Iffco Tokio Car Insurance Claim Procedure

What Is Iffco Tokio Car Insurance?

Iffco Tokio Car Insurance is an insurance policy offered by Iffco Tokio General Insurance Company Limited, a joint venture between the Indian Farmers Fertilizer Cooperative (IFFCO) and its Japanese partners, Tokio Marine. This insurance policy provides financial protection against any type of damage to the insured car, including theft, fire, and accident. It also covers damages to third-party property and provides personal accident cover. It is a comprehensive insurance policy that also covers medical expenses and liability arising out of an accident. The policy is available for both new and used cars.

What Is the Claim Procedure?

The claim procedure for Iffco Tokio Car Insurance is simple and hassle-free. In case of an accident, theft, or any other damage, the insured must inform the insurer of the incident and the details of the policy. The insured must also provide the insurer with the necessary documents such as the claim form, the policy document, and the repair bills. The insurer will then assess the damage and approve the claim amount. Once the claim has been approved, the insured can get the repairs done and submit the bills for reimbursement. The insurer will then settle the claim amount.

What Documents Are Required for Claim Settlement?

In order to settle the claim, the insured needs to submit certain documents to the insurer. These documents include the claim form, the policy document, and the repair bills. The claim form needs to be duly filled in and signed by the insured. The policy document should also be submitted. In case of theft or total loss, the insured needs to submit the FIR copy and a copy of the RC book. In case of an accident, the insured needs to submit the accident report obtained from the police station.

What Are the Other Necessary Requirements for Claim Settlement?

In addition to the documents, the insured needs to provide certain other information for the claim to be settled. These include the vehicle registration number, chassis number, engine number, make and model of the vehicle, and the date and time of the accident. The insured must also provide the insurer with the details of the driver at the time of the accident. The insurer may also require the insured to submit other documents such as the repair estimates, photographs of the damaged vehicle, and any other relevant documents.

How Is the Claim Amount Determined?

The claim amount is determined based on the type of damage, the value of the car, and the extent of the damage. The insurer may also consider the depreciation value of the car and the cost of the car parts when determining the claim amount. The claim amount is usually determined using the market value of the car. In certain cases, the insurer may also consider the cost of the repairs.

Conclusion

Iffco Tokio Car Insurance provides comprehensive coverage against any damage to the car and also covers third-party liabilities. The claim procedure is simple and hassle-free. The insured needs to submit the required documents and other information for the claim to be settled. The claim amount is determined based on the type of damage, the value of the car, and the extent of the damage.