Kotak Mahindra Bike Insurance Claim
Kotak General Insurance Company offers a smooth and transparent claim handling process to its customers. The process to register Kotak Mahindra bike insurance claims is given below:Read more
Kotak Mahindra Cashless Bike Insurance Claim
The policyholder can file cashless bike insurance claims in the network garages only. You can file a claim for the expenses incurred or seek support in case of an accident or mishap while driving on the road. However, there is a process that you need to follow when registering your Kotak Mahindra Bike Insurance Claim and the details are given below.
List of Documents Required During Claim Settlement
Kotak Mahindra Bike Insurance policyholders can claim to compensate for any damages and loss that occurred while driving the two-wheeler. In that context, they should submit the following documents:
- A policy copy
- Kotak Mahindra bike insurance claimforms, signed and duly filled
- A self-attested copy of the RC or the Vehicle Registration Certificate
- A copy of the bike license if the damage took place while driving
- The repairing invoice for the cashless claim
- The repairing invoice, repairing estimate, and payment receipt for the non-cashless claim
- Photocopies of identity and address proof of the policyholders
Kotak Mahindra Two Wheeler Insurance Plans
How to File Kotak Mahindra Cashless Bike Insurance Claim?
To register cashless claims, the process to be followed is given below:
- Inform the Insurer- The individuals who require Kotak Mahindra bike insurance claimfor damage or loss that occurred to their vehicle or third-party asset must inform the company within 24 hours of the incident. They can call or email the customer care department. They can also file the claim from Policybazaar’s website under the Kotak Mahindra Claims Section.
- Provide Details- They need to fill in details like their name, contact number, policy number, and other details and submit the form.
- Coordinate- The company personnel will contact the individual and ask for the policy number, bike registration number, bike model number, and other necessary details. They will also ask for the date, time, place, and other details of the incident. On successful registration of claims, they will offer a claim registration number as confirmation.
- Document Verification- The company personnel will verify all the documents, check the vehicle's condition, and survey the details necessary for the accident. Based on these, the surveyor will estimate the cost of repair and loss.
- Claim Settlement- Assessing all the information, the company will decide the claim amount considering the deductibles, depreciation, legal and financial liabilities as applicable.
How to Register Kotak Mahindra Reimbursement Bike Insurance Claim?
The process to register reimbursement claims in case of an accident, loss, or damage during the policy term is below.
Step 1: The policyholder must immediately inform the company about the incident on the helpline number. You can also register a claim by visiting the nearest branch office of Kotak Mahindra General Insurance.
Step 2: You can register the claim at the branch office or by phone. On successful registration of claim registration, you will receive a claim reference number.
Step 3: The Insurer will send a surveyor to the place of the incident to verify the incident and estimate the cost of loss or damages that took place. Make sure that you do not move the bike to any garage before the surveyor reaches the place.
Step 4: Once the reimbursement claim is approved, you can move the bike to any garages and get the vehicle repaired at your expense first. The insurer will verify details and expenses that occurred for repairing and disburse the claim amount considering the deductibles and depreciation after approval.
Common Kotak Mahindra Bike Insurance Claim Rejection Reasons
While registering your bike insurance claim, avoid committing the following mistakes:
- In case of misrepresentation of facts
- False registration of the claim
- Driving without a license or being drunk while the mishap took place
- In case of any act of negligence for the incident or expense claiming process
- In case of delay or failure to inform the company within 24 hours about the incident
Kotak Mahindra No Claim Bonus
The policyholder will be eligible for a No Claim Bonus (NCB) if no claim has been registered during the policy term. The NCB can reach up to 50% at the maximum limit in the fifth policy year, provided no claim is processed during each of the initial years. The insured person will lose all the benefits offered by the NCB if any claim is filed. Therefore, they should continue filing Kotak Mahindra bike insurance claims in case of extensive damage, or the claim amount is higher than NCB.
To keep the benefits of NCB intact, the policyholders must renew the policy on time. If they fail to renew the policy by the due date, they will lose the accumulated percentage of NCB to date. However, to safeguard the policyholders, the company offers a grace period of 90 days in case they miss the due date.
If the insured individuals want to purchase a policy from a different insurer, they can transfer the NCB benefits of the present policy by following the necessary procedure.
Kotak Mahindra bike insurance claim policy does not offer any fixed coverage for each bike insured. However, the coverage amount is decided based on the Insured Declared Value (IDV) of the bike. The insurer deducts the deprecation and other deductibles to decide the final coverage value in case of theft of the bike.
Yes, you can register cashless claims and the repair work will be done at any of the insurer-listed cashless garages.
Yes, you can download Kotak Mahindra bike insurance claim form online from the official website of the Kotak Mahindra General Insurance Company.
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