IFFCO Tokio incurred claims ratio for the year 2014-15 as published by IRDA is 78.46 %. This ratio is defined as the ratio of money spent on claim settlement to money earned through premium by the insurance provider. Incurred claims ratio is published by IRDA every year. For the year 2013-14, it was 78.46 %. Higher the claims ratio of an insurance provider, better it is for the policy holder as probability of his claim getting settled increases.
IFFCO Tokio Two Wheeler Insurance details include online feature which enables you to buy the policy online when the Policy is In-Force. It is basically a Comprehensive Package Policy. Moreover, if the policy period is about to expire, you can renew your policy online in easy steps. IFFCO Tokio Two Wheeler Insurance Online is fast and convenient. With this, you can save your time as well as efforts. One other online feature that may be provided is to track IFFCO Tokio Two Wheeler Insurance Claims status online. It is highly beneficial as one can simply enter the claim number and find the status of the claim he has made. Also, you might get additional benefits from an insurance provider for buying and renewing two wheeler insurance policy online.
IFFCO Tokio Depreciation for fixing IDV i.e. Insured's Declared Value is usually based on the age of the vehicle, model, etc. It is nothing but the current market value which is the maximum sum assured as declared by the insurer at the time of commencement of policy for each insured vehicle. Rate of depreciation for other vehicle components as per IFFCO Tokio Two Wheeler Insurance Terms is mentioned in its policy wordings.
If the age of the two wheeler is less than 6 months then there is no depreciation for fixing IDV. For the vehicle age ranging between 6 months to 5 years, the depreciation is adjusted in the range of 5 % to 50 %. IDV is the claim amount given by an insurance provider to the policy holder if the vehicle is stolen or for the total damage of the vehicle.
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