IFFCO Tokio Third Party 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

A third-party insurance policy covers all the damages incurred by the third-party in an accident.  The IFFCO Tokio third-party two-wheeler insurance offers you the most basic type of two wheeler insurance coverage. It covers you from any damage/ losses done to a third-party property, person or vehicle.

How does IFFCO Tokio Third Party Two Wheeler Insurance Policy Work?

Third Party policy of IFFCO Tokio bike insurance extends financial and legal assistance in the event of an accident where your two-wheeler inflicts bodily or material damage to the third- party. The insurer reimburses the claim amount to the third-party at the time of claim settlement. These damages may include material damage to the third-party vehicle, bodily injuries caused to the third-party person and property damage of up to INR 7.5 lakh. The policy even provides coverage in case of the third party’s death or complete disability. You also get legal coverage from the IFFCO Tokio third-party insurance. 

IFFCO Tokio Third Party Two Wheeler Insurance vs Comprehensive Two Wheeler Insurance

AspectsThird Party Bike InsuranceComprehensive Bike Insurance
Extent of CoverA third-party policy covers expenses only for third-party property, vehicle and death/body injuries.It provides esxtensive coverage including third-party liabilities and policyholder’s own damages.
RequirementIt is mandatory by law.It is not mandatory to buy a comprehensive insurance policy under Indian law.
Availability of Add-OnsNo add-ons are available with this policy..Varieties of add-ons are available with this policy.
CostIt is comparatively cheaper.It is comparatively costlier.

How to Buy IFFCO Tokio Third Party Two Wheeler Insurance?

IFFCO Tokio allows you to purchase the policy online or offline. IFFCO Tokio third-party two-wheeler insurance online is hassle-free and user-friendly. To buy the policy, follow the process given below:

  1. Visit a nearby branch or go to the official website of IFFCO Tokio.
  2. You should enter details such as your name, age, date of birth, gender, and occupation. 
  3. Documents such as a copy of your driving licence and registration certificate are required.
  4. Select the quote as per your requirement and buy the policy.
  5. Make the payments using online transactions or cheque.
  6. Collect the information in person as paperwork or on your email ID.

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

  • Property loss of any kind during an accident incurred by third-party.
  • Bodily injury or accidental death of the third party.
  • Accidental vehicle damage of third-party.

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

  • Policyholder’s own damages would not be covered under a third-party policy.
  • Damage/loss to the bike outside the geographical area of the policy.
  • Damage caused as a result of nuclaer wars, mutinies, etc.
  • Damages caused due to driving under the influence of drugs/alcohol.
  • Damages caused due to driving without a licence and insurance policy.

Key Benefits of Purchasing IFFCO Tokio Third Party Two Wheeler Insurance Policy

• Affordable

Given the limited coverage that third-party insurance provides, these policies are affordable when compared to a comprehensive insurance.

• Avoid Penalties

If you’re caught riding a bike without insurance, it is considered illegal according to the Indian traffic rules. You will have to pay a fine or will have to face imprisonment.

• Legal Implication

If the third-party suffers death in an accident, the policy cover will protect you from getting trapped in a criminal case and aid in providing financial support to the third-party.

IFFCO Tokio Third Party Two Wheeler Insurance Review

The online buying process and payment are very easy and smooth. Helpful customer support team, helpful and knowledgeable staff. They always connect with their customers on a timely basis and, most importantly, provide 24*7 support. The website is quite user-friendly and very easy to use. The website is filled with information and useful content with which you could get the solution to all the insurance-related problems.

IFFCO Tokio Third-party Bike Insurance FAQs

  • 1. Who will get compensation in third-party policy, in case there is a death in an accident?

    In a third-party policy, if there is a death in an accident, the company would give compensation to their nominee.

  • 2. How much compensation can be offered in case of the death of a third party?

    The amount of compensation in such cases would be decided by the court of law.

  • 3. Can you bear unlimited liability without IFFCO Tokio third-party insurance policy?

    If you are not financially sound, you might find it difficult to pay off your liabilities arising out of third-party expenses. Therefore, it is recommended to have a third-party policy in place.

  • 4. What is the minimum coverage tenure for IFFCO Tokio third-party policy?

    For new bikes, the minimum coverage period is 5 years. But after that, the policy must be applied for annual renewals. 

  • 5. What is the way to get a duplicate copy of the IFFCO Tokio third-party bike insurance policy?

    In case you have lost/misplaced your insurance cover, then you can request a copy of your policy document from the IFFCO Tokio insurance provider through a written application.

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