Commuting by two-wheeler is not only the most popular means of transportation in India, but it also serves a crucial demand in both urban and rural areas. Two-wheelers in India have changed over time to satisfy the demands of a certain client base. Bikes and scooters have all experienced significant technological advancements and are now available to all segments of the client base. As a result, they have multiplied and become a vital part of people's everyday lives, particularly among the middle and lower classes in the Indian economy. IFFCO-Tokio provides a variety of insurance solutions to meet the demands of financial protection.
First of all, know that having a bike insurance policy is a great safety measure for you. There are a number of benefits of having a two-wheeler insurance:
- It shields you from third-party liability.
- Allows you to ride your motorcycle lawfully on Indian roads.
- Delivers coverage against natural disasters such as floods, earthquakes, hurricanes and others.
- Protects you from man-made disasters such as fire, theft, rioting, and so on.
- Provides compensation of up to INR 15 lakh in the event of an accident resulting in disability or death under Personal accident cover.
Significance of Bike Insurance
Two-wheeler insurance policies protect you from the financial consequences of accidents, natural disasters, and other unfortunate events that may damage your vehicle. A bike insurance policy guarantees that your vehicle will be restored to its former condition without breaking the bank.
In the event of an accident, you may accidentally hurt the third-party person or damage their property. Fortunately, your bike insurance policy will also cover your legal obligations for third-party damages. This means that the insurance company will reimburse others for the losses and/or injuries caused by you.
According to the Motor Vehicles Act of 1988, you must obtain at least third-party bike insurance to be legally safe in India. And, if you are thinking of buying a policy from a reputed insurer, IFFCO-Tokio is a name you can consider.
Checkout the Key Benefits of IFFCO-Tokio Bike Insurance Policy
- Save up to 70 % premium
- Get up to 50 % discount with NCB
- Claim easily and get the settlement within 4 hours through the app
- 95.80% claim settles, a great ratio!
- 24/7 claim assistance customer service
- 4300+cashless garages around India
- Customizable bike insurance add-on covers
Why Should You Pick IFFCO-Tokio?
The two-wheeler insurance policy serves as an extension of your safety equipment. It keeps you secure no matter where the road takes you! It covers your bike from the headlight to the taillight!
Talking about IFFCO-Tokio, it leverages innovation and technology to give you more timely and easy insurance options. For example, your policy can be issued instantaneously via their distribution networks' cellphones. You may also use the QCS App to expedite your bike insurance claim and have up to INR 20,000 paid to your bank account in a matter of minutes - all with a few taps and clicks on your mobile phone.
- There are 4300 cashless garages.
- In FY19, 8.61 lakh claims were resolved.
- 95.80% of cases were successfully resolved.
- 20,000 branches and agents in India.
- 4 hours claim settlement process
- Its aims involve hassle-free procedures and minimal documentation for quick onboarding.
- Pan India support desk provides 24x7 assistance with different queries and claims linked to their IFFCO Tokio bike insurance plan.
- A variety of emergency support services are available for a modest extra charge through the IFFCO Tokio bike insurance plan 'On Road Protector Coverage' in addition to this plan.
- Along with this Plan, IFFCO Tokio 'Value Auto Coverage' offers a unique bouquet of additional benefits for a little additional price.
- Enrollment, renewal, and a variety of additional services are available online.
- Instant digitally signed policy documents are available in IFFCO-Tokio offices, POS centres, and online.
- There will be no-claim bonus for customers who have made a claim under the plan for a particular period of time and have renewed their plan at least 90 days before the expiry date.
- No-claim bonus with their existing policy is an option for customers who want to transfer their current insurance plan from another insurer.
- Coverage for accessory loss depending on an extra premium.
What Does an IFFCO-Tokio Bike Insurance Policy Cover and Offer
- Any loss or damage to the vehicle caused by natural or man-made disasters. Natural disasters such as fire, explosion, self-ignition, or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, and rockslide are covered by the IFFCO-Tokio two-wheeler insurance policy.
- Man-made tragedies include any loss or damage caused by events such as burglary, theft, riot, strike, malicious act, accident by external means, and any damage during transportation by road, rail, inland canal, lift, elevator, or air.
- An individual owner of the vehicle insured is covered for personal accidents up to INR 15 lakh when travelling in, mounting or dismounting from the vehicle. The coverage includes death and any type of permanent disability.
- Extra coverage is offered for the pillion rider at the same additional rate.
- Complete protection from legal liability originating from unintentional damages, permanent injury/death of a person, and/or property damage.
- Reimbursement of expenditures incurred as a result of an accident involving the insured vehicle, including removal/towing and redelivery of the vehicle.
- Other significant extension cover types are also available at an extra charge.
- Coverage if electrical/non-electrical accessories are lost or damaged.
- The expenditures for the replacement of a part due to an accident are also compensated, subject to a depreciation deduction. 50 percent of net expenditures for all rubber, nylon, plastic, tyre, and battery parts; however, no expense should be paid for all glass parts.
- In the event that the motorbike becomes incapacitated due to loss or damage covered by this plan, IFFCO-Tokio will fund the reasonable cost of protection, transportation to the nearest repairers, and redelivery to the insured, not to exceed INR300/- in any one accident.
- Following only authorization for the repair of the damaged two-wheeler, the insurance shall undertake the necessary and reimburse the expenditure subject to the projected cost of such repair is less than INR 150/-.
- The bike insurance company should be provided with a precise estimate of the cost as soon as possible, and the insured must cooperate with the company to ensure that such a repair is essential and that the price is acceptable.
Conclusion
If you want total financial protection and security for your vehicle, a comprehensive bike insurance plan is unquestionably the finest two-wheeler insurance coverage. You can select add-on options in addition to coverage for damage repair, theft, personal injury, incapacity, or death. Zero depreciation, pillion rider, emergency on-the-spot aid, medical support, and more riders are included. In India, IFFCO-Tokio General Insurance firm offers a low-cost two-wheeler insurance policy online with a host of benefits to enjoy.
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