Kotak Mahindra Third Party Bike Insurance

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The Kotak Mahindra third-party two-wheeler insurance is meant for all the bike owners out there. It only covers third party damages in the quickest way possible. Add to it the low premiums of this policy and the easy renewal methods. And maybe one can also add the trust the brand name invokes and the service the company provides. 

How does Kotak Mahindra Third Party Two Wheeler Insurance Policy Work?

Here's an example to elucidate how the Kotak Mahindra third party bike insurance works. Say the insured bike gets into an accident whereby a third party incurs a damage (the third-party can either be a person or property). The third-party will file a claim with Kotak Mahindra two wheeler insurance, and in no time, the claim will be settled by compensating for the accidental damages to third-party.

Kotak Mahindra Third Party Two Wheeler Insurance Vs Comprehensive Two Wheeler Insurance

The difference between the two is as follows- 

Third-party InsuranceComprehensive Insurance
The Kotak Mahindra third-party bike insurance only covers damages and injuries made to a third-party by the insured bike. Damages to the insured bike itself are not covered under this insurance.Comprehensive insurance covers the damages incurred to the insured bike for several reasons, like artificial or natural calamities. Plus, it also covers third-party liabilities.
Bike owners in India must have third-party two-wheeler insurance.It is not compulsory for bike owners to have comprehensive insurance.
The premium cost is comparatively low.The premiums are high.
You cannot enhance coverage by adding additional add-ons.You can buy add-ons to ensure enhanced protection.

How to Buy Kotak Mahindra Third Party Two Wheeler Insurance Policy?

The Kotak Mahindra third party bike insurance can be easily bought online and offline.

For Online Purchase – To purchase the Kotak Mahindra third party two-wheeler insurance online, one needs to visit the company's website and click on the 'Get Quote' option. After viewing the premium amount, one can click proceed, fill out the details, and make the payments online. Once the premium is paid, the company sends a mail to the insurer. The soft copy of the policy can be downloaded anytime from the website.

For Offline Purchase – To purchase the policy offline, one needs to either visit the company's office or visit an authorized broker to get the quote.

What All is Covered Under Kotak Mahindra Third Party Two Wheeler Insurance Policy?

The major aspects that are covered under the Kotak Mahindra third-party bike insurance are as follows-

  1. Third party's Death Due to the Accident is Covered – In case death occurs due to an accident caused by the insured bike, then the loss is covered under the Kotak Mahindra third party two-wheeler insurance.
  2. Injuries Caused to a Third-party- Are any injuries caused by the insured bike to a third party.
  3. Vehicle and/or Property Damage of the Third Party – If the insured bike has caused any third party vehicle and/or property damage, it is also covered by the Kotak Mahindra two-wheeler third party insurance.

What All is not Covered Under Kotak Mahindra Third Party Two Wheeler Insurance Policy?

Following are the factors that are not covered under the Kotak Mahindra third-party two-wheeler insurance are – 

  1. No Cover for the Bike – The insured bike remains without any coverage under the third party coverage policy.
  2. Unlicenced Driving – In case, the bike is being driven without a valid licence, the claims under Kotak Mahindra third party bike insurance will not be considered.
  3. Drunk Driving – In case of drunk driving accidents, the company does not entertain third-party insurance claims.

Key Benefits of Purchasing Kotak Mahindra Third Party Two Wheeler Insurance Policy

The important benefits of purchasing Kotak Mahindra third-party two-wheeler insurance are as follows – 

  1. Low Premiums – The Kotak Mahindra third-party bike insurance is available at very low premiums, making it affordable for all. Especially now that it has been mandatory by law to have a third party insurance cover for all bikes.
  2. Easy renewals – The two wheeler insurance can be easily renewed before the expiration date by simply logging into the website of Kotak Mahindra. The company accepts all kinds of online payments.
  3. Hassle-free settlements – The best feature of Kotak Mahindra's third party bike insurance is the easy way of making a claim and receiving the settlements. The claim can be registered by calling the company on a toll-free number available on the website. The claim is settled as soon as the documentation is completed.

Kotak Mahindra Third Party Two Wheeler Insurance Review

The Kotak Mahindra third party bike insurance is a great option for all bike riders. The advantages of having this policy are numerous, for example, easy renewals, prompt claim settlements and many more.

Kotak Mahindra Third-party Bike Insurance FAQs

  • 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.

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