Kotak Mahindra Own-Damage Bike Insurance Policy

The Kotak Mahindra own-damage bike insurance policy, otherwise called a standalone own-damage bike insurance policy, offers comprehensive coverage for your bike against various types of damages and losses. This includes protection from accidents, natural disasters, man-made incidents, theft, etc. Continue reading to learn more about OD bike insurance policy.

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Kotak Mahindra Own-Damage Bike Insurance Policy - Key Features

Here are the main highlights of the Kotak Mahindra Own-Damage Bike Insurance policy:

Categories Key Features
Policy Coverage
  • Compensation for damages or losses from accidents.
  • Financial support if your bike is stolen.
  • Coverage for damages or losses from man-made disasters, such as fire, explosion, war, etc.
  • Protection against losses due to natural disasters like flood, earthquake, etc.
Policy Premium
  • Budget-friendly premium rates.
  • Various add-ons or riders are available at an extra premium to boost your coverage.
  • Mandatory Personal Accident (PA) cover for bike owners by paying little extra premium.
Convenience
  • Immediate bike insurance policy issuance without any paperwork.
  • Hassle-free claim process with support from a wide network of garages.
  • Simple online purchase and renewal options.

*Disclaimer: The above table highlights the key features and is for reference purposes only. For understanding the exact coverage refer to the policy wordings.

Why Choose Kotak Mahindra Own-Damage Bike Insurance?

Own-damage insurance covers your bike or scooter against accidents, natural and man-made disasters, theft, and fire. To get complete protection, it is advisable to pair this insurance with mandatory third-party bike insurance.

Following are the top reasons that make Kotak Mahindra own-damage bike insurance policy stand out:

  • Quick Claim Processing: With a high Claim Settlement Ratio (CSR) of 98.31% in 2024, Kotak General Insurance Co. Ltd. ensures that claims are settled quickly and efficiently.
  • No Claim Bonus: If you do not make any claims during the policy year, you earn a no-claim bonus. These discounts make your policy renewal premiums more affordable, reducing the overall premium amount of the bike insurance policy.
  • Wide Network of Cashless Garages: With access to more than 4,200 cashless garages across the country, you can easily get two-wheeler repairs done without any out-of-pocket expenses.

Inclusions of Kotak Mahindra Own-Damage Bike Insurance

The inclusions of Kotak Mahindra own-damage two wheeler insurance policy are as follows:

  • Damage from man-made disasters like strikes, terrorist activities, etc., is included.
  • Loss or damage resulting from natural calamities such as earthquakes, floods, storms, etc.
  • Protection against losses caused by fire, explosions, etc.
  • Accidents resulting in damages or losses are covered.
  • Coverage extends to losses due to burglary or theft.

Exclusions of Kotak Mahindra Own-Damage Bike Insurance

Kotak Mahindra own-damage bike insurance policy does not provide coverage for the following:

  • Damage from normal wear and tear or ageing of the vehicle.
  • Mechanical or electrical breakdowns are not included.
  • Depreciation or resulting losses, unless you have specific add-ons that cover them.
  • Damages caused to a third-party in a road accident by the insured bike.
  • Damage caused when driving the vehicle outside its authorised geographical limits.
  • Damage caused by someone driving under the influence of drugs or alcohol.
  • Any damage or loss that falls outside the terms and conditions of the policy.

How to Buy Kotak Mahindra Own-Damage Bike Insurance Online?

Here's how you can buy Kotak Mahindra bike insurance policy:

Step 1: Visit Policybazaar.com and click on 'Insurance Products' in the top menu.

Step 2: Select 'Own-Damage Bike Insurance' from the options provided.

Step 3: Enter accurate details about your bike and click on the 'View Prices' button.

Step 4: Choose Kotak Mahindra own-damage bike insurance from the list of insurers.

Step 5: Fill in all the required details accurately.

Step 6: Proceed to pay the premium amount online and you will receive the policy document via email on your registered email ID.

How to Raise Kotak Mahindra Own-Damage Bike Insurance Claims?

The process to file a claim for Kotak Mahindra own-damage bike insurance is as follows:

Step 1: Inform your insurance provider about the incident via an email or a phone call.

Step 2: Visit the insurer's website to download the claim form. Fill it out accurately, sign it, and arrange all necessary documents.

Step 3: Submit the completed claim form along with the required documents to the insurance company.

Step 4: Once your claim application is received, an appointed surveyor will assess the damages of your two-wheeler.

Step 5: The surveyor will submit the assessment report to the insurance provider for review, based on which your claim will either be approved or rejected.

Step 6: If your claim gets approved, you can opt for cashless repairs at any of the company's network garages. If you choose a non-network garage, pay the repair bills upfront and submit them to the insurer for reimbursement.

Documents Required for Kotak Mahindra Own-Damage Bike Insurance Claim

The documents required to file a claim for Kotak Mahindra own-damage bike insurance involve the following:

  • A copy of the FIR (if applicable)
  • Driving licence of the rider at the time of the accident
  • RC or Registration Certificate of the bike
  • Active own-damage bike insurance policy
  • Completed and signed claim form
  • Any other documents required by the insurance company

FAQs About Kotak Mahindra Own-Damage Bike Insurance Policy

  • Q1. What is covered under National Own-Damage Bike Insurance?

    Ans: It covers damages due to accidents, theft, natural disasters, fire, riots, and malicious acts.
  • Q2. What is Kotak Mahindra own-damage bike insurance policy?

    Ans: Kotak Mahindra's own-damage bike insurance policy provides financial protection for your bike if it is damaged by accidents, theft, fire, natural calamities, or man-made disasters.
  • Q3. Is own-damage bike insurance mandatory?

    Ans: No, own-damage bike insurance is not legally mandatory; only third-party bike insurance is required. However, own-damage insurance is recommended for comprehensive protection of your bike.
  • Q4. What is Kotak Mahindra's own-damage bike insurance cost?

    Ans: Kotak Mahindra own-damage bike insurance costs vary based on factors such as the bike's insured declared value (IDV), make, model, variant, and age. Additional factors like the bike's location and usage can also influence the premium amount.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 8 Reviews)

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Kotak Mahindra Own-Damage Bike Insurance Policy Reviews & Ratings

4.5 / 5 (Based on 8 Reviews)
(Showing Newest 8 reviews)
P
Patna, August 18, 2021
great benefits
I was looking for policy for my bike.after seeing many company, i liked the website of policy bazaar.company has given the brief details about their policies on their website. looking at the benefits, i took the Kotak Mahindra two wheeler policy and i bought this policy online without much hassle.
Sanjeev
Ayodhya, June 04, 2021
Good customer expert team
The customer expert team of Policybazaar is best and I had bought a Kotak Mahindra two wheeler insurance policy from them. I am happy that I have got best two wheeler insurance plan.
Prem
Gurgaon, June 04, 2021
Flexibility in buying the plan
It is flexible to know and to buy the kotak Mahindra two wheeler insurance policy from the website of the Policybazaar. I really like it and I can adjust and customize my plan as per my requirement and services. It is easy to do.
Santosh
Ata, June 04, 2021
Bought the additional covers
When I bought the Kotak Mahindra two wheeler insurance policy I had also got the additional covers with the same. Those covers are really nice andup to the mark. It has definitely saved my two wheeler.
Deepak
Wadhwan, February 10, 2021
Cashless Health Claims
The insurance company paid my bike repair bills directly as I had comprehensive policy and the repair were done at a network workshop. I am so happy and satisfied customer. Thank You!
Raju
East Godavari, February 10, 2021
Best two-wheeler plans
Policybazaar is known for easy online comparison of insurance policies. And this is true and I realized it when I bought it online from them recently. I am going to buy all the insurance policies for me any my family from you only.
Roma
Laharpur, February 10, 2021
Policy Purchase in Few Steps
Today I bought a TATA AIG two-wheeler insurance plan in 3 simple steps. I paid them the policy premium online and they mailed it to me. TATA AIG car premium is quite affordable and coverage is quite comprehensive. Thank you Policybazaar was solving my problem.
Palak
Odagoan, February 10, 2021
Such Quick Comparison
It was so easy to compare two-wheeler quotes on their site. They helped me select add-on covers to enhance my policy and get the best one. I looked for bike insurance comparison and got the policy in just few minutes.

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis