Let’s understand the whole depreciation process. Suppose John has met with a bad accident leading to literal damage to the car and the only coverage plan he has is the normal insurance policy. Now when he puts in the ask for the claim, his insurance provider will calculate how much has to be paid back as a claim. Now since the car is 6 years old, some parts of the amount will be cut as a depreciation took place. Because of this undesirable need of covering up for depreciation value, he bought Kotak Mahindra zero depreciation car insurance, which gave a coverage for part of expenses involved in depreciation.
Benefits of Kotak Mahindra zero depreciation car insurance
Kotak Mahindra zero depreciation car insurance comes with a wide range of benefits;
- Kotak Mahindra zero depreciation car insurance aims to offer its customers a wide coverage range with cashless services.
- Kotak Mahindra's zero depreciation car insurance helps people claim their policy with less paperwork.
- Policy renewal with Kotak Mahindra's zero depreciation car insurance plans is instant and easy.
- An interesting fact, apart from normal other car parts, Kotak Mahindra's zero depreciation car insurance offers coverage for rubber parts in the car as well at 100%.
So if you have a new car, luxury car, car with expensive body parts, or maybe you are a bad driver, you should go for Kotak Mahindra zero depreciation car insurance as apart from adding zero depreciation rider to your regular policy and saving your pocket of hefty out- of pocket expenses, you get other benefits too.
Kotak Mahindra Zero Depreciation Car Insurance Claim Process
The first step to start- off your claim request would be to submit a claim form along with the details of your policy. You can also refer to Kotak car insurance toll-free number 18002664545 for the same.
If the claim process is to be cashless, all the verification and agreement would be done at the favored network garage.
If it’s a reimbursement claim, you have to first get your car repaired and settle the costs. Within a week you can expect your payment to be done for reimbursement.
Kotak Mahindra Zero Depreciation Car Insurance FAQs
Ans: Yes, usually zero depreciation insurance policies are directed towards new cars or the cars that are not more than 5 years old.
Ans: Yes, there is a certain limit when it comes to adding zero depreciation insurance cover.
Q. Do I have to renew zero depreciation insurance cover while I renew my Kotak car insurance policy?
Ans: Yes, you have to renew your zero depreciation insurance cover every time you renew your Kotak car insurance policy.
Ans: No, the imported cars whose body parts are not available in India are not entitled to the Kotak zero depreciation insurance cover.
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