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Kotak Bike Insurance

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Highlights
    Network Garages1,300+
    Claim Settlement Ratio82.81% in FY20
    Emergency AssistanceAvailable 24/7
    Policies Issued18 lakh+
    Claim ProcessDigitally Enabled
    Third Party CoverAvailable

    About Kotak Mahindra Bike Insurance

    Kotak Mahindra General Insurance is one of the fastest-growing general insurance companies in India. It was incorporated in December 2014 and started its work as an insurer after receiving its IRDA “Certificate of Registration” in April 2015. It has successfully reached out to millions of people by delivering bike insurance, car insurance, and several other products in this short period. The company has marked its presence among one of the leading insurance companies in India, which aims at reaching out to a large number of customer segments digitally with the best quality of bike insurance and other related services at affordable rates.

    Kotak Mahindra has its headquarters located in Mumbai and 18 branches spread all over India. It has provided employment to more than 350 people across India. It is a 100% subsidiary of Kotak Mahindra Bank Ltd. It caters to the need for financial security and protection against life’s uncertainties. Kotak Mahindra offers a variety of insurance ranging from health insurance to bike insurance. It strives to reach out to a large number of people with the best quality bike insurance products and solutions.

    Kotak General Insurance Company is determined to connect to every individual without letting the geographical boundaries become a matter of concern and thus strives to connect with people digitally. Kotak General Insurance Company offers an array of insurance products such Two-Wheeler Insurance, Car Insurance, Health Insurance etc. that fulfill the different requirements of different individuals. The insurance company ensures seamless purchasing/claim settlement/renewal processes for the different types insurance products it offers to its customers. With this type of performance and improvisation, Kotak General Insurance has won several awards. Kotak General Insurance was honoured with ‘Marketer Company of the Year’ by India Insurance Summit and Awards 2020. The insurance company has bagged ‘ANA ECHO International Awards 2020 (Bronze)’ for its quality of services provided to its customers.

    Kotak Mahindra Bike Insurance

    Kotak General Insurance Company offers three major types of two-wheeler insurance policies that one can choose from according to their requirements and budget. Three types of two-wheeler insurance policy offered by Kotak General Insurance are Third Party, Standalone Own-Damage and Comprehensive Insurance policy. A two-wheeler insurance policy provides the policyholder legal and financial protection from the uncertainties of driving a two-wheeler. Two-wheeler insurance policy provides protection or coverage for damages to the two-wheeler or third party liabilities that may arise due to an accident or any other mishap.

    Kotak Two-Wheeler Third Party insurance policy will take care of the third party liabilities in case of an accident which results in bodily injuries, disability, demise and property damage of the third party. Buying a third party insurance policy is compulsory in India as per the Motor Vehicles Act. If a person is caught driving the two-wheeler without a third party insurance policy he/she can be fined for Rs. 2,000 and/or imprisonment for up to 3 months. This type of two-wheeler insurance policy provides financial and legal assistance in the times of crisis.

    Kotak Two Standalone Own-Damage insurance policy provides coverage for the damages to the insured two-wheeler in case of an accident or any other mishap. A standalone own-damage policy offers compensation for the damages to the two-wheeler in case of theft, vandalism, road accident and natural or man-made disasters. Standalone own-damages insurance policy provides financial protection to the policyholder for any damages to the two-wheeler in case of any mishap.

    Kotak Two-Wheeler Comprehensive insurance policy provides a blend of third party and standalone own-damage coverage to the policyholder. This type of insurance policy provides coverage for third party liabilities such as bodily injuries, disability, demise or property damage to the third party and also provides coverage for damages to the two-wheeler that may arise during an accident or any other mishap.

    You can also purchase add-on covers which further enhance the coverage of the standard two-wheeler insurance. Add-on covers are available with every own-damage cover and can be selected as per your requirements. Make sure to select the right add-ons as they can make a considerable difference in your claim amount if chosen correctly. Some add-ons that Kotak General Insurance offers are Depreciation Cover, Consumable Cover, Engine Protect, Return to Invoice and Garage Cash.Besides the add-on covers Kotak Mahindra also offers a No Claim Bonus for claim-free years for customers with own-damage covers. Moreover, they have a good track record for their claim settlement procedure for being quick, efficient and customer friendly.

    Significant Points of Kotak Mahindra Bike Insurance

    Features

    Coverage

    Third Party Insurance- Property Damage

    Up to Rs 1 Lakh

    Own Damage Cover

    Depends on the IDV of the Two-wheeler

    Personal Accident Cover

    Up to Rs 15 Lakh

    Assistance for Claim Settlement

    24x7 Helpline Available

    Calculate Your Bike Insurance

    Select your bike's brand
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    Which city is your bike registered in?
    • Ahmedabad
    • Bangalore
    • Chandigarh
    • Chennai
    • Gurgaon
    When did you buy your bike?
    20052019
    Have you made a claim in the previous year?

    Benefits of Kotak Bike Insurance

    • A wide network of 1,300+ garages
    • 24x7 emergency assistance is offered
    • Smooth and prompt claim settlement process
    • Digitally enabled insurance solutions provided
    • Allows policyholders to make unlimited claims.

    Must Read Articles before buying Kotak Bike Insurance

    Kotak Bike Insurance User Reviews

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    • Instant claim settlement

      On the InsuranceDekho platform, I had made a cashless claim for my Kotak bike insurance plan issued for my Ind...

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      N
      By Nidhi Rana
      On: October 27, 2021
    • Superb assistance

      After getting the insurance quotes, I was not confident enough on how to select the most ideal insurance plan....

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      By Raghuvinder Sharma
      On: October 25, 2021
    • Good

      Good experience .........

      A
      Hero Maestro Pune
      By ASHWINI PATIL
      On: October 23, 2021
    • Advantageous add-ons

      At the InsuranceDekho website, all the add-on covers listed are very advantageous. I went through their functi...

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      By Gurdeep Mann
      On: October 20, 2021
    • Short documentation process

      All in all it took me only 3 steps and 5 minutes for the documentation of my Kotak bike insurance plan for my ...

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      By Siddharth Gupta
      On: October 18, 2021
    • Insightful plan suggestions

      I am thankful to the staff of InsuranceDekho website for providing me with their insightful suggestions when ...

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      By Navya Bakshi
      On: October 13, 2021
    • Insurance plans by well known ...

      There are several top rated bike manufacturers listed on InsuranceDekho, who are offering suitable insurance p...

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      By Tina Maheshwari
      On: October 11, 2021
    • Availability of best quotes

      The insurance quotes listed on the InsuranceDekho website are the best in the industry. To generate the quotes...

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      By Neha Chaudhary
      On: October 6, 2021
    • Best website for insurance

      I was searching for an ideal bike insurance plan for my Jawa 42. After finding authentic and comprehensive det...

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      By Mauli Ganguly
      On: October 4, 2021
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      I landed on InsuranceDekho and found various suitable insurance plans for my KTM RC 125 within budget. To iden...

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      By Joseph Stellar
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    Insurance Products by Kotak General Insurance

    Kotak Mahindra Bike Insurance FAQs

    • Why do I need to have two-wheeler insurance?

      As per the Indian Motor Tariff, it is mandatory for all two-wheeler owners to have at least a third party insurance for their vehicle. Though comprehensive insurance is not mandatory, it is recommended to purchase one as it provides extensive coverage - coverage for own-damages sustained by insured’s two-wheeler in addition to incurred third party liabilities.

    • What is the tenure of Kotak Mahindra two-wheeler insurance policy?

      One can opt for short term insurance of 1 year or a long term of 3 or 5 years. However, as per the regulations of IRDA, a new two-wheeler owner is compulsorily required to have third party insurance for 5 years. One can purchase comprehensive insurance for a tenure of 1 year, 3 year or 5 years as per his/her requirements.

    • What are the benefits of Kotak Mahindra two-wheeler insurance policy?

      Kotak Mahindra two-wheeler insurance provides a quick and hassle-free claim settlement with their prompt customer assistance. As Kotak Mahindra has a well developed digital infrastructure, one can opt for paperless renewal without stepping out of their house.

    • What is the coverage amount for the third party under Kotak Mahindra two-wheeler insurance policy?

      Kotak Mahindra third party two-wheeler insurance policy provides compensation up to Rs. 7.5 lakh for property damage. In case of death or bodily injuries of a third party, the amount of compensation is decided by a court of law.

    • What is IDV? How to calculate it?

      The Insured Declared Value (IDV) refers to the maximum amount one can claim from the insurer in case of theft or total loss of the two-wheeler. This amount is calculated after the calculation of the depreciation of the vehicle. However, IDV is calculated separately if any modification of the vehicle is done.


      IDV is calculated using the following formula:


      IDV = (Manufacturer’s listing price - Depreciation) + (Accessories or extra fittings if any - Depreciation)

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    Disclaimer

    This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
    #Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.