Out of many insurance companies available in India, Kotak Mahindra General Insurance Company is popular for its user-friendly services. The insurance company also has insurance plans for third-party liability that provide coverage for property damage, accidental injury, disability, or death of a third party due to an accident caused by the insured car. So, by purchasing the Kotak Mahindra Car insurance, you can cover the liabilities. The best thing about this insurance plan is that it is ideal for private cars, as well as commercial vehicles.
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Benefits of Kotak Mahindra Third Party Car Insurance
The benefits of this third-party car insurance plan are as follows.
- The third-party car insurance policy provides coverage for legal liabilities of the third party due to accidental disability or death.
- It covers the accidental injuries of the third party due to the insured car.
- The Kotak Mahindra third party car insurance plan offers coverage for property damage of a third party in an accident.
- It is available to buy for every vehicle owner with ease.
- This third-party car insurance plan comes with a personal accident cover for the driver or owner of the car.
- The claim settlement process of this insurance plan is very fast.
What is the Claim Process of Kotak Mahindra Third Party Car Insurance?
As mentioned above, the claim process of Kotak Mahindra third-party car insurance is quicker and easier. Here are the details of the claim settlement process of this insurance plan.
- Unlike the comprehensive car insurance policy, third-party insurancedoesn’t include the expenses of own damage. However, if the other party has third-party car insurance, you can claim the damages under the third-party property damage.
- In case of an accident, first, you will need to inform the insurance company.
- The company will appoint a surveyor to survey the vehicle. After the survey, the surveyor will send the report to the company.
- In case there is a death or disability to the third party, you will need to register a case in the police station and get the charge sheet.
- Then, you can file a case by conveying the motor accident claims tribunal.
- The court will verify the evidence and listen to both parties.
- Then, the liability amount will be decided by the court, and the insurance company will pay that amount as per the policy terms.
This way, you can raise a claim under this insurance plan. Also, you may need to hire a layer to place your side in the court.
Frequently Asked Questions
Ans: The maximum amount provided for third-party property damage is 7.5 lakh rupees. In case of loss of life of the third party, the full sum insured amount is provided by the insurance company. But if the third-party liabilities are more than this, the policyholder needs to pay them.
Ans: Usually, the company provides 60 days for the claim settlement of third-party car insurance. If a case is filed in court, it may take more time to get the decision of the court. Therefore, it is a better idea to settle the claim outside of the court by mutual understanding if both parties agree.
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