Brand new Bike
FAQ for bike insurance of Kotak Mahindra-
1. What is the cost of bike insurance calculated in Kotak Mahindra?
The following factors will be used to determine the cost of two-wheeler insurance. 1. Age of two wheelers 2. Cubic capacity 3. Insured Declared value 4. Geographical location 5. Model of two-wheeler.
2. What add-ons does Kotak Mahindra Two-Wheeler Insurance provide?
Depreciation cover, Consumable cover, Passenger cover, GAP Value insurance, and Roadside Assistance cover are examples of add-on covers that policyholders can purchase to expand their coverage.
3. What is NCB in the Two-wheeler insurance of Kotak Mahindra Insurance?
The term No Claim Bonus refers to a bonus that is not claimed. For claim-free years, all insurers give a discount on their damage premium.
4. How many additional coverages may I pay in my policy at the time of buying?
There is no limit to the number of add-on covers you may choose from when purchasing a two-wheeler insurance policy, so you can choose your coverage to fit your budget and demands.
5. What does compulsory deductible mean?
The amount that the policyholder is required to pay to the insurer at the time of claim settlement is known as the mandatory deductible.
6. What is TPA stand for Kotak Mahindra?
A third-party administrator, or TPA, is a company that processes insurance claims. It's also a phrase used to describe businesses in the insurance industry that handle things like underwriting and customer service.
7. Does the IDV cost Reduces the bike insurance each year?
Yes, in bike insurance depreciation factor reduces the IDV amount each year.
8. Does compulsory deductible include in the Two-wheeler insurance policy?
Yes, a Two-wheeler insurance policy includes a Compulsory deductible.
9. Should I raise a claim every time my two-wheeler gets damaged?
No, you should avoid raising a claim for minor damages to your Two-wheeler if will affect your No Claim Bonus.
10. What will happen to the two-wheeler insurance policy if I change my city?
If you change your city, your two-wheeler insurance premium may get affected. This is because the premium for a two-wheeler depends on the geographical location where it is used.
11. Can I add other add-on covers in addition to this zero depreciation cover in Kotak Mahindra insurance?
Yes, you can add many add-on covers as you want besides the zero depreciation add-on cover.
12. What parts of the two-wheeler will not cover under Kotak Mahindra Nil's depreciation cover?
Nil depreciation cover does not cover or gives compensation for tyres, tubes, batteries.
13. I have sold my bike? What should do with insurance?
If you have sold your bike, you can either transfer the policy to a new owner or can cancel it.
14. What is meant by endorsement in Kotak Mahindra insurance?
The endorsement in the insurance is to refer to changes in details like the name or addresses of the policyholder.