IFFCO Tokio Bike Insurance Claim

IFFCO Tokio Bike insurance policy provides the best policy solution to its customers. With a claim settlement ratio of 95.30% in the FY 2019-20, the company has been able to resolve thousands of its customer’s problems. It holds a great record and offers a seamless procedure for claim settlement to the policyholders.

List of Documents Required During Claim Settlement

Following documents are required at the time of making a claim:

• Policy copy
• Registration Certificate (RC)
• Duly filled and signed claim form
• Documents as per the AML Guidelines
• Original repair invoice for cashless claims
• Copy of FIR and Final Investigation Report
• Driving license of the person driving at the time of the accident
• Permit, Fitness and Load Challan (in case of Commercial Vehicle)
• Claims discharge papers cum satisfaction voucher signed across a revenue stamp
• Original repair estimate, repair invoice and payment receipt for non-cashless claims.

How to Make IFFCO Tokio Cashless Bike Insurance Claim?

IFFCO Tokio provides a cashless claim facility for all its customers.Policyholders who choose this cover will not have to pay a single penny to have their vehicle repaired.The insurance company will take care of all the expenses related to your two-wheeler. Following are the steps to make a cashless claim:

Step 1: Get in touch with IFFCO Tokio

Contact your insurer after the accident and share all the necessary details like location, time etc. You can either dial their toll-free number 1800-103-5499 or register a complaint online on their official website.

Step 2: Register Claim

After submission of your claim, you will receive a confirmation message stating that your claim has been accepted, along with a claim reference number.The representative will guide you about the further steps you need to follow.

Step 3: Survey and Repair

The insurance company will send a surveyor to check the extent of the damages caused to the bike during the accident. After the survey, he will provide you with a claim form.

Step 4: Towing Service

IFFCO Tokio will arrange towing service for you upon request. It will be easier to take your damaged bike to the nearest network garage.

Step 5: Claim Settlement

After all of the formalities are completed, the insurance company will pay its part of the liability, and the policyholder will be responsible for the rest.

How To Make IFFCO Tokio Reimbursement Bike Insurance Claim?

In case the policyholder fails to reach the network garages, they can take their vehicle to other garages. To file a reimbursement claim, the policyholders need to follow the steps below:

Step 1: Contact Your Insurer

First of all, you need to contact IFFCO Tokio using their toll-free number 1800-103-5499. Inform them about the incident and ask them to initiate the reimbursement process. You can also register your claim on the insurer’s official website.

Step 2: Register A Claim and Get Claim Reference Number

The IFFCO Tokio Claim Department will contact you with a unique claim reference number and a list of all required documents.Meanwhile, you need to fill all the details correctly in the claim form.

Step 3: Get Bike Surveyed

The company will send a surveyor to check the condition of the bike before it is sent for repairs. In case of a major accident, the company sends surveyors to investigate the scene before moving it to the garage.

Step 4: Repair and Reimbursement

Get the bike repaired at the garage of your choice and make the required payment. Then, along with the bills and receipts, submit all of the documents asked by the company to request reimbursement of the claim.After considering all the deductibles and depreciation amount the company finally disbursed the amount.

Common IFFCO Tokio Bike Insurance Claim Rejection Reasons

There are certain conditions that must be fulfilled by the policyholder at the time of filing a claim. Following are the common reasons for two-wheeler insurance claim rejection:

• Intoxication
• Act of negligence
• Driving without license
• Misinterpretation of facts
• Registering a fraudulent Claim
• Claiming wrong coverage amount
• Malfunctioning of the vehicle parts
• Lack of details required to process the claim
• Delay in intimation about the mishap to the insurer.

IFFCO Tokio No Claim Bonus

Every claim-free year is rewarded with a No Claim Bonus by insurance companies, and IFFCO Tokio's bike insurance is no exception.The NCB is a cumulative reward and goes up to 50% in the fifth year. However, keep in mind the reward is only given with own-damage covers either as a standalone cover or as part of a comprehensive plan. Since the benefit increases within every consecutive claim-free year, even a minor insurance claim will disable the reward. As a result, policyholders are advised to file a claim only if the harm caused by the mishap is significant.

To keep your NCB intact it is crucial that you remember to renew your bike insurance on time. Failure to do so will also make the NCB null and void. Insurance companies will give you an extra 90 days as a grace period to help you to remain on schedule with your insurance; but, any further delays may result in the cancellation of your NCB.The NCB is a reward given for safe driving hence, you do not lose the benefit when you change insurance providers or even sell your two-wheeler and purchase a new one.

There are certain conditions that must be fulfilled by the policyholder at the time of filing a claim. Following are the common reasons for two-wheeler insurance claim rejection:

• Intoxication
• Act of negligence
• Driving without licence
• Misinterpretation of facts
• Registering a fraudulent Claim
• Claiming wrong coverage amount
• Malfunctioning of the vehicle parts
• Lack of details required to process the claim
• Delay in intimation about the mishap to the insurer.

IFFCO Tokio No Claim Bonus

Insurance companies provide a No Claim Bonus as a reward for every claim-free year, IFFCO Tokio’s bike insurance is no exception. The NCB is a cumulative reward and goes up to 50% in the fifth year. However, keep in mind the reward is only given with own-damage covers either as a standalone cover or as part of a comprehensive plan. Since the benefit increases within every consecutive claim-free year, even a minor insurance claim will disable the reward. Hence, it is always advised that policyholders refrain from filing a claim unless the damage due to the mishap is significant.

To keep your NCB intact it is crucial that you remember to renew your bike insurance on time. Failure to do so will also make the NCB null and void. Insurance providers offer an additional 90 days as a grace period to help you remain on track with your insurance, however, any further delays after this period will lead to the cancellation of your accumulated NCB. The NCB is a reward given for safe driving hence, you do not lose the benefit when you change insurance providers or even sell your two-wheeler and purchase a new one.