What Is Cashless Claim Services In Bike Insurance?

.Two-wheelers are the preferred mode of transport in India. A large group of people rely on two-wheelers for their daily commute and to run errands. They are popular in India because they are easy to maintain, fastest in traffic and economical as well. These attributes make it extremely popular in India. It is important that you keep the policy as it is not only mandatory but also helps you financially if there is any damage done to the two-wheeler.

What is Cashless Claims?

Cashless claims in motor insurance are the same as the cashless settlement in health insurance. Here too, in case of some damage when your two-wheeler goes to a network garage. The repair work is done cashless, and no money has to be paid towards the services. The transaction here is done between the garage and the insurance company.

There are primarily two types of insurance policies:

1. Third-party liability insurance

2. Comprehensive insurance

Third-party liability insurance covers the expenses that may arise due to an accident. This cover provides legal and medical aid in case of some unforeseen event. 

Comprehensive Policy, as the name suggests, is a complete policy that gives much more coverage than third party liability. It protects the bike from financial liabilities that may arise due to any damage. The damage can be of any nature. It can be manmade or natural. Both will be covered by the insurance company.

Functioning Of Cashless Claims 

Insurance companies have a tie-up with garages across areas for the convenience of the insured. Based on the inclusions and exclusions, the garages repair your vehicles. The total bill for repair is sent directly to the insurance provider. After a brief verification process, the insurance company pays the bill to the garage.

What Are The Benefits Of Cashless Service?

Convenient –

Cashless claims are convenient. In case of a mishap, you don’t have to worry about a trusted garage or where you should take the bike. You can just take it to a network garage.

Cashless –

Possibly the biggest advantage one can look for when things are not right. When your two-wheeler is damaged, you are already dealing with a lot of stress. Arranging for liquid funds takes its own toll. So, in such moments, a cashless facility is like a blessing in disguise.

Easy Access –

Most insurance companies have a good network of garages to ensure that the insured vehicle easily gets serviced when it needs to. This is a very important feature and the broader the network; popular will be the requirement for their cashless services.

What is the procedure for Cashless Services on Two-Wheeler Insurance?

Whether you’ve chosen Third-party or Comprehensive Motor Insurance, below the step by step process to raise a claim. The steps are as follows:

  1. In case of an accident, get the registration number of the other vehicle.
  2. Also, try to get the contact details of the people present around the scene.
  3. Immediately inform the designated insurance company.
  4. File for an FIR, in case of an accident.
  5. Fill the form for cashless claim.
  6. Insurance surveyor will conduct an inspection of damaged items.
  7. You need to submit requisite documents to showcase the exact loss.
  8. The insurer will get in touch with you and approve your case.
  9. An expert will assess your case and approve the claim amount

There a lot of cases where claims are not settled either due to lack of proper documentation or delay in requesting for claim. Hence, if you want to take advantage of cashless services, make sure you follow a step by step process to enjoy hassle-free and cash-free two-wheeler claims.