Iffco Tokio Car Insurance

Iffco Tokio General Insurance Company commenced its operations in the year 2000.  The company started as a joint venture between Tokio Marine, Nichido Fire Group (Japan) and the Indian Farmers Fertilizer Co-operative Limited, also known as IFFCO. Since then Iffco Tokio has been one of the most trusted brands in the insurance industry. Their insurance products are designed to offer customer satisfaction with transparency in their dealings and quick redressal of queries.

Iffco Tokio Car Insurance Plan at a Glance

Features Highlights
Incurred Claim Ratio 81.96%
Network  Garages 2000+
Personal Accidental Cover Rs. 2 lakhs
Third-party Cover Up to Rs. 7.5 lakhs ( property damage)
CNG/LPG fuel kit Add-on cover
Loss or damage to electrical or non-electrical accessories Covered

Why is it Important to Have Car Insurance?

If you are still in two minds, these factors would probably help you understand the importance of having a valid car insurance policy

  • It will save you from the financial shock, in case your vehicle is damaged or stolen. The insurer will pay-off a major portion of the expenses and you will have to pay only a small portion from your own pocket.
  • You don’t need to drain of your finances because the cost of repair will be taken care off by the insurer
  • It also covers injuries and damages caused to fellow passengers, pedestrians, co-drivers and riders
  • Besides accidental damages, it also covers damages resulting due to storm, theft, vandalism, and fire.
  • Car insurance also takes care of the medical expenses incurred due to accidental injuries.

Before purchasing a car insurance policy, it is imperative to compare car insurance online based on the above-mentioned parameters.

Why Iffco Tokio Car Insurance?

If you have a car insurance policy in place, it covers physical damages, bodily injuries, death and any third-party liability arising from the insured vehicle.

If you buy a comprehensive Iffco Tokio car insurance policy, it will cover risks arising due to third-party and personal liabilities. There are various other add-on covers that you can buy including roadside assistance, car windshield cover, personal accident cover etc. as per your needs.

Benefits of Iffco Tokio Car Insurance

  • Round-the-clock Roadside assistance
  • Coverage for LPG and CNG fuel kit
  • Zero Depreciation Cover
  • Covers damages resulting due to natural calamities like earthquake, flood, landslide, storm etc.
  • Covers damages resulting due to manmade causes like theft, accident etc.
  • Covers loss or damage caused to electrical and non-electrical car accessories
  • Cashless repair service in more than 2000 network garages

Types of Car Insurance Coverage

There are various types of car insurance policies that are available, but to help you decide the right one, we have elucidated some of them below-

Comprehensive Car Insurance

A comprehensive car insurance policy offers you coverage against risks arising due to man-made and natural disasters. Natural calamities like fire, explosion, flood, storm, hurricane, typhoon, cyclone, earthquake, frost, and landslide are included.

Man-made calamities like theft, riots, strike, housebreaking, burglary, malicious act, and damage during travel by road, rail, water or air, terrorist activity are covered.

Third party car insurance cover is also provided, which offers you protection against legal liabilities arising due to third-party property damage. It also covers accidental damages resulting in third-party death or permanent disabilities.

If you want to protect yourself and your co-riders from personal accident injuries, then opt for personal accident cover.

Age of the car is directly related to its depreciation value.  More the age of the car more will be the depreciation value. Car insurance is calculated on the IDV i.e. the current market value of the car minus the applicable depreciation on the car parts. If your car is older than 3 years, then you must buy depreciation cover as an add-on.

Iffco Tokio Third-Party Car Insurance

It is the most affordable form of car insurance. It is mandatory to have third-party cover for all the car-owners/drivers in India.

But it only covers third-party loss or damage. If there is a damage that is caused by your car, it will be taken care of with third-party insurance cover. It covers injuries or death resulting from the insured vehicle. Also, the damages caused to the driver, co-passengers, and pedestrians are also covered.

Full coverage is provided in case there is third-party death or injury (as fixed by the court of law). For any deliberate attempt, the insurer is not liable to pay the loss or damage.

Inclusions in Iffco Tokio Car Insurance Comprehensive Plan

A comprehensive car insurance policy includes the following –

  1. Any loss or damage caused to your car due to following reasons –
    • Self-ignition
    • Explosion or fire
    • Theft and burglary
    • Natural calamities like flood, storm, cyclone, typhoon, earthquake etc.
    • Malicious acts or terrorist activities
    • Riot, strike and civil disorder
    • Damage sustained during transit by  air, road, rail, and inland waterway
  1. Third-party legal liability covers up to Rs. 7.5 lacs for property damage. An unlimited cover is provided in case of third-party death. It encompasses costs incurred by the claimant, the compensation amount, and defense expenses
  2. Personal accident cover up to Rs. 2, 00,000. It offers protection to the owner against any mishap that has taken place while traveling or getting in and out of the vehicle. Compensation is provided in case of death or total disabilities.
  3. In the event of an accident, Iffco Tokio car insurance will compensate up to Rs. 1,500 for towing, protection and re-delivery of the vehicle.
  4. Certain add-on covers are provided on the Iffco Tokio Car Insurance Policy by paying an additional amount of premium. These include:
  • Personal accident cover for passengers
  • CNG or LPG fuel kit cover
  • Loss or damage to electrical or non-electrical accessories
  • Additional legal liability cover for the driver
  • Participation of insured vehicle in rallies

Exclusions in Iffco Tokio Car Insurance

There are certain things that are not covered by your insurer. As an informed buyer, it’s imperative that you know what all is not covered in your car insurance policy. They may vary from plan to plan, but usually, compensation is not provided for –

  • Routine wear and tear
  • Consequential loss
  • Electrical and mechanical breakdown
  • Contractual liabilities ( if any)
  • Loss of accessories
  • Accident or damage resulting while driving under the influence of drugs or alcohol
  • If the driver/owner found to be driving without a license
  • If the vehicle was found to be used for commercial purpose, racing or other than the purpose mentioned in the policy application
  • Damage caused to tubes and tyres

Add-on Covers Provided by Iffco Tokio Car Insurance

A basic car insurance policy might be affordable but if you want complete protection then you should think about getting these add-on covers.

Let’s see how this add-on covers work-

  • No Claim Bonus Protection – You will earn No-Claim-Bonus if you have not made any claims against your car insurance. If a claim has been made, you will not get no-claim-discount. With this add-on cover, you can avail No-Claim-Bonus even after a claim has been made with Iffco Tokio car insurance.
  • Roadside Assistance – You no longer will be stranded in the middle of the road due to an engine problem, flat tyre or mechanical fault.  There are various other services provided including towing assistance, refueling, and key replacement cover when emergency assistance is provided.
  • Zero Depreciation Cover – At the time of claim settlement, its depreciation value is subtracted from the IDV. If you have Zero Depreciation Cover, the entire claim amount will be reimbursed by Iffco Tokio Car Insurance.
  • Engine Protection Cover – If you want the expenses incurred on engine repair to be reimbursed by the insurer, then you should definitely buy this add-on cover.
  • Return to Invoice – If your vehicle is declared as a total loss, you will get the original invoice price of the car, including registration charges and road tax. If you live in an area where instances of car thefts are high, then you must buy this add-on benefit.
  • Garage Cash Cover – In case your car is sent to the garage for repair after an accident, the insurer will reimburse the expenses incurred on hiring another vehicle.
  • Windshield Glass Cover – The cost of replacing a broken windshield can be exorbitant. However, with this add-on, it can be easily replaced. Your no-claim-bonus is also restored when you use Iffco Tokio car insurance to pay for the replacement of the windshield.
  • Ambulance and Medical Expense Cover – In case there are injuries caused to you and third-party the insurer will pay for the cost of the ambulance and the following medical expenses.
  • Key Replacement Cover – In the event of car theft, burglary or key misplacement, the insurer will reimburse the cost incurred on replacement of keys.
  • Personal Belongings Cover – If your personal belongings are stolen from the locked car, then it will be recompensed by Iffco Tokio car insurance.
  • Personal Accident Cover – In case of death or disabilities resulting due to a car accident, a lump sum amount will be provided as compensation to your family.
  • Consumable Cover – In case there is an accident; the insurer will take care of the expenses incurred on engine oil, nuts, and bolts. The amount you spent on repair and replacement of consumables will be reimbursed by Iffco Tokio car insurance.
  • Accident Cover for Passengers – Lump sum compensation is provided in case of bodily injuries or death of a passenger riding in your car.

Documents required by Iffco Tokio car insurance for accidental claims-

  • Duly filled and signed claim form
  • Copy of registration certificate (RC)
  • Driving license copy
  • Copy of the first two pages of the motor insurance policy
  • Copy of Police FIR
  • Original copy of repair estimate from the workshop
  • Receipt and original invoice of the payment made in cash to the garage

List of documents required by Iffco Tokio car insurance for car theft claims –

  • Claim form duly signed and filled by the insured
  • RC or Registration Certificate
  • Car keys ( original)
  • Driving license copy
  • Copy of the police FIR
  • Copy of the initial two pages of the four-wheeler insurance policy
  • Forms 28, 29, 30 & 35, Regional Transport Office (RTO) transfer papers
  • Police report stating that the car cannot be traced

List of documents required by Iffco Tokio car insurance for third-party claims-

  • Police FIR copy
  • Driving license copy
  • Copy of the initial two pages of the vehicle insurance policy
  • Car’s Registration Certificate RC Copy

Iffco Tokio Car Insurance FAQs

Q1. What are the documents required to get No-claim-bonus Retention letter?

While switching your car insurance provider, you can ask for preserving your No-claim-bonus. On your request, Iffco Tokio car insurance will provide an NCB retention letter.

To issue an NCB retention letter you need to provide the following documents to Iffco Tokio Car Insurance –

  • Car insurance cancellation request in written (for both offline and online)
  • Original copy of the car insurance policy
  • Certificate of insurance(Form 51)
  • (Form 29) Notice of car ownership transfer
  • Application for car ownership transfer (Form 30)
  • Car’s registration copy with the name of the new vehicle owner
  • Sometimes a proof that the car has been received by the new owner is required

Q2. How is Insured Declared Value of a car calculated?

A lot of factors are taken into consideration while calculating the IDV of a car.  IDV is then adjusted with the depreciation value of the parts as fixed by the Indian Motor Tariff.

Using a car insurance calculator following information is required to calculate the IDV –

  • Car make and model
  • The ex-showroom price of the car
  • Registration details of the insured car
  • Name of the Manufacturer
  • City of registration
  • Registration type (if it is individually owned or company owned)
  • Date of Registration
  • Description of the vehicle
  • Cubic capacity of the vehicle

Q3. What is Zero Depreciation Cover?

Zero depreciation or NIL depreciation cover offers full claim settlement of the damage that is caused to your car. If your vehicle is less than 7 years old then you can also get zero dep cover on your IFFCO Tokio Car Insurance policy.

You need to pay an extra amount of premium to get this benefits but it is totally worthwhile if we look at the coverage that is provided. At the time of purchase of a new car, most of the customers opt for this benefit. You can even opt for zero depreciation cover at the time of policy renewal.

Q4. What are the benefits of Personal Accident Cover?

If you buy personal accident cover as an add-on in your Iffco Tokio car insurance policy covers up to Rs. 2 lakhs is provided. Compensation will be provided for death or bodily injuries sustained by the owner-driver of the insured car. For more details, please refer to the policy documents.

Q5. What are the benefits of buying Roadside Assistance Cover?

If you opt for roadside assistance cover, emergency assistance will be provided to you in case there is a mishap. For instance, if your car runs out of fuel or your battery is dead. Immediate help will be offered to you once you inform your car insurance provider.

You can opt for this add-on cover with a comprehensive Iffco Tokio car insurance policy when buying insurance online.

Q6. What is not covered in Iffco Tokio car insurance policy?

The claim will not be provided in your Iffco Tokio car insurance policy under the following circumstances-

  • Normal wear and tear
  • Consequential loss
  • Electrical and mechanical breakdown
  • Driving under the influence of alcohol
  • Driving without a driving license
  • If the tyres are also damaged along with the vehicle then compensation upto 50% of the replacement cost of tyres is provided

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