Kotak Mahindra Standalone Own Damage Bike Insurance

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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 standalone bike insurance policy covers the damages incurred by the insured bike in all varieties of circumstances, whether it is artificial or natural, i.e. to say whether it is theft or flood. This policy only covers own damages and not third-party liabilities. 

How does Kotak Mahindra Standalone Two Wheeler Insurance Policy Work?

The standalone on Kotak Mahindra two-wheeler insurance policy makes its contribution at those times when the insured bike meets an accident or a mishap. The range of reasons behind such mishaps can be many, for example, loss due to flood or earthquake, a road accident, fire, robbery or theft of the insured bike and many others. When such a mishap occurs, one needs to raise a claim in the name of the insured bike and submit all valid documents and proofs. Once everything is rectified, the claim is settled.

Kotak Mahindra Standalone Bike Insurance Vs Third Party Bike Insurance Vs Comprehensive

The difference among the above mentioned are as follows –

Points of DifferenceStandalone InsuranceThird-party InsuranceComprehensive Insurance
IncludesCovers only the insured and his bike against all odds.Covers only third party liability.Covers the insured and third party liabilities.
NecessityOptional to buyMandatory to buyOptional to buy
Add-onsMultiple add-ons can be addedCannot be addedMultiple add-ons can be added

What All is Covered Under Kotak Mahindra Standalone Bike Insurance Policy?

Under the Kotak Mahindra standalone bike insurance policy, the numerous things covered are as follows – 

  1. Damage by Natural Calamities – If an insured bike undergoes damage due to natural calamities such as earthquakes, floods, typhoons, etc., it is covered by the standalone policy.
  2. Damage by Man-made Issues – If the insured bike undergoes damages due to artificial issues such as robbery, theft, accident, etc., it is covered by the Kotak Mahindra standalone two-wheeler insurance policy.
  3. Owm Damages in Accidents: If you or your bike undergoes damages during accidents/collisons, all the expenses are covered under this policy.
  4. Bike Theft: If your bike is stolen or completely damaged beyond repair, your bike insurance policy got you covered.

What All is not Included Under Kotak Mahindra Standalone Bike Insurance Policy?

The things that are not included under the Kotak Mahindra standalone bike insurance policy are as follows –

  1. Third-party Liability – There is no third-party coverage provided under the standalone policy. Since Motor Law has made it necessary to have third party coverage, one cannot suffice with only a standalone policy.
  2. Personal Accident Cover – The Kotak Mahindra standalone two-wheeler insurance policy does not come with a personal accident cover. This means that though the insured bike is under full policy coverage, the rider has no insurance and hence will need to buy one apart from the standalone policy.
  3. Ageing of Bike – Any damage caused to the bike as part of the normal wear and tear is not covered under Kotak Mahindra standalone bike insurance policy.
  4. Rash Driving or Drunk Driving – If the insured bike undergoes an accident while the rider is under the influence of alcohol or any other drug or if the rider is willfully driving against the driving laws and breaking speed limits, then no cover would be provided under the Kotak Mahindra standalone two-wheeler insurance policy.

Kotak Mahindra Standalone Bike Insurance Benefits

The benefits of having Kotak Mahindra standalone bike insurance policy are as follows –

  1. Add-ons - Kotak Mahindra Standalone Two-wheeler Insurance Policy allows one to get the cover of add-ons at very reasonable prices. The add-ons that can be purchased are –, zero depreciation cover, engine protection cover, NCB protection cover, etc.
  2. Peace of Mind: You can have complete peace of mind if you buy Kotak Mahindra bike insurance as this policy keeps you away from all the legal complications and hassles. 
  3. Cashless Claim Settlement: The company offers all their policyholders cashless claim settlement , which means you can easily get your damaged vehicle repaired in any authorized network garage across the country. 
  4. Friendly Customer Service: With their highly supportive and apt customer service, you can any time reach out to them and enjoy a hassle-free insurance journey.

Kotak Mahindra Standalone Bike Insurance Review

The Kotak Mahindra standalone bike insurance policy ensures the bike from all kinds of mishaps and makes for a good buy. This is the reason people want to buy insurance from this company. With their strong customer base and reliable services, the company serves all their customers with utmost commitment and dedication. And, ensure to make their insurance buying experience hassle-free. 

Kotak Mahindra Standalone Bike Insurance FAQs

  • 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.

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