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Cashless Facility In Two-Wheeler Insurance Policy Explained

Published On May 18, 2021 11:00 AM By InsuranceDekho

Read this article to understand what are cashless facilities that are offered by the insurance companies for two-wheeler insurance.

Two-wheelers happen to be one of the most preferred modes of transportation in India. A large group of people rely on two-wheelers for commuting on a daily basis. It is economical, easy to maintain, and effective in escaping traffic. Owning such a valuable possession will require you to have a policy that helps you financially if there is any damage to the two-wheeler. The repairs taken care by your bike insurance provider is the cashless facility that they provide. 

Cashless Facility In Two-Wheeler Insurance Policy Explained

What Are Cashless Claims?

Cashless claims in two-wheeler insurance will come into play when your two-wheeler is sent to a network garage. And the cost incurred to repair the damage caused to your two-wheeler will be paid by your insurance provider. Therefore, the repair-work is cashless and no money has to be paid for the repair services from your end. Since this insurance claim does not require you to pay any money for repairs, it is termed as cashless-claim. The transaction is done directly between the network garage and the insurance company. 

How Do Cashless Claims Work?

Cashless claims for two-wheeler insurance work on a simple concept. Insurance companies usually have tie-ups with various garages. These garages are termed as network garages. This is done to mutually benefit both the garage and the company. This also makes it convenient for the policyholders. 

In case there has been any damage to your two-wheeler, your primary step should be to inform your insurance provider and take your two-wheeler to the nearest network garage. The list of the network garages will be listed on the website of your insurance company. 

When you take your two-wheeler to an authorized service center, the insurance company's survey team will inspect your vehicle before it undergoes repairs. The representative will then approve the cashless claim after which the two-wheeler can undergo repairs. 

On the completion of the repairs, the bill is sent to the insurer to settle the claim along with the other necessary documents. The insurer then validates the bill and pays the amount for the repairs that is covered by the insurance policy. The costs of all accessories and gadgets that are not covered by the policy will be under your expense. 

You may also like to read:- Cashless Car Insurance Claims Explained

What Are The Benefits Of Cashless Claims? 

Having an insurance policy that offers cashless claim facility proves highly beneficial in the following ways- 

  • Convenience To The Policyholder

Insurance companies have network garages in many locations. Having an insurance policy that offers cashless claims also implies that in case of any accident, you will not have to worry about finding a trusted garage where you can repair your two-wheeler. You can take your two-wheeler to a network garage that will tend to all the damages caused to your bike. 

  • Cashless And Direct 

Having your prized possession damaged may be stressful. Having a cover to arrange finance at this stressful time and handle your repairs is something that makes things easier. Once your two-wheeler has been surveyed, the network garage will commence all the repairs and send the bill along with the other documents directly to the insurance company. The company then validates the bill and pays it directly to the garage. This way, it spares you lots of effort and money. 

  • Easy Accessibility

Most insurance companies ensure a good network of garages. This is mainly fruitful in getting the services done with minimal effort of the policyholder. Having easily accessible garages to repair your damaged two-wheeler is very convenient and efficient. 

Must Check

Two Wheeler Insurance Renewal

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Also read 

Cashless Car Insurance Claims Can Be Made In 5 Simple Steps

Take Away 

The cashless facility in two-wheeler insurance policy is a major benefit as it gives you peace of mind while riding the bike. Any breakdown or damage will be repaired with minimum delay by professional mechanics. The repairs are also taken care of financially by your insurance company with no hassle. Make sure to check out this cashless policy and ride safe! 

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.

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