Cashless Garages for Bike Insurance Policy
A cashless garage refers to a garage that has a tie-up with the motor insurance company. If the policyholder takes their two-wheeler for the repair purpose to any of the listed garages, then they are not required to pay anything. The whole repair bill would get directly settled by the insurance company.
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What is Cashless Two Wheeler Insurance Policy?
Cashless claim in bike insurance is a service designed to get the policyholder’s bike repaired without making him or her pay anything. Under this concept, two wheeler insurance companies are liable to bear the expenses of bike or any two-wheeler repair on behalf of policyholders. This facility saves you from paying the repair expense of your bike just after the accident.
The cashless bike insurance claim process requires lesser documentation to submit and fewer formalities to go through when compared to the reimbursement claim process. Under this facility, the insurer immediately sends a surveyor to the spot or garage after the mishap to assess the damage extent based on which the insurer settles the claim that brings pace and transparency in the process. Also, the insurers attain quality garages in their network to offer cashless claims which give you the best repair service free of cost.
There are several general insurance companies in India that offer reliable two wheeler insurance plans. In order to provide cashless services to the policyholder, these insurance companies have tie-ups with numerous garages for their convenience. In these partner garages, the policyholders can avail cashless services. this means, that they are not required to pay anything at the garage, but the insurance company will settle the repair bill directly. So, when buying bike insurance plans, it is important to check the list of cashless garages that the insurance company has tie-up with. The greater the number of network garages, the better it is.
Advantages of Cashless Bike Insurance
When you get your bike repaired at a cashless garage, you enjoy the following benefits:
1. Hassle-Free Process
If you avail services at a cashless garage, then the insurance company handles everything by itself. This makes the process hassle-free for you.
2. Speedy Services
You can enjoy speedy services when availing cashless services at the network garage. This is because these garages give priority to the insured individuals thereby keeping them at ease.
3. Smooth Claim Settlement
Cashless garages offer a quick and smooth claim settlement process, which otherwise may take quite a few days.
4. Reliable Garages
Insurance companies are persistently on the watch out for the up-gradation of their cashless garage empanelled list in order to make it more inclusive. The empanelled garages are specifically presented with a proven track record of customer satisfaction and up to date services. Also, these networked garages are reliable, offer genuine spare parts and charge tariff according to industry standards.
5. Peace of Mind
The unexpected accident or mishap leaves you affected not just mentally and physically but also financially. However, opting for a cashless facility reduces the need to arrange for cash on an urgent basis and also ensures a smoothly running claims process, starting from surveying the damage to the point of claim settlement.
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Steps To Get Claim for Cashless Bike Insurance
Given below are steps to follow at the time of cashless bike insurance claim settlement:
Step 1: In case of third-party damage, register an FIR at the nearest police station from the place of the accident. Also, remember to take a copy of the FIR.
Step 2: Contact and inform your insurance company either online or offline, whichever is possible sooner. The insurance company will send a surveyor and notify you regarding the nearest cashless garages according to its partner garages list.
Step 3: After shortlisting a garage, contact them to get your bike repaired. Also, it is recommended that you should select a garage depending upon the brand/manufacture speciality. Once the bike repair is done, sign the necessary documents and collect your bike.
Step 4: Collect the invoice of the garage and the bill is paid by the insurance company. You are required to pay just for the amount of repair that is beyond your bike insurance coverage.
What Happens If The Policyholders' Bike Does Not Get Repaired At a Cashless Network Garage?
If your bike is not repaired at one of the insurance company’s network garages, then you are required to pay for the repairs from your own pocket and the amount is later reimbursed by the insurance company.
Steps To Make a Reimbursement Bike Insurance Claim Settlement
Highlighted below are steps needed to make a reimbursement claim settlement for two-wheelers
Step 1: Inform And Initiate the Claim
Begin by informing the insurance company regarding the accident involving the insured bike. This can be done either through email or contact their customer care executive. Afterward, you will be provided with a claim reference number from the insurer.
Step 2: Surveyor Assigned By Insurance Company
A surveyor is assigned by the insurance company to assess and inspect the damage caused to the bike in the accident. The policyholder needs to submit all the important documents to the surveyor so as to quickly initiate the claim process.
Step 3: Bike Repairs
After inspection, you are required to get your bike repaired at the nearest garage. At times, insurance companies offer free towing facilities up to Rs 1500. Moreover, charges for towing may vary for different insurance companies.
Step 4: Reimbursement of Claim
You are required to pay the repair amount and initiate the reimbursement process with the insurance company, which would issue the amount after working out the deductibles.
Documents Needed for Filing A Bike Insurance Claim
According to the different claim categories, a number of documents are required to file for a bike insurance claim. Let us know more about the documents needed.
In Case of Accidental Claim
The list of documents includes:
- Two-wheeler Insurance Copy
- A copy of the tax receipt and registration book
- FIR Copy
- Driving License
- An estimate of total garage repair
- Original payment receipt and repair invoice
- Other documents as asked by the insurance provider
In case of Two-wheeler Theft Claim
The list of documents includes:
- A duly filled claim form
- Registration copy of the two-wheeler
- Policy Document
- Previous insurance information like policy number, insurance provider etc (if necessary)
- Original FIR
- Subrogation Letter
- A copy of the acknowledgment letter to RTO informing regarding the incident.
- Claim Discharge Voucher
- Any other document (if the insurance company asks for it)
In Case of any Third Party Claims
The list of documents includes:
- A duly filled claim form
- A copy of FIR
- Police Document
- A copy of driving license
- RC certificate of the vehicle
- For any commercial vehicle, a stamp is needed along with the original documents
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Cashless Garages for Bike Insurance FAQs
What is Cashless Claim and Non-Cashless Claim in Two-Wheeler Insurance?
When you file a claim there are two ways in which the policyholder can receive reimbursement for their losses; cashlessless claim or non cashless or reimbursement claim. In case there is an accident where the two-wheeler needs to be repaired and the claim has been approved by the insurance provider you can take it to the garage. If you choose a network garage, the mechanic and the insurance provider will handle the repairs in a cashless manner directly. These garages have tie ups with the insurance provider and provide high quality and efficient service. However, if you select a garage that does not have such a tie up with your insurance provider, the amount will be reimbursed to you later. You will be required to submit the original invoice of the repairs before you receive the reimbursement. Reimbursement claims have higher out-of-pocket costs.
How to File a Cashless Claim for Your Two-Wheeler?
Follow the below mentioned steps to file a cashless claim for your two-wheeler in case of a mishap:
Step 1: Inform the insurance provider about the mishap as soon as possible. You can contact them easily by using their 24x7 helpline. Make sure to confirm the loss of documents you need to provide, they may differ depending on your situation.
Step 2: In case there was a theft, case of vandalism, serious accident or involvement of a third party file an FIR at the nearest police station as soon as possible You will be needing the FIR for the claim process.
Step 3: Submit all the required documents along with the claim form duly filled to the insurance company at the earliest. They can then formally begin the claim procedure.
Step 4: If the two-wheeler needs to be repaired it will be first surveyed for the extent of damage. After this the claim will go through a verification process before it can be approved.
Step 5: Once the claim has been approved you can take your two-wheeler to the nearest network garage. After the repairs are done to your satisfaction the garage will make you sign a form to testify that you were happy with repairs. Once this is done the insurance provider will take care of the two-wheeler repair charges directly with the insurance provider.
How to Purchase Two-Wheeler Insurance With Cashless Garages?
Following are the steps you need to take to purchase a two-wheeler insurance cover that offers cashless garages for the claim procedure:
Step 1: Visit InsuranceDekho and select the ‘two-wheeler insurance’ option from the rabs on the home page.
Step 2: In the provided section enter the registration number of your two-wheeler. In case you do not have this, you can enter the make, model and year of registration of the two-wheeler instead.
Step 3: After this you will be required to enter your personal details, i.e., your name and mobile number. Once you have entered this click on the Submit and Get Quotes button.
Step 4: All the quotes for two-wheeler insurance in your category will be visible on the screen. Select the policy offered by the insurance provider of your choice. Ensure that this insurance company has a wide network of cashless garages in your location.
Step 5: Make the payment for your selected two-wheeler insurance. This can be done one of the many online payment methods. After the two-wheeler insurance is paid for the insurance document will be sent to your registered email ID.
What is Not Covered By a Cashless Two-Wheeler Insurance Policy?
Following are the aspects not covered by two-wheeler insurance that offers its customers cashless garages in case of an accident:
1. In case there is a mechanical or electrical breakdown that affects the two-wheeler.
2. If there is damage caused to the two-wheeler due to a deliberate effort.
3.If there is damage caused to the two-wheeler due to its regular wear and tear, i.e. depreciation.
4. If the damage caused is due to consequential loss
5. If the damage caused was done by a driver without a valid licence
6. If the damage to the two-wheeler occurred outside the territorial limits of the country.
7. If the damage was caused due to some form of illegal driving or misuse of the two-wheeler.
Which is the Best Type of Cashless Two-Wheeler Insurance Policy?
When purchasing insurance for your two-wheeler make sure to understand the basics of two-wheeler insurance. There are three types of insurance offered to two-wheelers in India. The third party insurance for two-wheelers is compulsory, it takes care of third party liabilities and if caught without it you can be punished. The standalone own damage cover is not compulsory. It will take care of your two-wheeler in several different scenarios and offers network garages where your car is fixed and repaired in a cashless manner. A comprehensive two-wheeler insurance, the last type, offers coverage for both own-damage costs and third party liabilities under a single premium. It offers the most well rounded coverage for your two-wheeler and offers cashless garages where you can get your two-wheeler repaired in case of a mishap.
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