IFFCO Tokio Standalone Own Damage Bike Insurance

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IFFCO-Tokio Two Wheeler Insurance Highlights

IFFCO Tokio (Two Wheeler Insurance)
IFFCO Tokio General Insurance is one of the largest and most trusted private insurer in India. IFFCO Tokio has earned the trust of over a crore customers in its 20 years of service. IFFCO Tokio has digitalised customer journey for all policy transactions and thus providing a contact-less service. Be it instant policy issuance or quick claims settlement, all can happen with a few clicks or taps on your smartphone.
Claim Settlement Ratio
Video Claim
-Available at 4300+ Cashless Garages
close -Available at 4300+ Cashless Garages
Spot Claims
Available upto Rs 10,000

This policy offers own-damage coverage to the insured vehicle only. After the Insurance Regulatory and Development Authority of India (IRDAI) agreed on the purchase of a standalone two-wheeler insurance plan, it was first introduced in September 2019. If you already have third-party bike insurance, owning this bike insurance policy will be an added benefit as it would become a package deal for you.

How does IFFCO Tokio Standalone Two Wheeler Insurance Policy Work?

Riding a two-wheeler may be risky. This can be a reason for your family to worry about your safety. If you buy standalone two-wheeler insurance, it will protect you as well as your two-wheeler in unexpected situations. These include cases of theft, accidents, fires, and natural or man-made calamities. Bought alongside your mandatory third-party insurance, it can assure you all-around protection.

For example, let’s say you’ve recently bought a new bike and instantly opted for a 5 years third-party bike insurance policy to get protection against legal and financial third-party liabilities. 

But after one year, you will realize the importance of protecting your bike from damages and losses too. But, you will have to wait until the renewal period comes, for the upgradation of your third-party cover to a comprehensive bike insurance policy.

In such a situation, you can just buy IFFCO Tokio standalone bike insurance online for your bike instead. This way, you will be able to protect your bike too at a reasonable rate. 

Difference Between IFFCO Tokio Standalone Two Wheeler Insurance, Third Party Two Wheeler Insurance and Comprehensive Two Wheeler Insurance

Take a look at the table of comparison below.

AspectIFFCO Tokio Standalone Bike InsuranceIFFCO Tokio Third Party Bike InsuranceIFFCO Tokio Comprehensive Bike Insurance
CoveragesIt offers coverages against own damages. It provides compensation for only liabilities regarding third-party property and life such as bodily injuries and death. It provides you with all-around protection. It takes care of both own damage expenses as well as third-party losses.
Add-onIt provides several add-on covers to the policyholders to choose from.Add-on covers are not available.It also offers various add-ons covers. Policyholders can choose from them according to their preferences.
CostAs it provides better coverage, it is a more expensive policy than third-party insurance.It is the least costly as it has the most basic coverage.It is the most costly insurance as it covers both, third-party liabilities and own-damage expenses.
LegalOptionalMandatory by lawOptional

What All is Covered Under IFFCO Tokio Standalone Two Wheeler Insurance Policy?

The followings are the aspects that are offered under standalone policy of IFFCO Tokio bike insurance policy (Inclusions):

  • Accidents that occur due to collisions.
  • Damages/losses caused to the bike due to a fire/explosion.
  • Total loss or theft cases.
  • Natural or manmade calamities that cause damage to the two-wheeler.

What All is not Covered Under IFFCO Tokio Standalone Two Wheeler Insurance Policy?

The followings are the aspects that are not offered under IFFCO Tokio's standalone bike insurance policy (Exclusions):

  • Third-party liabilities. 
  • Normal wear and tear of the vehicle.
  • If you ride your bike with an invalid driving licence or policy.
  • If the bike breaks down due to a mechanical or electrical failure.
  • If illegal driving leads to accidents and damages the bike.
  • Usual two-wheeler depreciation.
  • Cases where there are accidents outside the border of the country.

IFFCO Tokio Standalone Two Wheeler Insurance Policy Benefits

The benefits of purchasing an IFFCO Tokio bike Insurance policy are described below:

  • The standalone cover offers its damage costs on several occasions.
  • The insurance provider offers NCB for every claim-free year.
  • You may select from several add-on covers with your damage cover.
  • The policy keeps you and your vehicle financially protected against various mishaps.

IFFCO Tokio Standalone Two Wheeler Insurance Policy Review

The company offers outstanding services when it comes to buying standalone bike insurance. And, in case you want to renew your policy, you can easily do so online in just a few minutes. The faster claim settlement, easy renewal and 24x7 customer support makes IFFCO Tokio an ideal choice to buy standalone OD policy.

IFFCO Tokio Standalone Bike Insurance FAQs

  • 1. Is zero depreciation cover available with IFFCO Tokio standalone bike insurance ?

    The zero depreciation cover can be availed with your basic standalone bike insurance policy at an additional premium as an add-on.

  • 2. Can IFFCO Tokio cancel my standalone bike insurance policy?

    Yes, the company can cancel the policy on the grounds of moral hazard, fraud,  non-cooperation or misrepresentation by the owner of the insured bike. In such a case, IFFCO Tokio sends 7 days’ notice to the insured at the provided address.

  • 3. In IFFCO Tokio standalone bike insurance, what does the specific term two-wheeler mean?

    Two-wheeler basically means vehicles like motorcycle/scooter/autocycle or any other motorized automobiles that have maximum two wheels.

  • 4. Can I renew by IFFCO Tokio standalone policy online?

    Yes, you can instantly renew your policy online at the official website of IFFCO Tokio.

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