Zurich Kotak Bike Insurance

Zurich Kotak Bike Insurance Policy - Key Features

*Disclaimer: The information in this table is for general reference only. For specific policy features, please refer to the Zurich Kotak bike insurance policy document.

Why Choose Zurich Kotak Bike Insurance Policy?

Check out the compelling reasons to buy Zurich Kotak two-wheeler insurance policy:

• Offers easy and quick bike insurance online purchase and renewal process online.
• Enjoy the benefits of cashless repairs at more than 4200 network garages across India.
• Get your two-wheeler insurance claims settled at a fast speed.
• The customer support team is available 24*7 to help you solve any doubts or queries.
• Customise your insurance needs with a variety of add-ons, such as zero depreciation cover or roadside assistance cover, to match your specific needs.
• Save up to 50% on own-damage policy renewal premiums with a No Claim Bonus for maintaining a claim-free record.

Types of Zurich Kotak Bike Insurance Policy

Zurich Kotak General Insurance, formerly known as Kotak, is a joint venture between Kotak and Zurich Insurance Company Limited. Initially, the company was wholly owned by Kotak . However, in June 2024, Zurich Insurance acquired a 70% stake in Kotak General Insurance Company Limited, becoming the majority shareholder.

Check out the different types of bike insurance policies offered by the insurer:

1. Two-Wheeler Protect - OD Only

   The Two-Wheeler Protect - OD Only policy covers damages to your own bike and is available only if you already have a valid third-party liability insurance policy for your bike. The OD bike policy covers the losses arising due to theft or burglary. This type of policy is commonly known as own-damage bike insurance policy.

2. Long-Term Two-Wheeler Secure - Liability Only

   The Long Term Two-Wheeler Secure-Liability Only policy offers coverage only for third-party liability. This plan is valid for a duration of three years and does not cover damages to your own bike. Hence, it is termed as a third-party bike insurance policy.

3. Long-Term Two-Wheeler Secure

   This comprehensive bike insurance plan by Zurich Kotak General Insurance provides complete protection for your two-wheeler by covering damages to your own bike as well as any third-party claims and their property. This policy is valid for three years, and you also have the option to enhance your coverage with add-ons.

4. Long Term Two-Wheeler Secure Bundled

   The Zurich Kotak bundled bike insurance policy provides a combination of two different coverages for your vehicle. It includes three years of protection for third-party liability and one year of coverage for damages to your own bike. Notably, the bundled plan is specifically designed for new bikes or scooters.

5. Long-Term Two-Wheeler Secure Liability Only - 5 Years

   This bike insurance policy is focused solely on third-party liability and is available for five years. It covers damages or losses you cause to other people and their property. This policy is also available only for the new two-wheelers.

*Disclaimer: The inclusions and exclusions listed above are for informational purposes only. For complete details, please refer to the policy document.

Depreciation Rates for Different Parts of a Bike

Here are the depreciation rates for different parts of the two-wheeler:

• Nylon, Plastic, and Rubber Parts (e.g., airbags, batteries, tyres, and tubes): Subject to 50% depreciation
• Glass Parts: No depreciation applies
• Fiberglass Parts: Subject to 30% depreciation
• Paint Materials: Subject to 50% depreciation
• Other Components (including wooden parts): Depreciation rates will be as specified in the policy document.

Depreciation Based on the Age of the Bike

Take a look at the depreciation rates of the two-wheeler on the basis of its age:

*Disclaimer: The depreciation rates highlighted in the table above are only for reference purposes. Please check the policy document to know the exact terms and conditions.

Personal Accident (PA) Coverage for Bike Owners

Zurich Kotak bike insurance offers a personal accident cover of up to ₹15 lakh for the owner/driver of the two-wheeler. The benefit amount is paid in case of permanent and total disability of the owner/driver or death due to an accident. The payout is based on the following scale:

Important Points to Consider Under Personal Accident (PA) Cover

Zurich Kotak General Insurance will provide Personal Accident compensation only for any one condition included in the table above, and the maximum liability of the insurance company for any policy period will not extend ₹15 lakh. Moreover, the insurer will not provide compensation if the death or injury is caused by intentional self-harm, suicide, pre-existing physical issues, or accidents occurring while the driver is under the influence of alcohol or drugs.

How to Buy/Renew Zurich Kotak Bike Insurance?

Listed below are the steps for buying or renewing your Zurich Kotak Bike Insurance policy through the official website of Policybazaar Insurance Brokers Private Limited:

• Step 1: Visit Policybazaar.com, hover over the 'Insurance Products' section, and pick 'Bike Insurance' from the dropdown menu.
• Step 2: Enter your bike's registration number and click 'View Prices'. In case of unavailability of the registration number, simply choose 'Bought a New Bike' to proceed.
• Step 3: Choose the appropriate details related to your bike, like model, city, variant, RTO, etc., then click on 'View Plans'.
• Step 4: Browse through the list of plans and select the Zurich Kotak bike insurance plan that best fits your requirements.
• Step 5: Opt for either third-party coverage or comprehensive coverage.
• Step 6: If you want extra protection, consider adding add-on covers like roadside assistance cover, zero depreciation cover, engine protection cover, or others that might suit your needs.
• Step 7: Complete the payment process using your preferred payment method. Once your payment is successful, the policy document will be sent directly to your registered email ID.

How to File a Zurich Kotak Bike Insurance Claim?

Zurich Kotak bike insurance claims under different scenarios can be filled by following the steps below:

1. For Theft Claim

   The steps to follow to raise a theft claim are as follows:

   • Step 1: Inform about the incident to the closest police station and obtain the First Information Report (FIR).
   • Step 2: Share the copy of the FIR with your two-wheeler insurance provider.
   • Step 3: The insurance company will appoint a surveyor to analyse the case.
   • Step 4: Notify the Regional Transport Office about the theft incident.
   • Step 5: Gather and submit the required documents to file a claim.
   • Step 6: If your bike remains untraceable for one month, get an 'untraceable report' from the police to finalise your bike insurance claim.

2. Accident Claim

   The following are the steps to raise an accidental claim:

   • Step 1: Notify your insurance provider about the accident and fill out the claim form available on their website.
   • Step 2: A surveyor will visit the accident site to assess the extent of damages or losses caused to the insured vehicle.
   • Step 3: Proceed further by submitting the supporting documents.
   • Step 4: In case of a cashless claim, the insurer pays the repair bill directly to the authorised network garage for repairing those damages. In case of a reimbursement claim, send your damaged bike to any of your nearest garages. Here, you have to pay the repair bill upfront, and the insurer will refund the same later directly into your bank account.

3. Third-Party Claim

   Here are the steps to follow to file a third-party claim:

   • Step 1: Brief the accident details to your bike insurance company.
   • Step 2: Submit any court summons to the insurer.
   • Step 3: Complete, sign the claim form, and submit it
   • Step 4: Provide all required documents to the insurer.
   • Step 5: The Tribunal court will review the case and make a decision accordingly.

Documents Required for Raising Zurich Kotak Bike Insurance Claims

The documents required for raising different types of bike insurance claims are as follows:

1. For Theft Claims

   If your bike is stolen, you will need:

   • A signed claim form
   • FIR reporting the theft
   • RC copy of the bike and all original keys
   • Original insurance policy document
   • A 'no-trace report' from the police confirming that the bike cannot be found
   • Driving Licence (DL)

2. For Accident Claims

   For claims due to accidents, have the following documents ready:

   • Completed and signed claim form
   • Owner's Driving Licence (DL)
   • Original RC of the vehicle
   • Repair invoice and payment receipt (Only invoice is needed if the bike is repaired at a cashless network garage)
   • Copy of the first two pages of the insurance policy
   • Motor Collision Report (MCR) or FIR
   • Original repair estimate

3. For Third Party Claims:

   For claims involving third-party damages or injuries, you will need:

   • Signed claim form
   • Original driving licence
   • Police FIR
   • RC copy of the bike
   • Current two-wheeler insurance policy document
   • A stamp if the bike is registered under a company name