Nobody wants to miss out on cashless transactions as they are efficient and hassle-free. Insurance companies are not shying away from providing the cashless option either. With the advent of digital money and cashless policies, insurance companies have made provisions for cashless two wheeler insurance plans.
Here is everything one should know about cashless two wheeler insurance claims:
The main motto of cashless two wheeler insurance
is to provide customers with immediate repairs of their vehicle at any of the garages mentioned by the insurance company. Since the insurance company has a network with the two wheeler garages, the entire process is taken care of by the company themselves.
Cashless two wheeler insurance is categorized into two parts. Under the first category, the first type of cashless two wheeler insurance is third party insurance. The second category is comprehensive insurance.
Under third party bike insurance
, the company covers and protects all the financial and legal liabilities of the third person involved in an accident or any kind of mishap. Additionally, the company also covers all the personal losses like disability, physical injury, and accidental death. Since it involves the third party, a customer can avail the benefits of this category at a lower premium.
Under a comprehensive policy, the policyholder is offered with extra coverage for numerous circumstances. The circumstances covered under this category are property damage, damages due to natural calamities or man-made calamities, injury caused to person driving the vehicle, and so forth. Due to its extensive coverage, the premium applicable for this policy is usually high. Additionally, there is a provision made for add-on covers along with a comprehensive plan.
The steps to follow for cashless two-wheeler insurance claims:
The working of a cashless two wheeler insurance
plan is a simple process. All you have to do is follow these steps given below in order to avail cashless claims. Take a look at these steps for the quick access of two wheeler insurance plan:
Take note of the involvement of the third party in the accident.
Note down the contact details of the witnesses. This step is important only if there are witnesses present at the scene.
Contact your insurance company and a nearby garage in order to inform them about the incident.
Report the incident at a police station close to the scene of the accident. Once you have done the required, take a duplicate copy of the filed report.
Submit all the required paperwork to the insurance company as they will contact you to do the needful.
Once all the steps mentioned above are complete, you will receive an official form that states all the expenses which are incurred on the repairs. Further, the insurance company will provide the approval on the compensation.
Since having two wheeler insurance has become mandatory, invest in the right type of plan to secure yourself today