IFFCO Tokio Two Wheeler Insurance Add on Covers

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A two-wheeler insurance policy is a great way if you want financial cover for your bike/ scooter/ moped from an accident/mishap. As per the Motor Vehicles Act, 1988, by the Indian Government, it is only obligatory to have third-party insurance for your bike/ two-wheeler. But liability-only policy comes with limited coverage, such as it does not allow you to include add-on covers. But comprehensive insurance will provide you with extensive coverage and comes with a provision to include add-ons. 

Yes, one of the significant advantages of having a comprehensive insurance policy is that it covers your bike against various contingencies and also boosts your vanilla policy. This is possible just because there is an option of add-on covers. 

Add-on cover is an additional feature that provides you extended coverage at an additional premium. You can select the most relevant one(s) from IFFCO Tokio bike insurance add-on covers at the time of buying a bike insurance policy according to your budget and needs. Add-ons can be added to your basic bike insurance policy.

IFFCO Tokio - 8 Important Add-on Covers For Your Bike Insurance Policy

Comprehensive policies are high in demand because they are safe and provide better coverage. But even when you purchase a comprehensive policy, there are some add-ons you can consider. Some of the popular add-ons of IFFCO Tokio two wheeler insurance online you can consider buying for your beloved bike are described below:

1. Zero Depreciation Cover:

If you add the zero-depreciation cover, the insurance company will bear the complete cost for the repair and/or replacement of the bike parts. Without this add-on cover, a policyholder will have to bear the entire cost/value of the depreciation. Thus, including this add-on would be beneficial to get the complete compensation from your insurer at the time of claim settlement.

The depreciation deducted is as follows:

Bike PartsDepreciation Rate
Parts made with rubber, plastic, or nylon 50%
Parts made with fiberglass30%
Tyres and/or tubes50%
Metal partsAccording to the depreciation of the Insured Declared Value of the bike.

2. Roadside Assistance:

It is important to have a roadside assistance add-on in your policy. Two-wheelers, also being machines, can stop working any time. Therefore, to reduce the hassles of your vehicle breakdown at odd hours, it is best to get roadside assistance cover. This will ensure that you will be able to contact and get help at any hour just by getting in touch with IFFCO Tokio company. 

3. Engine Protection Cover:

This cover offers protection against any damage done to the engine caused by oil leakage, natural calamities, or mechanical issues. In case you have a luxury or expensive bike, availing this add-on would be worth it as it covers the repair/replacement cost of your bike’s engine.

4. No Claim Bonus Protection:

For not filing any claim request during the policy period, a policyholder receives an extra benefit of no-claim bonus or NCB. It is one type of reward/discount that insurance companies offer to their clients on renewal for the previous policy year. However, NCB protection cover keeps your NCBs intact even if you raise a claim. 

5. Return-to Invoice: 

If your bike is stolen or damaged, the insurance company compensates you with the bike’s market value, the IDV, or Insured Declared Value. But if you have a return-to invoice add-on with you, you will be able to get the original invoice price of your bike if your bike is deemed a total loss. Not only that, you will also get covered for registration expenses and road tax with this cover.

6. Accessories Cover:

If your bike is studded with additional high-end electrical and non-electrical accessories, you might also want to insure them. This add-on offers cover against any damage or loss of those valuable accessories. You will just have to provide an estimate of the total expense of the accessories during the purchase of your policy.

7. Consumables Cover:

Usually, consumables like oil, nuts, bolts, etc., are not covered under insurance at the time of claims. With the help of this add-on, you don’t have to spend on consumables that will be covered, however minor they might be! In addition, this add-on covers expenses towards consumables unfit for use arising due to damage in an accident.

8. Key Loss Cover:

The key replacement add-on cover in the two-wheeler insurance policy compensates the policyholder for losing bike keys. Not only that, but it also offers a spare key in the minimum possible time. 

IFFCO Tokio Bike/Two Wheeler Insurance Add on Cover FAQs

  • 1. Is it mandatory to buy IFFCO Tokio add-ons?

     No, add-ons are optional.

  • 2. Do you need to bear extra cost for IFFCO Tokio add-on covers?

    Yes, you need to bear the extra cost for add-ons.

  • 3. What are the most popular add-on covers offered by IFFCO Tokio?

    Zero Depreciation Cover, No Claim Bonus or NCB Protection and Return-to Invoice – these are the most popular add-ons.

  • 4. Can you transfer your accumulated NCB from the previous insurer to IFFCO Tokio?

    Yes, IFFCO Tokio allows the transfer of NCB from the previous insurance company. A policyholder will continue to receive all his/her benefits with IFFCO Tokio if the policyholder can produce the last renewal notice, declaration of no-claim bonus, and documents related to the entitlement of NCB.

  • 5. Is a towing facility available with IFFCO Tokio roadside assistance cover?

     Yes, IFFCO Tokio provides a towing facility as roadside assistance.

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