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.
What is your bike's brand?
Bike Insurance for Popular Bike Models
Add-on Covers For Your Bike Insurance Policy
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.
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.
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.
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
- View TVS Jupiter Insurance Quotes
- View Honda Activa 6G Insurance Quotes
- View Honda Dio Insurance Quotes
- View Suzuki Access 125 Insurance Quotes
- View Honda Activa 125 Insurance Quotes
- View TVS NTORQ 125 Insurance Quotes
- View TVS XL100 Insurance Quotes
- View Yamaha Fascino 125 Insurance Quotes
- View Kawasaki Ninja 300 Insurance Quotes
- View Yamaha YZF R15 V3 Insurance Quotes
- View Bajaj Pulsar NS200 Insurance Quotes
- View Bajaj Pulsar 220 F Insurance Quotes
- View Bajaj Pulsar RS200 Insurance Quotes
- View TVS Apache RR 310 Insurance Quotes
- View KTM RC 200 Insurance Quotes
- View Yamaha FZS-FI V3 Insurance Quotes
- View Bajaj Avenger Street 220 Insurance Quotes
- View Royal Enfield Classic 350 Insurance Quotes
- View Royal Enfield Bullet 350 Insurance Quotes
- View Bajaj Avenger Street 160 Insurance Quotes
- View Bajaj Avenger Cruise 220 Insurance Quotes
- View Jawa Perak Insurance Quotes
- View Jawa 42 Insurance Quotes
- View Suzuki Intruder Insurance Quotes
- View Hero Splendor Plus Insurance Quotes
- View Bajaj Pulsar 150 Insurance Quotes
- View TVS Apache RTR 160 Insurance Quotes
- View Hero HF Deluxe Insurance Quotes
- View Hero Passion Pro Insurance Quotes
- View Honda Shine Insurance Quotes
- View Bajaj Pulsar 125 Neon Insurance Quotes
- View Hero Glamour Insurance Quotes
Bike Companies User Reviews
Latest Bike Insurance News
- Benefits of Timely Two Wheeler Insurance Renewal
Learn benefits of timely online two wheeler insurance renewa...17 September 2020
- Two Wheeler Insurance Claim Rejection Reasons
Learn 7 reasons for rejection of two-wheeler insurance claim...15 September 2020
- How to Change Two Wheeler Insurance
If you want to change your insurer in the middle of your pol...14 September 2020
- Everything About Bike Insurance Types, Benefits an...
What are the types of two-wheeler insurance in India? Why is...11 September 2020
- Understand Theft Cover of Two-Wheeler Insurance Pl...
Understand Theft Cover of Two-Wheeler Insurance Plans10 September 2020
- Cashless Facility in Two-Wheeler Insurance
Cashless Facility in Two Wheeler Insurance. Discover benefit...09 September 2020