Cashless Car Insurance Process Explained
Updated On Oct 16, 2023
Read this article to understand cashless facility in car insurance and how it is beneficial for you.
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Cars are one of the most highly regarded modes of transportation in India. A large number of people rely on cars to get around on a daily basis. It is inexpensive, simple to maintain, and effective at avoiding traffic. Owning such a valuable possession necessitates the purchase of a policy that will assist you financially if the car is damaged. Your car insurance provider will handle the repairs, which is a cashless service.
What Is The Cashless Facility Provided By Your Insurance Company?
When your car is towed to a network garage, you will be able to make a cashless claim on your car insurance. Your insurance company will also pay for the costs of repairing the damage to your car. Thus, repair work is cashless, and no money is required from your end to pay for the repair services. This insurance claim is referred to as a cashless claim because you are not required to pay for repairs. The network garage and the insurance company conduct the transaction directly.
How Does The Cashless Facility Work?
A simple concept underpins cashless claims for car insurance. Insurance companies frequently have affiliations with various garages. These are referred to as network garages. This is done for both the garage and the company's benefit. This is also convenient for policyholders.
If your car has been damaged, your first step should be to notify your insurance provider and take your car to the nearest network garage. The list of network garages will be available on your insurance company's website.
When you take your car to an authorised service centre, the survey team from your insurance company will inspect it before it is repaired. The cashless claim will then be approved by the representative, and the car will be repaired.
When the repairs are completed, the bill, along with the other required documents, is sent to the insurer to settle the claim. The insurer then validates the bill and pays the amount covered by the insurance policy for the repairs. All accessories and gadgets that are not covered by the policy will be at your own expense.
What Are The Advantages of Cashless Claims?
Having an insurance policy that allows for cashless claims is extremely beneficial in the following ways:
The Policyholder's Convenience
Insurance companies maintain network garages in a variety of locations. Having an insurance policy that allows for cashless claims also means that in the event of an accident, you won't have to worry about finding a reputable garage to repair your car. You can take your car to a network garage, which will repair any damage to your car.
Direct And Cashless
It can be stressful to have your prized possession damaged. Having a cover to arrange finance and handle repairs during this stressful time makes things easier. After surveying your car, the network garage will begin all repairs and send the bill, along with the other documents, directly to the insurance company. The bill is then validated and paid directly to the garage by the company. It saves you a lot of time and money this way.
The majority of insurance companies guarantee a good network of garages. This is primarily beneficial in terms of completing services with minimal effort on the part of the policyholder. It is very convenient and efficient to have easily accessible garages to repair your damaged car.
The cashless facility in a car insurance policy is a significant advantage because it provides you with peace of mind while riding the bike. Professional mechanics will repair any breakdowns or damage as soon as possible. Your insurance company will also cover the cost of the repairs, so you won't have to worry about it. Check out this cashless policy and drive safely!
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.