IFFCO Tokio General Insurance Company Limited is a leading general insurance company in India. The company was incorporated in the year 2000. It is a joint venture between Tokio Marine, Indian Farmers Fertilizer Co-operative (IFFCO), and Nichido Fire Group. This joint venture was formed with 51% holding of IFFCO and 49% holding by Tokio Marine Group. The cost of IFFCO Tokio car insurance varies depending on the type of policy that you choose to buy.
IFFCO Tokio Car Insurance plan is your one stop protection plan for your car. IFFCO Tokio was also the first company in India to offer property and liability insurance. Also, IFFCO Tokio General Insurance was the first to establish Bima Kendras across rural India. In the motor division, the insurer provides car, two-wheeler, commercial vehicle, value auto coverage along with 24x7 on road assistance.
How IFFCO TOKIO Car Insurance Works?
IFFCO-Tokio General Insurance offers two types of car insurance policies to customers. Further, the insurer offers cashless settlement at over 4,300 network garages, add-on covers, a range of discounts, and an easy purchase/renewal process.
IFFCO Tokio caters you the coverage against physical damage to your car, personal loss or damage, injury, and third party liability like personal injury or death and property damage. A comprehensive car insurance policy is the ideal plan for optimum protection cover of third party liability, personal liability, and a popular add-on for easy claim settlement. Choose the right insurance policy according to your vehicle requirement.
This fully Government owned insurer offers a wide range of effective motor insurance products which can be helpful in dealing with different types of situations on road. So if you own a car, you can buy Iffco Tokio car insurance policy without any second thought. Investing in a motor insurance with Iffco Tokio Insurance will be a perfect decision for you.
|Claim Settlement Ratio
|Third-party Liability Cover
||Up to 7.5 lakhs
||Instant digital copy of policy
||Quick and hassle-free claim settlement
||Surveyors for immediate claim initiation
||On-road protector coverage
Why choose the IFFCO Tokio Car Insurance Plan?
IFFCO Tokio Car Insurance provides comprehensive coverage to its policyholders, providing them to protect their cars from accidents, fire, theft, natural disasters, man-made disasters, and other unexpected events. It provides two types of car insurance plans which comprise third party car insurance policy and comprehensive car insurance policy at affordable premiums rates.
In order to expand its coverage, it also offer different types of add-on covers such as zero depreciation, roadside assistance, coverage for CNG or LPG fuel kit, coverage for loss or damage to electrical or non-electrical accessories, engine protection, No Claim Bonus (NCB) protection, and so on, with standalone own-damage car insurance plans and comprehensive car insurance plans. A personal accident cover is also available to buy, with compensation available in the case of death of the owner or disability as a result of an accident.
||Key Features Benefits
||Burglary, theft, accidental external damage, etc.
|Personal Accident Cover
||Up to 15 lakhs
|No Claim Bonus
||Up to 50%
||Natural calamities, physical damage, theft, etc.
||App based claim settlement within 4 hours
||Available 8 Add-ons
|Own damage Cover
|Damages to third-party
|Coverage for Loss or damage
- Electrical and non-electrical accessories
- CNG/LPG fuel kit
- Flood, storm, lightning, earthquake, landslide, etc.
What is covered under IFFCO TOKIO Car Insurance Policy?
- Damage caused due to fire, explosion, and self-ignition.
- Natural calamities like a hurricane, floods, earthquakes, storm, cyclone, etc.
- Loss of procession due to theft, vandalism, burglary, riots, loss in transit by road, inland waterways, external physical damage, and strikes.
- Third party accident, third party property damage (third party damage claim is restricted to 7.5 lacs).
- The insurance coverage covers the damages caused due to collisions and accidents.
- Get personal accidental claim of 2 lacs including co-passenger cover.
What is not covered under IFFCO TOKIO Car Insurance Policy?
- Planned damage liability, breach of policy will lapse the policy
- A normal course of mechanical and electrical breakdown, wear & tear, flat tires.
- A driving vehicle without a valid driving license
- Damage of tires without any accidental damage will claim you 50% of the damage cost.
IFFCO TOKIO Car Insurance Add-on Covers:
Zero Depreciation Cover: Just like other things, your car and its parts also experience depreciation. Depreciation refers to the loss in value due to wear and tear of time. By default, the liability to bear the depreciation charge of the car is of the car’s owner and the depreciation charge is thus deducted from the claim amount by the insurer at the time of a claim settlement. However, when you opt for this add-on, you can relieve yourself from bearing the depreciation applicable on your car and all its plastic and metal parts at 100% except tyres, tubes and batteries which are covered at 50%.
Roadside Assistance: Think about the hassles you might put up with when stranded in the middle of nowhere? There could be a flat tyre situation, mechanical breakdown or engine failure. This is when a roadside assistance rider comes of great help. Immediate help is sent to you and services like towing, refuelling, key replacement and other valuable services are offered to you.
No Claim Bonus: No Claim Bonus can well be described as a bonus offered when you make no claims in the previous year. However, you do lose the privilege of opting for a claim. This add-on ensures that your No-Claim Bonus is safeguarded even if you proceed with a claim.
New Vehicle Replacement: With this add-on, in case of total loss or theft of your vehicle, the insurance provider will provide you with the on-road price of your car as compensation. Whereas, with a normal plan, you would only get the IDV of your car and this decreases every year.
Types of IFFCO Tokio Car Insurance Policies in India:
1. Third-party liability Insurance
The insurance policy aims to cover for the damage or bodily injuries that your vehicle may inflict on other vehicles, property or pedestrian. It is basic car insurance, and it is mandatory to have a third-party liability insurance cover in India.
- Coverage for third party legal and financial liabilities
- Protection for your finances
- Ability to drive while being legally complaint.
2. Comprehensive car insurance policy
A comprehensive car insurance policy is optional in India. The comprehensive policy comes with a wide range of coverage that can be beneficial to you in the long run. A comprehensive policy not only protects your car from damages like fire, theft, riots, floods, earthquake etc. It also gives third-party liability coverage.
- It offers third-party damage coverage that involves your car.
- It covers the damages that done to your vehicle in case of an accident.
- Covers against the damages to the vehicle because of vandalism, theft, fire, riots etc.
- Cashless payment system if you repair your vehicle from partner garages of the insurance company.
- No claim bonus or NCB is offered on renewal if you do not claim during a policy year.
3. Own damage:
Damage caused due to an accident can get claimed by the general insurance company. The claim amount may vary depends on the policy you choose.
A comprehensive insurance policy protects you from damages caused due to floods, earthquakes, theft, riots, terrorist attack, and other natural calamities. Car insurance India policy has tie-ups with various network garages all over India, where you can get cashless services for repairing your damaged car.
4. Personal accident cover:
This coverage is helpful for the policyholder in case of an accident while you are in drive. All medical expenses and the expenses incurred for surgeries, hospital charges will be claimed by the policyholder.
||Third party insurance
||Comprehensive insurance with zero dep cover
|Damage to third-party vehicle
|Damage to third-party property
|Personal accident cover
|Injuries/death of a third party person
|Damage/losses to own car in case of a natural calamity
|Damage/losses to own car due to accident or fire
|Theft of your car
|Customize your IDV
|Coverage against depreciation
How to Buy IFFCO TOKIO Car Insurance Policy Online?
- Get onto the IFFCO-Tokio website.
- Create an account on the website.
- Log onto your account using your credentials.
- Browse through different car insurance policies and riders.
- Select the policy and riders that best suit your needs.
- Fill in the form and initiate payment through credit card, debit card or net banking.
- The car insurance policy is sent on the go to the email ID you have shared.
Things to Remember before buying Car Insurance policy:
Buying car insurance online is a concern, what you see is what you get. One of the best benefits of buying car insurance online is that you can validate your own premiums with different car insurance companies.
You can explore your insurance provider's what they provide and Review Our Portal to look at how we assist our customer's needs through car insurance policy covers. Policybachat leads you to choose the best car insurance policy needs.
Comprehensive coverage: This Comprehensive coverage includes cover against damages to your own car or damages to a third party person/ property. And if this is not enough it can be customized with your choice of add-on covers, giving you coverage as per your requirement in a cost-effective way. While you secure your car with comprehensive car insurance online in a matter of minutes.
Third-party Liability Cover: This coverage only protects you against liabilities arising from damage, injury, or loss to a third party person or property. As established in the Motor Vehicles Act 1987, this is a mandatory cover approved by the government and it is a punishable offense to not have a valid third-party liabilities cover.
Stand Alone Own Damage cover: If your car already has third-party insurance coverage? Well, then the stand-alone own damage cover is the perfect missing cover that helps you against financial losses arising to the car owner due to damage to the car.
Coverage for Popular Car Brands: Bought a newly brand car? Then this cover offers 1-year coverage against damage to your own car along with a 3 year cover against damages to a third party person/ property.
No Claim Bonus (NCB): No Claim Bonus can be gathered together as a discount on the premium amount over years. NCB discount ranges from 20% to 50% on the own damage premium. No Claim Bonus (NCB) can be claimed even if someone changes its vehicle, as it is transferable to the new vehicle bought by the policyholder.
Benefits of Buying IFFCO TOKIO Car Insurance Online:
There are many ways to get car insurance but buying car insurance online has benefits that help customers feel free to purchase it for their needs.
Let us see what the benefits of car insurance online are:-
1. Zero Paperwork: A car insurance policy purchased online involves Zero paperwork. To begin with, the proposal form is filled digitally and the scanned copy of any required documents is submitted to the insurer online. Moreover, the soft copy of the policy document is sent to your registered email id once the policy has been issued to you. As a result, online purchase of car insurance does not require any filling because everything is done digitally by entering the details easily.
2. Hassle free amendments: The biggest advantage of opting for online car insurance is the after sales service available for its customers. In case of any amendment to the policy copy, then he/she can fill the amendment form and attach the necessary documents before sending it to the insurer. The amendment will be done and a copy of the same will be shared with you electronically.
3. More Economical and Convenient: Buying car insurance online is more economical than buying it offline. When a car insurance company operates online, its overall cost reduces. Car owners buy the policy online themselves which eliminates the need for an insurance agent to enroll customers. You can simply apply for car insurance any time of the day as the internet is at your needs all the time. Moreover, you can also pay the premium online using your bank cards or internet banking.
4. Instant Policy Issuance & faster process: When you buy a car insurance policy online, your policy is issued to you almost instantly. You don't have to wait for days to receive your policy document. All you need to do is fill up a few basic details about your car and your contact details from the comforts of your home and you can get your policy in no time.
5. Quotes Comparison: One of the best things about buying car insurance online is that you can compare different car insurance quotes online for free of cost with PolicyBachat. Compare quotes with different insurers and buy car insurance policies online.
Factors effecting IFFCO TOKIO Car Insurance premium:
- Age of the vehicle
- Cost of the vehicle
- Geographical location
- Type of policy
How to lower IFFCO Tokio motor insurance premium
- No claim bonus: This is a discount given by the insurance carrier for zero claims in the preceding year. No claim bonus starts from 20% increases every year up to 50% at 5 years slab.
- AAI Membership: Avail 5% discount if you are a member of the Automobile Association of India.
- Voluntary deductible: Increase your voluntary deductible to lower your insurance premium. The voluntary deductible is the amount payable at the time of claim settlement as agreed at the time of purchasing a policy.
- Secured devices: Install high-security devices to lower the risk of theft, anti-theft security devices help you to avail of a discount on your IFFCO Tokio auto insurance premium.
How to file a claim in IFFCO TOKIO Car Insurance Policy?
- Inform the company
- Keep the required documents handy
- Car inspection
- Claim Processing
- Duly signed claim form
- A copy of registration certificate
- A copy of valid driving license
- Original repair bills
- Insurance policy papers
How to Renew IFFCO TOKIO Car Insurance with PolicyBachat?
Car insurance can be renewed online by visiting the website PolicyBachat first and then selecting a suitable insurance company. It’s worth noting that each insurance company’s renewal process may differ slightly. The following is a step-by-step guide to renewing an insurance policy online:
Step 1: log in to PolicyBachat.
Step 2: Choose a policy that is about to expire or has already expired.
Step 3: Select the coverage you require and click “Renew.”
Step 4: Read the insurance policy’s inclusions and exclusions, as well as the terms and conditions. Also, make sure to read the small print.
Step 5: Pay for the policy and receive it at your registered email address.
Visit PolicyBachat and get the best car insurance quotes from the top insurance companies and you can also check the details on risk factors terms conditions and please read the sales brochure carefully before concluding a sale. Need Help? call Policy Bachat at 1800-123-4006 or 1800-123-4003 and our insurance specialist will be there to assist you.