Kotak Bike Insurance Claim

Kotak General Insurance has made its mark in the financial year 2019-2020 through its impressive claim settlement ratio of 82.81%. It has been settling claims of its policyholders seamlessly. Kotak General Insurance has digitalised the procedures involved in the purchase, claim and renewal of the policy to reach out to a larger number of people. The claim settlement procedure can be conducted both online and offline as per one’s preference. It has established an efficient customer care service to guide the policyholders through the process.

List of Documents Required During Claim Settlement

Following are the documents required for claim settlement process of a two-wheeler insurance policy in case any of the following events takes place:

1. In Case of Third Party Claims

• Claim form duly filled and signed
• Original/Copy of two-wheeler insurance policy documents
• Copy of Registration Certificate (RC)
• Copy of Driving License
• Copy of FIR (First Information Report)

2. In Case of an Accident

• Original two-wheeler policy documents
• Claim form duly filled and signed
• Copy of Registration Certificate (RC)
• Copy of Driving License
• Copy of FIR (First Information Report)
• Tax Receipts
• Estimate of cost of repairs
• Bills and receipts of repairs done

3. In Case of Theft

• Claim form duly filled and signed
• Original/Copy of two-wheeler insurance policy documents
• Copy of Registration Certificate (RC)
• Copy of Driving License
• Copy of FIR (First Information Report)
• ‘No Trace Report’ of the insured two-wheeler from the police.
• Duly filled and signed 26, 28, 29, 30 and 35 Forms
• Original Registration Certificate (RC)
• Theft declaration from Regional Transport Office
• All sets of keys/Warranty Card/Service Booklets

How to Register Kotak Bike Insurance Claim Online?

To register your claim online on the official website of Kotak General Insurance, you can follow these simple steps:

Step 1: Visit the Official Website

Visit the official website of Kotak General Insurance Company. Scroll down the home page and click on the ‘Claim Process’ option in the ‘Services’ sections on the bottom of the home page. Here you will get a detailed illustration of the claim process. Scroll down the page and click on ‘Register Now'.

Step 2: Fill in Details

Enter the required details such as Policy Number or Vehicle Registration Number and click on ‘Proceed’. An OTP will be sent to your registered mobile number to verify the details you have mentioned.

Step 3: Verify Policy Details

After you have successfully logged in you can verify your policy details and register a claim for damage/loss of the two-wheeler and click on ‘Proceed’.

Once you have registered the claim online an inspection related to the claim shall be conducted.

How To Make Kotak Cashless Bike Insurance Claim?

Kotak General Insurance has introduced a claim settlement process for the bike insurance policy in the following simple steps to offer a hassle-free experience to its policyholders:

Step 1: Contact Kotak General Insurance

To intimate a new claim, you should contact the insurer within 24 hours of the accident, theft or damage of the insured’s bike. You can contact the insurer by calling on its official number 1800 266 4545 or by visiting the nearest branch.

Step 2: Register Claim

A representative of the insurance company contacts you after the intimation. You have to inform him of the policy number, date, time and location of the incident, accident or theft and all other related details. The representative provides you with a claim registration number marking that your claim has been successfully registered.

Step 3: Survey of Damages

A company surveyor is sent to assess the extent of the damages caused to the bike during the accident. In the case of third party property damage, provide its vehicle registration number. You can even provide contact details of witnesses if any as proof. The surveyor estimates the cost of repair and collects the duly filled claim form, policy documents and proves of the incident.

Step 4: Claim Settlement

After assessing all the aspects, the surveyor gives approval. The insurer confirms its financial and legal liabilities and pays all the expenses of repair of the insured’s bike to the garage. The claim amount is calculated taking the deductibles and depreciation into consideration.

How To Make Kotak Reimbursement Bike Insurance Claim?

You can register a reimbursement claim if there are no network garages nearby or you wish to repair the insured’s bike in any other garage. The insurer provides compensation for repairing the bike through a reimbursement claim. The process of placing a reimbursement claim is described in the following steps:

Step 1: Contact the insurer

You can initiate the reimbursement process by dialling its helpline number 1800 266 4545. You can even register a claim by visiting the nearest branch. The insurer should be informed immediately after the accident or theft of the insured’s bike.

Step 2: Register A Claim

Kotak General Insurance company executive calls you back after the intimation. You have to inform the executive about the policy number and details about the accident. You receive a unique claim reference number from the executive.

Step 3: Survey of the Damages Incurred

Do not move the bike to the garage before the surveyor arrives. The insurance company appoints a surveyor to check the condition of the bike. The surveyor produces an estimate of the cost of repair and collects the required documents, duly filled claim form and contact numbers of witnesses or photos of the incident as proof.

Step 4: Repair and Reimbursement

After the approval, you can send the bike to your desired garage and repair it at your own expense. After the completion of the repair, the bills and receipts of repair along with policy documents are to be submitted to the insurer for the reimbursement. The company verifies the case and once it passes the check, the insurer disburses the claim amount taking into account all the deductibles and depreciation.

In case of claim settlement under Kotak Insurance Company, there are specific grounds that you need to consider so that your claim is not rejected. The insurer rejects a claim for the following reasons:

• Act of negligence
• Misinterpretation of facts
• Driving without a licence
• Registration of a fraud Claim
• Delay in intimation about the mishap to the insurer
• Driving under the influence of alcohol or intoxicating drugs.

Kotak Mahindra No Claim Bonus

With a Kotak Mahindra Two-Wheeler Own-Damage Insurance, every claim-free year the policyholder receives a No Claim Bonus. This is a reward given to the policyholder for their safe driving habits and is cumulative in nature. In the fifth consecutive year, the NCB reaches its maximum limit of 50 per cent. If the insurance provider files a claim, however, the accumulated NCB gets disabled. In such cases, the insurance amount does not make a difference in the loss of the NCB. Hence, it is advised that every policyholder file for an insurance claim selectively. To keep the NCB intact it is better to file a claim only when the damage during a mishap is extensive or the claim amount is higher than the NCB.

Additionally, the insurance holder must renew the Kotak Mahindra two-wheeler insurance policy on time. Without timely renewal, the NCB will become invalid. To avoid such circumstances the insurance providers give their customers a grace period of 90 days from the date of expiry. Delays in renewal after this period lead to cancellation and the NCB is lost with it. For the ease of purchase customers who shift to a different insurance provider at the time of renewal or sell their two-wheeler to buy another one can simply get their NCB transferred to the new insurance policy. This is possible because the NCB is attached to the policyholder rather than the two-wheeler or the insurance policy.