Kotak Bike Insurance Claim
Kotak General Insurance has made its mark in the financial year 2017-2018 through its impressive claim settlement ratio of 80.82%. It has been settling claims of its policyholders seamlessly.
Kotak General Insurance has digitalised the procedures involved in the purchase, claim and renewal of the policy to reach out to a larger number of people. The claim settlement procedure can be conducted both online and offline as per one’s preference. It has established an efficient customer care service to guide the policyholders through the process.
List of Documents Required During Claim Settlement
Following documents are required at the time of settling a bike insurance claim.
- Duly filled and signed claim form
- Self-attested copy of Registration Certificate (RC)
- Driving license of the person driving at the time of the accident
- Policy copy
- Original repair estimate, repair invoice and payment receipt for non-cashless claims
- Original repair invoice for cashless claims.
How To Make a Cashless Bike Insurance Claim with Kotak Bike Insurance?
Kotak General Insurance has introduced a claim settlement process for the bike insurance policy in the following simple steps to offer a hassle-free experience to its policyholders.
Step 1: Contact Kotak General Insurance
To intimate a new claim, you should contact the insurer within 24 hours of the accident, theft or damage of the insured’s bike. You can contact the insurer by calling on its official number 1800 266 4545 or by visiting the nearest branch.
Step 2: Register Claim
A representative of the insurance company contacts you after the intimation. You have to inform him of the policy number, date, time and location of the incident, accident or theft and all other related details. The representative provides you with a claim registration number marking that your claim has been successfully registered.
Step 3: Survey of Damages
A company surveyor is sent to assess the extent of the damages caused to the bike during the accident. In the case of third party property damage, provide its vehicle registration number. You can even provide contact details of witnesses if any as proof. The surveyor estimates the cost of repair and collects the duly filled claim form, policy documents and proves of the incident.
Step 4: Claim Settlement
After assessing all the aspects, the surveyor gives approval. The insurer confirms its financial and legal liabilities and pays all the expenses of repair of the insured’s bike to the garage. The claim amount is calculated taking the deductibles and depreciation into consideration.
How To Make a Reimbursement Bike Insurance Claim with Kotak Bike Insurance?
You can register a reimbursement claim if there are no network garages nearby or you wish to repair the insured’s bike in any other garage. The insurer provides compensation for repairing the bike through a reimbursement claim. The process of placing a reimbursement claim is described in the following steps.
Step 1: Contact the insurer
You can initiate the reimbursement process by dialling its helpline number 1800 266 4545. You can even register a claim by visiting the nearest branch. The insurer should be informed immediately after the accident or theft of the insured’s bike.
Step 2: Register A Claim
Kotak General Insurance company executive calls you back after the intimation. You have to inform the executive about the policy number and details about the accident. You receive a unique claim reference number from the executive.
Step 3: Survey of the Damages Incurred
Do not move the bike to the garage before the surveyor arrives. The insurance company appoints a surveyor to check the condition of the bike. The surveyor produces an estimate of the cost of repair and collects the required documents, duly filled claim form and contact numbers of witnesses or photos of the incident as proof.
Step 4: Repair and Reimbursement
After the approval, you can send the bike to your desired garage and repair it at your own expense. After the completion of the repair, the bills and receipts of repair along with policy documents are to be submitted to the insurer for the reimbursement. The company verifies the case and once it passes the check, the insurer disburses the claim amount taking into account all the deductibles and depreciation.
Common Claim Rejection Reasons
In case of claim settlement under Kotak Insurance Company, there are specific grounds that you need to consider so that your claim is not rejected. The insurer rejects a claim for the following reasons.
- Registration of a fraud Claim
- Misinterpretation of facts
- Driving without a licence
- Driving under the influence of alcohol or intoxicating drugs
- Delay in intimation about the mishap to the insurer
- Act of negligence
Kotak Bike Insurance User Reviews
Kotak Bike Insurance Claim FAQs
What is Claim Settlement Ratio?
Claim Settlement Ratio refers to the ratio of the number of claims settled by the insurer against the number of claims received. It reflects the effectiveness of the insurance company to settle claims efficiently.
What coverage amount would I get in case of theft?
The insurer provides the calculated Insured Declared Value (IDV) of the bike deducting the depreciation and deductible in case of theft of the insured’s bike.
Can I register a claim in case of the total loss of the insured’s bike?
No, you cannot register a claim in case of a total loss of the insured’s bike. Kotak bike insurance does not provide coverage for the total loss of the insured’s bike.
Can I register a claim in case of consequential damage under Kotak bike insurance policy?
No, you cannot register a claim under Kotak Insurance for consequential loss or damage of the insured’s bike as it is not covered under this policy.
How should I contact Kotak Insurance in case of roadside emergency?
You can contact Kotak Insurance for a roadside emergency by dialling their helpline number which is 1800 266 4545.