Cashless Claim Facility In Two Wheeler Insurance Policy - Know Everything!
Updated On Jan 22, 2022
The true goal of an insurance policy is to protect the policyholder in the event that he or she files a claim.
The true goal of an insurance policy is to protect the policyholder in the event that he or she files a claim. The sole aim of acquiring an insurance policy is to achieve this goal. Also, make sure you bought your insurance policy from a firm with a large network of garages, as well as policies that allow you to file a claim without having to pay any money. What is a cashless claim, exactly?
Know Everything About Cashless Claims In A Two-Wheeler Insurance Policy
You go to the garage that is registered with your insurance company when you have an accident and your bike has to be repaired. When your bike is entirely repaired, you submit it and file a claim for it. The bill is sent to your insurance provider, who verifies the information and pays the payment. You may be required to pay a small mandatory deductible in this case. What do you mean by deductible, by the way? A deductible is an amount you must pay out of pocket before the insurance company will satisfy your claim. The amount per escalated claim under two-wheeler insurance is Rs. 100.
What is the mechanism behind it?
When you buy a policy from a certain insurance provider, they have a list of registered two-wheeler garages and workshops. You can simply find them both online and in your policy documentation. You may also inquire about it by calling the customer care representative. When you have an accident and it has to be repaired, you must take it to a licensed garage, but first, the insurance company will evaluate the bike and the damage it has sustained. The person inspecting the two-wheeler will approve the cashless claim, and the workshop will begin fixing the two-wheeler after it has been approved. When the bike is fixed, the garage will send the bill to the insurance company, who will review it and then pay it.
- Cashless Claim Benefits
Because this is the sole reason a person buys insurance. Cashless claim settlement also has a number of advantages. The following are some of them:
- Payment is not a Concern
Getting your claim resolved might be one of the most frustrating experiences. However, if you ensure that the insurance you get from the firm allows for cashless claims, it becomes a lot easier and less stressful. You are just responsible for the deductible, which is a minimal sum.
- There's no need to pay Anything
As the word "cashless" implies, you will not be required to pay any money to the garage for the repair of your two-wheeler other than the deductible. If the firm does not provide a cashless claim option, you will have to pay for the repair yourself and the company will repay you within a few days.
An insurance company's greatest service is the cashless claim. So, before you buy a policy, do your homework and see which insurers provide a cashless claim option. Furthermore, purchasing the insurance policy online will make things easier for you because you will be able to obtain all of the required information as well as compare different policies. You may also compute the premium amount, which will be less expensive than acquiring the coverage in person.
Also Read: 10 Tips For Riding In Heavy Traffic
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.