Kotak Mahindra Car Insurance

Your responsibility doesn’t end at buying a new car; even the actual responsibility starts after that. A car while on the road is exposed to a plethora of risks, which need your attention. A small scratch can lead to a huge financial strain in case of a luxury car. Therefore, having insured your vehicle is essential to avoid those unexpected expenses. In this regard, Car insurance by Kotak Mahindra General Insurance Co. Ltd. can be an ideal option!

Named as Kotak Car Secure, this insurance policy offers optimum protection to the insured vehicle by covering it for own damage, third party liability damage, personal accident, including accessories. Moreover, this can be clubbed with a range of add-on covers such as Zero Depreciation, Road Side Assistance, Engine Protection cover etc. let’s have a detailed look at Kotak Mahindra car insurance.

Benefits & Features

Kotak Mahindra car insurance comes with the following benefits and features.

  • Kotak Mahindra car insurance comes with comprehensive coverage
  • Covers third party liabilities as well
  • Instant policy renewal is possible by opting for Kotak Mahindra Car Insurance online insurance
  • Less paperwork while claiming Kotak Mahindra car insurance
  • All-the-round assistance
  • Prompt claim registration
  • Discounts like NCB Bonus, Voluntary deductible etc. can be availed
  • Policy portability is possible

Why buy Car Insurance from Kotak Mahindra

Kotak Mahindra car insurance is one of the most sought after products in the market, due to its customer-friendly and easy-to-avail approach. Here’s why you should buy car insurance from Kotak Mahindra General Insurance Co. Ltd.:

  • The insurer is 100 % subsidiary of Kotak Mahindra Bank Ltd. which is one of the leading private sector banks in India. Given that, the authenticity of the insurer is well assured.
  • Car insurance policy offered by Kotak Mahindra General Insurance Co. Ltd. comes with additional discounts, apart from the basic coverage
  • The plan can be customized by opting for add-ons.
  • The plan is comprehensive in nature, where round-the-clock assistance can be availed.
  • Cashless services can be availed at network garages throughout India

Types Kotak Mahindra Car Insurance

Under Kotak Mahindra Car Insurance policy two types of coverage are offered towards private cars:

  • Third Party Insurance
  • Comprehensive Insurance

Kotak Mahindra Third Party Liability Insurance

This is the most basic cover, which is mandatory to have in India as per the Motor Vehicles Act, 1988. Under Kotak Mahindra car insurance with liability coverage, the insurer compensates the policyholder for the loss or damage caused to the other party involved in the accident or in case of a liability arising out of accidental injury, property damage or death to a third party. However, this policy doesn’t cover the insured vehicle. Hence, this becomes inadequate, where you have an option to buy a policy, which is more comprehensive in nature.

Kotak Mahindra Comprehensive Cover or own Damage Cover

With car accidents are at the rise, this poses a threat to the lives of those who own it, the fellow drivers, the passengers and the people on road. Here’s why only having third party insurance is not sufficient. You need a comprehensive cover that also protects you as well as the other party. Here comes Kotak Mahindra Car Insurance with comprehensive cover. Though this is an optional cover, it is highly recommended by the experts as it covers the insured vehicle for damages due to natural disasters such as fire, lightning, flood, hurricane, storm, self-ignition, cyclone, tempest etc. Kotak Mahindra car insurance with comprehensive coverage also includes man-made calamities such as riot, strike, terrorist activities, damage while transit by road, air and waterway, lift, elevator etc. This policy comes with a benefit covering the third party liability expenses arising out of accidental damage, injury or death of a third party.

Kotak Mahindra Car Insurance Inclusions

The insurer will compensate the insured for the loss or damage to the insured vehicle and well as the third party liability, arising out of-

  • Theft and burglary
  • Fire, self-ignition, lightning
  • Earthquake, flood storm, tempest, typhoon, hailstorm, cyclone etc.
  • Malicious acts such as riot, strike and terrorist activity
  • Accident by external means leading to damage to the vehicle or passenger
  • Personal accident cover for the owner-driver while driving, mounting into and demounting for
  • Personal accident cover to the co-passengers
  • Third party liability expenses including property damage, injury disability and death of a third party

Kotak Mahindra Car Insurance Exclusions

When the insurer tries to cover almost every related perils, the below conditions are just not feasible. Here’s where your Kotak Mahindra car insurance policy remains unresponsive:

  • Normal wear and tear leading to depreciation
  • Any consequential loss
  • If the insured vehicle is being used for another purpose than private
  • If the driver doesn’t carry a valid driving license while driving
  • General ageing of the car
  • Mechanical or technical breakdown of the car
  • Liability that is contractual
  • Accident occurs when the vehicle was driven under the influence of alcohol or drugs
  • Damage occurred due to war or warlike the situation or use of a nuclear weapon
  • Injury or damage for participating in adventitious sports,

Kotak Mahindra Car Insurance Additional Benefits

To aid you with an increased policy coverage, the insurer offers a range of add-on covers such as:

  • Roadside Assistance
  • Consumables Cover
  • Depreciation Cover
  • Engine Protect
  • NCB Protector

To know more, you can refer to the policy document.

How is IDV Derived for Kotak Mahindra Car Insurance?

In car insurance phraseology, IDV stands for the actual value of the insured car. This is the maximum amount your insurer pays in case of a partial or total loss. That means, if the insured vehicle is lost or damaged beyond repair, the amount that is liable to receive for the insurer’s end is equivalent to the IDV of the value at that time.

So, it is very important to know from policyholder’s point of view, who decides the IDV?

The IDV is decided at the time of policy initiation by following the formula:

The current market value of the car minus the depreciation price on the parts. However, the registration cost and insurance premium are excluded here. In case the accessories are to company-fitted, the cost of these is calculated separately.

As you already know the value of your car gets depreciated with time. With every passing day, the vehicle condition is not the same as it was at the time of buying. Even when it is out from the showroom, the value depreciates by 5%. Based on the depreciation percentage, the insurer decides the IDV of your car. Let’s check how a car depreciates its value over the time:

Age of the Vehicle

Depreciation (%)

Up to 6 months

5

6 months but not more than 1 year

15

1 year but not more than 2 years

20

2 year but not more than 3 years

30

3 year but not more than 4 years

40

4 year but not more than 5 years

50

More than 5 years

on mutual agreement between the insurer and the insured


Thus, the insurer comes up with the IDV and premium of your Kotak Mahindra car insurance.

Kotak Mahindra Car Insurance Claim

Kotak Mahindra car insurance ensures a seamless claim process if you approach it in the right way. Car insurance offered by Kotak Mahindra Car Insurance can be claimed under the Cashless and Reimbursement clause. In order to ensure a smooth claim with the insurer, follow the below claim steps:

  • Step 1: The first step is to inform the insurer immediately. Register a claim by intimating about the incident and ask for a claim form. The claim assistance executive will guide you through the process.
  • Step 2: The second step is to send the vehicle for inspection. A surveyor from the insurance company will investigate the loss and estimate the damage. Don’t forget to carry the relevant documents that need to be handover to the surveyor. The associated deductibles have to be paid directly by you before taking the repaired vehicle home.
  • Step 3: If it is a cashless claim, the expenses will be directly settled with the workshop, after the surveyor submits its report and insurer verify the documents. In case of a reimbursement claim, the expenses have to be paid by you initially and claim for the same later. You’ll require the original repair invoice to be submitted along with the claim form.

Documents Required for Claims

The essentials documents are required in support of your Kotak Mahindra car insurance claim:

  • Duly filled and signed claim form
  • Police FIR copy, in case of accident or theft claim
  • Registration Certificate
  • Vehicle insurance document
  • Valid driving license
  • Total repair bill and discharge voucher signed by you

How to Calculate Kotak Mahindra Car Insurance Premium?

The car insurance premium is decided based on certain parameters. The insurer takes into account certain factors at the time of calculating premium, the most significant one include:

Car Make & Model

Car insurance premium depends on the type of model you own. It includes car make, model, transmission type fuel type etc. The higher your model is, the higher would be the premium you pay. Let’s say a car model of Mercedes Benz will have a costly premium as compared to Suzuki. So, choose your car model wisely.

Type of Cover

It is always based on the type of cover you choose. You pay comparatively a less premium if you own third party cover only. But if you own a comprehensive one, the premiums are always on a higher side. It again goes up, if you opt for additional coverage such as zero depreciation, roadside assistance or something like that. That’s why it is essential to analyse your requirements first, then buy. Because you may not require comprehensive insurance for your more than 5 years old vehicle. So, buying comprehensive insurance and paying a higher premium doesn’t make sense here.

Age of the Vehicle

The premium goes up for a newly bought vehicle as the IDV seems to be higher. The IDV indicates the value of your vehicle. Higher the IDV, higher will be the premium.

Location of Registration

Based on the location where the car is registered, your insurance premium will be calculated. A car registered in a small city is less prone to risk as compared to one that is registered in a metro city. Based on the risk it is exposed to, the insurer decides the premium.

IDV and Car Insurance Premium

Car IDV is directly proportional to the insurance premium of the car. The premium for an older car reduces with depreciation, as there is no point of insuring a vehicle with lower IDV at a higher cost because you won’t be highly reimbursed at the time of claim.

How to Compare Kotak Mahindra Car Insurance

When it comes to buying the right policy, comparison always comes first. You must be wondering how comparison help cracking the right deal. Well, by ensuring the comparison in the right way, you can surely land on the right car insurance policy, provided you keep the below things in mind while comparing Kotak Mahindra car insurance:

  • Compare the Plans based on Your Insurance Needs: Car insurance price is directly proportional to your needs and the cover you choose.  Hence, the policy comes with a cheap premium may not fulfil your requirements as it limits you in many ways. It’s better to compare the plans as per your insurance needs and buy.
  • Compare the Insurance Company: One of the most important things to consider while comparing is the background of the insurance company. Make sure you buy a policy from one of the best car insurance companies with no record of bankruptcy and a good claim settlement ratio.
  • IDV: IDV is the current market value of our vehicle and the different insurer may come with different IDV for the vehicle. So, always compare on this ground and settle for the one that offers the best IDV for your prized possession.
  • No Claim Bonus: You should compare based on the NCB benefit offered by the insurer. No Claim Bonus is offered for not claiming the insurance which ranges from 20% to a maximum of 50%. Settle with the company or plan that pays the higher NCB or offers NCB. In the case of Kotak Mahindra car insurance, you can transfer the accumulated NCB with your previous insurer at the time of porting.

How to Purchase Kotak Car Insurance Online?

Buying Kotak Mahindra car insurance is very simple. In the advent of the internet, buying insurance is not a big deal these days.

  • Just visit the official website of Kotak Mahindra General Insurance Co. Ltd.:
  • Go to the ‘Get Quotation’ option on the car insurance page
  • Fill the required details about your vehicle such as vehicle registration number, make and model etc.
  • Provide your personal details
  • Calculate the premium and pay the premium online

You’ll receive instant approval on the payment and the policy document will be sent to your registered email Id.

How to Renew Kotak Mahindra Car Insurance?

When it’s the matter of availing policy benefits continuously, renewing Kotak Mahindra car insurance on time matters. Kotak Mahindra Car Insurance ensures seamless policy renewal with online insurance, where you can renew the policy in a hassle-free manner. Just visit the official website and navigate through the ‘renew’ option. Select the policy and provide the relevant information. Calculate the premium and pay it online. Get the instant message on policy renewal and stay protected. You can approach the insurer offline by visiting the nearest branch and pay the premiums via cheque or cash.

Renewal is the best time to review the policy. As your requirement tends to change, you may feel the coverage offered under Kotak Mahindra car insurance insufficient after a continuous renewal for two years. Now you may feel to ask for some additional coverage or lower the premium etc. such type of changes can be done at the time of renewal only by making a written request to the insured.

Things to know about Kotak Mahindra Car Insurance

Apart from the basic coverage, the policy also offers additional benefits such as:

  • NCB benefit up to a maximum of 50%
  • AAI Membership discount on renewal
  • Network Garage Locator online
  • NCB Transfer benefit
  • Cashless services at network garages across India

Kotak Mahindra Car Insurance - FAQs

  • Q: 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 car insurance premium. As it is based on the car age and depreciation, the premium is higher for a vehicle with high IDV or vice versa. In case of total loss or damage, the insurer pays up to the IDV of your vehicle. Hence, it plays an important role in your car insurance policy.
  • Q: What are the risks covered under my Third Party Policy?

    Ans: Third party insurance 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
    • Accidental death or injury to a third party
    • Damage to third party property
  • Q: What is a cashless benefit in car insurance?

    Ans: Cashless facility means where the insured can avail the services free of cost by just paying the depreciation and deductible only. Even with a zero depreciation cover, one can avail the full IDV. Cashless services can avail only at a network garage of the insurer, where the claim is settled by paying the expenses directly to the garage. A vehicle inspection is done from the insurer’s end, based on which report, the insurance company pays for the damages.
  • Q: What is the tenure of my car insurance policy?

    Ans: Usually, car insurance policy comes with one-year tenure. However, the insurers have started introducing long-term policies as well. Even the recent announcement of IRDA, now the new car owners have to buy car insurance for at least for 3 years.
  • Q: Where do I find the model or variant information about my newly bought car?

    Ans: To know your car model and variant, refer your Registration Card details which contain the car make and model, registration date, manufacturing date and so on.
  • Q: What is RTO location?

    Ans: RTO stands for Regional Transport Office where every car of a particular location is registered. With this registration, no car is allowed to drive. Let’s say if your car is registered in Gurgaon, your RTO location will be Gurgaon.
  • Q: What happens if the car registration city and city of usage are different?

    Ans: In order to case an accurate premium, the insurer 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.
  • Q: How does residential location impact my car insurance premium?

    Ans: The car insurance premium is decided based on certain factors. Location of registration is one of them. The car registered in a metro city always tend to has a higher premium. As in the small cities, road risks are lower, the premium also tends to be on a lower side.
  • Q: Can I avail a quote even if my car is not registered yet?

    Ans: It is possible to avail quote from Kotak Mahindra Car Insurance 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 availing Kotak Mahindra car insurance, getting your car registered is mandatory.
  • Q: I have heard a vehicle inspection will do before the policy issuance. Is it necessary?

    Ans: A vehicle inspection is required in case your car insurance is expired. The inspection helps the insured to identify damage if any. This in return helps to initiate a fast claim without a hassle, further.
  • Q: Can I change car 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 insurer as a change may impact your premium as well.
  • Q: How is the car inspection process initiated?

    Ans: In order to inspect a car in case of Kotak Mahindra car insurance claim, the concerned customer care executive will arrange for a time and date. The schedule is made as per your convenience and availability.
Written By: PolicyBazaar - Updated: 11 October 2020
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Calculate your car IDV
IDV of your vehicle
Calculate IDV
Calculate Again

Note: This is your car’s recommended IDV as per IRDAI’s depreciation guidelines.asdfsad However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.Read More

Policybazaar lets you compare premium prices from 20+ Insurers!
Compare Prices
Average Rating
(Based on 32 Reviews)

Kotak Mahindra Car Insurance Reviews & Ratings

4.8 / 5 (Based on 32 Reviews)
(Showing Newest 25 reviews)
Atul
Gadag, July 10, 2020
Avail the quotes online
It is very much easy to avail the quotes of the car insurance online. Just visit the website of policybazaar and put the details. After doing it you will get the quotes and the plans of the car policy. Much easy and hassle free. Thanks Kotak Mahindra for such great plans.
Yashesh
Baghpat, July 09, 2020
Customer service assistance
Kotak Mahindra Car Insurance has one of the best customer support teams. They are exceptionally well trained and have the answers to all your queries/concerns. 24x7 support makes them even wonderful to opt for. Thank you Policybazaar, I will be in your debt to help me opt for what others only dream of.
Vaibhav
Adkur, July 09, 2020
Less premium prices
I found the Kotak Mahindra an appropriate company for the car insurance policy. As, the product which I bought is very convenient and less expensive as compared to the others. The premium rate is affordable as they are providing the extra features to their customers like roadside assistance, towing facilities etc. Great services.
Raghu
Lahul And Spiti, July 09, 2020
Compare the plans online
It is easy to get the car insurance policy when you have the good website. I got to know about Kotak Mahindra on policybazaar portal. It was very much easy and I selected it online. There were varieties of plans. But I like the kotak one because of good features, add on covers and also the premium rate was according to my budget. I compared online and found the best one. Thanks team.
Raghu
Lahul And Spiti, July 09, 2020
Compare the plans online
It is easy to get the car insurance policy when you have the good website. I got to know about Kotak Mahindra on policybazaar portal. It was very much easy and I selected it online. There were varieties of plans. But I like the kotak one because of good features, add on covers and also the premium rate was according to my budget. I compared online and found the best one. Thanks team.
Adish
Sabarkantha, July 09, 2020
No Claim Bonus
NCB is something that not everybody is aware of, and if there is any change of even 1% that will temper your insurance while having the claim or renewing the policy. But Kotak Mahindra Car Insurance is the only company which helps & guides you mentioning the right NCB while renewing the policy. I am glad that Policybazaar suggested me to choose the best for my insurance needs.
Naresh
Jagannathpu, July 07, 2020
Additional benefits
I purchased the car insurance policy from policybazaar and that was of the Kotak Mahindra company. It is a nice plan and after researching more I got to know about the additional benefits related to the same. I got the additional benefit of roadside assistance, depreciation cover, NCB protector and so on. It is an amazing plan with features. Thanks team kotak Mahindra and policybazaar.
Kalpesh
Jabalpur, July 07, 2020
Best services in the insurance industry
Kotak Mahindra Car insurance is the best service provider in the insurance industry. Whether it's documentation, claim, customer support, roadside accidental assistance, these people excel in all of these. The best choice I made to visit Policybazaar & they suggested me to go for Kotak Mahindra.
Anil
Hagaribommanahalli, July 06, 2020
Natural calamities cover
Kotak Mahindra Car insurance is one of those few insurance companies that provide you helps you with the claim from natural calamities. I am happy to get associated with you. Thank you Policybazaar for helping me chooses the best out of all.
Gaurav
N.e.khawdungsei, July 06, 2020
Man-made disaster
One of my friend suggested me the kotak Mahindra car insurance policy. It is really nice as he told me the features regarding the same. His policy covers the man-made disasters such as accidents, riots, curfews, loss of the car and the theft related activities. If any of these problem does occur then it will be taken care by kotak team.I really like the plan and planning to purchase the same.
Jayesh
Vadakara, July 03, 2020
Third party insurance policy
I recently got the third party insurance policy from kotak Mahindra from policybazaar website. I bought the third party because it provides the assistance as in financial and legal procedures. In third party insurance policy it takes care of the my car damages as well as my hospitalization bills and also the third party car’s damages and their bills. So, that I won’t bear any kind of losses or problems at that time. This policy is a saviour for me and for my car. Thanks team.
Mihir
Dabhoda, July 03, 2020
Claim assistance
I got my claim done from Kotak Mahindra. I bought the car insurance policy from Kotak Mahindra from the website of Policybazaar. The company is really nice and also recently I got my claim done from them on immediate basis. My car was sent to the network garage and I got the cashless claim from them over my bank account. It was a great experience. Thanks team.
Garud
Dabhoda, July 02, 2020
24*7 assistance
I really like the services of the kotak Mahindra as I purchased the car insurance policy from them from the website of the policybazaar. I get the best assistance from them and if I really want to consult them at any point of time then I can call or message them in 24*7. They provide the customer care assistance for 24*7. It is quick and hassle free.
Tarun
Calicut, July 02, 2020
Less paper work
I really like to buy the car insurance policy online. Because it is very much convenient in nature. Also, I got the best car plan on online basis. It was of Kotak Mahindra car insurance policy. No paper work is required and you just have to submit your documents on online basis. A great plan with several benefits and add on covers. Thanks to team poliybazaar and kotak.
Ashok
P.s.murli, July 01, 2020
Helps from unexpected problems
My car insurance policy helps me and saves me from various unexpected problems and hurdles. Such as accidents, theft, loss of a car or damage made to the car. And along with those certain unexpected expenses comes over. Kotak Mahindra car insurance helps the insurance bearer to save himself from certain problems.
Arun
Ichalkaranji, July 01, 2020
Car protection and coverage
I recently planned to take the car insurance policy from Policybazaar as I trust that company a lot. They told me about various plans and policies but I like the best one of Kotak Mahindra. It is a great plan which is quite helpful for the car’s protection and coverage. At less premium price I got the best In class car coverage. Thank you team.
Mihika
H D Kote, June 30, 2020
Claim done swiftly
It was a good way to get the best experience and customer assistance from policybazaar and Kotak Mahindra team. I got my claim on time within 3-4 days and they helped me sending my car to the nearest network garage. I like the way they treat their customers in the best manner. Great work.
Mahesh
Vadakara, June 30, 2020
EMI services available
I opted for a car insurance policy from POlicybazaar and Kotak Mahindra. I made the payment on online basis and it was easy to do. Also, it is very much transparent in nature. I got an opportunity of making my payment in the form of EMI and it is really good. The EMI payment system is much better and it helps you to manage the finances. Kudos to the team.
Tarang
R.g.pur, June 29, 2020
Customer service
The customer service team of policybazaar and kotak Mahindra is quite good. I was having a problem related to my car insurance policy and there was some mistake into my car policy. The customer service team is quite friendly and genuine and they helped me in resolving my concern in next few hours. Thanks team for such great support.
Archana
Kochi, June 29, 2020
Add on covers
I got my car insurance policy from Policybazaar and Kotak Mahindra and I got a very good plus beneficial policy for my car. It was an easy process to get the car insurance policy. Also, I got some of the add on covers along with my policy. The add on cover is of personal accident. And it will cover the liabilities of the driver. Thank you team for such better assistance.
Pakhi
Faizabad, June 26, 2020
Compare and save the money
I got my car insurance policy from Policybazaar.com. And they recommended me the plan of Kotak Mhaindra. Though before taking the car insurance plan I checked out the whole website of Policybazaar very clearly and compared lot many plans with respect to Premium price, features, add on covers etc. The kotak plan which I got is really nice and cost-efficient. Thanks a lot to team policybazaar and kotak Mahindra for such great experience.
Kunal
G.k. Bhatar, June 26, 2020
Man-made disaster coverage
I have taken the car insurance policy from Poliybazaar. I have taken the car insurance policy of kotak Mahindra and it is a good company. It was my good decision to get my car insured from the same. As my car insurance policy covers the man-made disasters like curfew, riots, accident, theft and loss of the car. It is really easy to claim for the car as the kotak Mahindra is quick to settle the same. Great work team.
Pakhi
Faizabad, June 26, 2020
Compare and save the money
I got my car insurance policy from Policybazaar.com. And they recommended me the plan of Kotak Mhaindra. Though before taking the car insurance plan I checked out the whole website of Policybazaar very clearly and compared lot many plans with respect to Premium price, features, add on covers etc. The kotak plan which I got is really nice and cost-efficient. Thanks a lot to team policybazaar and kotak Mahindra for such great experience.
Reena
Habra, June 25, 2020
Claim facilities promptly available
It is good to know that the company which you have been associated with is quite nice and beneficial for the customer. Yes, I recently got my car claim from Kotak Mahindra. My car met with an accident and I filed for a claim from them. My car was sent to the network garage near to my place and all repair work was done in 6-7 days. Also, I got my claim money into my bank account. It was real quick and hassle free.
Vasudev
Yamunanagar, June 25, 2020
Less paper work and more facilities
I got the car insurance policy for my car from Kotak Mahindra. It is a great company which provided me best in class car policy and services too. I got the policy online via the website of Policybazaar. Everything was done online basis. It was very quick and easy to do. No paper documents were required. Along with certain facilities I got the various benefits with my car insurance policy.