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Kotak Mahindra comprehensive car insurance policy.
Kotak Mahindra is a general insurance company headquartered in Mumbai, Maharashtra. The company offers non-life insurance products like motor, health, home, and others types of insurance. Mr. Suresh Agarwal is the CEO and MD of the company.
What is meant by Kotak Mahindra Comprehensive car insurance?
A comprehensive car insurance policy is a policy that covers third-party liability and own damages. The comprehensive policy covers you from unforeseen incidents like accidents, theft, fire, natural calamities.
What are the key benefits of buying a Kotak Mahindra comprehensive car insurance policy?
1 . Cashless Service- The claim settlement service of Kotak Mahindra is cashless, which creates flexibility in the operations’
2) AAI Members Discount- If anyone has a member of the Automobile Association of India (AAI) then you will get some special discounts.
3) No Claim Bonus- You can carry forward your No Claim Bonus cover even if you want to switch your policy.
4) Reimbursement Process- Easy Reimbursement process with 24*7 working customer service process
Coverage in Kotak Mahindra comprehensive car insurance Policy-
1. Comprehensive car insurance policy covers you from a wide range of damage caused by an insured event like an accident, theft.
2. Includes passenger cover, up from 50k to 2 lacs per person for the safety of passengers.
3. Comprehensive car insurance policy includes owner-driver cover, which is up to 15 lac.
Owner-driver gets monitory benefit in case of death of the owner-driver.
4. It covers you from third parties liability. The amount of compensation for the third party is decided on his age, income, etc.
5. Kotak Mahindra comprehensive car insurance policy protects your car from losses that occur to the car due to some manmade causes like malicious acts, riots.
How to purchase Kotak Mahindra Comprehensive Car insurance?
Step 1. Go to the online website of https://quickinsure.co.in/car-insurance
Step 2. Click on car insurance
Step 3. Enter your REGISTRATION no. According to your RC
Step 4. You will find a quotation for car insurance from Kotak Mahindra car insurance and other insurers.
Step 5. You can select the quotation of Kotak Mahindra and fill out the proposal form.
Exclusions in Kotak Mahindra Comprehensive car insurance policy.
1. Normal wear and Tear of a car and the parts of a car.
2 Policy got canceled if the driver is fully responsible for unfortunate events. Ex. drunk and drive case.
3. If the driver doesn’t have a valid license, then the policy is not valid.
4. If the vehicle is used for commercial use or business purposes, then it is also not covered under policies terms.
5. If there is a drink and drive case then the claim might get rejected.
Comparison between Third-party comprehensive Kotak Mahindra comprehensive car insurance.
Third-party Car Insurance
Comprehensive Car Insurance
Low premium. Easy renewals.
Premiums are different for different plans.
Covers third-party liability, property damage, death.
Covers damage, theft, third-party liability, personal injuries.
Not cover own damage.
It covers own damage.
It is mandatory as per the motor act.
It is not mandatory as per the motor act.
What is IDV in Kotak Mahindra Comprehensive Car Insurance?
The Insured's Declared Value (IDV) of the vehicle is the maximum Sum Assured by the insurer at the beginning of each policy period for the insured vehicle. IDV is the compensation that the insurer will provide to the policyholder.
What is Endorsement in Kotak Mahindra Comprehensive Car Insurance?
Endorsement refers to the change in an insurance policy made by the insurer on the behalf of the policyholder.
How endorsement works in Kotak Mahindra Comprehensive Car Insurance
Kotak Mahindra issues endorsements when the policy is purchased, at the time of policy renewal, mid-term of the policy.
1. What is meant by comprehensive car insurance of KOTAK Mahindra?
A policy that covers the insured person against third-party liability, as well as own damages, is called comprehensive car insurance.
2. What are the things that are covered in Kotak Mahindra comprehensive car insurance policy?
The comprehensive policy helps cover theft, damages from vandalism, natural calamities, fire, flood.
3. . What are the add-on covers for Kotak Mahindra Comprehensive Car Insurance?
Zero depreciation or Nil depreciation. Engine protection covers Roadside assistance cover. NCB Protector. Return to Invoice. Daily allowance cover. Loss of personal belongings cover. Tire cover.
4. What are the exclusions in Kotak Mahindra comprehensive car insurance policy?
-Damage caused due to war, terror attack, nuclear accidents, etc. -Damages due to using the vehicle for illegal purposes. -Damages were caused to the car while it was driven by a person under the influence of drugs. -Damages to the car due to its engine oil leakage.
5) What is meant by add-ons Kotak Mahindra Comprehensive Car Insurance policy?
Add-ons are the covers that policyholders can avail by paying some extra Premium Amount.