BMW is among the most popular luxury brands in the world. Blending strength and efficiency with a sporty appearance, BMW is elegant, sleek, and has pretty much everything you would look for in a car. Often attributed as being "The Ultimate Driving Machine," BMW promises you a pleasure of driving that’s incomparable.
Your new BMW is bound to turn heads and draw crowds, but there's one important aspect that you need to cover before you bask in the glory of your car. You need to get your car insured as it is mandatory according to the Indian laws. But you don't have to stress over it, we at IFFCO-Tokio General Insurance Co. Ltd. we are there to help you.
Not only are our plans full-proof & affordable but we also offer different levels of coverage for you to choose from! You could opt for third party protection, comprehensive insurance or bundled plans. We also allow you to customize the protection of your plan & choose from numerous optional add-on covers. With IFFCO-Tokio, you get BMW car insurance that is designed around your exact needs!
Even the most skilled and cautious driver cannot predict road mishaps! And such an accident may damage your valuable car and the repair costs may be steep. Not to forget that you and your fellow passengers could also get injured.
Well, this is where a BMW car insurance policy from IFFCO-Tokio can help! Our plans will help cover the repair costs and get your BMW back to mint condition. Our plans will also protect you in case your car causes damages or injuries to others on the road! In such situations, we will cover your legal liability to provide compensation to third parties. We also offer round the clock roadside assistance as an optional add-ons, this will ensure you get speedy assistance in case of breakdowns or mechanical failure.
Your BMW could also get damaged as a result of natural disasters such as cyclones or earthquakes or man-made accidents, like theft, arson and vandalism. But not to worry! In such circumstances, our BMW car insurance plans will cushion you from the financial jolt of such unfortunate events.
You've got two options. The first option would be to visit a branch of IFFCO-Tokio General Insurance Co. Ltd. closest to where you live and get the policy. The second option would be to buy the policy online through our website. In case you choose the latter, all you have to do is follow the simple steps mentioned below:
Once you reach our site, you will have to provide us with some information about yourself & your car. Based on that information, our system will put together instant quotations for your car.
We give you three different quotations to choose from. You can choose the one that that is most appropriate for your need. You can also fine-tune the coverage and include optional add-ons.
The last step is purchasing your plan. For this, you will have to enter one or two more details about your car and then proceed to make the payment. After this, we will send the policy documents to your inbox immediately.
We are more than happy to sit down with you face-to-face and help you buy the right car insurance plan for your BMW. However, we also understand that busy schedules and other personal commitments can make it difficult for you to visit the branch. That’s why we offer you a smart alternative – buying BMW car insurance online! Here are some benefits you can enjoy if you buy your plan through our website!
You can buy your policy in three steps. It's that simple.
You can buy the policy whenever you want and from wherever you are.
There is no physical paperwork involved - just easy web-based procedures!
Our insurance plans love your BMW car just as much as you do.
Damages and losses that may arise out of collisions & accidents.
Coverage against losses incurred when your car is stolen.
Damages and losses caused to due to an accidental fire.
Damages and losses due to acts of nature such as floods, cyclones, etc.
Get compensation up to Rs. 15 lakh in case accident leads to death or disability of the owner.
Pays for property damages and injuries caused by your car.
Here are some recommended add-ons that can widen the coverage of your BMW car insurance policy..
Your car can depreciate by up to 40% in 4 years. Therefore, after 4 years, you will only get 60% of the car’s value or total repair costs in case of a claim. To avoid this, you can opt for the zero depreciation add-on with your BMW insurance policy. This will safeguard your car from depreciation and ensure you get complete compensation in case of a claim.
This is another important add-on you can opt for with your BMW car insurance policy. This add-on protects the important parts of your engine such as the crankshaft, piston, pins, cylinder, gearbox, and so on from damage. This add-on is especially useful if you live in a low-lying area where flooding could damage your car’s engine.
If you drive safely and do not make a claim against your policy, you are entitled to a discount when you renew your plan. This discount is known as No Claim Bonus or NCB. If you continue driving safely and maintain your claim-free record, you could enjoy an NCB discount of up to 50%. However, make a single claim and your NCB discount is lost. If you wish to retain your NCB despite making a claim, you can opt for the No Claim Bonus protector add-in with your BMW car insurance policy. This will ensure the NCB you’ve accumulated for years, is not lost when you make a claim.
With the return to invoice add-on, in case of total loss or theft of your vehicle, the insurance provider will pay the on-road price of your car as compensation. Whereas, with a normal plan, you would only get the IDV (on-road price minus depreciation) of your car and this decreases every year!
The BMW is an extremely reliable car. However, even the best cars in the world can experience a mechanical breakdown. This is why it makes sense to include the Roadside Assistance add-on with your BMW insurance. It will ensure that, if you are ever stranded due to mechanical failure, you can get help with just a single call.
These are some of the standard exclusions of car insurance in India.
In the case of a Third-Party or Liability Only Car Policy, damages to own vehicle won’t be covered.
You were driving drunk or without a valid driving licence.
You hold a learner’s licence and were driving without a valid driving licence-holder in the front passenger seat.
Any damage which is not a direct result of the accident (e.g. after an accident, if the damaged car is driven incorrectly and the engine gets damaged, it will not be covered)
Any contributory negligence(e.g. damage due to driving a car in a flood, which is not recommended as per the manufacturer’s driving manual, will not be covered)
If you want basic and affordable coverage for your BMW, you can opt for third party insurance. These plans do 3 things for you. Firstly, they serve the basic legal requirement to drive your car on Indian roads. Secondly, they ensure you do not have to pay for third party damages and injuries in an accident you are involved in. And lastly, they will provide a payout of up to 15 lakhs in case an accident leads to your total permanent disability or death.
However, third party insurance does not cover damages or total loss of your own vehicle. So while these plans might be extremely affordable, they do not offer any protection for your BMW.
If you want to give your car complete protection, on and off the road, you should purchase this type of BMW car insurance. This is because, comprehensive plans are made of two components, third party cover and own damage cover. This means that they provide everything that third party insurance does.
But, along with this, comprehensive plans also protect your car. These plans offer coverage against damages and total loss of your vehicle due to accidents, acts of nature, theft, and other manmade calamities. Comprehensive car insurance also allows you to choose from different add-ons that widen the coverage of your plan and provide you with increase protection from perils of the road.
You should know these important car insurance terms before you buy a BMW car insurance policy.
Premium is the cost of your BMW car insurance policy. It is the amount you have to pay to enjoy car insurance coverage. It is usually payable annually, except for the case of long-term plans, where it is usually paid once every 3 years.
The financial protection provided by your insurance policy is known as coverage. The coverage of a car insurance policy will vary based on the insurance provider and the type of plan you purchase.
Add-ons are extra amounts of financial protection that you can purchase to widen the coverage of your BMW car insurance policy.
IDV stands for Insurer Declared Value. It is the listing price of your vehicle minus depreciation. In case of a total loss of your vehicle or theft, IDV is the maximum compensation your insurance provider will offer.
No claim bonus, or NCB, is like a reward for not making a claim. It is a discount you enjoy when you renew your plan after a claim-free year. This discount will keep increasing for every claim-free year. You can avail a maximum discount of 50% year after year for not making any claims against your policy.
Simple, just use the car insurance premium calculator. This online tool allows you to check the premium of your BMW car insurance policy using some very basic information. To calculate the premium, you must provide the following details:
Until recently, innovation and insurance were rarely used in the same sentence. However, we have made it our mission to change this. At IFFCO-Tokio, we are bringing in technology to provide you with car insurance that’s quicker and more convenient.
One of the ways we’re doing this is through our QCS app, which puts a host of our services at your fingertips! You can submit claims using your nothing but your phone and get up to Rs. 50,000 in compensation in just 4 hours.
With close to 20 years of experience in the insurance industry, we have settled more than 8 lakhs claims (in FY19) with a settlement ratio of 92.65%. This is just one of the reasons why 1,00,000+ individuals entrust us with their car insurance needs.
We provide cashless services in more than 4300 garages, which are evenly spread across the country.
We offer a QCS facility under which motor insurance claims get settled seamlessly within minutes.
For 19 years, we have been servicing our customers with a wide range of insurance policies.
We settled a total of 8.61 lakh claims in FY2019 and have a claim settlement ratio of 92.65%
IFFCO-Tokio won the 2019 IDC Digital Transformer Award for India for AI-based claim assessment of damaged vehicles.
Our policies can be brought from more than 20,000 agents and branches having a wide presence throughout the country.
Through our QCS App:
If you wish to make a claim for compensation, you can do so using our QCS (Quick Claim Settlement) App. All you have to do is upload the photos, documents, videos, etc., of the damages you want to make a claim for. We will review the documents you upload and approve your claim (we have a claim settlement ratio of 92%). After this, the estimated amount for repairs will be sent to your bank account in just 30 minutes. Note that for claims made through the app the maximum claim amount will be Rs. 50,000.
You can register a claim for compensation online or by reaching us on 1800-103-5499 or 0124- 4285499.
To make a claim online, you will have to log in with your registered Email ID and Password. When you log in, just find the ‘make a claim’ option and follow the steps mentioned. If you register a claim over a call, our customer care executives will guide you with the further procedure.
The entire process of making a claim is super easy with Iffco Tokio. Amazing service!
Rated by: Mahendra Rastogi
Got an amazing car insurance plan and that too at a very fair rate. Thank You Iffco Tokio
Rated by: Vaishali Kadam
I bought a Mahindra Thar last week, and I got a great deal on my new car insurance. Thank you Iffco Tokio!
Rated by: Rohit Mehta
The add-ons in a car insurance are really beneficial and the premium is also very reasonable.
Rated by: Deepak Parikh
I got complete guidance when buying the car insurance from Iffco Tokio, they really provide a great service.
Rated by: Anjan Bhawalkar