Inclusions in IFFCO Tokio Two Wheeler Insurance may be of two types natural calamities and man-made calamities for which an insurance provider offers a coverage. This cover is available only for a Comprehensive Policy. You can file a claim for a damage caused due to any of these calamities. The natural and man-made calamities that are covered are:
Depreciation is considered by all two wheeler insurance plans on various accessories of a vehicle. It depends on the material of the accessory that is damages. As mentioned in IFFCO Tokio Two Wheeler Insurance terms, for all the parts made of rubber, nylon or plastic, 50% depreciation is considered and so is for tyres, tubes and batteries of a vehicle. Fiber glass components are depreciated by 30% but glass components are not depreciated at all. Some insurance plans also consider depreciation if the vehicle has wooden parts which is mentioned in the brochure/ policy wordings.
Deductibles by IFFCO Tokio may be voluntary or compulsory. Voluntary deductible which also called as a excess deductibles is the minimum amount chosen by a policy holder to pay as a part of the claim on his own. Opting a higher value of voluntary deductible minimizes the premiums through discounts. Voluntary deductible is not available in this policy. On the other hand, compulsory deductible is the compulsory amount which has to be paid by the policy holder at the time of claim. This amount is fixed by the insurer and has no effect on the premium. Under this policy, compulsory deductible is not available.
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