IFFCO Tokio Car Insurance Review with All features | Is It Valuable in 2022?

August 27, 2022July 15, 2023 admin 0 Comments

IFFCO Tokio Car Insurance Review : A suitable insurance policy can help the owner be secure against all financial losses and legal liabilities that arise from natural or man-made accidentsthat could cause serious or minor damages to property, the vehicle or any person.

How to Choose the Best Car Insurance Company In India?

The criteria for determining the top vehicle insurance company is a subjective matter because it differs from person to individual based on their needs. For some an insurance provider with the highest ratio of claim settlement is the most effective, while other people prefer an insurance firm that has a large range of cashless garages is the most effective. So, there is many factors that make an insurance firm the most suitable for an individual. You should take into consideration the following elements when selecting an insurance provider.

1. Network of Cashless Garages

There are many garages that an insurance company collaborates for the processing of insurance claims made in cash. When choosing an insurance provider for car insurance one should verify the credibility of the cashless garages belonging to an insurance firm. It is also important to determine whether there are enough cash-free garages within the vicinity of their area of residence.

2. Claim Settlement Ratio

Claim Settlement Ratio reveals the number of claims that are settled by an insurance company for cars from all claims it receives during the financial year. It is best to choose an insurance company that has a high ratio of settlement for claims.

3. The availability of add-ons

Add-ons are additional coverages which can be added to the standard insurance policy to expand the coverage. Add-ons are offered in conjunction with comprehensive or own-damage insurance. They can be selected at the time of purchase or renewal.

4. Customer Support Service

You should also verify the availability and the quality of the customer service provided by the insurance company. Although some insurance companies offer 24/7 customer service, others provide support to customers for 5 days.

Types of Car Insurance Plans Offered By Different Insurance Companies

Based on the car/vehicle/4 wheeler insurance coverage there are three types of insurance plans for automobiles:

1. Third Party Car Insurance

According to the Indian Motor Tariff, every driver in India is required to carry at least a third-party auto insurance policy. The plan covers you for all third-party liabilities like bodily injuries, disabilities or death as well as property damages caused by any unfortunate incident that affects your vehicle. Third party property damage is limitless to the amount of Rs. 7.5 lakhs in this program.

2.Standalone Auto Insurance with Own Damage

This plan will only cover for personal damages incurred by your vehicle in the event of a mishap like a road accident or natural disaster or fire and explosion, theft violence and so on. To be in compliance with legal requirements, you need to buy a third-party car insurance policy with it. A standalone insurance for your own damage plan allows you to pick your own damage cover and third-party insurance coverage from a variety of insurance companies.

3. Comprehensive Car Insurance

This is a combined insurance plan which provides protection for liability from third parties and personal damages that your vehicle incurs during an unfortunate incident. In the three different types of insurance plans for cars that are available, a comprehensive plan gives you the greatest coverage. It is possible to further increase the coverage offered by this plan by acquiring additional coverages such as zero depreciation insurance or engine cover.

IFFCO Tokio Car Insurance

IFFCO Tokio Car Insurance plan is the one-stop 360 insurance plan to protect your vehicle. The insurer, IFFCO Tokio General Insurance Company Limited offers a wide range of products which includes Two-wheeler insurance, Health Insurance, Travel Insurance, Credit Insurance, Fine Arts Insurance, P & I Insurance, Errors & Omissions Insurance, and Home Insurance. Additionally, IFFCO Tokio was also the first company in India to provide the insurance of liability and property. Additionally, IFFCO Tokio General Insurance was the first to set up Bima Kendras throughout rural India. Within the motor department, the insurance company provides two-wheeler, commercial vehicle, and value auto coverage as well as 24×7 road assistance.

Key Benefits of IFFCO Tokio Car Insurance

Digital copy policy – Instant digital copy the policy
Claim settlement – Fast and pain-free claim settlement
In-house trained – Surveyors to immediately attend to claims
The Cashless Garage Network More than 2000 cashless garages in India
Add-on covers A unique bouquet of covers available under ‘Value Automatic Coverage’
Roadside Assistance the ‘On Road Protector Insurance’, you are able to access roadside assistance for an additional cost of a small amount
At IFFCO, Tokio private car insurance coverage
In conjunction with this Iffco Tokio Car Secure policy You can also take advantage of discounts that will lower your cost.
No-Claim Bonus discount: You may benefit from this NCB discount on your own damaged premiums based on amount of time that you have been without a claim. Also, you can avail the NCB benefit in accordance with your policy expiring, regardless of whether you decide to change from another insurance company into Iffco Tokio.
Select a Voluntary Deductible: The option of an increased voluntary deductible in addition to the mandatory deductible could result in an additional discount off your own-damage cost.
Membership in AAI Membership of AAI: Being an active or a member of an organization recognized by the Automobile Association of India (AAI) provides an additional discount.
IFFCO Policy for Tokio is cover every private car or vehicle that covers the owner’s Damage car insurance , and third-party liability insurance that assists owners of cars required – in the event of mishaps or accidents.

Types of Coverage

Own Costs
This policy will cover any damage or loss that occurs to the vehicle of the owner due one of the following circumstances:
Self-ignition, fire and explosion.
Flood, inundation, typhoon, hurricane, storm, tempest, cyclone, hailstorm, frost, lightning, earthquake, landslide, rockslide.
Theft or burglary
strikes, violent or terrorist actions
External damage caused by accident, or damage caused by transport via rail, road or inland waterway, lift or elevator.

Key Features

Towing
Service of Assistance
Essential Fuel Delivery
Medical coordination services
Urgent message relay

Pros

After the Duty Hour No Concoll No Harassment for business.
Monday to Thursday Working Day. Saturday and Sunday did not count as attendance.
If Your Goal is Completed, There is no one to ask where you Leave and When You’ll Return.
This is basically work through Agents. That They Have Given Business.
SBU Head is cooperating.
IFFCO TOKIO Provides Best Claim Settlements from other firms.
Customer App Provides the Settlement Claim within 4 hours for private Car and Two Wheelers.
If you are able to establish a positive relationship with agents, then you will done a good job in business.

Cons

The Process is very lengthy to implement The Policy.
All things must conform to the proper formal guidelines regarding discount approval, underwriting and HR related questions, etc.

IFFCO Tokio Car Insurance Review

With more than 2000 cashless garages throughout India and an impressive number of POS centers, IFFCO Tokio can make doorstep arrangements for new or renewal policies. The company has earned brownie points when it comes to offering services or benefits that are comparable to the prices charged. Furthermore, with their “On Road Protector Coverage’ , you are sure that you will be protected with everything you need to insure your car. So, if you’re seeking to purchase a an insurance plan for your car that is on a tight cost, IFFCO Tokio should be the top choice.

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