Two-wheelers are among the most widely preferred modes of personal commute in India. The convenience, lower maintenance and affordability of these vehicles have made them extremely popular among the middle class. With the entry of luxury bikes in India, the market expanded itself to new horizons in the last couple of decades. Just like other vehicles, Third-Party Insurance cover is mandatory as per legal guidelines in India.
It is important to ensure you have a valid insurance policy when you ride a bike. Also, it is good to be aware of the benefits associated with a Comprehensive Insurance Plan that will provide cover for damage to your vehicle as well. Many insurance companies offer a cashless facility that offers bike service in any of the network garages without any upfront payment. The insurance company has a list of garages associated with them to provide such a facility.
In the last few years, the cashless facility has gained immense popularity in different insurance sectors, especially health insurance. The companies have expanded these offerings to the automobile sector to widen the array of facilities they can offer to the customers. To avail the cashless facility and to understand its importance, you should know what it is and how it works.
What is a cashless claim?
The cashless claim is a service offered by the insurance company in association with the service centers. When you file a cashless claim, the garage will send the bill directly to the insurance company after completing the work. The company will pay the amount to the garage without bothering you in the process. Please note that there are some compulsory and additional deductibles that you have signed up for in the contract. Pay for them while filing the claim to speed up the process.
How does cashless claim work?
Every insurance company has tie-up with several garages or workshops across the country. This network of garages offers the cashless facility for the policyholders. You can check the list of garages or workshops on the website of the insurance company. The list is also mentioned on the policy document that you get. In case you do not have access to any of the list, you can also call customer care of the insurance company to get the information on the nearest workshop.
When you reach to an authorized service center, a representative from your insurer will check the vehicle and confirm if it is eligible for cashless cover or not. Once it is approved, the workshop will start the repair work. On completion of the job, a comprehensive bill will be sent to the insurance company along with the necessary documents. The company will evaluate the claim and clear the bill by paying directly to the workshop.
Please note that the company will clear the bill for the repairs that are covered under the policies. If you have installed any accessories or gadgets or you have opted for additional deductibles, then that part of the bill has to be paid by you.
Benefits of cashless facility
One of the major issue with filing claim for the repair work without cashless facility is that you have to pay upfront from your pocket and there is no surety if the insurance company will approve the claim or not. With cashless facility, you can get the repair work done without any stress of rejection from the insurance company.
Quick and hassle-free
The insurance companies have a long list of service centers and garages to provide cashless facility. These service centers are required to maintain high-quality services to ensure they stay included in the approved list. The entire process of filing a claim and getting a vehicle repaired is thus quick and hassle-free.
No cash required
As the name suggests, you do not have to pay for the service or repair work upfront. Leaving deductibles aside, such cover is more or less cashless.
No matter how careful you are on the road, there is always a chance of an accident. You must have a comprehensive insurance plan for your bike. Choosing for the cashless facility to get repair work done will make it easier to pay for the damages as the bill will be sent directly to the insurance company. Please keep in mind that cashless facility is only available in the service centers authorized by your insurance company.