IFFCO Tokio Bike Insurance Claim
IFFCO Tokio Bike Insurance offers a reliable solution for its customers, with a high claim settlement ratio of 95.82% in the 2022-23 financial year. The company has helped thousands of customers with an easy and smooth claims process, making it one of the best options for bike insurance.
How to IFFCO Tokio Bike Insurance for Different Situations
1To Claim Bike Accident
- Step 1: Ensure Safety: If you meet with an accident, make sure you're safe. File an FIR if necessary.
- Step 2: Visit a Network Garage: Then you need to take your bike to a garage in your insurer’s network. The garage will start the claim process and inform the insurer.
- Step 3: Inspection of Damage: Now the insurer will send a surveyor to check the damages of your bike and evaluate the situation.
- Step 4: Repair Approval: Once the surveyor approves, the garage will begin the repairs.
- Step 5: Final Inspection: After the repairs, the surveyor will inspect the work and issue a Delivery Order (DO).
- Step 6: Cashless Claim: If it’s a cashless claim, the insurer will pay the garage directly.
- Step 7: Reimbursement Claim: For reimbursement, you pay the garage, and the insurer will reimburse you according to your policy.
2To Claim Bike Theft
- Step 1: File an FIR: The first thing you have to do is to file an FIR in case of theft of your bike and also inform your insurance company about the theft of your two-wheeler.
- Step 2: Submit Documents: Submit all the documents needed by the insurer, including the original keys of your bike.
- Step 3: Non-Traceable Certificate: In case your bike cannot be traced within a specified time, the police will issue a non-traceable certificate.
- Step 4: Claim Settlement: With that certificate, the insurance company will consider it as a total loss and will pay according to the Insured Declared Value (IDV) of your bike.
IFFCO Tokio Third Party Bike Insurance Claim
1Step 1
Report the Accident: If you hit someone else's bike in an accident, first you need to inform both the police and your insurance provider.
2Step 2
Gather Details: If someone hits your bike, get their insurance details and submit a third-party liability claim.
3Step 3
Court Involvement: The insurance company will now forward the case to the Motor Insurance Claim Tribunal for review.
4Step 4
Tribunal Decision: The tribunal will consider the case and decide the compensation amount to be paid.
5Step 5
Fault-Based Compensation: If you're at fault, the process remains the same, and you will need to compensate the third party as per the tribunal's decision.
Note: In third-party damages, there are 2 cases:
- In case of property damage, you will only get the compensation upto 1 lakh rupees.
- In case of injury, disability, or death, the compensation amount is decided by the Tribunal court.
Required Documents For Claiming IFFCO Tokio Bike Insurance Policy
Here’s a list of documents that you may require during the claim process.
1In Case of Accidental Damages
- Duly filled claim form
- Copy of the bike insurance policy
- FIR (if required)
- Repair bills and receipts
- Surveyor’s report
- RC (Registration Certificate) of the bike
- Driving licence of the rider at the time of the accident
2In Case of Bike Theft Claims
- Duly filled claim form
- Copy of the bike insurance policy
- FIR copy
- No Trace Report from the police
- RC of the bike
- Keys to the bike
- Purchase invoice for the bike
- ID proof of the policyholder
3In Case of Third-Party Claims
- Duly filled claim form
- Copy of the bike insurance policy
- FIR copy
- RC of the bike
- Driving licence of the rider
- Any legal notices received from the third party
Common Reasons for IFFCO Tokio Bike Insurance Claim Rejection
Here are some conditions where IFFCO Tokio can reject claims:
- Driving under the influence of alcohol or drugs
- Negligent driving or carelessness
- Driving without a valid licence
- Misinterpreting the coverage amount in claims
- Accidents caused by poor vehicle upkeep
- Providing false information
- Submitting fraudulent claims
- Not providing enough details for the claim
- Delaying in reporting the accident to the insurer
FAQs
You can submit your claim request by calling their 24/7 customer care at 1800-103-5499 or online with their help in raising a claim. You can also walk into any of their offices located near you during business hours.
You can check the status of your claim online by logging into IFFCO Tokio's website.
Basic documents that include an insurance policy, claim form, ID proof, and others related to the accident, either FIR or repair bills, based on the case of the claim.
The claim settlement time mainly depends on the type of claim and the documents you provide. Normally, claims get settled within a few days once you submit all the documents.
Yes. It is always a good idea to report the accident to the insurance company as soon as possible, preferably within 24 hours to facilitate easy processing of your claim.
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