would not lose out your NCB
  3. Return to Invoice
     In case of total loss or theft, the company would provide you with the on-road price of your car as compensation

IFFCO Tokio Motor Insurance also Covers:

   D.  IFFCO Tokio Health Insurance 

A health insurance policy helps in taking care of you as well as your family members’ health. IFFCO Tokio offers multiple choices when it comes to health insurance and almost all the plans are tailor-made keeping in mind the customer’s health insurance needs, let us take a look at the various plans and their highlighting features:

IFFCO Tokio Travel Insurance

Whether going on a business trip or a vacation, whenever you travel, travel insurance is a must. IFFCO Tokio not only helps you deal with unpredictable emergencies but also gives you the confidence of travelling more confidently, let us take a look at the plans offered by the company:

IFFCO Tokio General Insurance Company Premium Payment

• Online 
  To pay your premium online, you can visit the official website, or click https://www.iffcotokio.co.in/, select the plan you have to pay for, provide the coverage details and check the premium amount. Pay the premium through an electronic mode.
• Offline
  To pay the premium offline you can either visit the nearest branch or make the payment through a trusted company agent. To locate a nearby branch, click https://www.iffcotokio.co.in/contact-us?tab=branch

IFFCO Tokio General Insurance Company Renewal Process

1. Car and Two-wheeler Insurance
   • Online Method
     To renew your car insurance online, you can visit the company website or click https://www.iffcotokio.co.in/portal/private-car/renewal. Click https://www.iffcotokio.co.in/portal/two-wheeler/renewal for your two-wheeler policy renewal. You would have to enter details such as your vehicle registration number, policy number, your mobile number and email address. You can modify the policy at the time of renewal, for instance, if you wish to opt for an add-on you can do it now.
   • Mobile Portal
     Your motor insurance policy via the Mobile portal. To get the link on your mobile,  SMS RENEW to 575758
2. Health Insurance
   To renew your health insurance policy, you need to visit the official company website or click  https://www.iffcotokio.co.in/portal/health-policy/renewal. Enter your Health Policy number, first name and last name and click ‘Submit’. You will now be able to make any changes if you want in your plan, once you do that you can pay the premium for renewal.

IFFCO Tokio General Insurance Company - Renewal of Expired Policy

Once your insurance policy completes the policy tenure, a 30-day Grace period begins, it is recommended that you renew your policy before the expiry date, as a claim raised during the grace period is not covered. Keep in mind that with the invalid policy would not allow you to make any claims, you would end up paying all the charges yourself. You would also lose all the discounts and bonuses that may have been collected over the claim-free years if any. However, if you need to renew an expired policy, follow the steps given below:

1. Car and Two-wheeler Insurance
Get in touch with the customer care to raise a request for a renewal. On a date and time suitable, a surveyor from the company will be sent to assess your vehicle. After approval from the company, you will receive further instructions to pay the premium. The premium will include the unpaid premiums and the interest, you may also have to pay a penalty as per the terms of your policy. Once the payment is received your policy will be renewed. You may be asked to submit the following documents:

• Govt authorised ID proof
• Copy of previous Insurance Policy papers
• Copy of the RC
• Driver’s License

2. Health Insurance
The health insurance policy must be renewed during the 30-day grace period. Get your policy renewed if you wish to continue enjoying the coverage benefits. If your policy has lapsed and you are still in the grace period, get in touch with the customer care and they would guide you on making the payment for the renewal. The premium will include the unpaid premiums and the interest, you may also have to pay a penalty as per the terms of your policy. Depending on the kind of policy you have, medical screening may or may not be required.

IFFCO Tokio General Insurance Company Claim Process

For making any kind of claim, you first need to notify the company, for which you can either call the customer care at 1800 103 5499 or send an email to support@iffcotokio.co.in. To see your claim status or Register a Claim, you can also click https://www.iffcotokio.co.in/?homenav=support#claims. You can also SMS ‘CLAIM’ to 65161, and a claim representative will get back to you. 

1. Car and Two-wheeler Insurance
Once you report the claim, you will receive a Claim Form. Your vehicle will then be inspected, thereafter, your car can be taken for repair. For making a claim, you would be required to submit copies of your Driver’s License, RC and FIR, if lodged. Depending on what garage you go to, your claim will be processed. :

• Cashless Claims
  At a network garage, after the inspection from the surveyor, your vehicle will undergo repair. The claims will be settled with the garage directly.
• Reimbursement  
  If you get your vehicle repaired at a non-network garage, a company surveyor will inspect your vehicle. Post-repair you would clear the bills yourself. You would then have to submit bills and receipts to the surveyor/ branch/ the company website. Your claim would be settled within a few working days.

2. Health Insurance

• Cashless Claim
  When hospitalised at a network hospital, you would have to present your health card, authorisation form along with a few relevant documents (that are asked for) at the help desk. You would have to fill in the cashless claim form along with a few relevant documents. Once the claim is approved, the bills will be settled directly by the company.
• Reimbursement
  After informing the company about your hospitalisation at a non-network hospital within 48 hours, you can ask for a reimbursement by submitting all bills and reports of the treatment with the company along with the claim form.

IFFCO Tokio General Insurance Company Profile

As seen above, IFFCO Tokio General Insurance offers multiple ranges of insurance products. With over 20,000 agents the company has a network across the length and breadth of the country. In the financial year 2018-19, the company recorded an Incurred Claim Ratio of 88%. The company has also won various awards, Private Sector General Insurance Company of the Year Award and P&C Insurer of the Year Award, to name a few. 

IFFCO Tokio General Insurance Company Limited-Customer Care Details