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What are the Benefits of Buying a Long-term Kotak Bike Insurance Policy?

By Juhi Walia
20 July 2022, 11:54 AM

Kotak Mahindra General Insurance guards your bike against unforeseen incidents on the road. Whether for work, home, or leisure, you can have joyful and tension-free rides with its long-term policies.

Kotak Mahindra General Insurance provides a digital claim process and settles a large number of bike insurance claims. With around 1300 network garages, its bike insurance policyholders are assured of quality cashless repair services in case their vehicles are damaged.

Let’s look at the advantages of Kotak Mahindra’s long-term bike insurance policy.

Benefits of a Long-term Kotak Bike Insurance Policy

Kotak two-wheeler bike insurance comes with the following advantages:

  1. It can be availed online and in a hassle-free manner.
  2. It provides coverage against the legal obligations of any third party.
  3. The insured party can choose between third-party bike insurance and a comprehensive cover.
  4. You can get premium discounts at attractive rates.
  5. You can choose from a wide array of add-on covers.
  6. It offers instant two-wheeler insurance renewal.
  7. It offers round-the-clock claim assistance.

Types of Kotak Mahindra Long-term Bike Insurance

Kotak provides a long-term policy of 5 years. Here are its long-term policies:

Third-party Liability Insurance: Kotak third party bike insurance covers the insured against the third party's accidental death, injury or property damage with the insured two-wheeler. The third-party cover is enough for you if you possess an old vehicle.

Comprehensive Insurance: Kotak Comprehensive bike insurance is recommended for new vehicles. It provides coverage to the insured vehicle in case of any man-made or natural calamity and third-party claims. It works in the case of collisions too. You can integrate your policy with add-ons like NCB protector, zero depreciation, roadside assistance, etc.

What is Included in a Long-term Comprehensive Two-wheeler Insurance Policy of Kotak General Insurance?

                                  Inclusions                               Exclusions
TheftDepreciation, normal wear and tear, mechanical failure, or consequential loss
Fire explosion, self-ignition, or lightning damageDamage inflicted to tires and tubes only, unless the bike is damaged at the same time too. The insurer is obligated to pay only up to a certain percentage.
 Strikes and riots, terrorism, or any other malicious activities.Any damage to the insured vehicle due to the consumption of alcohol, drugs, or any other intoxicated material by the driver of the vehicle.
EarthquakesNo coverage if the driver does not have a valid driving license upon an accident.
Flood, storm, typhoon, cyclone, and hurricane 
Landslide or rockslide 
Being in transit via roadways, waterways, railways, airways, and even elevators. 

Insurance IDV

IDV in bike insurance stands for the insured declared value of the two-wheeler. It generally gets reduced due to the age of the vehicle and on account of depreciation. When you raise a claim, the insurer only compensates up to the amount insured based on the IDV.

The insured will need to bear the extra amount (if any). However, if you avail of an add-on like zero depreciation, you can negate the effect of depreciation and get a higher bike insurance claim amount.

Insurance Calculator

IDV is calculated based on the following formula:

IDV= (Manufacturer’s listing price- depreciation) + (Accessories or extra fittings- depreciation

Read more - Two Wheeler Insurance Premium Calculator

Calculation of Kotak Mahindra Two-wheeler Insurance Premium

The insurer considers the following factors while calculating your two-wheeler insurance premium:

  1. Make and Model: The premium varies based on the condition of the vehicle, type of engine, ex-showroom price, year of manufacturing, etc.
  2. Add-on Covers: Bike insurance add-on are optional and come with an additional premium.
  3. Type of Coverage: The type of coverage impacts the premium rate.
  4. Age, Gender, and Location of the Buyer: Young people and people from an area that is less prone to accidents can get a low premium.

Additional Benefits of Kotak Two-wheeler Long-term Insurance

Below are some benefits you can add to your Kotak two-wheeler insurance add on cover by paying an additional premium while buying or renewing.

  1. Engine Protection
  2. NCB Protection
  3. Consumables Cover
  4. Zero Depreciation Insurance
  5. Roadside Assistance


Besides providing various add-on covers, Kotak Mahindra General Insurance offers other benefits. It has everything from providing online assistance to offering zero depreciation insurance! The company has broadly two types of two-wheeler insurance policies - third-party liability insurance or comprehensive insurance. 

These policies have certain inclusions and exclusions. Here, you can choose the best as per your needs!

Read more- 


1. How to deal with a loss of a long-term Kotak bike insurance policy?

In such a case, firstly, get an FIR done at the police station and apply for a duplicate policy from Kotak Mahindra General Insurance. Submit a written request along with the documents needed. After document verification and complying with the terms and conditions, the company will issue a duplicate policy. 

2. How much will a long-term Kotak bike insurance policy compensate me in case I lose my two-wheeler?

In case it is lost, you are eligible for a claim up to the IDV of the vehicle. The IDV is decided based on the engine’s cubic capacity, location, and bike age. If your IDV is high, you can claim a higher amount and vice versa. 

3. What is the tenure of the Kotak long-term bike insurance policy?

As per the IRDAI’s recent announcements, new bikes must be insured for five years in case of third-party insurance. For comprehensive policy, one can opt for one year as well. Kotak Mahindra General Insurance offers both kinds of insurance policies for you to choose from. 

4. Is it possible to cancel your long-term Kotak bike insurance policy in the middle of the tenure?

Yes, you can cancel your vehicle’s policy anytime. The insurer will reimburse the premium based on the days or months for which the coverage was not availed. It may also include minimal cancellation charges.

5. Does the Kotak long-term policy allow you discounts for installing an anti-theft device?

Yes, since it ensures your vehicle's safety, it would attract a lower premium. Ensure to inform the insurer about such a change when doing the same.

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