IFFCO Tokio Own Damage Bike Insurance

Riding a two-wheeler involves various risks every day for you and your family. Getting two wheeler bike insurance would definitely Read More

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Own damage bike insurance comes as a cover for the expenses of accidents, theft, vandalism, fire, explosion, and natural and artificial calamities that require repairs. Purchasing this cover with a third party makes sure that you have complete protection for your bike and others on the road.

Iffco Tokio Third Party Comprehensive Standalone Own Damage Zero Depreciation Claim Renewal Premium Calculator Policy Download Customer Care

Standalone Bike Insurance v/s Third-Party Bike Insurance v/s Comprehensive Bike Insurance

Features	Own Damage Insurance	Third-Party Insurance	Comprehensive Insurance
Coverage your own bike	Covers damages to your bike only	Not covered	Covers damages to both your bike and third-party liabilities
Third-party liability coverage	Not covered	Covers third-party property damage and injuries	Covers both third-party liabilities and own bike damage
Coverage for theft	Yes, bike theft is covered	Not covered	Yes, bike theft is covered
Coverage for natural disasters	Yes, covers natural disasters like floods	Not covered	Yes, covers natural disasters
Coverage for man-made events	Yes, covers vandalism and riots	Not covered	Yes, covers man-made events
Personal accident cover	Optional (through add-ons)	Not included	Available as an add-on
Premium cost	Moderate	Lower as it only covers third-party liabilities	Higher due to broader coverage
Add-on covers available	Available (e.g., zero depreciation)	Not available	Available (e.g., engine protection, zero depreciation)
Legal requirement	Not required	Mandatory by law	Optional but highly recommended
Best for	Those wanting protection for their own bike	Those seeking basic, mandatory protection	Those seeking full coverage for bike, third-party, and theft

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What is Covered and Not Covered Under IFFCO Tokio Own Damage Bike Insurance?

Inclusions (What is Covered)
Accidental damage This policy covers all the damages to your bike due to accidents.Theft It provides coverage if your bike is stolen.Fire The policy also covers damages caused by fire, explosions, or self-ignition.Natural calamities It also offers protection against damage caused by floods, earthquakes, storms, etc.Man-made calamities Covers damage from riots, vandalism, or other civil disturbances.Transit damage Covers damage during transit via road, rail, or air.
Exclusions (What is Not Covered)
Normal wear and tear This does not cover routine wear and tear or ageing of the bike.Mechanical or electrical breakdowns Excludes coverage for any mechanical or electrical failure.Riding under the influence Claims will not be honoured if the rider is under the influence of alcohol or drugs.Illegal use The policy will not provide any coverage if the bike was used for illegal activities.Riding without a valid licence Your claims will be rejected if the rider doesn’t have a valid driving licence.Consequential losses Damages that occur indirectly or due to negligence (e.g., riding with a damaged part) are also not covered.

How to Buy IFFCO Tokio Own Damage Bike Insurance with Square Insurance?

Step 1: To get started, visit the website of Square Insurance "https://www.squareinsurance.in/".Step 2: Now click on the" Bike Insurance" option from the "Insurance Products" menu.Step 3: To get a plan for a new bike, click "Got a New Two-Wheeler."Step 4: For an old bike, enter the bike's registration number and click "View Plans."Step 5: Now, fill in details like RTO, make, model, variant, and registration year along with others to move to the next step.Step 6: The plan dashboard will open on your screen. You can go through the plans and click on an insurance plan given by IFFCO Tokio.Step 7: Now just pay for the selected plan, and the insurance document will be received at the email address within a very short period.