Kotak Third Party Car Insurance
The third party legal liability cover offered by Kotak General Insurance protects the policyholder against losses/damages caused to third party property and life by his/her car. The third party policy provides a cover for up to Rs. 7.5 lakh for third party damage and an unlimited coverage for damages caused due to injury/death of a third party due to the insured vehicle.
The third party car insurance policy helps you insure yourself against financial liabilities which arise due to an accident of your car. Also, this basic cover helps you fulfil the legal requirement of owning a car insurance policy for your vehicle. Along with the 1-year policies, Kotak General Insurance also offers long term car insurance plans of 3 years tenure which are a mandatory requirement for new car owners.
Third Party Cover vs Comprehensive Policy
Basis of comparison
Third Party Cover
It indemnifies for injury/death of third party (unlimited coverage) and third party property damages ( of up to Rs 7.5 lakh).
It offers compensation for damages incurred by the insured car in addition to the third party liabilities.
Availability of Cashless Repair Facility
There is no cashless repair service for third party vehicles.
Cashless repair services at 3,300+ network garages.
No add-on covers are available with third party policy.
A pool of add-on covers such as Zero Depreciation, NCB Protection, etc. are available with the comprehensive policy.
Third party policy cover is relatively cheaper because of its narrow coverage.
Comprehensive car insurance plan is relatively expensive owing to its wide coverage.
Kotak Third Party Car Insurance Coverage
The Kotak third party car insurance policy offers coverage for the following:
- Bodily injuries caused to a third party
- Death of a third party
- Compensation of up to Rs 7.5 lakh for third party property damage
The following are not covered under the Kotak third party car insurance policy:
- Damage caused to the insured car.
- Bodily injury/death of the policyholder. To get a cover for this, you need to opt for a personal accident cover of up to Rs. 15 lakh. The PA cover can be opted for either with the car insurance policy or separately.
Kotak User Reviews
Kotak Third Party Car Insurance FAQs
What is the validity period of my Kotak third party cover?The validity of a car insurance policy depends on its tenure. For new car owners, the policy period needs to be mandatorily of 3 years. Old car owners have the option to opt for a 1-year policy or long-term policy.
What is IDV?Insured Declared Value (IDV) of your car is the maximum sum assured fixed by a car insurer at the beginning of each policy period. The premium amount of your car insurance policy is determined using the IDV of your car.
What should I do in case of a serious third party injury?In case of a serious third party injury, you are advised to immediately rush to the nearest hospital and get medical help. After the medical aid, contact the Kotak General Insurance by calling their toll-free number 1800-266-4545 and raise a claim for the incident. In case of serious medical injury, you would also be required to lodge an FIR at the nearest police station.
My car is 3 years old and I want a long-term third party liability cover. Can I get it?Yes, you can have a long-term third party liability cover for old cars also. Please note that it remains a mandatory requirement for new car owners to have their car’s first insurance policy valid for 3 years.