Cashless Car Insurance | Bajaj MARKETS

Beginner’s Guide to Cashless Car Insurance Online 

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What is Cashless Car Insurance?

A cashless car insurance plan enables you to get your four-wheeler serviced without paying a penny from your pocket. Under the cashless facility, the insurance provider directly settles the bill with the garage. However, to avail this service and get your vehicle repaired, you must visit one of the network garages associated with your insurer.

 

When compared to reimbursement car insurance claims, the cashless facility is quite smooth and hassle-free. In the event of a major accident, you won’t have to bear the repair cost, unlike in reimbursement claims. However, deductibles apply to cashless car insurance claims as well. Thus, it is imperative that you clear the compulsory and voluntary deductible while the remaining claim amount will be covered by the insurer.

How Does a Cashless Motor Insurance Policy Work?

Insurance companies have a wide chain of garages located across the country where you can avail the cashless claim facility. These network garages provide repair services to the policyholder in the event of an unfortunate mishap.

  1. In case you want to file a cashless car insurance claim for any damages incurred by your vehicle, you can first locate the network garage near you.

  2. You must then intimate your car insurance provider at the earliest.

  3. The insurer will then assign a surveyor to inspect the loss incurred by your four-wheeler.

  4. Based on the surveyor’s report, if the insurance claim satisfies the terms of the policy, the garage will repair your vehicle.

  5. You will have to pay for the applicable insurance deductible and the depreciation cost for any depreciated parts. You can skip these charges if you have purchased a zero depreciation add-on cover. Furthermore, you might have to pay for any damage that isn’t covered under your car insurance plan.

Benefits of Cashless Car Insurance Policy

Here are some perks of opting for a cashless car insurance claim in case of an unforeseen mishap:

  • Hassle-Free Claim Process

During an unfortunate accident, the last thing you would want to deal with is a lengthy claim process. With the help of a cashless car insurance claim, you can easily get your vehicle towed to the nearest garage and repair it by informing your insurer. You are only required to pay for the deductibles, and you are covered against any injuries or other losses experienced.

  • Speedy Claim Settlement

When compared to reimbursement claims, cashless car insurance claims get processed and settled more quickly. As the insurer only refers to the surveyor’s report to verify the claim, you can enjoy a speedy claim settlement.

  • Zero Requirement of Cash

The loss incurred by your car during an accident might not come cheap. However, with cashless car insurance, you can rest assured as there is no requirement for cash required to cover the damage. In the reimbursement claim process, you must first pay for the loss and later apply for the compensation, which can be troublesome.

  • Availability of Numerous Garages

Most insurance companies have a wide network of garages across the country for their policyholders. Thus, you can be carefree about finding a top-notch garage associated with your insurer to file cashless claims.

  • Transparency

Under this facility, your insurer’s surveyor is involved in the claim process from the beginning. Since they visit the garage from the start, the entire claim settlement process becomes transparent and assures no frauds. Compared to the reimbursement process, it provides a lot more clarity to the insured.

How to File Cashless Car Insurance Claims

To successfully raise a cashless car insurance claim, you can follow this step-by-step guide:

 

Step 1: Inform the insurance provider regarding the incident at the earliest. You can do this by contacting them via email or their toll-free number.

 

Step 2: In case the vehicle cannot be driven to the nearest network garage, the insurer shall arrange for towing services.

 

Step 3: Fill out the claim settlement form and submit it along with other necessary documents to the insurer.

 

Step 4: A surveyor will be appointed by the insurance company who will inspect the damage incurred and send a report to the insurer.

 

Step 5: After verifying the claim details, the insurance provider will inform the garage to begin the repair work on claim approval.

 

Step 6: The cost of the repair work shall be directly settled by the insurer where you will be required to clear the insurance deductibles.

Documents Required for Filing Cashless Car Insurance Claim

You can keep the following documents ready while submitting your cashless car insurance claim:

 

  • Copy of Driving Licence

  • Copy of Registration Certificate

  • Copy of FIR, in case of a major accident

  • Identity proof of the insured

  • Copy of car insurance policy

  • Claim settlement form

Read More: Car Insurance Car Insurance Claim

To Conclude

Cashless car insurance claims save you a lot of time and effort during a stressful situation such as an accident. Moreover, you can avail the cashless facility along with satisfactory repair services by opting for a network garage. This is how comprehensive four-wheeler insurance acts as a much-needed backup, offering extensive coverage against various risks.

 

So, browse through the car insurance plans available on Bajaj MARKETS to ensure your vehicle has sufficient coverage. Estimate the premium amount and compare policies with our car insurance premium calculator now!

FAQs on Cashless Car Insurance Policy

  • ✔️Can my car insurance claim get rejected? What are some common reasons for car insurance claim rejection?

    Yes, your car insurance claim can get rejected by the insurer if it doesn’t meet the terms of your plan. Following are some common reasons for claim rejection:

    • Delay in reporting an insurance claim

    • Damage caused due to unlawful act

    • The claim falls under the exclusions of the policy

    • Car insurance has expired

  • ✔️Do I need to pay an additional premium to avail cashless car insurance facility?

    No. The cashless facility is a part of the comprehensive car insurance plan and thus, you need not pay an extra premium.

  • ✔️Can I pick the network garage to repair my car?

    Yes. You can easily pick from the list of network garages that are located near you to get your car repaired.

  • ✔️What should I do if I cannot find a cashless garage near my location?

    In the event where you cannot find a cashless garage near your location, you can opt for a reimbursement claim. For this, you can take your vehicle to a preferred garage of your choice and later file for compensation.

  • ✔️Do I need to pay for any loss incurred by the car?

    The insurance provider will pay for the damage that is covered under your insurance policy. Certain expenses such as the depreciation of car parts or other elements outside the scope of your coverage must be borne by you.