WHAT IS CASHLESS TWO WHEELER INSURANCE POLICY

A cashless two-wheeler insurance is always a better choice, when getting your vehicle insured. You can get your two-wheeler fixed at any of the listed garages with a cashless two-wheeler insurance policy without having to spend anything out of pocket. To offer services to the insured, the majority of insurers have partnerships with numerous garages. You can bring your bike to any of these shops, and it will be fixed in accordance with the cover you selected. After the repairs are finished, the insurer receives the bill directly. The money would then be paid to the garage directly by your insurer.

 

 

 

It is crucial that you notify the insurer of the damage before making any repairs. The insurer would pay for the damages that your insurance would cover, but you would be responsible for any further damages. For instance, electrical problems are typically not covered by bike insurance coverage.

Occasionally, it could be too challenging to use a cashless service. For instance, if your bike breaks down in a remote area where the cashless garage is located, you can pay for the repairs out of your own pocket and get a reimbursement from the insurer. However, you should notify the insurer of the damage as soon as you can to give them time to evaluate the damage and handle your claim.

What Are Cashless Claims?

When your two-wheeler is delivered to a network garage, cashless claims for two-wheeler insurance will be applicable. Your insurance company will also cover the expense of repairing the damage done to your two-wheeler. As a result, there is no need for payment from your end in order to complete the repair operation. This insurance claim is referred to as a cashless claim because you are not required to pay any money for repairs. The network garage and the insurance provider do their business directly.

How Do Cashless Two Wheeler Insurance Work?

The principle behind cashless claims for two-wheeler insurance is straightforward. The majority of garages have relationships with insurance providers. Network garages are what these garages are known as. The garage and the business both gain from doing this. The policyholders will also find it convenient as a result.

The first thing you should do if your two-wheeler has been damaged is notify your insurance company and drive it to the closest network garage. Your insurance company's website will provide a list of the network garages.

Before any repairs are made to your two-wheeler, the insurance company's survey team will examine it when you bring it to an authorised servicing facility. The two-wheeler can then undergo repairs if the representative approves the cashless claim. When the repairs are finished, the bill and other required paperwork are forwarded to the insurer to settle the claim. The cashless claim bike insurance company then verifies the invoice and pays the repair costs that are covered by the insurance policy. You will be responsible for paying for any extras or devices that are not covered by the policy.

What Advantages Do Cashless Two Wheeler Insurance Offer?

The following benefits of having a bike insurance coverage with a cashless claim option are significant:

1. Comfort for the Policyholder

Network garages are a common feature of insurance firms. If you have insurance that allows cashless claims, you won't have to worry about locating a reputable shop to fix your two-wheeler in the event of an accident. You can bring your two-wheeler to a network garage, which will take care of any damage your bike has sustained.

2. Direct and Cashless

It could be upsetting to have a beloved property damaged. It makes things simpler to have a cover to handle your repairs and arrange financing during this difficult time. After inspecting your two-wheeler, the network garage will start any necessary repairs and transmit the bill and supporting documentation straight to the insurance provider. The business then verifies the invoice and pays the garage directly. It saves you a tonne of time and money this way.

3. Easily Accessible

The majority of insurance providers guarantee a strong garage network. This works best when the insured puts up the least amount of effort possible to obtain the services. It is very practical and effective to have garages nearby where your broken two-wheeler can be repaired.

How To Make A Claim Under A Cashless Two Wheeler Insurance Policy?

To submit a cashless two-wheeler insurance claim, follow these steps:

• Step 1: If a third party was involved, make a note of their name, address, and licence plate number if they were also operating a car.
• Step 2: Write down any witnesses' contact information.
• Step 3: Report the occurrence to your insurance provider and find out where the closest cashless garage is located on their network.
• Step 4: Submit a FIR and obtain a copy of the report at the closest police station.
• Step 5: Give the insurer all the necessary paperwork. To collect the same, a representative will get in touch with you.
• Step 6: A surveyor from the insurer would examine the damage and estimate the associated costs. The repair work would begin at the garage as soon as the approval was given.

Keep in mind that your safety should always come first. Give your medical care top priority if you were hurt in the collision. When you are able to, you could notify the insurance; alternatively, you could ask a representative to do so on your behalf.

It's likely that your cashless claim bike insurance policy won't cover all costs. To ensure that you are aware of coverage and exclusions in bike insurance, please carefully read the policy terms and conditions. This makes it easier to prevent any unpleasant surprises at the time you need.

FAQs - Frequently Asked Questions

Q1. Can I submit a claim after fixing my bike's damages?

In order to prevent the claim from being denied, it is crucial that you let us know about any damage to your bike before having it fixed. You have two options for bike repairs: either you utilise our network garage and benefit from a cashless claim facility, or you submit a claim for repayment of the repair costs.

Q2. How many claims am I allowed to submit under my cashless two wheeler insurance policy?

The number of legitimate claims you may file during the insurance period is unrestricted. To benefit from the No Claim Bonus (NCB) discount, it is advised.

Q3. What does a two-wheeler insurance non-cashless claim entail?

When you have to pay the repair bill out of your own pocket before filing a claim for reimbursement under your bike insurance, this is referred to as a non-cashless claim.

Q4. Why should you choose cashless insurance for a bike?

The cashless bike insurance gives you peace of mind by providing a hassle-free, paperless, and quick claim settlement process. You won't have to pay out of pocket to fix the damages.