Kotak Mahindra Car Insurance

Kotak Mahindra Car Insurance: Add-ons

To aid you with increased policy coverage, Kotak Mahindra car insurance offers a range of add-on covers such as:

• Roadside Assistance Cover

  This add-on cover offers roadside assistance to the policyholder in case the insured car gets stuck somewhere on the road. It also arranges for towing services to the nearest network garage if the car stops moving in the middle of a road.

• Consumables Cover

  The Consumable add-on covers the insured car for the cost of replaced consumables like screws, nuts, oil filters, etc.

• Kotak Meter Switch On/Switch Off Cover

  This add-on lets you switch off your OD cover when not using the car. It offers a discount on next year's policy renewal premium. If you don't drive your car frequently, you can switch off the button through the Policybazaar app and save on next year's renewal. 

  The discount on own damage is based on the reward days as mentioned below:

  Reward Days	Discount on accident cover (OD cover)
  20 - 60	15%
  61 - 120	25%
  121 - above	40%

  Moreover, if you have switched off the OD cover continuously for 24 hours, you will be rewarded with 1 bonus day. The discount will not be given if you make any claim for your OD (accident) cover during a policy year.

• Depreciation Cover

  This add-on covers an insured against depreciation borne by the insured car. All metal and plastic parts are fully covered, whereas tyres, batteries and tubes are covered at 50% under this add-on cover.

• Engine Protect Cover

  The Engine Protect add-on offers coverage against any damage sustained by the engine and gearbox in case of lubricant leakage or water ingression in the insured car.

• NCB Protector

  NCB Protector cover allows you to retain your NCB discount even after you register a claim in your previous policy.

• Tyre Cover

  The Tyre cover add-on covers the insured against the cost of repair/replacement of tyres and tubes of the insured car.

• Loss of Personal Belongings Cover

  This add-on cover provides coverage for the loss or damage of personal belongings kept in the insured car. However, the policyholder will have to pay Rs. 250 as deductible towards every claim made under this cover.

• Key Replacement Cover

  The Key Replacement add-on will cover the policyholder against the cost of repair/replacement of the insured car keys, including labour costs, if the original keys are lost, stolen or damaged.

• Daily Car Allowance Cover

  Under this add-on cover, the insurance company will pay a car allowance to the policyholder for the cost incurred in hiring a transport if the insured car is getting repaired for damages.

• Return to Invoice Cover

  Under this add-on cover, the insurance company will pay the policyholder the difference between the Insured’s Declared Value (IDV) and the purchase invoice price of the insured car in the event of a total loss or theft of the insured vehicle.

 FAQs

• Q1: Why is IDV important in car insurance?

  Ans: The Insured's Declared Value stands for the current market value of your vehicle. The IDV is decided at the beginning of a car insurance policy, which directly influences your car insurance premium. As it is based on the car age and depreciation, the premium is higher for a vehicle with high IDV and vice versa. In case of a total loss or damage, the insurer pays up to the IDV of your vehicle. Hence, IDV plays an important role in your car insurance policy.

• Q2: What are the risks covered under my Kotak Mahindra Third-Party Policy?

  Ans: Third-party car insurance policy is a very basic kind of car insurance, which actually covers the liabilities towards third party arising for:

  • Legal expenses arising out of accidental injury
  • Accidental property damage
  • Accidental death or disability
  • Damage to third party car

• Q3: What is a cashless facility in Kotak Mahindra car insurance?

  Ans: Under the cashless facility of Kotak Mahindra four wheeler insurance, the policyholder can avail the car-repairing services free of cost by just paying the depreciation and deductible. With a zero depreciation cover, the car owner can avail the full IDV. However, cashless services can only be availed at a network garage of the insurance company, where the insurer settles the claim amount by paying the expenses directly to the garage.

• Q4: What is the tenure of my Kotak Mahindra car insurance policy?

  Ans: Usually, a car insurance policy comes with one-year tenure. However, the Kotak Mahindra General Insurance Company also offers long-term car insurance policies. This is especially useful for new car owners who need to mandatorily buy third-party car insurance for at least 3 years under the latest IRDAI guidelines.

• Q5: Where do I find the model or variant information about my newly bought car?

  Ans: To know your car model and variant details, refer to your car registration card, which contains details on the car make and model, registration date, manufacturing date and so on.

• Q6: What is an RTO location?

  Ans: RTO stands for Regional Transport Office where every car of a particular location is registered. Without this registration, no car is allowed to drive. Let’s say if your car is registered in Gurgaon, your RTO location will be Gurgaon.

• Q7: What happens if the car registration city and city of usage are different?

  Ans: In order to ascertain an accurate premium, the insurance company has to be provided with the exact location of where the car is registered. So, if your car is registered in another city and is being used in another city, you need to register with the concerned RTO of that location.

• Q8: How does residential location impact my car insurance premium?

  Ans: The car insurance premium is decided based on certain factors. Location of car registration is one of them. A car registered in a metro city always tends to have a higher premium because of a higher probability of road accidents. As in the small cities, road risks are lower, hence, the premium also tends to be less.

• Q9: Can I avail an insurance quote even if my car is not registered yet?

  Ans: It is possible to avail quote from Kotak Mahindra Car Insurance online when your car is not registered. The insurer sends a suitable quote for your vehicle with premium details based on the invoice date of your car. However, to buy a Kotak Mahindra car insurance plan, getting your car registered is mandatory.

• Q 10: Is vehicle inspection before policy issuance is necessary?

  Ans: A vehicle inspection is required in case your car insurance policy has lapsed. The inspection helps the insurance company to identify damages if any. This, in return, helps to initiate a fast claim without any hassle.

• Q11: Can I change my car’s IDV?

  Ans: Yes, you can change the IDV under Kotak Mahindra car insurance up to a maximum of 10%. However, it is recommended to go with the options suggested by the insurance company as a change in IDV may impact your premium adversely.

• Q12: How is the car inspection process initiated?

  Ans: In order to initiate a car inspection in case of a Kotak Mahindra car insurance claim, you need to get in touch with the customer care team of the insurance company. The concerned customer care executive will arrange for a time and date of the inspection. The schedule is decided as per your convenience and availability.