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Kotak Mahindra Comprehensive Bike Insurance Policy
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Kotak Two Wheeler Insurance Highlights
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
-Door step repair & spot settlement option for small claims in metro cities
-Door step repair & spot settlement option for small claims in metro cities
Kotak Mahindra comprehensive bike insurance offers extensive financial coverage for two-wheelers. The comprehensive policy of Kotak Mahindra two-wheeler insurance policy is one of the best options for bike riders. The comprehensive cover offers complete coverage to the insured bike from artificial and natural calamities. Let’s see what other benefits Kotak Mahindra comprehensive policy offers. It also mentions various benefits that the policy offers and identifies a list of clauses where the policy doesn’t extend any benefits.
How does Kotak Mahindra Comprehensive Two Wheeler Insurance Policy Work?
Kotak Mahindra, a comprehensive two-wheeler insurance policy, works effortlessly. This bike insurance policy protects the insured bike from various damages and comes with additional perks like covering third-party liabilities as well . If the insured bike suffers any damage, or if there is a third-party mishap, a claim is raised, and upon submitting the required documents, the claim is settled by the insurance company.
Kotak Mahindra Comprehensive Two Wheeler Insurance Vs Third Party Two Wheeler Insurance
|Third Party Bike Insurance
|Comprehensive Bike Insurance
|Offers coverage for third-party liabilities only.
|Apart from third party liabilities, the comprehensive policy also offers coverage for damages incurred by the policyholder.
|You won't receive protection for damages caused by natural or manmade disasters.
|Damages caused by natural or manmade activities are covered by the policy.
|You cannot add additional add-ons to the third-party policy.
|You can add additional add-ons to the comprehensive policy.
|This type of insurance is deemed mandatory by law.
|It is not mandated by law.
How to Buy Kotak Mahindra Comprehensive Two Wheeler Insurance Policy?
One can buy the Kotak Mahindra comprehensive two-wheeler insurance policy online.
- You simply need to visit the site of Kotak Mahindra and click on the "Get Quote" option.
- Upon going through the quote, one can fill in the details.
- Moreover, one can also buy several add-on covers with the comprehensive policy for added safety.
- Pay the premium via any online payment option and become a part of the Kotak Mahindra family.
The Kotak Mahindra comprehensive bike insurance policy can also be bought offline. One will need to visit the office of Kotak Mahindra and fill the application form while submitting the required documents to buy this policy offline.
What All is Covered Under Kotak Mahindra Comprehensive Two Insurance Policy?
The major things covered under Kotak Mahindra's comprehensive two-wheeler insurance policy are as follows-
- Third-party liabilities
- Own damages to insured and/or his bike
- Damages through natural/man-made calamities
- Damages happened via theft, fire, etc
What All is not Covered Under Kotak Mahindra Comprehensive Two Wheeler Insurance Policy?
The facilities that are not included in the Kotak Mahindra comprehensive two-wheeler insurance policy are as follows –
- Loss due to depreciation is not covered.
- Loss incurred due to rash driving is not covered.
- Loss incurred while riding the bike without a licence is also not covered.
- Damage to tyres and tubes is not covered.
- The wear and tear of the bike because of its usage over the years is not covered.
Kotak Mahindra Comprehensive Two Wheeler Insurance Policy Benefits
The benefits of buying the Kotak Mahindra comprehensive two-wheeler insurance policy are many, as enumerated below
- Online Quote Generation – The policy can be bought online without the hassle of paperwork and running to the office several times.
- Easy Online Renewal – The policy can be renewed easily by simply visiting the site and registering for the renewal before the policy's expiry date.
- Availability of Add-ons – One can also purchase various add-on covers and the Kotak Mahindra comprehensive two-wheeler insurance policy. This ensures extra coverage for one's ride.
- Long-term Policy Tenure- The Kotak Mahindra comprehensive two-wheeler insurance policy can be bought for multiple tenures like 2 or 3 years. The advantage of buying a policy for a long tenure is enjoying additional discounts, no hassle of renewing annually and a tension-free ride.
- No Claim Bonus – One can enjoy the no-claim bonus facility by purchasing the Kotak Mahindra comprehensive two-wheeler insurance policy. With this, the policyholder can get up to 50% discount on premiums in case of not raising a claim during the policy tenure.
- No Increase in Third Party Premium – The Kotak Mahindra comprehensive bike insurance policy, when bought for a long tenure, allows one to enjoy the facility of no increase in third-party premiums subject to annual revisions.
Kotak Mahindra Comprehensive Two Wheeler Insurance Policy Review
The Kotak Mahindra comprehensive bike insurance policy comes with many facilities enumerated above. Moreover, the claim generation and settlement are quickly done, making the whole thing a good option. This is the reason why Kotak Mahindra has become the preferred choice when it comes to buying a comprehensive bike insurance policy.
Add ons for your Two Wheeler Insurance
Kotak Mahindra Comprehensive Two Wheeler Insurance FAQs
1. What is the Kotak Mahindra comprehensive two-wheeler insurance policy tenures?
The company's policy tenures on their website are – 1, 2 or 3 years.
2. What happens in case of the death of the person who bought the Kotak Mahindra comprehensive bike insurance policy?
In case of the death of the person who bought the policy, the claim settlement is made to the nominee of the policy.
3. What additional benefits can be availed with Kotak Mahindra's comprehensive two-wheeler insurance policy?
The add-on covers that can be purchased along with the policy are roadside assistance, consumables cover, zero depreciation cover, etc.
4. Does Kotak Mahindra give AAI membership discount?
Yes, the company offers an AAI membership discount.
5. Can I cancel my Kotak Mahindra's comprehensive two-wheeler insurance during the policy tenure?
Yes, policyholders are allowed to cancel their comprehensive policy within the policy duration. For reimbursements in such cases, you will need to contact the company.
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