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IFFCO Tokio General Insurance Company Limited (IRDA Reg. No. 106) is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group which is the biggest listed insurance entity in Japan. Incorporated on 4th December 2000 with a vision of being an industrial leader IFFCO Tokio General Insurance has come a long way with Pan India presence with 78 “Strategic Business Units' (SBU’s) and a wide network of over 152 ‘Lateral Spread Centres’ (LSC’s) and 351 Bima Kendras.
The customized service of IFFCO Tokio, personalized covers and extensive array covers range of customers from farmers to some India’s largest automobile manufacturers and with absolute worth the money spent products. Backed by a robust IT infrastructure and speedy settlement of claims, the car insurance policy offered by IFFCO Tokio, is a way to provide total surety and protection from unforeseen accidental loss and property damage.
IFFCO Tokio policy is to insure any private vehicle/car which covers Own Damage car insurance and also, Third-party liability insurance, which helps car owners at the time when needed – in case of any accident or mishaps.
Own Damage: This policy cover any damage or loss to the owner’s car due to any of the following things:
Third Party or Liability: As this policy is mandatory by the Motor Vehicle Act 1988, it is provided by IFFCO Tokio Private Car Insurance Policy which covers any injuries or property damages to the third party.
Legal liability to any third party property damage up to Rs 750,000 under this policy.
Personal Accident Cover: Under this cover by IFFCO Tokio General Insurance that provides you a sum insured in case of Accidental Death or Permanent Total Disablement with a coverage of Rs. 200,000 for an individual owner-driver of the insured vehicle.
Under this plan 12 benefits are available of which you can select any 3 benefits:
Waiver of Deductible Depreciation: Usually, the cost of depreciable car parts such as metal, rubber, plastic are not fully covered at the time of claim. This covers is beneficial at the time of claim wherein the IFFCO Tokio will make sure to pay the complete charges of repair.
Invoice Reimbursement : in case of Total Loss (TL), theft or Constructive Total Loss (CTL) that is damage beyond repair of the insured vehicle.
Daily Allowance for travel : in case the insured vehicle is in garage or workshop for partial or total loss due to the perils as mentioned in the policy wordings. Maximum time is subject to the damage.
Cover against the loss of personal belongings : kept inside the insured vehicle at time of theft, burglary or an accident due to any of the perils as mentioned in the policy wordings.
Reimbursement of medical expenses of occupants (except paid passengers, if any) : if injured in case of an accident or resisting in case of thief or burglary.
NCB Protection : benefit after the claim is lodged. Usually, the No Claim Bonus comes down to zero if the insured lodge a claim in a policy period. With this cover the NCB retains and is unaffected In case of a standalone glass claim. And for other case, it is retained or reduced based on the specified chart in the policy. This cover helps to retain that.
Increased in Personal Accident coverage : than the covered value mentioned in the normal policy for all the occupants including the driver except paid passengers.
Increased in the Third party property coverage : beyond 7.5 lakhs limit as per the basic Motor Insurance Policy .
Cost of rental stay or hotel : accommodation for up to 3 nights to the passengers of insured vehicle in case of vehicle damage and repair takes more than 12 hours.
Cost of Transportation : of insured vehicle to the workshop and delivery, in case if the repair takes more than the 72 hours and the insured vehicle is at the incident location.
Reimbursement against : the cost of removal of debris and wreckage due to the damage in case of an accident or any other peril mentioned in the policy wordings.
Cost of towing : in case, on spot repair is not feasible and need to tow it to the nearest garage.
With this plan the insured vehicle gets 24*7 On-Road Assistance in case of small or big breakdowns or an accident. Key Features:
IFFCO Tokio General Insurance offers many attractive discounts that the policyholder can avail.
|No. Of Years||Discount|
|One claim-free year||20%|
|Two consecutive claim-free years||25%|
|Three consecutive claim-free years||35%|
|Four consecutive claim-free years||45%|
|Five consecutive claim-free years||50%|
Toll-Free Number: 1-800-103-5499
Required steps and supporting documents:
a) In case of Accident
b) In case of Theft
c) In case of Third Party Claims
Step-wise guide to claim:
Take appointment with the surveyor and take your vehicle to any of IFFCO Tokio General Insurance authorized network garages for repair, for cashless service. Submit the require documents to the surveyor
Company confirms liability
If possible, opt for cashless facility, the company will settle the repair bills directly with the garage up to the amount payable
But in case you do not opt for cashless facility, you have to pay for the repair charges and then submit the bills with claim form to the surveyor/company for settlement
With over 2000 cashless garages across India and a remarkable number of POS centres, IFFCO Tokio can make doorstep arrangements for fresh or renewal policy covers. The company scores brownie points when it comes to providing benefits or services compared to the premiums charged. Additionally, with their ‘On Road Protector Coverage’ you can be assured that you are covered with all your need for the car insurance. Thus, if you are looking to buy a comprehensive car insurance package with stringent budget, IFFCO Tokio should be your definite choice.