Imagine you are riding your two-wheeler and out of nowhere, another vehicle hits you from behind. Your mind is racing with concerns about the damage caused to your vehicle - how you will get it repaired and how much it will cost. But what if we told you there is a simple way to get your two-wheeler fixed without having to arrange money?
Yes, you heard that right! It may sound too good to be true, but the solution to this is the cashless claim facility offered by numerous insurance companies. This innovative feature allows you to have your two-wheelers repaired without having to bear financial stress.
In this article, we will take a closer look at the cashless facility in two-wheeler insurance claims.
What Is A Cashless Facility?
When you file a cashless claim, the insurer pays the repair charges directly to the workshop where your vehicle is being repaired. This means you don't have to worry about arranging funds upfront. You may only need to pay the compulsory deductibles, consumables (if any), and depreciation charges (if you haven't opted for zero-depreciation cover).
How Do You File A Cashless Claim?
Here are the key steps you need to follow to submit a cashless claim -
1️⃣ Inform the Insurance Company
In the event of an accident, the first step is to inform the insurance company as soon as possible. You will have to provide complete details of the accident, including the location, date, and time. If a third party is involved, you will have to register an FIR and provide its details to the insurance company as well.
2️⃣ Surveyor Inspection
Once the details are received, the insurance company will assign a surveyor to inspect the two-wheeler at the garage where it is being repaired. The surveyor will assess the extent of the damage and approve the repair work.
3️⃣ Repair Work
Once the two-wheeler is inspected and the repair work is approved by the surveyor, the garage can begin with the repair work.
4️⃣ Invoice and Repair Bill
After the repairs are completed, the garage will send the repair bill enclosing all the expenses and invoice directly to the insurance company.
5️⃣ Claim Approval and Payment
The insurance company will verify all the documents received by them and approve the claim. The approved claim amount will be paid directly to the garage/showroom after deducting the compulsory deductible, consumables charge (if any), and depreciation charges (if you don’t own a zero depreciation policy).
When initiating a cashless claim for your two-wheeler, there are specific documents that you will need to submit to the insurance company. These documents are required to facilitate a smooth claim process.
So, What Documents Do You Need To Submit For A Cashless Claim?
Here are some of the documents required by the insurance company to process your claim -
- A First Information Report (FIR) needs to be filed and submitted if there is any involvement of a third party in the accident.
- A duly filled and signed claim form
- A copy of the insurance policy
- The tax payment receipt of the insured two-wheeler
- An estimate of the vehicle repair costs from the garage where the repairs will be done. It should be signed and stamped by the garage.
- The original repair invoice after the repairs are done. It should be signed and stamped by the garage.
- A claims discharge cum satisfaction voucher signed across a revenue stamp.
- The address details for the inspection if the vehicle is not taken to the nearest garage.
- The licence copy of the driver who was driving the vehicle at the time of the accident along with the original verified photocopy to the surveyor.
- The registration certificate of the two-wheeler along with a verified photocopy to the surveyor
- PAN Card and Aadhar Card.
- A photocopy of your vehicle’s Pollution Under Control Certificate.
Things to Keep in Mind
Here are some important things to know about before you file a cashless claim -
Network Garages for Cashless Facility
To avail of the cashless facility, you need to take your vehicle to a network garage, i.e., a garage that has a tie-up with your insurance company. If you choose a non-network garage, you will have to bear the repair expenses yourself and then apply for reimbursement from your insurer.
The repair process of your vehicle should not start until it has been inspected by a surveyor appointed by your insurance company. The surveyor will assess the damages and estimate the repair cost before giving the go-ahead for the repair work.
If you start the repair work on your two-wheeler before the surveyor inspection, your insurance claim may get rejected. And, you will have to bear the repair expenses yourself. To avoid such scenarios, it is essential to wait for the surveyor's inspection and approval - before starting the repair work on your vehicle.
Having a cashless facility for two-wheeler insurance claims can save you both time and money in case of an unfortunate accident. By following the necessary steps and providing the required documents, you can get your two-wheeler repaired at a network garage without having to worry about the costs. Ensure you check the list of garages listed under your policy - so as to avoid any unexpected surprises at the time of claim.