Kotak Third Party Car Insurance

Third-party car insurance is an insurance policy which is mandatory for every vehicle under the Motor Vehicle Act of India, 1988. A third-party car insurance policy covers the damages or injuries caused to a third party (person or property) in an accident involving your car. There are several insurance companies in the market that provide third-party car insurance. Kotak Mahindra General Insurance Company is a renowned insurance provider which offers a range of general insurance products including motor insurance. This page contains comprehensive details about Kotak's third-party car insurance, including inclusions and exclusions, the purchasing procedure, advantages, and factors that influence your premium.

How Kotak Third-Party Car Insurance Works?

Third-party car insurance provides coverage for the damages your car causes to another person or their property in an accident. Your insurer will compensate for any injury or damage your car causes to a third party on your behalf. Note that this is true only when the damage or injury is accidental in nature. Any claim made for damage or injury caused intentionally will be rejected.

In order to file a claim, it is necessary to first file an FIR and obtain a copy of the charge sheet. The insured individual should then contact Kotak's customer care to report the claim. Further, an investigation will be conducted where your insurer will appoint a surveyor, and Kotak will take care of the rest on your behalf. It's important to take photographs and videos at the accident site, clearly capturing the extent of damage caused to the third party person or property.

Cases of road accidents are directly transferred from the surveyor to the Motor Accident Claim Tribunal (MACT), which is responsible for handling all road accident cases. There might be a requirement to attend a hearing at the MACT, where Kotak will be your representative. After hearing from both parties, the MACT will determine and announce the compensation amount. In the case of injury, there is no upper limit on the amount of compensation to be paid, as all medical expenses are covered by the insurer. However, the law caps compensation for property damage at 7.5 lakh Rupees.

Key Metrics of Kotak Third-Party Car Insurance

Some key metrics associated with Kotak third-party car insurance are listed below.

Key Features of Purchasing Kotak Third-Party Car Insurance

Here are the key features of Kotak's third-party car insurance:

• Third-Party Damage Cover: Kotak provides coverage for the required compensation. It covers all medical costs if a person is injured in an accident or a maximum of 7.5 lakh Rupees if the property is damaged.
• Optional Personal Accident Add-on: Kotak provides an optional personal accident coverage to extend the benefits of your third-party liability policy, safeguarding you by covering medical expenses in case of injury in an accident.
• Affordable and Standardised Pricing: The Insurance Regulatory and Development Authority of India (IRDAI) has standardised the cost of third-party car insurance.
• Legal Obligation: The car insurance policy from a third party is compulsory as stated by the Motor Vehicles Act, 1988. Therefore, by purchasing third-party insurance you are fulfilling a legal obligation.
• Long Term Coverage: In case you purchase a new car, you can have third-party insurance for an extended duration of three years which eliminates the need to renew the policy annually.

How to Buy Kotak Third-Party Car Insurance From InsuranceDekho?

To purchase a third-party car insurance policy from InsuranceDekho, you need to have the following :

1. Registration certificate of your car.
2. Any of your identification documents valid for KYC verification ( Aadhar, PAN, voter ID, or Passport)
3. Address Proof
4. Driving Licence of the owner
5. PAN card
6. Previous year car insurance policy (If applicable)

You can buy Third-party car insurance by both online and offline modes:

Online

The below-mentioned steps guide you in purchasing a Kotak third-party car insurance policy from InsuranceDekho online.

Step 1: Visit InsuranceDekho’s Website

When you visit the homepage of InsuranceDekho, and go to the motor insurance page, you will see a pop-up form. Complete the form with the details of your car and continue.

Step 2: Compare All Car Insurance Plans to Choose

You'll get quotes from several insurance companies that provide coverage for your car. Review them and choose the most suitable option for your requirements.

Optional Step: Connect with an InsuranceDekho Advisor

To contact an advisor from InsuranceDekho, click on the "request a call back" button. An experienced advisor will call you back to address your questions. Additionally, advisors can assist you in comprehending the advantages and differences among different insurance policies.

Step 3: Make Payment

Complete the process by making an online payment using credit/debit cards, UPI, and bank transfers.

Offline

If you want to adopt a traditional offline approach to purchase a policy, call 7551196989 and ask for home support. An assigned agent will come to your place to help you complete the process.

Alternatively, you can visit any branch of Kotak General Insurance and you will get all kinds of assistance regarding the process of purchasing third-party car insurance.

Benefits of Buying Your Car Insurance from InsuranceDekho

At InsuranceDekho, our customers are our top priority. Here are the reasons why you should choose us as your partners in purchasing insurance:

• Certified Broker: InsuranceDekho is a broker certified by IRDAI and has over 8 years of experience in the insurance sector.
• Comprehensive Offerings: We offer insurance for motorcycles, automobiles, term life, health, travel, SME, POSP, and various other types of insurance.
• Trusted by customers: We have a dedicated customer support team that operates 24 hours a day, 7 days a week and has provided insurance for more than 50 lakh vehicles.
• Dedicated Claim Support: We have a dedicated team to support you throughout your claim settlement process.
• Reliable Brand: We are part of the renowned CarDekho group, which has been a key player in the motor and auto industry for over 15 years.

Price

The premium rates for third-party insurance are determined by the cubic capacity of the engines. These rates are standardised by the Insurance Regulatory and Development Authority of India (IRDAI). These rates will be uniform for all insurers.

For Petrol, Diesel, Hybrid and CNG Vehicles:

For Electric Vehicles:

Documents Required to Buy Kotak Third Party Car Insurance Policy

The following documents are required to purchase Kotak third-party car insurance:

• Registration certificate of your car.
• Any of your identification documents valid for KYC verification ( Aadhar, PAN, voter ID, form 16, or Passport)
• Address Proof
• Driving License of owner
• PAN card
• Previous year can insurance policy (If applicable)

Kotak Third-Party Car Insurance Claim Process

Kotak provides a simple process for filing a claim if you have caused injury or damage to a third party with your vehicle.

How to File a Claim (Step-by-Step Process)

Filing a claim for third-party car insurance in India can be time consuming. It is important for policyholders to stay aware of the proper process of claim which will save them some time. Below is a step-by-step guide to assist you through the procedure:

Step 1 - Register a Complaint or File an FIR

It is important for the third party who have been affected to file an FIR and obtain the chargesheet. As the policyholder, it is important to notify Kotak about the incident by dialling 18002664545 between 8 a.m. and 8 p.m. It is also advisable to gather the contact information of the third party for potential future correspondence.

Step 2 - Registration and Hearing at the Motor Accident Claims Tribunal (MACT)

In cases of road accidents, the Motor Accident Claims Tribunal (MACT) is designated to manage the cases. The role of MACT is to determine compensation for car accidents. Kotak will represent you in all the hearings of the case at MACT.

Step 3 - Hospitalisation Expenses and Third-Party Demise

After hearing from both sides, the MACT brings both parties to an agreed-upon compensation amount. If a third party suffers injury or death, there is no maximum limit on the compensation, but if a property is damaged the compensation cannot exceed 7.5 lakh Rupees.

If the accident results in the hospitalisation or death of a third party, you must file for compensation related to hospitalisation and death benefits. The amount that the deceased's dependents can claim will be determined based on the deceased's income.

Step 4 - Claim Settlement

Once the claim amount is finalised, the claim will be paid by Kotak to the third party.

Documents Required for Third-Party Claim

When submitting a third-party claim, it's important to have the right documents prepared in order to keep the process smooth and fast.

• Duly signed third-party insurance claim form
• Copy of FIR
• Your insurance policy document
• The vehicle's registration certificate copy
• Photographs of the damage caused/ accident

Claim Assistance from InsuranceDekho for Third-Party Claim

You have the option to receive help with your claim through your insurance company or from InsuranceDekho. InsuranceDekho can help you make sure that all your documentation is correct and avoid anything that may lead to failure in claim settlement like delaying intimation of claim. You can contact an advisor at InsuranceDekho who will help you arrange your paperwork and fill out forms. For more details, you can call 7551196989 or send an email to support@insurancedekho.com.

Kotak Third Party Car Insurance Renewals and Cancellations

Renewal Process

Below are the instructions for renewing your Kotak Third-Party car Insurance:

Step 1: Visit InsuranceDekho

Visit the main page of InsuranceDekho's website for car insurance and choose the "support" section. The support section is located at the top of the page.

Step 2: Select Renew Policy

After you click on ‘support’, a drop-down list will appear. Select "Renew Policy" from the options.

Step 3: Log In to your account

Use your registered mobile number to login by entering the OTP.

Step 4: Select Your Policy

Upon accessing your account, you will see all your policies on the screen. Select your Kotak Third Party car insurance from the list that appears.

Step 5: Make Changes and Updates if Any

If there are any changes like address change, fill in the correct details and review.

Step 6: Make Payment

Completing payment is the last step to renew your policy. After reviewing your details, make the payment through any of the given online methods like credit/debit card, UPI, etc. After the payment is successful, you will have access to view and download the policy documents.

Cancellations Process

In order to adhere to the law, every vehicle needs to have third-party insurance. Before you cancel your current policy, it is essential to buy an alternate third-party insurance to make sure there are no gaps in your coverage.

Once you have purchased an alternate policy, contact Kotak customer support by calling the toll-free number or writing an email to request the cancellation of your Kotak Third-Party car insurance. Upon cancellation, you will receive a certificate confirming the cancellation and a refund for the policy will be provided.

Covered Vs Not Covered Under Kotak Third-Party Car Insurance

When buying car insurance, it's important to note what is included and what is not covered in the policy. Below is a list of common inclusions and exclusions of Kotak Third-Party car insurance policy.

Inclusions

• Third-Party Property Damage: Cover is provided to bear the repairing expenses in case the third-party property is damaged due to an accident involving your vehicle. The maximum coverage for third-party property damage is Rs. 7.5 Lakh.
• Third-Party Injury: If your car accidentally injures someone, it is your obligation to provide compensation to the injured third party. Kotak covers these expenses by covering for medical expenses of the injured person. There is no limit to the coverage for third-party injuries.
• Personal Accident Cover: Kotak offers personal accident cover as an add-on to combine with your third-party car insurance. Personal Accident Cover safeguards you by providing cover to the policyholder in case they are injured in a road accident. This cover pays the medical expenses of the policyholder.

Exclusions

• Own Damages: Any damage to your vehicle is not included in a third-party car insurance policy.
• Driving Under the Influence of Alcohol or Drugs: Your claim will be rejected if you are found guilty of driving while under the influence of alcohol or drugs at the time of the accident.
• Theft of Vehicle: The third party insurance policy does not offer coverage if your car is stolen.
• Learning to Drive: When you have a learner's license, a licensed adult must accompany you while driving. If you are involved in an accident while driving alone or in absence of a license holder, you will not be eligible to make a claim.

Factors That Affect Your Third-Party Car Insurance Premium

The IRDAI standardises the pricing of third-party car insurance policies based completely on the car engines’ cubic capacity. As a result, there are no other factors that influence the third-party premium.

How To Calculate Third-party Car Insurance Premiums Online?

The cost of third-party car insurance is fixed for everyone as per IRDAI guidelines. However, if you choose to add add-ons, the prices will increase with each added feature.

InsuranceDekho provides help through various channels. If you require assistance in buying, renewing, or fling claims for your third-party car insurance, please contact our customer support.

• Calling on +91-7551196989
• Emailing at support@insurancedekho.com

You can contact the support team of Kotak by:

• Calling on: 1800 266 4545 (8 a.m. – 8 p.m.)
• Emailing at: care@kotak.com
• Whatsapp on: 7998879988

FAQs

What is Kotak Third-Party Car Insurance?

It's a mandatory insurance policy that covers damages or injuries caused to a third party (person or property) in an accident involving your car.

Is third-party car insurance legally required?

Yes, it's mandatory under the Motor Vehicle Act of India, 1988.

How much does Kotak Third-Party Car Insurance cost?

The premiums are fixed by IRDAI based on the car's engine capacity.

What's the maximum compensation for third-party property damage?

The compensation for property damage is capped at Rs. 7.5 lakh by law.

Does Kotak Third-Party Car Insurance cover damage to my own vehicle?

No, third party insurance policy does not cover any damages caused to your car. It only provides coverage for damages caused to a third party which can be a person or property.

How can I buy Kotak Third-Party Car Insurance?

You can purchase it online through InsuranceDekho or from Kotak's official website.

What documents are required to buy Kotak Third-Party Car Insurance?

You need your car's registration certificate, a government-issued photo ID, address proof, a driving licence, a PAN card, and previous policy papers (if applicable).

How do I file a claim for Kotak Third-Party Car Insurance?

Intimate the claim by calling Kotak customer support team and inform them about the accident in brief. You will be asked to submit a few documents like the claim form, RC of the car, Driving licence of the person driving during the accident, etc. Note that it is important for the affected third party to file an FIR and obtain a charge sheet as it will be proof on the basis of which hearing at the MACT will take place.

Can I add personal accident cover to my third-party policy?

Yes, Kotak offers an optional personal accident cover as an add-on to the third-party policy.

How often do I need to renew my Kotak Third-Party Car Insurance?

For most vehicles, insurances are typically renewed annually. However, for new cars, you can get coverage for three years, eliminating the need for annual renewals.