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Kotak Mahindra Comprehensive Bike Insurance
Kotak Mahindra Comprehensive Bike Insurance offers extensive insurance coverage for bikes and other two-wheelers. It covers various insurance aspects of a two-wheeler. This article compares the policy benefits of the third-party bike insurance offered by Kotak Mahindra General Insurance Company Ltd. with the comprehensive plan. It also mentions various benefits offered by the policy and identifies a list of clauses where the policy does not offer any benefits.
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Kotak Mahindra Comprehensive Bike Insurance vs. Third-Party Bike Insurance
The comprehensive bike insurance and third-party bike insurance offered by Kotak Mahindra General Insurance Company Ltd. are different in various aspects. The following table represents the difference between the both:
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Kotak Mahindra Comprehensive Bike Insurance |
Third-Party Bike Insurance |
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Provides coverage for third-party liability and damages incurred by the insured vehicle and person. |
Provides coverage to third-party liabilities only. |
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Protects against damages caused natural or manmade activities. |
Doesn’t protects against damages caused by natural or manmade activities. |
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You can add additional benefits to the comprehensive policy. |
You cannot add additional benefits to the third-party policy. |
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It is not mandated by law. |
This type of policy is made compulsory by law. |
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Because of its vast coverage, the premium costs are high. |
Because of its limited coverage, the premium costs are low. |
What is Covered under Kotak Mahindra Comprehensive Bike Insurance Plan?
Kotak Mahindra General Insurance Company Ltd. offers three key insurance covers:
- Third-party insurance cover: Facilitates the protection against the legal liability raised due to the damage of any third-party asset or permanent injury or death of other persons that occurred due to the insured two-wheeler.
- Loss or damage cover:Facilitates the protection of the two-wheeler and the insured individuals in case the damage occurred due to natural or man-made calamities.
- Personal insurance cover: Offers insurance up to INR 15 lakhs for the owner-driver. It also offers optional add-on insurance cover for the co-passengers.
Explore Kotak Mahindra Bike Insurance
What Is Not Covered Under Kotak Mahindra Comprehensive Bike Insurance?
Kotak Mahindra Comprehensive Bike Insurance does not include various covers in case of damage or loss of vehicles. The list of benefits excluded from the insurance cover is mentioned below:
- The damage or loss occurred due to aging or wearing
- The damage or loss occurred if the driver was drunk or without a license while driving
- The damage occurred due to depreciation or any consequential loss
- The loss or damage occurred due to the influence of war, nuclear risk, or mutiny
- When the vehicle is used beyond its permissible limitation
- If only the tyres and tubes are damaged, the policyholders would receive up to 50% of the cost of replacement
Kotak Mahindra Comprehensive Bike Insurance Benefits
Key benefits offered by the Kotak Mahindra Comprehensive Bike Insurance are listed below:
- It allows policyholders to choose from multiple tenure options available such as 1,2, or 3 years. In addition, Kotak Mahindra comprehensive bike insurance policyoffers low premium rates and various discounts if longer policy tenure is chosen.
- It does not increase the premium rate at each annual revision if 2 or 3 years tenure is chosen.
- The policy offers attractive discounts based on the previous claim history of the policyholder.
- The policy also offers additional discounts if the policyholder is an active member of the Automobile Association of India.
FAQs
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Q. What is the tenure of the Kotak Mahindra Comprehensive Bike Insurance?
The tenure of comprehensive bike insurance is 1 year. However, the tenure of the third-party liability insurance is 5 years.
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Q. Why choose Kotak Mahindra Comprehensive Bike Insurance over other providers?
Kotak Mahindra General Insurance Company has its digital platform to access and avail all the services offered by the company from the website while not visiting the branch offices. Policyholders can easily renew their policy or calculate the premium amount on the company website. Therefore, it offers more convenience and better access to purchasing and managing insurance policies.
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Q. How much coverage is offered by Kotak Mahindra Comprehensive Bike Insurance?
To meet the need of customers who use the two-wheeler extensively and are interested in purchasing the Kotak Mahindra Comprehensive Bike Insurance, Kotak Mahindra General Insurance Company offers up to INR 7.5 lakhs for property damage. In case of death or any severe injury, the amount is decided by the court.
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