Overview of IFFCO Tokio Car Insurance Plans
IFFCO Tokio Car Insurance Plans was established in the year 2000 as IFFCO Tokio General Insurance Company and is a joint venture between Indian Farmers Fertilizer Cooperative and Tokio Marine Group. Being one of the most trusted insurance companies in the country, IFFCO Tokio Car Insurance Plans provides unbeatable insurance policies designed specially to suit the needs of the customers.
Accidents happen unexpectedly and can cause huge damage both to life and finances which is why The Motor Vehicle Act made it mandatory for every vehicle to have an insurance policy that helps them during times uncertain and be prepared. In compliance with the same mandate, IFFCO Tokio insurance offers car insurance which keeps the policyholders protected from legal liabilities arising out of accidents and save money from the expenses or losses arising out of theft, damage to vehicle, accident or any other reasons. With unmatched services towards its customers, IFFCO Tokio Car Insurance Plans appreciates those who plan for misfortune events and stay safe.
Benefits of IFFCO Tokio Car Insurance Plans
IFFCO Tokio Car Insurance Plans brings joy in the life of policyholders by providing them with huge benefits like
- Unlimited zero depreciation cover
- Coverage against natural calamities
- Coverage against man-made events
- Coverage for CNG kit
- Round the clock roadside assistance
- Digital signed policy
- Free inspection and renewal of insurance policy right at the doorstep
- Tokio value auto and On-road protection coverage on payment of little higher premium
- 24*7 customer care service for claim settlement
- Quick approval of insurance application and claim with minimal documentation
- More than 20,000 agents across all branches in India
Features of IFFCO Tokio Car Insurance Plans
IFFCO Tokio Car Insurance Plans has some of the most varied features and provides insurance coverage which benefits the customers. Some of the features of IFFCO Tokio Car Insurance Plans are
- Third-party coverage
Under this feature, IFFCO Tokio Car Insurance Plans provides coverage to the policyholders by protecting them against liabilities arising out of third party loss or damage. It protects the policyholder by covering the legal expenses and third party claims arising as a result of injuries, death, or damage to the property.
- Personal accident cover
IFFCO Tokio Car Insurance Plans provides the following under the personal accident cover to the policyholders
- Rs 2 lakh cover for owner or driver
- Reimbursement of redelivery, towing of the vehicle up to the maximum of Rs 1500
- Provides coverage for damage of electrical and non-electrical parts and also CNG kit
- Personal accident cover for named or unnamed passengers
- Cover towards legal liability for driver/conductor
- Protection to the vehicle against damages for participating in rallies
IFFCO Tokio Car Insurance Plans has a wide network of more than 4300 certified garages that provide hassle-free services to the policyholders. In case of emergencies, IFFCO Tokio Car Insurance Plans also provides the policyholders towing facility to the nearest garage for repair.
No Claim Bonus
No Claim Bonus is simply the discount offered after completing one claim-free year and this discount rate increases every year without claim.
Incurred Claim Ratio
- No Claim Bonus is accumulated over time
- The range of discount offered is between 20% – 50%
- No Claim Bonus can be transferred to a new vehicle
- No Claim Bonus can be transferred to the legal heir as well
- No Claim Bonus becomes void if a claim has been made even once
The incurred claim ratio is the ratio of claims settled over the premiums earned in a year. The IFFCO Tokio Car Insurance Plans has an incurred ratio of 79.19%
Types of Plan under IFFCO Tokio Car Insurance Plans
IFFCO Tokio Car Insurance Plans provides comprehensive car coverage under the following car insurance plans
- IFFCO Tokio Private Car Insurance Plans
This is a comprehensive car coverage that caters to all the insurance needs of the policyholders and secures their interest. The plan is designed to cover the cost of damage caused to the vehicle from natural and man-made disasters, provide security for third party liability, etc. This plan covers the following essential points
- Cover against natural and man-made calamities causing damage to the vehicle like flood, earthquake, theft, fire, accident, etc.
- Cover for third party liability arising out f damage caused to the third party’s property or life.
- Cover for the breakdown of electrical and non-electrical accessories of the insured vehicle
This car insurance policy by IFFCO Tokio comes with several added benefits like Zero depreciation cover, roadside assistance, death benefit, 24*7 customer care assistance and customization of the plan through add-on benefits.
- IFFCO Tokio Commercial Car Insurance Plans
This insurance policy provides coverage for the commercial vehicle and saves the policyholder from suffering losses due to external damages. This policy provides coverage for personal accident, third party liability, etc. This policy covers the following important points
- This policy covers all commercial vehicles like taxi, bus, truck, tractor, matador, etc
- This policy covers the damage caused to any property by the insured vehicle
- Covers third party liability for bodily injuries, death or property damages to the third party
This insurance policy provides benefits like garage services in more than 4300 network garages, instant insurance issuance, and fast claim processing.
IFFCO Tokio Car Insurance Plans premium
IFFCO Tokio Car Insurance Plans premium depends on the following
- Own damage premium under which the premium percentage is calculated on the basis of age and model of the car
- Liability premium which is a fixed amount which is based on the vehicle insured.
Coverage under IFFCO Tokio Car Insurance Plans
Policyholders of IFFCO Tokio Car Insurance Plans enjoy the benefit of the below-mentioned coverage
Personal Accident cover
- Third-party liability
IFFCO Tokio Car Insurance Plans provides third party liability cover to its policyholders under which it provides protection against financial expenses and losses incurred due to damage or loss to the third party and against the legal liabilities arising due to the loss of property, life or any bodily injury of the third party. IFFCO Tokio Car Insurance Plans provides coverage of up to Rs 7.5 lakh for third party liability cover.
- Coverage for own damage
IFFCO Tokio Car Insurance Plans provides coverage for own damage by protecting against losses due to
- Explosion, fire, self-ignition, etc
- Flood, earthquake, storm, tempest, hailstorm, landslide, rockslide, lightning, etc
- Theft, burglary, housebreaking, riot, terrorist activities, and damage in transit through railways, roadways, airways, waterways, elevator or lift.
IFFCO Tokio Car Insurance Plans provides a personal accident cover of Rs 2 lakh for the driver/owner and offers Rs 1500 compensation for towing vehicle and redelivery of the vehicle.
Additional Coverage for IFFCO Tokio Car Insurance Plans
IFFCO Tokio Car Insurance Plans provides additional coverage for extending added support to the policyholder by
- Covering the loss or damage to electrical and non-electrical accessories
- Unlimited nil depreciation
- A wider liability cover for driver/ conductor
- Personal accident cover for unnamed passengers
- Protection to four-wheeler for damages while participating in rallies
Add-on features of IFFCO Tokio Car Insurance Plans
For enjoying a total stress-free drive one must have an insurance policy that protects the policyholder and the interest of the insured completely and IFFCO Tokio Car Insurance Plans provides add-on features to enhance the policy coverage.
- Nil depreciation cover
Nil depreciation cover or zero depreciation cover protects the policyholder from depreciation cost of the vehicle. The depreciated value is deducted at the time of claim settlement and this cover protects the policyholder from any such deductions
- No Claim Bonus protection
No Claim bonus is the reward of driving safely and protecting the interest of the policyholder by giving them a discount on the premium for making zero claims. No Claim Bonus protection safeguards the interest of the policyholder when the rate of No Claim Bonus is high and a claim can nullify the discount rate. This saves you from losing the bonus discount.
- Engine protection
This add-on cover protects the policyholder from the costs or expenses due to loss or damage to the engine. This cover compensates the repair cost of the engine
- Return to invoice cover
This cover helps the policyholder in getting the original invoice price of the car along with road tax, registration charges, etc in case of the total loss of the vehicle. This add on cover is very useful in an area where the chances of theft are high.
- Roadside assistance
This helps the policyholder in case of sudden vehicle breakdown, flat tyre, etc. Roadside assistance helps the policyholder by providing them help refuelling, replacing a lost key, a towing facility for the nearest network garage, etc.
- Garage cash or daily cash
This add-on cover provides for compensation and paying the policyholder daily allowance for the time when the vehicle is in the workshop for repair and you need to hire another vehicle for the commute.
- Key replacement cover
This cover pays for the expenses of replacing lost keys or lock.
- Windshield cover
This cover compensates for the cracked or broken windshield and this does not affect the No Claim Bonus as well.
- Loss of personal belonging
This cover protects against the loss of personal belongings in case of theft or damage to the vehicle
- Consumable cover
This cover protects the policyholder from bearing the cost of nut-bolts, engine oils, brake oils, filters, etc.
- Medical and ambulance expenses add-on
This cover takes care of the ambulancecharges or medical charges in case of injury due to accident
- Personal accident cover
Under this add-on cover, the policyholders family gets financial security in case of the death or disability of the policyholder
- Accident cover for co-passengers
This cover compensates through lump sum amount to the co-passengers in case of death or disability
Discounts offered by IFFCO Tokio Car Insurance Plans
IFFCO Tokio Car Insurance Plans provides discounts to the policyholders in the form of
- Voluntary deductible discount: Under this, the policyholder voluntarily agrees to pay a certain sum of money for the claim against which the insurance company gives a discount to the policyholder on the insurance premium.
- No Claim Bonus: Bonus for making zero claims during a policy year
- Automobile Association discount: IFFCO Tokio Car Insurance Plans provides a discount to the members of the Automobile Association of India
- Discount on vintage cars: IFFCO Tokio Car Insurance Plans also provides a certain discount on the vintage cars
- Installation of Anti-theft device: IFFCO Tokio Car Insurance Plans provide a discount for installation of anti-theft device in the vehicle.
The application process of IFFCO Tokio Car Insurance Plans- Buy and Renew
How to buy IFFCO Tokio Car Insurance Plans?
Application process IFFCO Tokio Car Insurance Plans through Turtlemint
- Online directly through the website:
If you want to buy IFFCO Tokio Car Insurance Plans then all you have to do is follow these easy steps and enjoy a seamless process of buying an insurance policy for your car
- Log on the official website of IFFCO Tokio General Insurance Company Limited https://www.iffcotokio.co.in/motor-insurance/car-insurance
- Fill details for ‘Request a quote’ and get the premium quote. You will have to provide your registration number, mobile number, email address and choose between package policy and own damage renewal option given.
- Once satisfied with the quote, provide your personal details and your vehicle information
- Make the online payment and sign the policy digitally
- You will get the policy document within 7 days
Turtlemint is a platform that provides various options to compare the different insurance policies available and lets you choose the best policy after comparing the premium amount and other details. Through Turtlemint you also get added services like assistance for claim settlement and advice on policy decisions, etc. All you have to do is
- Log in to https://www.turtlemint.com/car-insurance/IFFCO-Tokio-Car-Insurance
- You will have to enter your vehicle registration number or the registration location
- You will have to enter your vehicle type, fuel type, vehicle variant, mobile number, email address, etc.
- You will be asked to specify if you already have an insurance premium bought from Turtlemint and provide information about the policy
- Once done, you will be directed towards the premium quote page where you can get the best insurance quotes based on the information provided by you.
- Once satisfied with the premium, you can make the payment for the insurance premium directly from Turtlemint and enjoy the added services of Turtlemint along with the insurance policy
Renewing your IFFCO Tokio Car Insurance Plans
When you want to renew your IFFCO Tokio Car Insurance Plans, you can do it from the website directly or through Turtlemint by following the steps given below
- From the official website of IFFCO Tokio General Insurance
- Visit the official website https://www.online.iffcotokio.co.in/portal/?redirect=ITGI_REN&contractType=PCP
- Choose Renew existing policy from the option tab
- Enter the details asked like Policy type, email address, Vehicle registration number, Policy number
- Pay the premium amount digitally
- You will receive a mail authenticating the payment and insurance policy. You can download and keep the document of IFFCO Tokio Car Insurance Plans renewal
- Renew your Car Insurance Plans online through Turtlemint
- Enter your vehicle registration number
- Enter details about vehicle type, claims history, etc
- Enter the existing policy details
- Check the policy details displayed and the premium amount
- If satisfies, make the payment online from debit/credit card or net banking
Claiming process of IFFCO Tokio Car Insurance Plans
For claiming the insurance amount from IFFCO Tokio Car Insurance Plans one must follow the following steps
- Inform the IFFCO Tokio Car Insurance Plans about the incident immediately
- For cashless services, always choose the network garages to claim the settlement of the expenses incurred for repair from the insurance company
- In case of the vehicle being stolen, file an FIR and submit a copy of the same with the claim form
- Lodge a claim with relevant documents like policy document, driving license, vehicle registration, etc along with a duly signed claim form available on the website
- Provide the insurance company with original bills in case of not availing cashless services and settlement of claim and reimbursement. Submit receipts in case of cashless service and everything will be taken care of.
Documents required for filing an IFFCO Tokio Car Insurance Plans claim
- Policy document and number
- Vehicle number
- RC book
- Driving license
- The estimated value of the loss
- Date and time of the incident
- Contact details
- Location of the damage/loss/accident/theft
- Copy of the FIR
- Original receipts or bill of repair
- In case of theft, a letter from RTO
Exclusion in IFFCO Tokio Car Insurance Plans
IFFCO Tokio Car Insurance Plans has the following exclusions when it comes to claiming settlement
- Consequential losses
- Mechanical and electrical breakdown
- The depreciated value of the vehicle
- Normal wear and tear of the vehicle
- Damage caused by the influence of drugs, alcohol, etc
- Damage caused while driving without driving license
- Use of the vehicle beyond permissible limits
- War and nuclear disaster
- Damage to tyre and tube
Review of IFFCO Tokio Car Insurance Plans
IFFCO Tokio Car Insurance Plans caters to the needs of the policyholders by providing them with comprehensive insurance coverage for their vehicles. By providing round the clock services and 24*7 assistance, both online and on-road, IFFCO Tokio Car Insurance Plans is one of the best insurance policies available in India. Working tirelessly towards safeguarding the interest of the policyholders, IFFCO Tokio Car Insurance Plans ensures that the customers get supreme experience while using the IFFCO Tokio Car Insurance Plans to protect their vehicle.