Starting at only ₹6 per Day*
Kotak Mahindra Two Wheeler Insurance FAQs
Enter your details to buy Car Insurance
By proceeding you agree to Terms & Conditions
- Compare and buy at best price
- Instant Policy Issuance
- No unwanted calls. We promise!
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
1. Does the premium amount increase for my policy after a claim is processed?
The change in premium amount does not depend solely on claims. It also depends on other factors like the model of the vehicle, the nature of the policy, etc.
2. How do I get the claim form and the cashless list of garages?
You need to visit the website ( www.kotakgeneralinsurance.com ) of Kotak Mahindra to avail of the claim form and the detailed list of cashless garages is also found on the website.
3. How can I register my Two-Wheeler Insurance claim?
You should intimate your claim to the toll-free number of the call centre or send an email to the company.
4. Are Add-ons available with the Two-wheeler insurance plans?
Yes, add-ons are available with the two-wheeler insurance plans. You can opt for depreciation cover, personal accident cover, etc. You must remember that each add-on comes at an additional cost.
5. What is No Claim Bonus (NCB) in Long-term Two-Wheeler Policy?
No Claim Bonus accumulates in case the policyholder does not make any claim. This accumulated NCB offers you a lucrative amount in the policy premium of two-wheeler insurance if not claimed.
6. What is the Incurred Claim Ratio for Kotak Mahindra Two-Wheeler Insurance Plans?
The incurred claim ratio for Motor Insurance Claims of Kotak Mahindra General Insurance Company Limited is 74% for the year 2018-19.
1. Can Kotak Mahindra bike insurance renewal happen after the expiry of the policy?
Yes, the policy can be renewed even after the expiry of up to 90 days of grace period. However, renewing the policy before the expiry date is recommended to ensure a smooth and insured ride.
2. Is it necessary to renew Kotak Mahindra bike insurance policy every year?
Yes, generally, policies are bought for one year. However, policies with longer insurance periods such as 3 or 5 years can be easily bought from the insurance company. Thus, you can avoid the hassle of yearly renewal.
3. What are the disadvantages of not renewing one’s Kotak Mahindra bike insurance policy?
There are a number of disadvantages, such as – attracting fines, NCB disagreement, and others.
4. Can new covers be added to the Kotak Mahindra two- wheeler insurance policy?
Yes, new covers can be added to the existing policy during the renewal of the policy.
5. Does a customer enjoy any grace period before the Kotak Mahindra bike insurance policy renewal after expiry?
Yes, a customer is given a 90-days grace period in which he/she can renew the policy.
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.
1. How can one download a duplicate copy of the Kotak Mahindra bike insurance policy documents online?
All one needs to do is visit the company’s website. Then, in the download policy section, enter the details of one's policy and download a copy of the insurance policy online.
2. What is an insurance repository?
An insurance repository is a registered company under IRDAI that can store policy details of various policyholders in electronic form.
3. What is the E-Vahan Bima?
The E-Vahan Bima is an IRDAI-approved way of storing one's insurance documents online. The QR code present on the document provided by the insurer can be scanned to obtain all necessary information regarding one’s policy.
4. Can the Kotak Mahindra bike insurance policy document be transferred?
Yes, the policy can be transferred in case of transfer of ownership of a bike.
5. What constitutes proof of insurance?
Proof of insurance must have details of the policyholder along with the valid policy number and the details of the insured bike.
Add On Covers
1. How many times can the no claim bonus be revived in case one takes the no claim bonus cover under Kotak Mahindra bike insurance add-on covers?
The no-claim bonus can be revived up to twice in a policy period with the no claim bonus cover.
2. What is the duration of Kotak Mahindra’s two-wheeler insurance add- on covers?
The duration is one year for all add-on covers. These can be renewed with the standalone or comprehensive insurance.
3. How can one claim the settlement on Kotak Mahindra bike insurance add on covers?
The claim settlement follows the same process as a settlement on any other insurance. One just has to call the insurance company to initiate the settlement process.
4. Can one purchase an add-on cover with the third-party liability cover?
No, it is not possible to purchase add-on covers with third-party insurance cover.
5. Is it important to buy all Kotak Mahindra add-on covers for one’s bike?
It is advantageous to have as much coverage as possible; however, buying all add-on covers is not necessary.
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.
1. What is the reimbursement process for Kotak Mahindra third party bike insurance?
One needs to call the helpline to raise the claim settlement. Once the claim is raised, bills are submitted along with the policy details for reimbursements.
2. When does one need to renew the Kotak Mahindra third party two-wheeler insurance?
The policy needs to be renewed before the expiration date of the policy.
3. Can the policy be cancelled in the middle of the policy term?
Yes, the policy can be cancelled in the middle of the policy term. One needs to contact the company for details on this subject.
4. Does Kotak Mahindra's third party bike insurance come with add-on covers?
No, the policy itself does not come with any add-ons.
5. What is the tenure of Kotak Mahindra's third party bike insurance?
The tenure of the third party bike insurance of a new bike is 5 years, according to the revised rules.
1. Can a person choose not to buy the Kotak Mahindra zero depreciation bike insurance and the mandatory third-party liability cover?
Yes, it has been now made mandatory only to have the third party liability cover; hence one can go on without the zero depreciation cover. However, having the zero depreciation cover has such benefits that skipping it might be worse than paying the little extra premium for it.
2. Can one get a discount on Kotak Mahindra zero depreciation bike insurance premium?
No, the company provides no discounts on the premium cover at the moment.
3. What are the two-wheeler parts on which the zero depreciation cover is applied?
The zero depreciation cover is applied to rubber/nylon/plastic parts, fibreglass parts, and glass parts.
4. How does Kotak Mahindra zero depreciation bike insurance help save more money?
The premium for zero depreciation cover seems quite high to the onlookers. Still, if the bike undergoes any damage, the claim amount will be settled without taking into account the depreciated value of the bike. This will mean that the compensation one receives is much higher than the premium paid.
5. What is the cost of a zero depreciation cover?
The approximate cost of zero depreciation cover is 15% of the bike insurance premium.
1. What factors affect the Kotak Mahindra standalone bike insurance policy premium?
All factors to consider include the insurance covers declared value of the bike, the engine capacity of the bike, the age of the bike, the no claim bonus, the add-ons purchased, along with standalone policy.
2. What is meant by IDV used to determine the premium on Kotak Mahindra standalone bike insurance policy?
IDV stands for Insured Declared Value. It is the current market value of the insured bike based on which the bike’s premium is decided.
3. Is the roadside assistance facility provided under the Kotak Mahindra standalone two-wheeler insurance policy?
The roadside assistance facility can be bought as an add-on cover along with the standalone policy.
4. How can one raise a standalone claim?
To raise a claim under Kotak Mahindra standalone bike insurance policy, one needs to call the company as soon as possible after the mishap. In case of theft or robbery, one will also need to file an FIR.
5. What is the duration of claim settlement under the Kotak Mahindra standalone two-wheeler insurance policy?
There is no fixed duration for claim settlement since one case can be so different from another. However, the company is known for quick settlements, and hence if all goes systematically, the claim is settled within 7 working days.
Add ons for your Two Wheeler Insurance
You May Also Like
Recent ArticlesView All
Select the appropriate no-claim bonus percentage while renewing your bike insurance policy and save significan...Read More
Renewing your two-wheeler insurance online is easier, faster, and simple and doesn't require paperwork. Follow...Read More
What are the different variants of bike insurance available at the moment? Read on to find out the various typ...Read More
Do you need to buy insurance from a bike dealer? Is it mandatory? The answer may surprise you. Read more to de...Read More
Acko bike insurance provides two bike insurance policies considering your requirements. They offer mainly thir...Read More