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IFFCO Tokio Comprehensive Bike Insurance Policy
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IFFCO Tokio comprehensive two-wheeler insurance policy is all-inclusive insurance that protects against third-party loss and damage, as well as own damages. This package policy is beneficial to have as it not only gives peace of mind by covering third-party liabilities but also comes with wider coverage benefits.
How does IFFCO Tokio Comprehensive Two Wheeler Insurance Policy Work?
In India, comprehensive two-wheeler insurance is optional, while third-party liability cover is compulsory by the Government of India. But liability only policy has limited coverage. This is the reason that no one feels safe now-a-days without an extensive two-wheeler insurance policy for their ride. The comprehensive policy also ensures the safety of your bike from the damage caused by intentional man-made mishaps as well as unexpected natural disasters. Moreover, an IFFCO Tokio comprehensive two-wheeler policy in case of complete loss of your bike, compensates the value assured for the policy. It compensates for the costs of your two-wheeler repair. On the other hand, some insurance companies offer cash-free assistance at their network garages.
IFFCO Tokio Comprehensive Two Wheeler Insurance Vs Third Party Two Wheeler Insurance
|Aspect||Comprehensive Bike Insurance||Third Party Bike Insurance|
|Coverages||It offers coverage for damages caused by both the insured’s bike and third parties.||It only offers coverage for damage caused to third parties.|
|Add-on||The policyholder can opt for add-ons like zero depreciation cover, roadside assistance, etc.||No add-ons are available.|
|Premium||The policyholder needs to pay a little more premium.||The insured has to pay less premium.|
|Type||Optional||Mandatory by law.|
How to Buy IFFCO Tokio Comprehensive Two Wheeler Insurance?
You can buy comprehensive policy of IFFCO Tokio bike insurance online by simply following a few steps-
- Either go to the official website of IFFCO Tokio comprehensive two-wheeler insurance or open an insurance aggregator website.
- Go to the ‘two-wheeler insurance’.
- Provide information like name, mobile number, email, and gender.
- You also need to enter your bike details such as manufacturing year, model, variant, registration details, etc.
- Choose the policy most suitable for you.
- Select the add-ons (if you wish to add any).
- Check the premium amount.
- Pay the amount via debit/credit card or net banking.
- You will get an email with a soft copy of your bike insurance policy.
What is Covered Under IFFCO Tokio Comprehensive Two Wheeler Insurance Policy?
- Accidental Own Damages- This complete policy offers 360-degree protection in case you(insured) or your vehicle faces accidental damages.
- Coverage Against Natural Disasters - Under a comprehensive insurance policy of IFFCO Tokio, you can get coverage against the loss that occurred to the insured’s bike due to natural disasters like earthquakes, hurricanes, floods, tsunamis, etc.
- Coverage Against Man-made Mishaps - The comprehensive bike insurance policy offers compensation against the loss that occurred by man-made disasters like theft, riots, burglary, vandalism, etc.
- Third-party Liability Coverage - Both the legal and financial liabilities for causing damages/harm to third-party properties or persons, are compensated under this coverage.
- Theft and Total Loss-If your vehicle gets stolen or faced total loss, this policy compensates you for the same.
- Fire- In case of your bike catches or if it is a case of self-ignition, this policy got you covered.
What is not Covered Under IFFCO Tokio Comprehensive Two Wheeler Insurance Policy?
- Normal wear & tear and electrical & mechanical breakdown.
- The bike was driven without a valid licence or policy.
- The accident took place because of the influence of drugs or alcohol.
- No claim for tyre or tube damages is compensated as long as the insured two wheeler is not damaged.
- The loss/damage of the insured’s bike has occurred beyond the area as mentioned in the insurance policy documents.
IFFCO Tokio Comprehensive Two Wheeler Insurance Policy Benefits
- It has more than 4,300 garages all over India.
- 24 hours of assistance.
- Availability of several add-on covers.
- Offers an exclusive ‘Value Auto Coverage’ benefit along with the policy.
- No-claim bonus for claim-free previous year
IFFCO Tokio Comprehensive Two Wheeler Insurance Policy Reviews
The website is very easy to navigate and also easy to look for bike insurance policies. The user-friendly app helps you to manage all your policies on the go.
The buying process of IFFCO Tokio comprehensive bike insurance is quick and easy. There are no complications involved. You can buy the policy in no time. The policy renewal process can also be completed within a few minutes. You just need a mobile phone and internet connection.
Add ons for your Two Wheeler Insurance
IFFCO Tokio Comprehensive Two Wheeler Insurance FAQs
1. Which factors affect IFFCO Tokio comprehensive bike insurance?
• Policy type
• The make, model and variant of the bike
• Policy tenure
2. What is the claim settlement of IFFCO Tokio?
The claim settlement ratio of IFFCO Tokio is 95.82 for FY-21.
3. Is it a good decision to buy IFFCO Tokio comprehensive bike insurance for an old bike?
The premium amount also declines when your two wheeler gets older. However, you should always focus on its usage when it comes to buying an old bike. If you are using your bike regularly, you may opt for comprehensive insurance coverage, but if you apply it sparingly, you can opt for third-party insurance.
4. How do you know if your IFFCO Tokio bike insurance is comprehensive?
Your bike insurance policy document is proof that you have a comprehensive insurance policy.
5. Can you customize your IDV for IFFCO Tokio comprehensive two-wheeler insurance?
Yes, you can customize IDV for your bike. But IDV comes with its pros and cons. You will have to pay a higher premium when you declare a higher IDV. On the other hand, if you opt for a lower IDV, it reduces the compensation that you get during the claim.
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