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Kotak General Insurance

Kotak General Insurance is a 100% subsidiary of India's fastest growing bank; Kotak Mahindra Bank Ltd. Kotak General Insurance was entrenched to provide the service in non life insurance sector in India. The company serves an extensive segment of geographically dispersed customers. It offers wide varieties of non-life products like Motor Insurance, Health Insurance, and other insurance. Its basic priority is quality service and innovation. Kotak Mahindra group has a strong national footprint with close to 1300 branches and 1200 ATMS in around 640 locations.

Kotak General Insurance offers the customized products to customers for satisfying their different and specific needs. The customer deals with us can enjoy the benefit of art technology and digital infrastructure.

Key Highlights of Kotak General Insurance
  • Efficient management team
  • Customized products
  • Digitally enabled processes
  • Efficient claims handling

Kotak Car Insurance at a Glance
  • Kotak General Insurance provides customized plans
  • Kotak’s strong network of 3500 garages allows you to enjoy hassle free cashless servicing across the country.
  • No Claim Bonus and entitlements
  • Premium Discounts
  • AAI Members discount

Documentation needed to apply for Kotak Car Insurance
  • Completely filled covernote / application form with contact numbers
  • Name of insured person
  • Vehicle number
  • Make and model of the vehicle
  • Identification card
  • Copy of RC book if any
  • Copy of previous insurance ( for renewal)

Kotak Car Insurance plans at a glance
  • Car Insurance plan

Kotak Car Insurance Plans
Plan Name Benefits
Car Insurance
  • Provides damage cover due to natural calamities such as fire explosion, self-ignition/lightning, earthquake, cyclone, landslide, flood, storm etc, or manmade calamities such as burglary, theft, riot, strike terrorist activity, malicious activity etc
  • Cashless Servicing
  • Optional add-ons like Roadside Assistance, Depreciation Cover, Consumable Cover, Engine Protect and Return to invoice.
  • No claim bonus, Discounts and Entitlements
  • Premium discounts
  • Additional discounts for AAI members
  • Personal accident cover
  • Third Party legal liability
  • Cover for any Partial or total loss or damage to the vehicle

Kotak Car Insurance has some major exclusion in the policy.
It uncovered the loss/damage to the vehicle/accessory/accessories, these are
  • Normal wear and tear, general aging of the vehicle.
  • Vehicle being used contrary to limitations as to use
  • Mechanical and electrical breakdown
  • Any contractual liability
  • Damage to and by a person driving the vehicle under the influence of drugs or liquor.
  • Damage to and by a person driving the vehicle without a valid license
  • Damage due to nuclear risk or war

Claim Process for Kotak Car Insurance (Step wise) for cashless service
Step Description
1: Register claim by phoning in 1800 266 4545(8am -8pm) with the details of your policy.
2: Submit the necessary documents like driving license, RC copy and Police FIR copy.

FIR to be filed in the same location where the third party injury/death/property damage has occurred.
3: Inspection will be arranged in 24 hours, if a claim reported on a working day.
4: The vehicle can be repaired at a preferred network garage, and the payment will be made directly to the garage.
5: You will only be required to the deductible amount as mentioned in the policy.
6: Vehicle delivery

Claim Process for Kotak Car Insurance (Step wise) for reimbursement service
Step Description
1: Register claim by phoning in 1800 266 4545(8am -8pm) with the details of your policy.
2: Submit the necessary documents with your policy details to us and the company will make the payment within 7 working days of completion of documentation.

Kotak Car Insurance –FAQs
1. What is Roadside Assistance?
In Roadside assistance service, you will get necessary help if incase you get stuck on the road when your car breaks down. It includes
  • Towing due to accident or breakdown
  • Battery jump start
  • Arrangement/supply of fuel
  • Empty of fuel tank
  • Breakdown support over phone
  • Taxi benefits
  • Flat tyres
2. What is IDV?
The Insured's declared value is the maximum fixed sum assured of insured vehicle after adjusting depreciation against the manufacturer’s list price. If the insured vehicle suffers total loss, the IDV will be compensated to the policy holder.

3. How IDV is calculated?
The IDV of the vehicle is fixed on the basis of manufacturer's listed selling price of the brand and the model of the vehicle. And it gets depreciated every year. On the basis of depreciation rate IDV is calculated.

The rates of depreciation for fixing IDV are:

Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%

4. What is an endorsement?
An insurance endorsement may be used to add, delete, exclude or change. It is written evidence of an agreed change in policy terms.

5. What is the validity period of Insurance cover?
Typically, general insurance policy is for a period of one year.

6. What all included in third party covers?
Third party property damage due to an accident
Bodily injury (including death) due to an accident

7. What comes under comprehensive cover?
It covers all electrical and non electrical accessories including bi-fuel system. And Indian Car tariff endorsement, if availed by paying additional premium.