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iffco tokio two wheeler insurance

Bike Insurance Plans

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IFFCO Tokio Third-party Two Wheeler Insurance

The number of fatalities from accidents is increasing, which makes insurance requirements necessary. It is required by the Motor Vehicles Act to have third-party insurance, whether you drive a superbike or a scooter.

In India, it is illegal to drive without third-party insurance; you have to have it. Unforeseen events such as accidents, theft, natural disasters, or vehicle loss are always a possibility; insurance protects you against these risks. It will offer you financial security if someone dies in a road accident that results in damage to a third party’s vehicle. If you are looking to buy third-party insurance for your beloved bike, then you may consider IFFCO Tokio third-party bike insurance. Continue reading on to learn more about the third-party bike insurance by IFFCO Tokio.

IFFCO Tokio third-party bike insurance provides coverage to the insured bike for causing accidental injury or damage to the third party. In the event of an accident, the third-party bike insurance by IFFCO Tokio is intended to provide the policyholder with financial protection against any property damage, death, or disability caused to a third party. It shields bike owners from significant financial outlays as well as the worry of facing legal ramifications.

IFFCO Tokio Third-Party Bike Insurance Features and Benefits

Here is the list of the main features and benefits of choosing IFFCO Tokio third-party two-wheeler insurance. 

Accidental Death& Disability:

If an accident results in a third party’s death or permanent disability, IFFCO Tokio pays compensation on the policyholder’s behalf. The amount of compensation is decided by the court.

Legal Requirement:

The Motor Vehicles Act of 1988’s rules and regulations require third-party motor insurance. In India, it is against the law to operate a motorcycle of any kind without third-party insurance.

Accidental Property Damage:

IFFCO-Tokio third-party bike insurance will pay up to Rs 1 lakh in costs if an insured two-wheeler accident results in property damage to a third party.

Accidental Physical Injuries:

If an insured two-wheeler is involved in an accident and a third party sustains injuries, the bike owner is liable for covering the victim’s entire medical bill, including hospital stays, prescription drugs, and other costs. The money provided by this third-party bike insurance helps cover these costs.

Personal Accident Cover:

If the bike’s owner-driver does not already have coverage, it offers personal accident coverage up to Rs. 15 lakh.

Peace of Mind:

When driving on Indian roads, you can drive with confidence, knowing that you are abiding by the law and that you are financially shielded from any liabilities to third parties if you have third-party bike insurance by IFFCO Tokio.

Exclusions Under the IFFCO Tokio Third-Party Bike Insurance

Listed below are the things not covered under the Third-Party two-wheeler insurance by IFFCO Tokio.

Own Damages:

The “Own Damage” coverage is not offered under IFFCO Tokio third-party bike insurance. Thus, you will not receive reimbursement for any harm your vehicle sustains from an accident, theft, or natural or man-made disasters.

Driving While intoxicated:

The third-party two-wheeler insurance by IFFCO Tokio will not be able to pay for damages if the driver of the vehicle was involved in an accident because they were intoxicated.

Driving Without a Valid Driving License:

The policyholder’s claim for coverage will be denied if they are operating their vehicle without a valid driver’s license.

Outside Geographical Limit:

Any damage or injuries that happen outside of the specified geographic area are not covered by third-party bike insurance by IFFCO Tokio. 

Unauthorized Use of Vehicle:

Coverage will not be honoured if the insured vehicle has been used for any illegal activities (like racing).

Unauthorized Person Driving the Vehicle:

If the insured vehicle is being driven by someone other than the registered owner at the time of the accident, the coverage might not be paid.

Frequently Asked Questions

Yes, for commercial bikes to operate lawfully on Indian roads, they must also carry a minimum level of third-party insurance.

If someone dies in an accident covered by third-party insurance, the insurer will compensate the nominee.

No, damages from natural or man-made disasters are not covered by the IFFCO Tokio third-party two-wheeler insurance.

The minimum coverage period for new bikes is five years. However, the third-party bike insurance by IFFCO Tokio needs to be renewed annually after that.