IFFCO TOKIO THIRD PARTY CAR INSURANCE

Overview

IFFCO-TOKIO general insurance company was founded in the year 2000. It is a joint venture between Indian Farmers Fertilizer Co-operative Limited (IFFCO) and Tokio Marine Group which is one of the largest insurance companies in Japan. It is one of the leading insurance companies in India with a turnover exceeding 1400 crores.

Iffco Tokio Third Party Car Insurance

In India, all car owners must have at least third-party insurance. Third-party car insurance provides security against any legal liability arising from damage to a third party when the policyholder is at risk. In short, TP covers damages and injuries caused by the insured vehicle to the third person or property.

The third party car insurance is mandatory by law according to the India Motor Tariff Act, 1988. The third party car insurance in iffco tokio also helps for various processes in the RTO such as Re-registration of your vehicle, Transfer of ownership, etc.

IFFCO TOKIO provides Third party car insurance policy, in which coverage is provided for injuries or death caused to the third party up to INR 7,50,000.

Iffco Tokio Third Party Car Insurance Benefits

The benefits of third party car insurance in IFFCO TOKIO are -

1) It provides legal cover as well as financial Assistance

Third-party car insurance provides legal liability in case of death or disability to any third person. It also provides coverage to any loss or damage to the third person's property.   This type of insurance is mainly beneficial for a third person or the third party and protects the owner-driver of the motor vehicle.

2) Easy and very simple process to procure third party car insurance-

Third-party car insurance policies are very easy to access and very easy to buy and renew. Anyone who knows the internet can buy or renew a policy online. The process is very quick and simple as well. Therefore it can easily be availed by anyone as per their convenience and time.

Helps in RTO related work –

A third party insurance from iffco tokio helps in RTO related work such as transfer of ownership, Re-registration of your Registration certificate, Issuance of fitness certificate of your vehicle, etc.

What is the coverage under third party car insurance policy of IFFCO-TOKIO?

Third-party car insurance provides legal liability in case of death or disability to any third person. It also provides coverage to any loss or damage to the third person's property. Here, the direct benefit is not for the insurer or the insurance company, but it is for a third party. 

 PROPERTY DAMAGE- In case your vehicle caused some damage to the property of the third party in an unfortunate accident .then in this case you don't have to worry about the expense arising from the incident. Third-party car insurance ensures that the insurer will pay for the damages to the third person, and hence the insured can safely step out of this situation of accidents

 DEATH- In some situations, if you are involved in an accident, which causes the death of a third party, then you are responsible for this unfortunate event. In such cases, you do not have to worry because your insurer takes care of this matter. In such death situations, the claims are settled as per the court tribunals. The court will decide the compensation as per the earning capability of the third party

 BODILY INJURIES- Medical coverage is offered for all types of bodily injuries, no matter how intense the injuries of a third party. Well, known insurance companies understand that the events are caused unfortunately or unintentionally and these events cannot be controlled .hence insurers reduce the stress of the insured by offering them financial support.

Unnamed passenger cover- Unnamed passenger cover means that your family members, friends traveling with you at the time of an accident. The compensation for the passengers is the same as is yours under the personal accident cover i.e. RS50000, RS100000, RS200000 per person as per seating capacity.

Owner driver cover-The owner-driver cover also known as personal accident cover is only for the owner-driver. It provides a security to the registered owner of the vehicle in case of disabilities and death.

Paid driver cover- Amt of Rs 50 has to be paid as an add-on for buying paid driver cover. In this cover, the insurer pays compensation to the salaried driver of the vehicle in case of injury, death. The compensation depends upon the age, monthly income of the driver. It is paid considering the Workmen’s Compensation Act, 1923.

How to purchase third party car insurance from iffco tokio –

 Step 1 – Visit www.quickinsure.co.in from your browser.

 Step 2- Select the private car option on the home page of www.quickinsure.co.in and enter your vehicle registration number according to your Registration Certificate (RC).

 Step 3- Select the quote of IFFCO TOKIO from the multiple insurance companies quotes that will appear on the next page after you input the details.

  Step 4- Fill out the proposal form once you select the quotation and enter your correct details.

 Step 5 – Click on Pay Now once you cross-check your details. You will receive the policy on your email ID once the payment is done. In case of any query raise it to service@quickinsure.co.in

Exclusions in Iffco Tokio Third party Car Insurance

1) Damages caused to yourself or your vehicle during an accident.

2) Damages that cost more than RS.750000 are also not covered in this agreement. Costs exceeding this amount are to be borne by the policyholder.

3) Third-party insurance also does not provide any compensation if there is a drink and drive case.

4) The company does not compensate if the car is used for commercial purposes.

5) The company does not pay any compensation if there is theft of the vehicle.

IffcoTokio Third Party Car Insurance Premium Slabs

Description of vehicle

Proposed Rates (FY 2021-22) Rs.

Private cars with engine capacity

 

Not exceeding 1000 cc

2,072

Exceeding 1000 cc but not exceeding 1500 cc

3,221

Exceeding 1500 cc

7,890

FAQs

1)How can I buy  third-party car insurance in Iffco Tokio?

You can buy Iffco tokio third party car insurance through quickinsure insurance brokers online following the below mentioned steps:-Visit www.quickinsure.co.in and select the private car option on our website. Enter your vehicle number and get the quote of IFFCO TOKIO and select the third-party option . You can pay the amount directly to the company and you will receive the pdf of your policy on your email address within minutes. If any issue occurs, you can email service@quickinsure.co.in.

2) What is an easy mode for buying third-party car insurance in IFFCO TOKIO?

The online method is the most common use mode of buying third-party car insurance.

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