Cashless Garages for Bike Insurance Policy

​What is Cashless Two Wheeler Insurance Policy?

Every general insurance company which offers bike insurance plans has tie-ups with certain garages (bike repair shops). At these partner garages, an insurance company settles a bike insurance claim in a cashless manner, i.e, it settles the repair bill directly with the garage. Thus, the policyholder is not required to pay anything to the garage for the repairs of their bike except their own liabilities.

While buying a bike insurance policy, you must check how many cashless garages are a part of the insurer’s network. The wider the network of cashless garages, the better it is.

Benefits of Cashless Bike Insurance Policy

When you get your bike repaired at a cashless garage, you enjoy the following benefits:

1. Hassle-free Experience

Since it is a cashless garage, i.e. a garage which is a part of the insurer’s network, you can enjoy a hassle-free claim process as everything will be handled by the insurer itself.

2. Priority in Service

The partner garages of insurance companies give priority in service to the insurer’s policyholders. Thus, at these network garages, you can expect to get speedy service.

3. Quick Claim Settlement

At cashless garages, the claim settlement happens quickly as compared to reimbursement claims which may take 7-10 days for settlement.

4. Guaranteed Quality Service

Every insurance company ensures that good quality service is given to its policyholders.

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Add-on Covers For Your Bike Insurance Policy

  • Zero Depreciation

    Like other assets, the value of your two wheeler also depreciates constantly with time and the liability of this expense by default rests with the policyholder. A zero depreciation add-on protects you against the depreciation expenses incurred by your bike. Thus, if you opt for a zero depreciation cover, depreciation expense of your bike is not deducted from your claim amount at the time of a claim settlement. This add-on is available with comprehensive bike insurance plans as well as standalone bike insurance plans. This is one of the most popular and recommended bike insurance add-on covers.

  • Invoice Protection

    In case of total loss (more than 70% damage) or theft of your bike, the insurance company pays you the Insured Declared Value of your bike as compensation. However, this Insured Declared Value (IDV) is less than the invoice price which you pay at the time of purchasing your bike. The Invoice Protection add-on cover helps you claim the Invoice Price, i.e. total ex-showroom price of your bike plus taxes plus registration charges, of your bike in case of total loss or theft of your bike.

  • NCB Cover

    No Claim Bonus is the reward which is given to the policyholder for not making any claim during the policy period. This reward is offered by the insurer in the form of a discount on the own-damage premium of the bike insurance policy at the time of policy renewal. The NCB ranges from 20% to 50% of the own-damage premium depending on the number of claim-free years. However, if you make even a single claim during the policy period this NCB gets lost. But, with the NCB Cover, you can keep your NCB intact even after making a claim during the policy period.

  • Engine Protection Cover

    The damages incurred by the engine of the two wheeler are by default not covered under a bike insurance policy. However, if you opt for an Engine Protection Cover, the insurer will be liable to compensate you for damages incurred by the engine of your bike such as damage due to leakage of lubricants, water ingress, hydrostatic lock, damaged gearbox, broken crankshafts or pistons and cylinders. The repair cost of the internal engine parts is often high and can sum up to thousands of rupees or more. Thus, addition of this add-on to your comprehensive or standalone 2 wheeler insurance policy can save you from these expenses.

Find Right Bike Insurance Quotes by Bikes Body Type

  • Scooter
  • Sport
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  • Commuter

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#Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.