Kotak Third Party Car Insurance

Kotak Car Insurance

Comprehensive Car Insurance

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Starting Premium

₹ 2094/Yr

No. of Branches

25+

Cashless Garages

4,000+

Kotak Third Party Car Insurance Overview

There are types of Kotak Third Party plan

Long term coverage

If you are insuring a new car you can avail of the mandatory long-term third party cover for three continuous years. The policy allows mandatory coverage without the hassle of annual renewals.

Kotak Claim Settlement Ratio

99%

Kotak

94.67%

Industry Average

Car claim settlement ratio is the percentage of claims settled against the total claims received by the insurance company in a given fiscal year. Kotak has a claim settlement ratio of 99%, as compared to the industry average of 94.67%.

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Add-ons Available Under Kotak Car Insurance Plans

Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the Car insurance policy. Kotak Car insurance plans offer the following types of add-ons with the comprehensive policy:

Under this add-on, you get round-the-clock assistance if your car breaks down in the middle of the road and it cannot be taken to the nearest garage. All you have to do is contact Kotak General Insurance and the company would provide the assistance needed any time of the day.

This add-on gives you cover for the depreciation that is deducted at the time of claim. When the car is used, its parts get depreciated due to normal wear and tear. This depreciation is not covered under the car insurance policy. As such, at the time of claims, the insurance company deducts the relevant depreciation from the parts that have been repaired or replaced and you bear the depreciation costs yourself. However, if you choose this add-on, depreciation would be covered by the Kotak car insurance policy. No deduction for depreciation would be done by the company and you would get a higher claim settlement.

Consumables are one-time use items that are used by the garage when repairing your car. For instance, engine oil, lubricants, nuts and bolts are called consumables. The cost of consumables is not covered at the time of claim. However, if you choose the consumables to cover add-on, the cost of consumables would be included in claim settlement and you would get a higher amount of claim.

The engine protects add-on provides coverage against engine damage which occurs if water leaks or seeps into your car’s engine. Usually, engine damage due to water seepage is not covered by the car insurance policy but if this add-on is selected, coverage is allowed for such damage. This add-on is particularly useful if you live in areas that are prone to water-logging in monsoons as your engine is prone to get damaged due to water seepage.

If you choose this add-on you would get the invoice value of the car in case your car is stolen or if it is damaged beyond repairs. In the absence of this add-on, the Insured Declared Value (IDV) of the car insurance policy is paid which depreciates the market value of the car due to the car’s age. Thus, the IDV involves a lower claim settlement but if you choose this add-on you can get the price of the car that you paid.

How To Raise A Claim Under Kotak Third Party Car Insurance

There is a claim process that you should follow to initiate a claim under your Kotak Mahindra car insurance policy. This process is as follows

As soon as you suffer a claim, inform Kotak General Insurance about the same. To inform, you can visit https://www.kotakgeneralinsurance.com/claims and register your claim online. You can also call the toll-free number 1800 266 4545 between 8 am and 8 pm and intimate the company. Alternately you can simply click on https://www.turtlemint.com/raise-claim/ and raise your claim by filling up a form:
- Claim Form:
- https://www.turtlemint.com/raise-claim/#claim-form
- Insurer Name
- Policy Number
- You contact details
- Details of the incident for the claim
After registering your claim, you would get a Claim Reference Number (CRN) which would be used for claim processing
You would have to submit a list of documents for the claim processing. These documents include the car insurance policy, driving license, RC book of the car, FIR (for a third party or theft claims), etc.
The company would arrange for an inspection of the claim after which the claim would be approved
If you have taken your car to a networked garage, you can opt for cashless claims. The company would settle the repair costs directly with the garage
In the case of non-networked garages, however, you should bear the repair costs initially. Then, after you submit the original invoices and bills, the company would reimburse you for the costs incurred
Any deductible applicable under the policy and excluded costs would have to be borne by you

Alternatively, if you have bought the Kotak car insurance policy through Turtlemint, you can take Turtlemint’s assistance in claim settlement. Either drop a mail at support@turtlemint.com or call 1800 266 0101 and inform Turtlemint of your claim. Turtlemint would follow the claim process and help you get the claim settled without any hassles.