Everything you must Know about Cashless Two-Wheeler Insurance
15 May 2018
Everything You Need to Know About Cashless Two-wheeler Insurance
Owning a two-wheeler insurance policy has been made compulsory ever since the Motor Vehicle Act in India. This makes it convenient as two-wheelers are the most preferred mode of transport on the roads of India. Moreover, the reasonable prices, low maintenance and benefits also attract many of its buyers.
With the increase in the number of accidents reported daily, it is necessary to ensure that you hold a valid two-wheeler insurance policy before leaving your home on your scooter. There are two kinds of two-wheeler insurance schemes, namely third-party insurance and comprehensive insurance.
What is Cashless two-wheeler insurance?
A cashless two-wheeler insurance aids you to get your two-wheeler repaired at any of the two-wheeler garages that are listed by the insurance provider without having to shell out money from your own pocket.
How does cashless two-wheeler insurance work?
Most companies that provide insurance have tie-ups with select garages. As per your policy, the garage will repair your vehicle depending on your cover. The bill for these repairs is then sent to your insurance company. Make sure you inform the insurance company about the damage/ accident in detail. Post thorough verification, the insurance company covers the monetary cost.This procedure is fast and hassle free.
To claim a two-wheeler cashless two-wheeler insurance, you will need to follow these steps-
Note down the registration number of the third party involved in the accident and whether he/she was also travelling by a vehicle.
If there were any witnesses, make a note of their contact details.
Inform your insurance company about the incident as soon as possible and try to get information about the garage to be contacted.
File an FIR at the police station closest to where the accident took place. Make sure to get a duplicate copy of the report.
After your claim is recorded, the staff from your insurance firm will contact you and request to provide them with all the documents related to the incident.
An official from the firm will make an approximation of the expenses incurred on the repairs and give his approval on the reimbursement.
What you need to keep in mind
- There are certain parts which are not covered under the two-wheeler cashless policy. Make sure you know which parts are covered and which are not. If parts which are not covered are damaged, then you are legally liable to pay for their own repairs.
- There can be times when it can be tough to get a cashless two-wheeler insurance facility. For instance, the garage mentioned in your insurer’s network list is unavailable in your region. In such a situation, you will need to pay at the garage and later get a refund from your insurance firm.
- You can buy a two-wheeler insurance online too. Competitive comparisons on websites make it easier for you to select your preferred insurance based on your needs. Policy renewal, claiming, changing address, etc. can be done online as well.
To know more, log on to Bharti Axa today.