Today, most car insurance buyers in India prefer buying a policy that offers cashless claim benefits. The concept of cashless claim was first introduced in India only for health insurance policies. However, with its growing popularity, general insurance companies started offering it for motor insurance plans as well.
A cashless car insurance policy allows you to get financial coverage during the claim settlement without paying a single penny from your pocket except the compulsory / voluntary deductibles. This facility is a boon for people who don’t have substantial savings to pay the amount first and get reimbursement late.
Under cashless car insurance, the insurance provider directly settles the bill with the garage or the repairs service provided on behalf of the policyholder.
Let us look the benefits of cashless car insurance
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Better transparency
In cashless car insurance, the network garage informs the concerned insurance company about estimated repairs cost before actually beginning the repair work. After the surveyor (appointed by the insurer) inspects the extent of the damage and approves the cost, the repair work begins. Thus, both you and the insurance company get an accurate estimation from the garage, which makes the entire cashless claim process transparent.
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Faster claim settlement
As soon as you report the accident to your insurance company, the surveyor gets associated with the process. This speeds the entire car policy claim process and you get the approval for your claim request faster.
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Hassle-free process
One of the most significant benefits of cashless car insurance is that it requires minimal or zero formalities. You need not submit the bills or an application form. All you have to do is inform the insurer about the accident, get the damages checked by the surveyor and finally take your car to the network garage for repairs and done! Thus, cashless claims makes getting compensation from the insurer a hassle-free process.
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Convenience
In a cashless claim, as a policyholder, you need not pay for anything out of your pocket apart from the deductibles and depreciation. Thus, it eases the financial burden while filing a claim and makes the whole process convenient for you.
Steps to file a cashless claim
Nowadays, the insurance companies have a simple claim process to reduce the burden on the policyholders. While the process for filing a cashless claim may differ from insurance company to another, it generally requires you to follow the below steps:
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Step 1
Call the insurance company on their toll-free number or send an email to them informing them about the claim along with the policy number.
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Step 2
Once you register your claim, ensure to get the claim reference number from the customer representative, and keep the number safe and handy for future references.
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Step 3
Submit the necessary documents such as a copy of the driving licence, RC (registration certificate), police FIR (first information report), as per the policy’s terms and conditions.
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Step 4
The insurer will appoint a surveyor to inspect the car within 24 hours of filing the claim. After assessing the damage, the surveyor will file a report.
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Step 5
Once the insurer confirms cashless claim facility, you can take your vehicle to the network garage for repairs and the insurer will settle the bills directly with the garage.
Nowadays, as you can buy car insurance online, you can also file a claim with just a click of a few buttons.
Final Word
Now that you know of the cashless car insurance benefits and the process to file a claim, make sure to take advantage of it and enjoy a simple and hassle-free claim experience.
