How exactly does cashless commercial auto insurance policy work?
There are few steps in cashless settlement of motor insurance policy claims:
- The insured buys a vehicle insurance policy from a company that has tie-ups with a wide network of garages in the country.
- If the insured vehicle damages itself during an accident, the policy holder can choose to get it repaired at one of the garages from the network.
- The insurance company pays the garage directly for the repair work done on the vehicle.
- The insured is only required to pay on the deductibles and for depreciation of replaced parts.