Go Back   Team-BHP > BHP India > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 22nd September 2009, 06:25   #1
BHPian
 
nvldvr's Avatar
 
Join Date: Apr 2009
Location: New Delhi
Posts: 399
Thanked: 248 Times
Default How good is Iffko Tokio?

I am looking for a new insurance policy. The lowest quote that I have got so far is from Iffko Tokio. Not very sure about the company though. Anybody in here with any experience with the company? Want to be very sure since I am looking to buy a scorpio, chances of scorpios being stolen being rather high.

Last edited by Rehaan : 23rd September 2009 at 15:05. Reason: Formatting tags removed.
nvldvr is online now   Reply With Quote
Old 22nd September 2009, 10:29   #2
Senior - BHPian
 
comfortablynumb's Avatar
 
Join Date: Jul 2007
Location: Pune
Posts: 1,296
Thanked: 897 Times
Default

I had insured my Palio with Iffco Tokio last year and didn't face any problems with claims. Lodged one claim for approximately Rs.6000/- and it was cleared without any hassles. The only area of improvement for them is the time the surveyor takes to come, after you've lodged a claim. For me, that guy came a full 28 hours after I called their toll free number.

I haven't renewed with them this year as they were reaallly slow in sending me the renewal quote (inspite of me sending them reminders, instead of the other way round), and in that time Bajaj Allianz gave me a better quote too.

From my conversation with their sales agent, it seems they are more into selling to corporates rather than individuals. That's why a little bit of lethargy creeps in when a lone customer like you & me is concerned.

Hope this helps.

Cheers,
Vikram

Last edited by comfortablynumb : 22nd September 2009 at 10:31.
comfortablynumb is online now   Reply With Quote
Old 22nd September 2009, 10:39   #3
Distinguished - BHPian
 
SS-Traveller's Avatar
 
Join Date: Jan 2009
Location: New Delhi
Posts: 6,628
Thanked: 10,859 Times
Default

Just heard an Iffco-Tokio horror story: Friend's car robbed at gunpoint from his driver near Delhi airport late at night, six months ago. Driver dumped in Dwarka, car not found. Police complaint registered. Iffco-Tokio is refusing to pay up, stating that the car was voluntarily handed over with keys (obviously, one set of keys is missing, when robbers took the car), and therefore not a case of theft/robbery (despite police report). The co. was rude enough to tell my friend to do whatever he wants to, but the claim is declined. Friend has filed case with insurance ombudsman, verdict awaited.
SS-Traveller is offline   Reply With Quote
Old 22nd September 2009, 11:04   #4
BHPian
 
prabhusati's Avatar
 
Join Date: Apr 2008
Location: Bangalore
Posts: 248
Thanked: 12 Times
Default

There is also a case of refusal for cashless claim settlement in this forum beyond 2 claims in a year. This is obviously (in my opinion) to reduce the burden on themselves and refuse to pay when you submit papers. By this time you have already paid and taken the vehicle after repairs.
prabhusati is offline   Reply With Quote
Old 22nd September 2009, 11:36   #5
BHPian
 
RP_812's Avatar
 
Join Date: Jul 2009
Location: Bangalore
Posts: 128
Thanked: Once
Default

I also had issues with IFFCO TOKIO. I made a claim with them only once. That too when my car was only 3-4 months old. The surveyor told me they will give me the entire amount , but ended up paying about 2000 to the service station.
The next year when the time of renewal they asked me to pay Rs27k- and the first year I had paid only 26k , when asked they said it is because I made a claim. The claim i made was for a measly 5k out of which they paid me only 3k.
I have now shifted to Bajaj , not yet made a claim with them. What I hear from this forum and the outside world is that Bajaj is better than most.
But then again once I claim I will know.
RP_812 is offline   Reply With Quote
Old 22nd September 2009, 11:41   #6
Senior - BHPian
 
suman's Avatar
 
Join Date: Sep 2005
Location: Gurgaon
Posts: 4,589
Thanked: 257 Times
Default

Wow, you guys are scaring me. One of my cars is with Iffco-Tokio - they were the cheapest & I'd checked with my workshop, they had cashless with them. Good to see that at least someone has had a pleasant experience.....

Last edited by suman : 22nd September 2009 at 11:42.
suman is offline   Reply With Quote
Old 22nd September 2009, 11:59   #7
Senior - BHPian
 
Join Date: Dec 2007
Location: Dubai
Posts: 3,860
Thanked: 128 Times
Default

^^ Suman,

Check with Bajaj, they will definitely match what Iffko give or even better it. Would suggest a movement to BA on the next renewal. My 2 paise.

(and yes, BA has cashless tie-up with TASS)
HappyWheels is offline   Reply With Quote
Old 22nd September 2009, 12:16   #8
Senior - BHPian
 
rjvora_2000's Avatar
 
Join Date: Mar 2008
Location: Mumbai/Mulund
Posts: 1,656
Thanked: 41 Times
Default

No dough that Bajaj is a good insurance company but this much bad about Iffko, I am also seeing for the first time.
rjvora_2000 is offline   Reply With Quote
Old 22nd September 2009, 12:18   #9
Senior - BHPian
 
suman's Avatar
 
Join Date: Sep 2005
Location: Gurgaon
Posts: 4,589
Thanked: 257 Times
Default

Quote:
Originally Posted by HappyWheels View Post
^^ Suman,

Check with Bajaj, they will definitely match what Iffko give or even better it. Would suggest a movement to BA on the next renewal. My 2 paise.

(and yes, BA has cashless tie-up with TASS)
My Fiesta was on BA - they have consistently been the most expensive amongst all

Its the Fiesta that I've moved to Iffco......the Safari is with Reliance
suman is offline   Reply With Quote
Old 22nd September 2009, 12:25   #10
BHPian
 
nvldvr's Avatar
 
Join Date: Apr 2009
Location: New Delhi
Posts: 399
Thanked: 248 Times
Default

Thanx guys.Lots of issues with Iffko. will speak to bajaj guys and see.
nvldvr is online now   Reply With Quote
Old 22nd September 2009, 12:59   #11
Distinguished - BHPian
 
phamilyman's Avatar
 
Join Date: Jul 2007
Location: Gurgaon
Posts: 5,601
Thanked: 3,452 Times
Default

They are the most useless. They give so much grief in renewing it that I shudder to think of claims. I shifted to BA this year for my bike, and am happy.
phamilyman is offline   Reply With Quote
Old 22nd September 2009, 13:37   #12
aZa
Senior - BHPian
 
aZa's Avatar
 
Join Date: Mar 2006
Location: Noida / Delhi
Posts: 1,595
Thanked: 17 Times
Default

WHat about reliance insurance ? I have got the lowest quote from Reliance insurance and Iffco tokio!

Reliance has cashless tie ups with hyundai!
aZa is offline   Reply With Quote
Old 22nd September 2009, 16:49   #13
Senior - BHPian
 
Join Date: Dec 2007
Location: Dubai
Posts: 3,860
Thanked: 128 Times
Default

Quote:
Originally Posted by suman View Post
My Fiesta was on BA - they have consistently been the most expensive amongst all

Its the Fiesta that I've moved to Iffco......the Safari is with Reliance
OMG! That is a surprise.

During my purchase period, I recollect having got close to 7 other insurance covers (for new vehicle purchases) from BA and their very first quote was at least 1k lesser than the nearest rival.

Guess they steal from the rich and give it to the poor!

And for Safari, I reckon TATA has a tie-up with Reliance. All TATA showrooms offer Reliance insurance. I took BA just because of their rate and my experience with them so far.
HappyWheels is offline   Reply With Quote
Old 23rd September 2009, 18:22   #14
Senior - BHPian
 
rjvora_2000's Avatar
 
Join Date: Mar 2008
Location: Mumbai/Mulund
Posts: 1,656
Thanked: 41 Times
Default

Quote:
Originally Posted by aZa View Post
WHat about reliance insurance ? I have got the lowest quote from Reliance insurance and Iffco tokio!

Reliance has cashless tie ups with hyundai!
Sirji Reliance and Icici are two worst companies as far as paying claim's is concern. I know lot of people who has bad experience with them. At the same time those are the two companies whose quote will be the lowest.
rjvora_2000 is offline   Reply With Quote
Old 23rd September 2009, 18:40   #15
Senior - BHPian
 
Raccoon's Avatar
 
Join Date: Jan 2008
Location: Poona
Posts: 1,832
Thanked: 105 Times
Default

^^^ Lowest nothing! Both of them quoted a slightly higher amount than others, at least for my bike. Both of them I'm not keen about, as you agree yourself... but if the quote was lower, I might have been tempted.
Raccoon is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
IFFCO-Tokio & ICICI Lombard offer cashless coverage to accident victims on 3 highways! ghodlur Indian Car Loans & Insurance 1 8th October 2015 15:57
BMW Secure - How about Iffco Tokio? ackyash Luxury, Imports & Niche 16 12th November 2014 15:19
Iffco-Tokio : Poor experience in processing claims sidindica Indian Car Loans & Insurance 15 9th July 2010 13:20
Soundstream.. Good or not Good? gamerno1 In-Car Entertainment 5 2nd December 2006 16:08
DRIVER TALENT:- How do u judge a good track driver from a good street driver memo45_m Indian Motorsport 27 18th May 2006 07:42


All times are GMT +5.5. The time now is 19:42.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks