Car Insurance

More Economical

When you compare car insurance online, you will be able to determine which is the best policy for you based on its cost. The only thing to note here is that one should consciously compare similar types of car insurance policies.

Paperless transactions

Car insurance require you to answer basic questions about yourself and your vehicle. Based on these questions, you can select the insurance coverage you wish to buy for your vehicle. You won't need any paperwork to buy a car insurance online.

Instant Policy

When you buy car insurance offline, processing physical paperwork takes a long time; however, when you purchase a car insurance online, information is processed instantly, and your policy is issued immediately.

More Convenience

Online car insurance purchases are more convenient than traditional ones. You can buy an insurance policy at one in the morning from the convenience of your home and still have a smooth transaction. Buying car insurance online offers ease.

Checking the credibility of the insurer is easy

Online research into an insurance provider is more straightforward than offline research. Before buying a new car insurance online, you can check the company's website to learn more about its Incurred Claim Ratio, claim filing process, and claim resolution time. To obtain a clearer picture, you can also read reviews left by current or former customers.

That's where Kotak General steps in with their expertise, solving all your problems in a snap.

Get All-round protection for your precious vehicle in a few steps. We at Kotak General Insurance understand the value of your time and have simplified the car insurance buying process to a few simple steps.

STEP 1:

Click on the "Get a Car Insurance Quote" button on the Kotak Car Insurance Page

STEP 2:

Fill in your car details such as registration number, model, make etc

STEP 3:

Fill in you personal details and make the payment online.

Looking for new car insurance? Here are some tips on how to choose car insurance for new car –

• Opt for a comprehensive new car insurance policy

A new car should have an all-around protection. That is what a comprehensive car insurance policy offers. So, choose a comprehensive car insurance for new cars for an inclusive scope of coverage against possible financial losses.

• Choose a suitable IDV

The Insured Declared Value is the maximum coverage liability that the insurance company undertakes when insuring your car. This is the value that is paid when you suffer a theft or total loss. So, a higher IDV is a better choice as the claim pay out is higher in theft or total loss cases.

• Select suitable add-ons

Make your new car insurance policy more comprehensive with add-ons. Choose suitable add-ons depending on your coverage needs and get wider coverage. Enjoy higher claim pay-outs and better financial security.

• Claim the applicable discounts

As mentioned earlier, Kotak’s comprehensive car insurance policy allows a range of premium discounts that can reduce the new car insurance price. So, look for these discounts and claim the ones which are available for your car. If you had a previous car whose no claim bonus has been accumulated, transfer the bonus to the new car and get a discount on the new car insurance price.

• Check new car insurance price

Compare the new car insurance price across different policies. Choose the new car insurance policy that offers the most competitive rate of premium without compromising on the coverage. For instance, Kotak offers affordable policies for your new car with a comprehensive scope of coverage.

• Check the networked garages

Networked garages allow you to avail of the cashless claim facility. So, the wider the network of such garages, the better. Check the list of networked garages in your area to know which garage would serve the purpose when you suffer a claim.

• Know the claim settlement process

You need to follow the claim settlement process for a quick claim settlement. So, check the claim settlement process of the insurance company. Also, look for a policy that has a streamlined process and simplifies the claim experience, just like Kotak does.

• Check the Claim Settlement Ratio

Lastly, check the Claim Settlement Ratio of the insurance company as it indicates the percentage of claims that the company has settled. A high ratio is a better choice since it fosters trust on the insurer. For instance, Kotak has a Claim Settlement Ratio of 97% which shows that the company settles most of its claims and can be trusted for your new car insurance.

Want to know how car insurance premium is calculated? Want to know how much your car insurance cost would? You can use the car insurance premium calculator to find out.

The car insurance premium calculator is an online tool that is easy to use. It gives you the exact amount of car insurance premium and helps you buy the policy too.

To use the car premium calculator, you just have to enter a few details. These details are as follows –

• The type of policy that you want
• The make, model and variant of your car
• The registration date of the car
• The registration location
• Claim history, i.e., whether you made claims in the previous years or not.
• Available no claim bonus, if you did not make claims in the previous year
• The add-ons that you add to the comprehensive policy
• The discounts that you can avail

The car insurance premium calculator uses these factors in premium calculation. Here’s how these factors affect your car insurance premium –

• Type of policy selected

The car insurance premium depends on the type of policy that you choose. Comprehensive car insurance plans are dearer than third party liability plans since they offer a wider scope of coverage.

• Make, model and variant

The make, model and variant of the car determine the cost of the car which, in turn, affects the premium.

• Registration date/age of the car

The registration date of the car indicates its age. As the car gets older, its value depreciates. That is why the car insurance premium is lower for older cars compared to newer ones.

• Registration location

Registration location also has a bearing on the car insurance premium. This is because the probability of damage and the cost of repairs at metro cities is higher compared to non-metro cities. Insurers divide Indian cities into tiers and the car insurance premium is higher for cars registered in Tier 1 cities compared to those registered in Tier 2 cities.

• Previous claims

The claim history is assessed when calculating the car insurance premium. This is because the claim history determines the no claim bonus which allows a premium discount.

• Add-ons selected

If you choose add-ons to enhance the scope of your policy, the car insurance premium calculator would take the cost of the add-ons into consideration.

• Applicable discounts

If you are eligible for premium discounts, the same would be considered and the premium would be discounted.

• Coverage tenure

Lastly, the coverage tenure also affects the car insurance premium calculated. Long-term car insurance plans, like 3-year third party liability plans or bundled plans, cost a higher amount of premium compared to annual plans.

So, enter the correct details in the car insurance premium calculator to work out the premium payable for your car insurance policy either when you buy the plan or when you renew it.

Different factors affect the four-wheeler insurance premium. These factors are as follows

Coverage type

The four-wheeler insurance cost depends on the type of coverage selected. Different plans have different premium outgoes and what you choose affects what you pay. Comprehensive plans are more expensive than third party plans because they offer a more inclusive scope of cover.

Car type

Car type means the make and model of the car as well as its fuel version. This determines the cost of the car and the coverage that would be allowed. Lower-priced cars will have lower premiums and vice-versa. So, the make and model of the car are used to ascertain the car’s value based on which the IDV is determined and the premium is fixed.

IDV

The Insured Declared Value affects the premium directly since it determines the coverage amount. Higher IDVs incur a higher premium outgo and vice-versa.

Registration date and location

The registration date of the car indicates its age. The age indicates the depreciation suffered and the reduced value of the car. Registration location indicates whether the car is registered at a metro city or a non-metro one.

Both these aspects affect four-wheeler insurance premiums. The older the car the lower the premium. Moreover, car insurance premiums in metro cities are higher than non-metro ones.

No claim bonus

The no claim bonus determines the discount that you can get when renewing your four-wheeler insurance policy. The higher the bonus the higher the discount and lower the premium that you have to pay.

Add-ons

Each add-on attracts an additional premium. So, depending on how many add-ons that you choose, the overall premium increases.

Other discounts

If you claim any other type of discount under the four-wheeler insurance policy, the premium would reduce.

Coverage duration

Policies that offer long-term coverage are priced higher than policies that offer annual coverage only.

Is it time for car insurance renewal? Renew your policy online and enjoy complete coverage against unforeseen emergencies.

Here are the advantages of renewing car insurance online –

Easy and convenient

Renewing car insurance online is very easy and convenient. You can renew the policy from the comfort of your home or office or even on the go. You don’t have to visit the insurance company’s branch for car insurance renewal. It is, thus, convenient. Moreover, no paperwork is required and you can renew in some simple steps making the process easy.

Instant

Online car policy renewal allows instant coverage. This is because the renewal is done in real time and you can enjoy instant coverage on the car.

Cost-effective

Renewing online cuts down on the costs of physically visiting the insurance company and renewing the policy. Moreover, you can compare the car insurance quotes across different insurance companies and switch to a company offering a wide scope of coverage at lower rates of premiums.

Checking existing policy details

When you renew car insurance online, you can also check the details of your existing policy. You don’t have to store the physical documents of your policy. Simply enter the policy number and check the details of the coverage, the policy start and end dates, available no claim bonus, add-ons selected, etc.

Claiming no claim bonus

If you have accumulated the no claim bonus through previous claim-free years, you can use the bonus and claim a discount when renewing the policy.

Availing discounts

You can check and avail the eligible discounts when renewing car insurance online.

Using the premium calculator

The online mode offers the free car insurance premium calculator that helps you calculate the renewal premium instantly. You can, thus, estimate the cost of renewing the policy before you renew.

Ease of payment

Renewing online also means paying the renewal premium online. You can pay the premium through any of the digital payment modes like credit or debit cards, mobile wallets, UPI, net banking, RTGS, IMPS, etc.

Easy customization

You can add or remove add-ons at the time of car insurance policy add-ons and enjoy the desired coverage. You can also change the type of policy that you want.

Transparent process

The online car insurance renewal process is seamless and transparent. You get to know the detailed premium break-up for the coverage and the associated charges. Know more important benefits of car insurance renewal

With Kotak General Insurance, you can renew car insurance policy by just entering your existing policy number or customer ID on the page. Once your policy number/customer ID is verified, you can make the payment to renew your insurance instantly.

Want to renew your car insurance policy? Kotak makes your job easy! Kotak car insurance can be done online in a few simple steps. Read on how –

Step 1:

Visit https://www.kotakgeneral.com/renewal and choose the car insurance policy that you want to renew.

Step 2:

Enter your policy number and mobile number and click on ‘Submit’.

Step 3:

Your policy number will be verified and you will be able to check the details of your existing policy. You can continue to renew renew the existing policy or make changes.

Step 4:

Pay the renewal premium and your policy will be done instantly!

Just four steps for Kotak car insurance renewal and you can get instant coverage continuation.

Cashless Claim Process

Step 1: Call us on 1800 266 4545 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy.

Step 2: Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.

Step 3: You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions.

Step 4: An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.

Step 5: On cashless facility confirmation, the vehicle can be repaired at a preferred network garage, on payment made directly to the garage.

Step 6: You will only be required to pay the deductible as mentioned in the policy, and the depreciation value, salvage, etc., as informed by the surveyor.

Reimbursement Process

Step 1: Call us on 1800 266 4545 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy.

Step 2: Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.

Step 3: You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions.

Step 4: An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.

Step 5: The vehicle can then be repaired by the insurer followed by the payment for the same by the insurer.

Step 6: Submit all bills, payment receipt along with your policy details to us, and we will make the payment within 7 working days of completion of the documentation

List of documents required for filing a car insurance claim

• Registration Certificate (RC) Copy
• Policy Copy
• Policy holder's valid ID proof
• Drivers Driving license
• FIR Copy (In case of theft and TP claim)
• Duly filled Claim form
• Any further requirements will be conveyed basis inspection

Car Insurance Premium

The car insurance policy premium refers to the amount paid periodically by the policyholder to the insurance company for the coverage as per the policy.

Insured Declared Value (IDV) in Car Insurance

The Insured Declared Value (IDV) of a vehicle is the maximum Sum Insured fixed by the insurer at the beginning of each policy period for the insured vehicle. The IDV of the vehicle is to be fixed on the basis of the manufacturer's listed selling price of the brand and model as the vehicle insured at the commencement of new car insurance policy/ car policy renewal and adjusted for depreciation. If the vehicle suffers total loss, the IDV is the compensation the insurer will provide to the policyholder.

Coverage in Car Insurance Policy

Coverage is the amount of risk that is covered under a car insurance policy.

No Claim Bonus (NCB) in Car Insurance

The No Claim Bonus is the discount on the own damage portion on the premium offered to the policyholder from the car insurance company for responsible driving and not filing damage claims during the preceding policy year.

Zero Depreciation in Car Insurance

Zero Depreciation Cover is an add-on wherein the entire claim amount is settled by the car insurance company without factoring in depreciation value of the insured car. This cover is applicable to vehicles that are less than 5 years old.

Own Damage Cover in Car Insurance

Own damage cover in car insurance protects the insured vehicle against the damages caused due to accidents, and man-made and natural calamities such riots, theft, fire, flood, etc.

Cashless Claims in Car Insurance

When you get your damaged car repaired at your insurance provider's network garage, the insurer pays the garage directly. Since the policyholder does not have to handle this expense from his/her own pocket, this facility is called a cashless claim. This type of car insurance claim is growing popular day-by-day as the policyholder is not burdened by immediate cash requirement.

Comprehensive Coverage in Car Insurance

Comprehensive car insurance covers a four-wheeler against own and third-party damages. It provides financial help to the policyholder if the insured car has sustained damages due to road accidents, natural disasters, artificial calamities, theft, fire, etc., along with third-party liabilities.

Deductibles in Car Insurance

In car insurance, deductibles are a part of the claim amount you will pay from your pocket during claim settlement. The rest of the claim amount is paid by the insurance company. There are two types: voluntary and compulsory deductible.

A compulsory deductible is an amount you must pay mandatorily whenever a claim is registered. The amount of mandatory deductible depends on the cubic capacity of a car's engine. On the other hand, a voluntary deductible in car insurance is the part of the claim amount you willingly choose to pay at the time of claim settlement. You can also choose not to pay voluntary deductibles by opting for zero deductibles when you buy car insurance.

RTO- Regional Transport Office

RTO stands for Regional Transport Office and is a government body responsible for vehicle registration and issuance of driver’s licenses. Also, the RTO in each state is responsible for maintaining the database of its drivers and vehicles.