Value Auto Coverage

Value Auto Coverage

Widen the scope of your basic car insurance policy with add-on covers

Benefits of Buying Value Auto Coverage
Waiver of the amount deducted towards depreciation on parts.
Cover for Insured's personal effects and belongings.
Coverage for your daily travel cost.
Reimbursement of medical expenses incurred by vehicle occupants.
Protection of NCB benefit.
Increased third party property damage liability coverage.
Cost of transportation and redelivery of the vehicle
Cost of hotel accommodation for vehicle passengers.

Value Auto Coverage Insurance includes 12 benefits that can be easily applied to an existing motor package policy. Sometimes a standard motor insurance plan can fall short of providing protection that you may need. This is where Value Auto Coverage insurance helps a lot. It is an additional benefit that comes at an additional cost, but it protects your vehicle from a range of situations.

Depreciation Waiver - This waiver negates the effect of depreciation on vehicles. So, the amount deducted towards depreciation on parts of the vehicle is waived for partial loss claims under the Motor Package Policy.

New Vehicle Replacement - In case of total loss claims, the insured gets the difference amount between the current ex-showroom price and IDV of the vehicle as detailed in the policy.

Daily Rental/Travel Cost (Applicable for Private Cars and Two-Wheelers) - Insured will be paid daily rental or travel cost, in case of both partial and total losses, for the time required to effect vehicle claim settlement, subject to the maximum periods specified for such reimbursement.

Personal Effect and Belongings - It covers the personal belongings of the insured person who are in/on the insured vehicle which gets damaged or stolen.

Medical Expenses - Compensation for medical expenses of the vehicle occupants (including the driver, but excluding paid passengers) in case of an accidental injury sustained as a result of an insured peril or any injury sustained while resisting an act of theft or burglary on the vehicle.

Personal Accident Coverage - A more extensive Personal Accident cover, more extensive than that available under the basic Motor Policy for all occupants (including the driver, but excluding paid passengers). It covers all permanent and temporary disabilities, as well as other additional benefits.

No Claim Bonus (NCB) Protection - Protect your No Claim Bonus with this benefit, and get better discounts on policy renewal. Under this benefit, the insured's renewal NCB eligibility is unaffected by all standalone glass claims. NCB is earned, retained or reduced (as mentioned in the policy wordings) for all other claims, as per the existing NCB entitlement and the number of claims under the expiring policy.

Increased Property Damage Liability Benefit -Increased cover for third party property damage beyond 750,000 limit, as available under the basic Motor Policy.

Wreckage/Debris Removal Cost This covers the cost incurred for the removal of debris or wreckage, following damage to the vehicle as a consequence of an insured peril.

Towing and/or Removal/Storage of the Insured Vehicle - This benefit will cover the cost of towing, removal, and storage of the vehicle if it has suffered damages that cannot be repaired at the sight.

Accommodation and Travelling Expenses - In case the insured vehicle suffers damages due to a covered peril and requires repairing time beyond 12 hours, IFFCO-Tokio will pay for the cost of hotel accommodation for the vehicle passengers up to three nights (subject to limits).

Transport, Redelivery or Repatriation of Repaired Vehicle It also reimburses the cost of transportation and redelivery of the vehicle (subject to distance limits), in case of repairs take more than 72 hours, and the insured or driver is not present there.

Benefits of Buying Value Auto Coverage

Waiver of the amount deducted towards depreciation on parts.

Cover for Insureds personal effects and belongings.


Coverage for your daily travel cost.

Reimbursement of medical expenses incurred by vehicle occupants.

Protection of NCB benefit.

Increased third party property damage liability coverage.

Cost of transportation and redelivery of the vehicle

Cost of hotel accommodation for vehicle passengers.