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IFFCO Tokio Car Insurance Policy

IFFCO stands for Indian Farmers Co-operative. The collaboration between IFFCO and Tokio Marine and Nichido Fire Group has started its insurance services in India since 4th Dec 2000. They offer insurance for several losses including health, vehicle, travel, etc. Every movable or The non-movable asset has a risk of getting damaged due to various natural and human-made calamities. Thus insurance services help humanity by compensating their loss. But, for the same they charge in the name of premium and one can pay a small amount of incentive to stay protected from massive injuries.

Key Features of IFFCO Tokio Car Insurance:
  • Offers quick and easy purchasing process with a minimal document work and hassle-free claim settlement process.
  • Online processing has added more benefits avoiding people to weight in long queues to renew the policy.
  • Every insurance company works toward improvement to beat the competition, and IFFCO Tokio has unique features in its car insurance policy which will be described later in detail.
  • The insurance covers damage, loss, of the car caused by both human-made calamities, and natural disasters.
Special Features offered on IFFCO Tokio Car Insurance Portal Includes:
  • The digital signature on the plan document can be downloaded instantaneously for purchasing the plans.
  • Can fill the form online and have the representative at your doorstep for obtaining new or renewing the existing policy. Also, offer inspection services on the spot.
  • More than 2000 workshops are associated with the company that can offer cashless service to the insured customer and claim settlement from the company.
  • Expert surveyors and settlement attend the claim happen quickly. Online e-survey claim form makes this possible with a quick TAT.
Types of Plans

1. The Liability Only Plan

2. The Package Plan

The Liability Only Plan – Is designed by the Motor Vehicle Act (MVA). The plan covers both the personal accident cover up to 2 lakhs and the third party liability to a maximum of Rs.7,50,000.

The Package Plan - Following spheres are covered under this plan

  • Covers damage or loss of vehicle caused by both natural disasters and human-made calamities.
  • Natural Disaster List
  • 1. Storm

    2. Lightning

    3. Landslide

    4. Hailstorm

    5. Frost

    6. Flood

    7. Fire

    8. Explosion

    9. Earthquake

    10. Cyclone

  • Human-made damages include
  • 1. Damage during the transit by lift, elevator, air, road, and rail.

    2. Terrorism

    3. Strike and Riot

    4. Malicious act

    5. Burglary

    6. Accident

  • It may not be limited to the list given and can be discussed with the customer support who provide on-call support 24/7 related to all insurance queries.
  • Personal accident covers up to 2 lacs in the event of death or permanent disability.
  • Third party legal liability covers a reimbursement of a maximum of 7.5 lacs.
  • Rs1500 is given as reimbursement soon after the accident that can be used for towing the vehicle to the nearest workshop for service.
  • Reimbursement for the losses occurred on the non-electrical and electrical accessories. The CNG fuel kit also gets covered in the list for coverage on damage or loss.
  • Personal accident cover of 2 lacs for the driver’s death and medical treatment or equivalent expenses covered for the people who travel in the vehicle.
Private Car Policies Additional Benefits
  • Individual accident coverage to the Owner-Drive.
  • Coverage for the Paid driver.
  • Unnamed and named travelers also get accident cover.
No Claim Bonus Features

No claim bonus means NCB in which the customer might not have claimed any money from the insurance company. Such people must be motivated to renew their car insurance policy, and that is why IFFCO Tokio offers several no claim bonus features as discussed below.

  • The NCB bonus amount is allowed to be accumulated for a period and used later.
  • Between 20 and 50%, the bonus can be discounted on future renewals.
  • Once it is claimed it stands nullified and cannot be used again.
  • Up to 90 days it is valid after the plan expired.
  • If the car is sold and exchanged for a new car, then the NCB can be carried forward with the new car, and it is valid up to 3 years.
  • Recovery can happen even if the name is changed in the RC book.
  • The NCB gets automatically moved to the legal heir if the owner happens to die during the active insurance period.
  • NCB is allowed to be moved from one vehicle to another.
  • It can also be used in India if not claimed in any other country outside India.
Exclusions:

There is no reimbursement of expenses under the following conditions.

  • If the vehicle is worn put due to aging, then no claim can be made.
  • Due to the carelessness of the owner or purposeful attack of the vehicle cannot be considered as an accident and claim is not allowed.
  • Due to the wear and tear of the electrical and mechanical parts cannot be replaced using the insurance. For instance, a worn out tire cannot be included in recovery.
  • Irresponsible driving after consuming drugs and liquor.
  • When the vehicle meets with an accident or natural calamity attack outside the mentioned geographical is at the owner’s risk.
  • Lack of driving license with the driver at the time of the accident cannot be accepted.
  • Not following traffic rules and landing in an accident will not be tolerated.
  • Carrying explosives or illegal drugs if found at the time of damage, they will not be compensated.
  • Claimed once during the period cannot be claimed again for the same repair work will not be entertained.
  • Lack of submitting relevant documents will be a reason for non-issuance of the reimbursement.

It is a good practice to purchase insurance for your car to play it safe. It is even more important to follow the terms and conditions to get the best help from IFFCO Tokio during the time of inconvenience caused to your car.

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