How good is Iffko Tokio?

nvldvr · 22nd September 2009, 06:25

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.

comfortablynumb · 22nd September 2009, 10:29

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

SS-Traveller · 22nd September 2009, 10:39

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.

prabhusati · 22nd September 2009, 11:04

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.

RP_812 · 22nd September 2009, 11:36

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.

suman · 22nd September 2009, 11:41

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.....

HappyWheels · 22nd September 2009, 11:59

^^ 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)

rjvora_2000 · 22nd September 2009, 12:16

No dough that Bajaj is a good insurance company but this much bad about Iffko, I am also seeing for the first time.

suman · 22nd September 2009, 12:18

Quote:

Originally Posted by HappyWheels

^^ 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

nvldvr · 22nd September 2009, 12:25

Thanx guys.Lots of issues with Iffko. will speak to bajaj guys and see.

phamilyman · 22nd September 2009, 12:59

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.

aZa · 22nd September 2009, 13:37

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

Reliance has cashless tie ups with hyundai!

HappyWheels · 22nd September 2009, 16:49

Quote:

Originally Posted by suman

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.

rjvora_2000 · 23rd September 2009, 18:22

Quote:

Originally Posted by aZa

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.

Raccoon · 23rd September 2009, 18:40

^^^ 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.

22nd September 2009, 06:25	#1
nvldvr BHPian Join Date: Apr 2009 Location: New Delhi Posts: 599 Thanked: 767 Times	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.
	() Thanks

22nd September 2009, 10:29	#2
comfortablynumb Senior - BHPian Join Date: Jul 2007 Location: Pune Posts: 2,042 Thanked: 3,451 Times	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.
	() Thanks

22nd September 2009, 10:39	#3
SS-Traveller Distinguished - BHPian Join Date: Jan 2009 Location: New Delhi Posts: 8,164 Thanked: 27,143 Times View My Garage	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.
	(2) Thanks

22nd September 2009, 11:04	#4
prabhusati BHPian Join Date: Apr 2008 Location: Bangalore Posts: 253 Thanked: 16 Times	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.
	() Thanks

22nd September 2009, 11:36	#5
RP_812 BHPian Join Date: Jul 2009 Location: Bangalore Posts: 128 Thanked: 2 Times	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.
	() Thanks

22nd September 2009, 11:41	#6
suman Senior - BHPian Join Date: Sep 2005 Location: Kolkata Posts: 4,589 Thanked: 279 Times View My Garage	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.
	() Thanks

22nd September 2009, 11:59	#7
HappyWheels Senior - BHPian Join Date: Dec 2007 Location: Bangalore Posts: 4,106 Thanked: 537 Times	^^ 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)
	() Thanks

22nd September 2009, 12:16	#8
rjvora_2000 Senior - BHPian Join Date: Mar 2008 Location: Mumbai/Mulund Posts: 1,658 Thanked: 56 Times	No dough that Bajaj is a good insurance company but this much bad about Iffko, I am also seeing for the first time.
	() Thanks

22nd September 2009, 12:25	#10
nvldvr BHPian Join Date: Apr 2009 Location: New Delhi Posts: 599 Thanked: 767 Times	Thanx guys.Lots of issues with Iffko. will speak to bajaj guys and see.
	() Thanks

22nd September 2009, 12:59	#11
phamilyman Senior - BHPian Join Date: Jul 2007 Location: Gurgaon Posts: 5,968 Thanked: 4,642 Times	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.
	() Thanks

22nd September 2009, 13:37	#12
aZa Senior - BHPian Join Date: Mar 2006 Location: Noida / Delhi Posts: 1,595 Thanked: 21 Times View My Garage	WHat about reliance insurance ? I have got the lowest quote from Reliance insurance and Iffco tokio! Reliance has cashless tie ups with hyundai!
	() Thanks

23rd September 2009, 18:40	#15
Raccoon Senior - BHPian Join Date: Jan 2008 Location: Poona Posts: 1,851 Thanked: 116 Times	^^^ 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.
	() Thanks