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Zurich Kotak Car Insurance
Zurich Kotak car insurance (formerly known as Kotak Mahindra) helps you to avoid huge financial expenses that you may incur in case your car meets with unanticipated adversity, such as a road accident. This policy by Kotak Mahindra General Insurance Company specializes in offering quality and economical insurance solutions to their customers.
About Zurich Kotak General Insurance Company
Zurich Kotak General Insurance is a combined entity between Kotak Mahindra and Zurich Insurance Company Limited. Earlier the company was totally owned by Kotak Mahindra but in 2024, Zurich acquired 70% stake in the general insurance company. The insurance company was established to offer services to the non-life insurance sector in India
With its customer-oriented approach, Zurich Kotak General Insurance Company offers customised insurance products and services that customers can purchase online without any hassle. It functions with a customer-oriented approach and offers plans for all kinds of vehicles. Moreover, the company excels in offering quality customer services with an efficient claim handling process and a diverse range of products, including four-wheeler insurance.
Key Features of Zurich Kotak Car Insurance
| Features | Coverage and Benefits |
| Third-Party Coverage | Yes |
| Claim Settlement Ratio | 98% |
| Personal Accident Insurance | Up to Rs. 15 Lakhs |
| Network Garages | 2327 |
| No Claim Bonus | Yes |
| No. of Zero Dep Claims | 2 |
| No. of Comprehensive Claims | Unlimited (cashless upto2) |
Benefits of Zurich Kotak Car Insurance
Zurich Kotak car insurance comes with the following benefits for policyholders:
- Zurich Kotak General Insurance Company offers an Early Bird discount for a limited time in case of car insurance renewal from Policybazaar.com. Moreover, a policyholder can also avail Preferred Garage discount if they get the insured car repaired at a preferred garage.
- The insurance company also offers Value Added Services on purchasing the car policy from Policybazaar Insurance Brokers Private Limited. A maximum of 3 such services can be availed during the policy tenure.
- Zurich Kotak General Insurance Company also offers all-round assistance to the policyholders.
- Zurich Kotak car insurance claim settlement ratio is 98%.
Types of Zurich Kotak Car Insurance Policy
Under Zurich Kotak car insurance policy, three types of coverage are offered towards private cars:
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Zurich Kotak Third Party Liability Insurance Policy
Under this Zurich Kotak car insurance policy, the insurer compensates the policyholder for the loss or damage caused to the third party involved in the accident by the insured car. It covers the car owner’s liability arising out of accidental injury, property damage or death of a third party. However, third party insurance doesn't cover any damages to the insured vehicle.
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Zurich Kotak Comprehensive Insurance Policy
Zurich Kotak comprehensive insurance plan covers the insured vehicle against damages arising due to road accidents, fire, theft, natural disasters, manmade disasters, etc. Comprehensive policy also covers third-party liability expenses arising out of accidental damage, injury or death of a third party.
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Zurich Kotak Own Damage Insurance Policy
Zurich Kotak own damage insurance plan covers the insured car against damages incurred in case of an accident, fire, theft, natural calamity, etc. Own damage plan can be purchased in addition to the third-party liability-only policy.
Zurich Kotak Car Insurance Premium Calculator
By using the Zurich Kotak Car Insurance Premium Calculator, you can calculate the estimated premium before buying a car insurance policy.
Coverage Under Zurich Kotak Car Insurance
- Natural Calamities: Damages arising due to natural disasters like earthquakes, floods, storms, tempests, typhoons, hailstorms, cyclones, landslides, etc., are covered
- Theft and Burglary: Damages sustained by the insured car due to theft, housebreaking or burglary are included in the plan
- Fire: The plan covers damages due to fire, lightning and self-ignition as well.
- Malicious Acts: Damages arising due to malicious acts, such as riots, strikes and terrorist activity, are covered under the car insurance plan.
- Accidental Damage: Any damage caused to the insured vehicle during a road accident is covered.
- Third-Party Liability: Third-party liability expenses resulting from property damage, injury, disability and death of a third party are covered.
- In-transit Damage: Damages to the car while in transit by road, rail, lift, waterway, and air are included.
- Personal Accident Cover: Accidental death or disability of the car's owner-driver is covered.
- Wear and Tear: Normal wear and tear of the vehicle leading to depreciation is excluded.
- Consequential Losses: Any kind of consequential loss to the insured car is not covered by the insurer.
- Used for Other Purposes: If the insured vehicle is being used for a purpose other than private use, then coverage is not available.
- Invalid Driving License: If the driver doesn’t carry a valid driving license while driving and meets with an accident, it will not be covered.
- Breakdown: Mechanical or electrical breakdown of the car is not covered under the plan.
- Outside Geographical Area: Any accidental loss or damage sustained outside the geographical area mentioned in the motor insurance policy is excluded.
- Contractual Liability: Any claim arising out of liability that is contractual is not included.
- Drunk Driving: Any accident that occurs when the vehicle was driven under the influence of alcohol or drugs is excluded.
- War & Related Perils: Damage occurred due to war or warlike the situation or use of a nuclear weapon is excluded.
Zurich Kotak Car Insurance: Add-ons
Roadside Assistance Cover
The roadside assistance add-on cover offers roadside assistance to the policyholder in case the insured car gets stuck somewhere on the road.
It also arranges for towing services to the nearest network garage if the car stops moving in the middle of the road.
Consumables Cover
The Consumable add-on covers the insured car for the cost of replaced consumables damaged due to an uncertain incident.
Consumable items include screws, nuts, oil filters, etc.
Kotak Meter Switch On/Switch Off Cover
This add-on lets you switch off your OD cover when not using the car. It offers a discount on next year's policy renewal premium. If you don't drive your car frequently, you can switch off the button through the Policybazaar app and save on next year's renewal.
The discount on own damage is based on the reward days as mentioned below:
| Reward Days | Discount on accident cover (OD cover) |
| 20 - 60 | 15% |
| 61 - 120 | 25% |
| 121 - above | 40% |
Moreover, if you have switched off the OD cover continuously for 24 hours, you will be rewarded with 1 bonus day. The discount will not be given if you make any claim for your OD (accident) cover during a policy year.
Depreciation Cover
Depreciation add-on cover an insured against depreciation borne by the insured car.
All metal and plastic parts are fully covered, whereas tyres, batteries and tubes are covered at 50% under this add-on cover.
Engine Protect Cover
The Engine Protect add-on offers coverage against any damage sustained by the engine and gearbox in case of lubricant leakage or water ingression in the insured car.
Engine Protect add-on is one of the most useful add-ons, as your standard car policy won’t cover your car’s engine.
NCB Protector
NCB Protector cover allows you to retain your NCB discount even after you register a claim in your previous policy.
This add-on saves your NCB from getting nullified even when you have raised a claim.
Tyre Cover
The Tyre add-on covers the policyholder against the cost of repair/replacement of tyres and tubes of the insured car.
Since the tyres and tubes are not covered in a package policy, this add-on can be helpful in times of uncertain tyre bulge.
Loss of Personal Belongings Cover
Loss of personal belongings add-on cover provides coverage for the loss or damage of personal belongings kept in the insured car.
However, the policyholder will have to pay Rs. 250 as deductible towards every claim made under this cover.
Key Replacement Cover
The Key Replacement add-on will cover the policyholder against the cost of repair/replacement of the insured car keys.
This add-on also includes labour costs if the original keys are lost, stolen or damaged.
Daily Car Allowance Cover
Under daily allowance add-on cover, the insurance company will pay a car allowance to the policyholder for
the cost incurred in hiring a transport if the insured car is getting repaired for damages
Return to Invoice Cover
Under return to invoice add-on cover, the insurance company will pay the policyholder the difference between the Insured's Declared Value (IDV) and the purchase invoice price
of the insured car in the event of a total loss or theft of the insured vehicle.
How to Renew Zurich Kotak Car Insurance?
Follow the below-mentioned steps for Zurich Kotak General Insurance Company renewal online:
Step 1: Visit the official website of Policybazaar Insurance Brokers Private Limited and select 'Car Insurance' from the homepage
Step 2: Enter your car number in the form provided and select 'View Instant' Quotes
Step 3: Add your name, email, mobile number and proceed
Step 4: Select the expiry date of your policy and whether you previously made a claim or not
Step 5: Find the Zurich Kotak car insurance plan from the mentioned plans. You can also view policy details by selecting the 'Policy Details' option.
Step 6: Select add-on covers you wish to add at an additional premium and proceed further
Step 7: Select the No Claim Bonus percent of your existing policy and proceed
Step 8: Fill out the proposal form correctly
Step 10: Make a payment using your preferred payment mode
Step 11: Once the payment is complete, your car insurance policy will be renewed. The Zurich Kotak car insurance renewal documents will be sent to your registered email address.
How to File a Claim Under Zurich Kotak Car Insurance?
Zurich Kotak car insurance ensures a seamless claim process if you approach it in the right way. In order to ensure a smooth claim with the insurer, follow the steps mentioned below:
1
Inform the Company:
The first step is to inform the insurance company immediately after the incident.
2
Register a Claim:
Register a claim by submitting a filled-in claim form. The claim assistance executive will guide you through the process.
3
Vehicle Inspection:
A surveyor from the insurance company will investigate the loss and estimate the damages sustained by the insured car. Don’t forget to carry the relevant documents that need to be handed over to the surveyor.
4
Claim Processing:
If it is a cashless claim, the expenses will be directly settled with the workshop/garage after the surveyor submits its report and the insurer verifies the documents. In case of a reimbursement claim, the expenses have to be paid by you initially but are reimbursed to you later.
Documents Required to Raise a Claim Under Zurich Kotak Car Insurance
These essential documents are required to raise a Zurich Kotak car insurance claim:
- Road Tax receipts
- Police FIR copy, in case of accident or theft claim
- A copy of the Registration Certificate (RC)
- Car insurance policy document
- A copy of the valid driving license
- Total repair bills and discharge voucher signed by you
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FAQs
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Q1: Why is IDV important in car insurance?
Ans: The Insured's Declared Value stands for the current market value of your vehicle. The IDV is decided at the beginning of a car insurance policy, which directly influences your car insurance premium. As it is based on the car's age and depreciation, the premium is higher for a vehicle with a high IDV and vice versa. In case of a total loss or damage, the insurer pays up to the IDV of your vehicle. Hence, IDV plays an important role in your car insurance policy.
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Q2: What are the risks covered under my Kotak Mahindra Third-Party Policy?
Ans: Third-party car insurance policy is a very basic kind of car insurance, which actually covers the liabilities towards the third party arising for:
- Legal expenses arising out of accidental injury
- Accidental property damage
- Accidental death or disability
- Damage to third-party car
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Q3: What is a cashless facility in Zurich Kotak car insurance?
Ans: Under the cashless facility of Zurich Kotak four-wheeler insurance, the policyholder can avail the car-repairing services free of cost by just paying the depreciation and deductible. With a zero depreciation cover, the car owner can avail the full IDV.
However, cashless services can only be availed at a network garage of the insurance company, where the insurer settles the claim amount by paying the expenses directly to the garage.
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Q4: What is the tenure of my Zurich Kotak car insurance policy?
Ans: Usually, a car insurance policy comes with a one-year tenure. However, the Zurich Kotak General Insurance Company also offers long-term car insurance policies. This is especially useful for new car owners who need to mandatorily buy third-party car insurance for at least 3 years under the latest IRDAI guidelines.
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Q5: What happens if the car registration city and city of usage are different?
Ans: To ascertain an accurate premium, the insurance company has to be provided with the exact location of where the car is registered. So, if your car is registered in another city and is being used in another city, you need to register with the concerned RTO of that location.
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Q6: How does residential location impact my car insurance premium?
Ans: The car insurance premium is decided based on certain factors. The location of car registration is one of them. A car registered in a metro city always tends to have a higher premium because of a higher probability of road accidents. As in the small cities, road risks are lower; hence, the premium tends to be less.
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Q7: Can I avail an insurance quote even if my car is not registered yet?
Ans: It is possible to avail quote from Zurich Kotak Car Insurance online when your car is not registered. The insurer sends a suitable quote for your vehicle with premium details based on the invoice date of your car. Furthermore, you can also use a Zurich Kotak Car Insurance Premium Calculator to calculate an estimated premium for your car. However, getting your car registered is mandatory to buy a Zurich Kotak car insurance plan.
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Q8: Is vehicle inspection before policy issuance is necessary?
Ans: A vehicle inspection is required in case your car insurance policy has lapsed. The inspection helps the insurance company to identify damages, if any. This, in return, helps to initiate a fast claim without any hassle.
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Q9: Can I change my car’s IDV?
Ans: Yes, you can change the IDV under Zurich Kotak car insurance up to a maximum of 10%. However, it is recommended to go with the options suggested by the insurance company, as a change in IDV may impact your premium adversely.
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Q10: Are there any discounts available on Zurich Kotak car insurance plans?
Ans: Yes, you can avail the following discounts on the purchase of a Kotak General car insurance policy:
- Early Bird discount
- Anti-Theft discount
- Discount on membership of the Automobile Association of India
- Voluntary Deductibles
- No Claim Bonus discount
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Car insurance companies
Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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Read more#Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.