When it comes to bike insurance, IFFCO Tokio is one of the most reputed and trusted names in India. Launched in 2000, IFFCO Tokio General Insurance Company Limited is a joint venture between the Indian Farmers Fertiliser Cooperative (IFFCO) and Tokio Marine, a Japanese insurance company. In this blog post, we will provide you with a comprehensive review of IFFCO Tokio bike insurance, including its pros and cons, alternatives, and frequently asked questions.
IFFCO Tokio offers two types of bike insurance policies: third-party liability insurance and comprehensive insurance. Third-party liability insurance is a mandatory policy that covers damages caused to a third party in case of an accident involving your bike. Comprehensive insurance, on the other hand, covers damages to your bike as well as damages caused to a third party.
IFFCO Tokio bike insurance offers a range of benefits, including cashless claim settlement, 24/7 customer support, and a network of over 4300 garages across India. The company also offers add-on covers, such as zero depreciation cover, engine protector, and roadside assistance.
Pros and Cons of IFFCO Tokio Bike Insurance
- Wide network of garages across India for cashless claim settlement
- 24/7 customer support
- Add-on covers available for enhanced protection
- Discounts for installation of anti-theft devices
- Online renewal and purchase options
- No mobile app for policy management
- Limited options for add-on covers compared to other insurers
- No coverage for damages caused by natural calamities like floods and earthquakes
IFFCO Tokio Bike Insurance Review [Honest]
IFFCO Tokio bike insurance has received positive reviews from most f the customers we talked with offline ans well as online. What we liked the most was its hassle-free claim settlement process. The company’s wide network of garages across India makes it easy for customers to get their bikes repaired without any hassle.
However, some customers have reported that the company’s customer support can be slow in responding to queries. Company needs improvement in customer service department.
Alternatives to IFFCO Tokio Bike Insurance
If you are looking for alternatives to IFFCO Tokio bike insurance, you can consider the following options:
- HDFC ERGO Bike Insurance
- Bajaj Allianz Bike Insurance
- ICICI Lombard Bike Insurance
- TATA AIG Bike Insurance
Frequently Asked Questions
Q: How can I renew my IFFCO Tokio bike insurance policy?
A: You can renew your IFFCO Tokio bike insurance policy online by visiting the company’s website and entering your policy details.
Q: Does IFFCO Tokio bike insurance cover damages caused by natural calamities?
A: No, IFFCO Tokio bike insurance does not cover damages caused by natural calamities like floods and earthquakes.
Q: What are the add-on covers available with it?
A: Some of the add-on covers available with IFFCO Tokio bike insurance include zero depreciation cover, engine protector, and roadside assistance.
Q: Can I purchase IFFCO Tokio bike insurance offline?
A: Yes, you can purchase IFFCO Tokio bike insurance offline by visiting the nearest IFFCO Tokio branch office.
Q: What is the claim settlement ratio of Iffco Tokio?
Company offers claim settlement ratio of 95.30%
In conclusion, IFFCO Tokio bike insurance is a reliable option for those looking for a comprehensive bike insurance policy. With its wide network of garages, 24/7 customer support, and add-on covers, it provides a range of benefits to its customers. However, it is always recommended to compare different insurance policies and choose the one that best suits your needs and budget.
Hope this liked this Iffco Tokio bike insurance review and this information made your decision easier. Do visit thinkmoneytrader for more knowledgeable financial bytes.