Bike Insurance
Buy or Renew Bike Insurance Policy Online
Buy or Renew Bike Insurance Policy Online
Bike insurance or Two Wheeler Insurance in India provides financial protection against physical damage, theft, and third-party liabilities arising from the use of your two-wheeler. Here are some reasons why you need bike insurance policy in India :
There are three types of bike insurance plans, i.e. third-party bike insurance, own damage bike insurance & comprehensive bike insurance. These Bike Insurance plans offer different levels of protection. Let us see the coverage for each type of bike insurance policies :
Third Party Bike Insurance plans only covers any damage to a third party.
Key Things to remember :
Own Damage bike insurance policy covers only damage to insured bike.
Key Things to remember :
Comprehensive bike insurance policy covers one’s own damage as well third-party liabilities.
Key Things to remember :
Buy/Renew Bike Insurance Policy Online
IFFCO-Tokio is known for offering various features in their bike insurance policies that cater to the needs of two wheeler owners. Some of the notable features include :
Bike Insurance policy comes with access to cashless repair services at the network garages.
Our team is providing round-the-clock assistance for claim settlement and support.
Our high claim settlement provides piece of mind to policyholder.
Promising effortless, paperless & quick claim settlement for minor damage upto Rs. 50,000.
Making it convenient for customers to buy or renew policies through our website or mobile app.
Servicing our customers for more than 23 years.
Buy bike insurance plan from more than 20,000 agents and branches.
Providing flexibility to choose coverage options according to individual needs.
Bike Insurance Features | Advantages of IFFCO-Tokio Bike Insurance |
---|---|
Premium | Starting at only ₹1.5 per Day* |
Damages to Third-Party | Covered |
Third party Liability | Covered |
Own Damage(OD) Cover | Available in Comprehensive Bike Insurance & Own Damage Bike Insurance |
No Claim Bonus (NCB) | Get up to 50% Discount |
Easy Claims | App-based Claim Settlement within 4 Hours |
Personal Accident (PA) cover | Available. Coverage up to Rs. 15 lakhs for permanent disability/death. |
Claim Assistance | Paperless Experience |
Claim Settlement | Quick Claim Settlement for minor damage upto Rs. 50,000 |
Cashless Repair | Available at network garages across India |
Instant Online Renewal | Available via website and mobile app. |
Buy/Renew Bike Insurance Policy Online
The coverage in your bike insurance policy depends on the type of policy that you have selected. IFFCO Tokio Comprehensive Bike Insurance cover the following types of financial liabilities :
Covers repair or replacement costs for your bike in case of an accident.
Protects against financial loss if your bike is stolen.
Covers damage due to events like floods, earthquakes, cyclones, etc.
Covers damage caused by fire-related incidents.
Offers compensation for bodily injury or death of the owner-driver of the insured vehicle due to an accident.
Covers bodily injury, death, or property damage to a third party in an accident involving your bike.
Bike Insurance plans have a standard set of exclusions that are not covered by the policy. Let us look at some of the situations in which case your bike insurance policy will not be covering the damages caused to your bike :
Damages while riding under the influence of drugs or alcohol
Damage due to the driver's negligence
Wear and tear of the bike
Mechanical or electrical breakdown
Damage during war and similar conditions
Our customers have rated us
Based on 1401 reviews
IFFCO-Tokio always commit to their promises, which is why their services are unmatched.
IFFCO Tokio provides the best bike insurance policy in the market.
You can be assured to get the best plans for your two-wheeler insurance policy from IFFCO Tokio. The process to claim is also really easy and smooth. We just loved it.
I laid my claim for a two-wheeler insurance policy from IFFCO Tokio when my vehicle met an accident. They were really helpful and made us feel welcomed.
I am a policyholder of a two-wheeler insurance policy from IFFCO Tokio. When it came to make claim for the first time, they made the process very convenient and easy. We are thankful for the same.
Makes riding my bike worry-free. Thank you, IFFCO Tokio!
Buy/Renew Bike Insurance Policy Online
You have multiple options to register a claim for your Bike Insurance :
QCS - (Mobile App)
Telephonic (Call Centre)
Online (Website)
Let’s check these steps in detail –
Register a claim via QCS App :
QCS, or Quick Claim Settlement, applies to minor claims of under Rs. 50,000. Simply upload the necessary documents on the app, and upon approval, your claim will be settled promptly.
Register a claim via Call Centre :
You can register a claim for compensation online or by reaching us on 1800-103-5499 or 0124- 4285499. Our customer care executives will guide you with the further procedure.
Register a claim via Website :
To make a claim online, visit our website, then log in with your registered Email ID and Password. When you log in, just click on find the ‘make a claim’ option and follow the steps mentioned.
Get cashless claim settlement at one of our network garages. The cashless claim process involves three simple steps :
Intimate - Intimate your claim by any of the method suggested above.
Survey - Upload documents & photographs of the damage caused to your bike.
Claim Settlement - Claim settlement directly with you or network garage.
Intimate
Survey & Verify
Settle
80% CUSTOMERS CHOOSE THIS |
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Coverage under Bike Insurance | Comprehensive Bike insurance | Third Party Bike insurance |
---|---|---|
Accident Cover | ||
Theft Cover | ||
Natural Calamities Cover | ||
No Claim Bonus upto 50% | ||
Choice of add-ons | ||
Customization of bike value | ||
Cashless Claims | ||
Quick Claim Settlement | ||
Personal accident cover | ||
Damage to third party property | ||
Injury to a third party person | ||
No hefty fines levied if valid policy in place |
Bike insurance, also known as motorcycle insurance or Two Wheeler Insurance, provides several benefits to riders and owners of motorcycles. These benefits can vary depending on the type of coverage you choose and the specific insurance policy, but generally, bike insurance offers the following advantages :
Provides Financial Coverage
Fulfills Legal Requirements
Protection against Hefty Fines
Optional Add-ons
Let's check these important points in a bit more detail.
With a Bike Insurance policy, you will be financially secured in case your bike gets damaged due to any natural or man-made disaster. This will help you avoid hefty expenses that you would have to pay from your own pocket.
According to the Motor Vehicle Act, it is compulsory to have at least a basic third-party insurance policy. Without this policy, it is illegal to ride your bike on Indian roads. Hence, with a two-wheeler policy covering you, you have nothing to worry about!
Riding your bike on Indian roads without having a motor insurance policy could result in you ending up with a hefty fine. With a Bike Insurance policy in place, you can easily avoid this unnecessary hassle.
You can also opt for better coverage in the form of a comprehensive bike insurance policy. Such policies also allow you to include various useful add-ons such as towing, zero-depreciation, no claim bonus, etc.
Buy/Renew Bike Insurance Policy Online
If you are also among those people, who thinks they don’t need insurance for their two wheeler, then you are at right place. If have listed few reasons why you don’t need bike insurance. Read on to find why -
Because bikes have the ability to not get damaged or stolen.
You possess supernatural abilities to dodge every potential danger on the road like reckless drivers, avoiding potholes, and outrunning natural disasters.
You’ve a money tree which pays for repairs, medical bills, and compensating others for damages caused by your bike.
Legal requirements for bike insurance is not for you, this is only for other ordinary folks.
You have seen your future and can change it as per your wish.
You are a superhero on two wheels who is immune to accidents or any form of damage.
While it's fun to play with sarcasm and entertain the thought of not needing bike insurance, the practical choice is clear: in the real world, you do need bike insurance.
There are two ways to purchase a bike insurance. You can either visit our branch or you could go online to make the purchase with just a few clicks and taps. The second option is fast becoming the ‘go-to’ alternative for many motorists. Let us explore the reasons behind this or we can say let us explore the benefits of buying two wheeler insurance online :
Buy/Renew Bike Insurance Policy Online
You can buy two wheeler insurance online with following simple steps :
Buy/Renew Bike Insurance Policy Online
To enjoy continued coverage & to ensure you are legally riding your bike, you must keep your bike insurance policy valid at all times. For this, you need to renew your Two Wheeler Insurance plan well before its expiry date. You can renew your Two Wheeler Insurance plan via two methods. We have explained them below :
Branch Visit :
You can visit your nearest IFFCO Tokio branch/agent to renew bike insurance policy. You would have to carry the Two Wheeler Insurance policy document of your exiting bike insurance plan and means of payment accepted by the insurance provider. Just hand over the Two Wheeler Insurance policy document to one of the executives along with the renewal payment and they will do the rest. Your renewed Two Wheeler Insurance policy document would be mailed to your residence in a short while. The only hassle you will face while of renewing a Two Wheeler Insurance plan at the branch would be that you have to physically visit the branch or to an agent.
Renew Your Bike Insurance Policy Online :
If you want to renew your two wheeler insurance and don’t want to visit our branch, you can do the renewal online through our website or App. The process of renewing bike insurance online is very simple and is mentioned under.
Buy/Renew Bike Insurance Policy Online
Premium of Bike Insurance consists of two main parameters. These are -
The Third party bike insurance premiums (TP) are fixed by IRDAI depending on bike engine capacity, while the Own Damage Premium (OD) depends on several other factors. We will check these both factors in detail in upcoming topics.
This is stipulated by the Insurance Regulatory and Development Authority of India (IRDAI) and it is directly proportional to your bike’s cubic capacity.
Cubic capacity | Premium with effect from 1st June 2022 (Rs.) |
---|---|
Not exceeding 75cc | Rs. 538/- |
Exceeding 75cc but not exceeding 150cc | Rs. 714/- |
Exceeding 150cc but not exceeding 350 cc | Rs. 1,366/- |
Exceeding 350cc | Rs. 2,804/- |
The standalone Own Damage (OD) bike insurance premium is calculated after considering several factors such as make & model of the bike, geographical location of the bike to be insured, age of the two-wheeler, cubic capacity of the bike and various other factors. However, at IFFCO-Tokio, we've simplified things for you. Our bike insurance calculator provides the exact Own Damage (OD) premium for your bike using just the registration number.
Simple steps to calculate own damage (OD) bike insurance premium are –
Have you ever wondered why different people are charged different insurance premiums? Well, this is because the price of your bike insurance policy is calculated keeping in mind several factors. Some of these factors include :
One of the first things that affect the price of your bike insurance policy is the type of plan you opt for. Third-party bike insurance plans are the most basic and so cost less but offer limited cover. In case of comprehensive bike insurance, your choice of add-ons will also influence the cost of the policy.
The type of bike you have matters too. If you own a simple bike for everyday use, your insurance costs less. But if you have a fancy, expensive bike, the insurance costs more.
The higher the coverage amount (IDV) the higher the cost to insure it! In case of a total loss, the insurance company has to provide the approx. market value of your bike i.e. IDV, which is bound to on the higher side for a more expensive motorcycle.
The cost of the third party component of your plan depends heavily on the cubic capacity of your bike. The higher the cubic capacity, the more premium you have to pay for a third party bike insurance policy.
As your bike gets older, its market value decreases and so does your insurance provider’s liability in case of a claim. Therefore, as your bike gets older, your bike insurance premiums also decrease.
People may include electrical or non-electrical accessories cover in bike insurance and this can affect your bike insurance premium.
Did you know you can lower your bike insurance cost without changing your coverage? It sounds unbelievable, but it's true! Just follow these simple tips :
Remember, while reducing premiums is beneficial, ensure your policy still offers adequate coverage for your bike and yourself.
Buy/Renew Bike Insurance Policy Online
If you love the freedom of open road, then you will love the freedom of choices we provide. We offer easy-to-understand and affordable third party bike insurance plans, comprehensive & depreciation waiver in your bike insurance plans. You can also opt for long-term third-party bike insurance cover or a single-year own damage insurance. Alternatively, you could bundle the two together and enjoy better savings.
As far as protection is concerned, our bike insurance policies provide coverage against accidents, theft, natural calamities like cyclones, floods, storms, lightning, earthquake, landslide, etc. When you ride with us, you get complete protection, on and off the road.
Cashless Repair : Vast network of cashless garages PAN India.
High Claim Settlement : High claim settlement provide piece of mind.
Quick Claim Settlement : Instant claim settlement upto 50,000 through QCS app.
24*7 Support : Our team is available for your support even on holidays.
Trusted Brand : Servicing our customers for more than 22 years.
Wide Network : You can buy bike insurance plan from more than 20,000 agents and branches.
Buy/Renew Bike Insurance Policy Online
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Buy/Renew Bike Insurance Policy Online
Write us at support@iffcotokio.co.in
Call us on 1800-103-5499