In India, many people prefer riding a bike rather than driving a car for daily commuting and running errands. This is because bikes are much easier to maintain, economical, and allows people to navigate through traffic easily. If you own a motorcycle, you must purchase at least a third-party insurance coverage, a mandatory requirement under Indian Motor Vehicles Act.
Apart from being compliant with the law, bike insurance is necessary to protect your savings and get coverage for the losses you may suffer due to an accident or other unfortunate incident. Many insurance companies in India nowadays offer customised plans with special features and services to encourage bike owners to purchase a two-wheeler policy. One such service that deserves special mention is the cashless claim service.
What is a cashless claim?
Cashless bike insurance works the same way as a cashless settlement in health insurance. If your bike gets damaged due to an accident or natural disaster, you can take it to any of the garages that are part of the insurer’s network for repairs. After the repair work is done, submit the bills to the insurer, and they will directly settle the bill with the garage; you need not pay a single penny from your pocket.
How does cashless claim work?
All insurance companies in India have tie-ups with different garages across cities. These are called network garages. You may have seen the insurer listing the number of garages they have in their network and boasting about it. The more network garages the insurer has, the easier for you to avail of the cashless claim services.
Benefits of cashless claim services
Today, many two-wheeler insurance buyers prefer buying a policy from an insurer that offers a cashless claim service. This is because the cashless claim method makes it convenient for them to get their bike repaired without paying any money; the insurer settles the bill directly with the garage. However, before the invoices are settled, you must provide some documents to the insurer for verification.
All reputed insurance companies have a vast base of network garages in all cities. While buying a bike insurance policy, you can check the list of network garages in your city and choose the right insurer accordingly. But generally, you may easily find a network garage in your locality, making it easier for you to get the repairs done.
The process to file a cashless claim
Call the insurance company on their toll-free number during business hours, inform them about the claim, and provide them with your policy details.
After your claim is registered, as the customer care executive for your claim reference number and note it down. It may be helpful for future reference. Typically, the insurers send this number through SMS and email.
You must submit the relevant documents, including a copy of your driving licence, RC copy, policy FIR copy, and other papers, as per the insurer’s requirements.
After verifying your documents, the insurer will arrange an inspection within 24 hours to assess the extent of the damage.
After the inspection is complete, you can take your bike to the network garage for repairs.
Submit all the bills and payment receipts along with policy documents to the insurer, and they will make the payment to the garage.
Now that you know all about cashless claim services in bike insurance, do your due diligence, and choose an insurer that offers cashless bike insurance so that you have a hassle-free claim experience in the future.