How To Withdraw IFFCO TOKIO Car Insurance Policy Online?

IFFCO TOKIO Car insurance policy online withdraw process is simple. Below are the steps to withdraw car insurance policy. Here, you will have to log in to their website and follow the process to cancel your policy.

• Step 1:- Call or email you’re IFFCO TOKIO insurance and inform them about your decision to cancel the car insurance policy. They will guide you regarding the specifics of the cancellation/withdraw process.
• Step 2:- Based on your reason for cancellation, they will ask for some documents. For example, if you mention the reason for policy cancellation as ‘selling your car’, they will ask for a sale action. If you mention the reason as ‘switching insurer’, they will ask for the new policy.
• Step 3:- Once you send the required documents, they will verify them and if your cancellation request is approved, you will receive the policy with ‘cancelled’ written on it. Also, if applicable, you will receive the No Claim Bonus certificate as well.

Refund Process: You will be eligible for a refund on policy cancellation based on when you cancel the policy and its terms and conditions. Check out the following two scenarios.

• Cancellation before the Start of The Policy: You will get an almost full refund of the payment, some processing fees might get deducted.
• Cancellation after the Start of The Policy: Here, the refund will be offered on a pro-rata basis. This is because you have been covered by the car insurance policy for a few days.
• Refund Timeline: The exact turnaround time of the refund will depend upon your payment process. However, it should not take more than 14 working days for the refund to reach you.