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IFFCO Tokio Third-Party Car Insurance

According to the Motor Vehicles Act of India, if anyone owns a car (be it brand-new or second-hand), he/she needs to have a third-party liability policy. Therefore, whether anyone wants to buy a comprehensive policy for the overall protection of his car or not, he needs to purchase a third party policy by law. When it comes to a car insurance policy, IFFCO Tokio is worth mentioning because of the policies’ extensive benefits and facilities and the customer-friendly nature of the company. Unlike a comprehensive policy, a third party car insurance policy only covers damages and losses caused to the third party as a result of an accident that directly involves the insured car.

What Are The Inclusions of IFFCO Tokio Third-Party Car Insurance?

This is a basic policy and does not offer benefits and facilities like a comprehensive car policy. However, since it is mandated b law, anyone who owns a car must have this policy. Therefore, the benefits of a third party car insurance policy under this insurer are as follows.

  • This policy offers personal accident cover up to Rs. 15 lakhs.
  • If the insured person’s car meets an accident, and if it damages the property of the third party, the company will pay the compensation for that.
  • Under the same circumstance, if the third party gets any bodily injury or suffers an untimely death, the policy will be there to take care of the financial expenses.
  • Under this policy, no hefty fines are levied on the policy until it is active.
  • If the company wants, it may also take care of the legal liabilities.
  • The company has a wide network that comprises more than 20,000 agents and official branches. Therefore, if a policy-seeker wants to buy a third party car insurance plan under this insurer, he/she can find easy assistance all over India.
  • Easy online renewal is available under this policy.

How To Buy IFFCO Tokio Third-Party Car Insurance?

To keep up with the growing demand for digitalization, IFFCO Tokio has come up with a number of online facilities. One such facility is purchasing a car policy online. So, if anyone wants to buy a third party car policy online, he/she can do it easily by following the below simple steps.

  • Go to the official website of the IFFCO Tokio General Insurance Company.
  • On the homepage, there will be the Car Insurance tab. Click on that.
  • After that, select the Third Party Policy option and click on the Buy Now tab under it.
  • Then, you have to provide some basic information about your car such as registration number, make model, claims history, etc. be careful while putting the details as a single mistake can bring error to the entire procedure.
  • Based on these details, the car insurance calculator of the company will provide an instant quote.
  • The next step is to customization the plan. you can add an additional cover(s) to strengthen your policy.
  • Once you finish putting in the required details, check the quote.
  • If no discrepancy is found, you are now ready to purchase the policy by paying the amount and choosing one of the most convenient payment methods available with the insurer.
  • Upon successful payment, you will receive a notification regarding the same in your registered mobile number and/or email ID.
  • Download and save the policy document for future reference. You can also make a printout of that for better convenience.

Claim Process of IFFCO Tokio Third Party Car Insurance

  • As soon as the accident happens, the policyholder needs to inform the insurer.
  • He/she can register the claim either online, by visiting one of the official branches, via SMS, using their official email ID, or by calling the company.
  • On receipt of claim intimation, the insurer will forward a claim form. Or else the claimant can also download the claim form from their official website.
  • Submit the completed claim form along with an estimate of the loss to the insurer. It is preferable to submit an itemized estimate with separate values.
  • In case of an accident filing, FIR is mandatory.
  • The insurer will arrange for an inspection of the damaged items to assess the loss. In case of major losses, a specialist-licensed surveyor is deputed on behalf of the company.
  • The insured has to provide the required documents to substantiate the extent of the loss.
  • On agreement of the claim amount between the insured and the insurer, the claim is settled.
  • Excess, as stated per the policy terms and conditions, will be deducted from the claim payable.

Few points to remember in case of a third party claim:

  • Notice of an accident (not necessarily a claim) involving third parties should be reported to the insurers.
  • The insured may be interested to pay compensation without going into whether he is liable to pay or not. It is, therefore an express condition of the policy that no claim should be admitted or a compromise arrived at without the approval of the insurers.
  • In case of major claims, the insurers may be willing to defend the criminal cases against the driver also on the basis of which compensation claims may be decided in the civil courts.
  • Every accident involving third parties is required to be reported to the police. M.V.Act provides that a third party victim can proceed against the insurers directly. If the alleged accident is not reported to the insurers, the insurers can consider this a violation of policy conditions. In such circumstances, even if insurers are required to pay compensation by a court of law, they can recover such claim amounts from the insured for violation of specific policy conditions.

Frequently Asked Questions

Here is the list of the frequently asked questions related to IFFCO Tokio Third Party Car Insurance.

The insurance on a vehicle is applicable even if another person is driving the vehicle, with your permission. The third party liability insurance of the person driving your vehicle will pay the amount of the loss up to a certain limit.

A fixed deductible is a fixed amount a policyholder must pay during a claim. Values for fixed deductibles are set by the IRDAI (Insurance Regulatory and Development Authority of India) depending on the car engine’s cubic capacity. Fixed deductible charges are commonly known as file charges or compulsory charges.

On the other hand, a voluntary deductible is the share of the claim that is paid by the car insurance policyholder voluntarily from his/her pocket. If the voluntary deductible is higher, then the car insurance premium will be lower.

IDV stands for ‘Insurer Declared Value’. It is the listing price of your vehicle minus depreciation. It is the maximum compensation your insurance provider will offer in case of a total loss of your vehicle due to an accident, theft, etc.

This is stipulated by the Insurance Regulatory and Development Authority of India (IRDAI), and it is directly proportional to your car’s cubic capacity.

Cubic capacityPremium with effect from 1st June
Not exceeding 1000ccRs. 2094
Exceeding 1000cc but not exceeding 1500ccRs. 3416
Exceeding 1500ccRs. 7897

In that case, you can call on 1800-103-5499, which is IFFCO Tokio’s toll-free number. You will get connected with one of the company’s customer care executives who will help you out with a duplicate document of the auto insurance policy. You should also know that if you have lost your physical copy of your policy document, you still have one copy of it which was emailed to you when you bought it, so you can always take a printout.

The necessary documents are as follows:

  • Online third party insurance policy
  • Copy of driving license
  • Copy of your duly filled and signed claim form
  • Bills and receipts (Original)
  • RC copy of the vehicle
  • FIR or panchnama
  • Witness of the incident, if any.
  • Any other documents as demanded by the company.

You can contact IFFCO Tokio by following any of the below methods:

  • You can call their toll-free number 1800-103-5499 (8 am to 12 am). Alternatively, you can also call: (0124) 428 5499
  • You can avail of their WhatsApp service at 7993407777. This number cannot be used for calling.
  •  You can directly write to the company using their official email ID Or else, use their Contact Us Form that is available on their official website.
  • You can also send a letter to the company stating your inquiry at their postal address:

Corporate Office

IFFCO Tower,

Plot No. 3, Sector 29, Gurgaon – 122001,

Haryana, India.

  • Apart from the above methods, you can directly visit the nearest official branch of the company. their customer executives are experienced and knowledgeable enough to resolve your issue(s). You can detect the nearest branch using the branch locator facility available on their website.