Kotak Mahindra Bike Insurance Claim

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Kotak Two Wheeler Insurance Highlights

Kotak (Two Wheeler 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.
Claim Settlement Ratio
Video Claim
-Door step repair & spot settlement option for small claims in metro cities
close -Door step repair & spot settlement option for small claims in metro cities

The Kotak Mahindra two-wheeler insurance claim can be made really easily. All one needs to do is call the insurance company right after the mishap. The company takes care of everything from there. The documents to be submitted are mentioned and can be submitted online. The company offers two kinds of claim settlements – cashless and reimbursement. It is pretty much a straightforward and hassle-free process.

List of Documents Required During Claim Settlement

The list of documents required during the Kotak Mahindra claim settlement process is as follows-

  1. A valid copy of the two wheeler insurance policy along with contact details and the policy holder's name.
  2. The insured two-wheeler’s registration number.
  3. Details of the accident, such as time and date and a short description.
  4. The details of the garage where the repair was done, along with the bills.

In case of theft or accident, a copy of the FIR must also be attached with the above documents.

How to Make Kotak Mahindra Bike Insurance Claim Online?

To make claim on Kotak Mahindra bike insurance online, one needs to call the policy issuer as soon as the mishap happens. Informing the insurance company first-hand makes things easy for both parties. The insurance company can access the damage right away, and the policyholder will be required to submit all the related documents online. Hence, the policyholder can enjoy the claim settlement on time and without much hassle.

How to Make Kotak Mahindra Cashless Bike Insurance Claim?

The Kotak Mahindra cashless bike insurance claim can be made in the following way –

  1. Once the mishap happens, the rider should directly contact their insurer.
  2. The rider would then be allotted a nearby garage which comes under the huge garage network of Kotak Mahindra.
  3. Assistance from the assigned garage comes right away, and after inspection by the service provider, the necessary repairs are done.
  4. The payment on behalf of the policyholder is made by the insurance company directly.

How to Make Kotak Mahindra Reimbursement Bike Insurance Claim?

The Kotak Mahindra reimbursement bike insurance claim can be made in the following way –

  1. The policyholder must contact their insurance company when the insured bike undergoes any damage.
  2. Once the company is informed, they take the necessary steps for easy claim settlement.
  3. If the cashless service cannot be availed, the company allows for a reimbursement facility.
  4. In case of reimbursements, the rider himself needs to make payment for repairs at the workshop. Upon submission of the garage bill, a refund is made to the policyholder.

Common Kotak Mahindra Bike Insurance Claim Rejection Reasons

The most common mistakes that one must avoid while making a Kotak Mahindra bike insurance claim is as follows –

  1. Licence – The insurance company will not reimburse the claimed amount if the rider's licence is not valid or if the rider is not licenced at the time of the accident.
  2. Geographical Limitations – The Kotak Mahindra two-wheeler insurance claim is only valid in India, and hence same cannot be applied beyond Indian borders.
  3. Transfer of Insurance and RC– In the case of a second-hand purchase of a bike, it is important to get the insurance and RC transferred to one's name or else the claim can be rejected.
  4. First-hand Information Relay – In case of an accident, it is very important to inform the insurance company right away for easy claim settlement.
  5. Rash Driving – If a bike meets an accident because the rider was intentionally driving in a rash manner and if so is proven, the insurance company is not liable to pay the insured amount.
  6. Drunk Driving – Riding one's bike under the influence of any kind of drug is also one of the reasons behind the rejection of an insurance claim.

Kotak Mahindra No Claim Bonus

The Kotak Mahindra no claim bonus refers to the benefit in terms of discounts provided by the company to riders who do not make claims on the insurance during the insurance period. It helps in lowering the premium over the years. The rate of the no claim bonus increases by 5% every year if no claim is made.

Kotak Mahindra Bike Insurance Claim FAQs

  • 1. What is the Kotak Mahindra two-wheeler insurance claim settlement ratio?

    The claim settlement ratio (CSR) of the Kotak Mahindra two-wheeler insurance company is 98%, which is considered good. 

  • 2. When can a no claim bonus be ended?

    If the rider makes any claim during the policy period, the no claim bonus becomes zero right away and cannot be claimed.

  • 3. Can the Kotak Mahindra bike insurance claim be rejected if the FIR is not done?

    The FIR copy is needed in cases of theft, robbery or third-party accidental damage. Hence, in the absence of such an important document, the company can reject the claim.

  • 4. Does the policyholder need to make any payment while availing the Kotak Mahindra cashless bike insurance claim at a network garage?

    Technically, the policyholder needs to pay only the deductible amount which had been pre-decided while taking the policy. Aside from that, the insurance company pays the network garage directly for the repair work on the insured two-wheeler.

  • 5. How long does it usually take to settle the Kotak Mahindra two-wheeler insurance claim?

    The number of days it takes to settle a claim varies from situation to situation. But generally, claims are squared within weeks of filing with the insurance company.

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