IFFCO Tokio Third-Party Bike Insurance
Third-party insurance is meant to protect the third-party damage that may be caused by an insured vehicle. It is a single cover, designed exclusively to protect the third-party liabilities arising out of property damage, death, or disability. IFFCO Tokio third-party bike insurance helps in reducing third-party liabilities and is a cost-effective plan that provides you relief by saving you from unwanted legal liabilities and stress brought about by heavy financial expenses.
IFFCO Tokio Third Party Bike Insurance v/s Comprehensive Bike Insurance
| Features | IFFCO Tokio Third Party Bike Insurance | IFFCO Tokio Comprehensive Bike Insurance |
|---|---|---|
| Coverage | Covers damage to third-party property or injuries | Covers third-party liability, own bike damage, and personal injuries |
| Legal Requirement | Mandatory as per Indian law | Optional but recommended for full protection |
| Own Bike Damage | Not covered | Covered for accidents, theft, fire, and natural disasters |
| Personal Injury Coverage | Not covered | Covered under personal accident add-ons |
| Third-Party Liability | Covers third-party property damage and injury claims | Covers third-party property damage and injury claims, plus own damages |
| Premium Cost | Lower compared to comprehensive insurance | Higher due to broader coverage |
| Add-On Covers | Not available | Available (e.g., zero depreciation, return to invoice, etc.) |
| Theft Protection | Not covered | Covered under comprehensive policy |
| Natural Disasters | Not covered | Covered (e.g., floods, earthquakes, etc.) |
| Accidental Damage | Not covered | Covered for own vehicle |
What is Covered and Not Covered in IFFCO Tokio Third Party Bike Insurance
1Inclusions (What is Covered)
- It covers third-party property damage caused by your bike.
- This policy covers legal liabilities due to injuries or death of a third party in an accident.
- Give financial protection for third-party claims in case of an accident involving your bike.
- The policy fulfils the mandatory legal requirements for riding a bike in India.
2Exclusions (What is Not Covered)
- Damage to your own bike in case of an accident.
- Theft or loss of your bike.
- Personal injuries to the bike owner/rider.
- Damages caused due to natural disasters (floods, earthquakes, etc.).
- Damage due to man-made disasters like riots or vandalism.
- If the accident occurs while breaking traffic rules or riding under the influence of alcohol or drugs.
- Consequential damages or mechanical/electrical breakdowns.
FAQs
Yes, you can easily purchase a third-party two-wheeler insurance policy online. It’s a quick and cost-effective way to get insured. You can compare the benefits and features of different plans, helping you choose the best policy that fits your needs.
If the third party gets injured, suffers permanent damage, or even dies because of the accident, then an insurance company will provide a settlement amount to the person or nominee in the policy document.
Yes, in India, you must have at least a third-party insurance policy for all two-wheelers in India. It covers any damages or losses caused to a third party in an accident.
If you lose your insurance policy document, don’t worry. You can download a copy of your policy from the IFFCO Tokio website or request a duplicate copy through their customer service.
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