Kotak Mahindra Standalone Own Damage Car Insurance

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Kotak Car Insurance Highlights

Kotak (Car Insurance)
Kotak General Insurance, a subsidiary of Kotak Mahindra Bank Ltd., offers a wide range of non-life insurance products such as vehicle insurance, health insurance, etc, to tap into the emerging protection needs. Its strong management practices and a team of experienced professionals have allowed it to insure 45 lakh+ customers till September 2021.
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One of Kotak Mahindra General Insurance's three basic types of car insurance is standalone own-damage coverage. It provides owner-drivers with an extra layer of protection from the hazards on the road. The Kotak Mahindra standalone car insurance reimburses you your own-damage costs in the event of theft, vandalism, fires, explosions, road accidents, and natural and man-made disasters. Unlike third-party insurance, this standalone policy from Kotak Mahindra is optional. 

How does Kotak Mahindra Standalone Insurance Work?

Kotak car insurance is an excellent alternative for getting car insurance. Kotak Mahindra standalone car insurance protects owners against their own damage and accidents. It safeguards your vehicle against natural and man-made disasters. It also includes add-ons like roadside assistance and engine protection, giving you enhanced coverage.

Additional discounts on premium are available through no claim bonus (NCB). You can also get add-ons like depreciation cover, roadside assistance, key replacement, engine protect, tire cover, consumables cover, NCB protect, Loss of personal belongings,  return to invoice, and daily car allowance to your Kotak Mahindra standalone car insurance. 

Kotak Mahindra Standalone Car Insurance vs Third Party Car Insurance Vs Comprehensive Car Insurance

ParametersKotak Mahindra Comprehensive Car InsuranceKotak Mahindra Third-Party Car InsuranceKotak Mahindra Standalone Car Insurance
CoverageUnder a single price, Kotak Mahindra comprehensive insurance covers both third-party liabilities and own-damage costs. Personal accident insurance is also available as an option.Third-party liabilities, such as bodily injury, death, and property damage, are covered by Kotak Mahindra third-party insurance.Kotak Mahindra standalone car insurance covers the car's own-damage costs resulting due to events, including road accidents, theft, etc. In addition, insurance companies reward claim-free years with NCB.
Add-OnsKotak Mahindra's comprehensive car insurance offers many add-on covers.Add-on coverage is not available with Kotak Mahindra third-party car insurance.Several add-on covers are available with Kotak Mahindra standalone car insurance.
CostAs Kotak Mahindra comprehensive car insurance provides comprehensive coverage for both own-damage and third-party liabilities, the premium amount remains the highest here.The cheapest policy offered by Kotak Mahindra is third-party automobile insurance, which provides basic coverage.Kotak Mahindra standalone car insurance is more expensive than third-party coverage, but it provides more coverage.

What All Is Covered Under Kotak Mahindra Standalone Car Insurance Plan?

Kotak Mahindra standalone car insurance covers the below-mentioned parameters under the policy.

  • Natural calamities such as earthquakes, floods, hurricanes, typhoons, and landslides.
  • Theft, housebreaking, or burglary.
  • Fire, lightning, and self-ignition causing damage to the car.
  • The car insurance coverage covers any damage caused by malicious acts such as riots, strikes, and terrorist activity.
  • The car owner-accidental driver's death is covered

What All is not Included Under Kotak Mahindra Standalone Car Insurance?

Kotak Mahindra standalone car insurance does not cover the below-mentioned parameters.

  • The car's normal wear and tear and aging.
  • Consequential losses/depreciation of the car.
  • The car being used in violation of your policy.
  • Mechanical and electrical failure.
  • Contractual obligations.
  • If the driver was intoxicated at the time of the accident.
  • In case the driver does not have an authentic driver's license.
  • Damage due to war-related activities.

Kotak Mahindra Standalone Car Insurance Benefits

The advantages of Kotak Mahindra standalone car insurance are as follows:

  • Add-on coverage can be purchased to supplement normal car insurance.
  • The own-damage coverage protects you in a variety of situations and ensures financial security during difficult times.
  • As a reward for good driving practices, every claim-free year is rewarded with a no claim bonus. The award is cumulative, meaning that the amount increases with each subsequent year of claim-free service, reaching a maximum of 50% for the straight fifth year.

Kotak Mahindra Standalone Insurance Review

Kotak Mahindra offers one of India's greatest car insurance policies. The standalone insurance plan covers both your own vehicle and third-party claims, including vehicle/accessory damage and physical injury/death. Both renewal and claim settlement processes are swift and painless. The organization provides customer service 24 hours a day, seven days a week to address customer concerns and ensure complete customer satisfaction. All of these factors combine to make Kotak Mahindra car insurance policy a compelling offer for customers. 

How to Purchase a Bajaj Allianz Standalone Car Policy?

Online method: Bajaj Allianz Car insurance provides a quick and clear solution for all consumers to purchase Bajaj Allianz standalone car insurance online.

  • Go to the official website and give information about your car (model name, variation, location, purchase date, etc.).
  • Next, you may move to the next step, where several policieswill be displayed. Select a policy, add extra coverage, and obtain estimates for the policy.
  • Once you're happy with your coverage options, agree to the terms and conditions, and complete the insurance purchase.
  • All of your paperwork will be mailed to you, and a physical copy will be delivered to your home.

Offline method: The traditional method of obtaining and renewing motor vehicle insurance includes:

  • Go to a branch with all of your paperwork.
  • Submit a physical copy of the documents needed to verify the vehicle and the customer.
  • Visit the local branch and purchase a policy with enough coverage by paying by check, debit card, or demand draft.

What are the Benefits of Bajaj Allianz Standalone Car Insurance?

The key benefits linked with the Bajaj Allianz Standalone Car Insurance are:

  • Availability of cashless service in about more than 4500 garages.
  • Get insurance in no time.
  • Cashless hospitalization availability across 6000 plus hospitals.
  • Digital, Easy, and fast cashless claim facility
  • Up to 50% transfer of no-claim transfer bonus
  • 98% of claims settled ratio with happy and satisfied customers
  • On-the-spot settlement is available through the 'Caringly Yours' app.

Bajaj Allianz Standalone Policy Review

These car insurance reviews will offer you an idea of the features that have helped the policyholders secure their wallets in times of need.

  • The customers find the terms and conditions crystal clear and are happy to have opted for one for their vehicle.
  • Some say that the claiming procedure is smooth and prompt in service. As soon as a claim request is logged, there are people to contact you immediately and satisfy you.
  • The applicants have experienced the online mode of purchase and renewal of insurance as very user-friendly.
  • The quick response to the claims makes the consumers love Bajaj Allianz standalone car insurance program their first choice.

Kotak Mahindra Standalone Car Insurance FAQs

  • 1. Is comprehensive insurance the same as own damage insurance of Kotak Mahindra?

    No, they are not the same. Comprehensive insurance covers both own and third-party damage, whereas Kotak Mahindra standalone car insurance covers damage or loss to the car and the insured.

  • 2. What is the Kotak standalone own damage policy?

    You may simply safeguard your own car from damage or loss caused by theft, accident, or any other misfortune with the aid of Kotak Mahindra standalone car insurance protection. 

  • 3. Is it necessary to have Kotak Mahindra standalone own damage car insurance in India?

    No, the law does not require you to purchase Kotak Mahindra standalone car insurance. However, according to the Indian Motor Tariff Act, all cars operating on India's public roadways must have at least third-party liability insurance.

  • 4. Who can purchase Kotak Mahindra standalone own damage insurance?

    Kotak Mahindra standalone car insurance can be purchased by any policyholder who has a valid third-party car insurance policy.

  • 5. What is the difference between Kotak Mahindra’s third-party liability insurance and own damage insurance?

    Kotak Mahindra standalone car insurance protects policyholders against damage or loss to their own vehicles as a result of an accident, mishap, theft, or other occurrences. Third-party liability insurance, on the other hand, protects third-party property or people in the event of an accident or other catastrophe involving the covered vehicle.

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