In India, one in two households has a bike! Two-wheelers are the most preferred means of transport. Be it for commuting or to run errands, many people prefer bikes over cars. Primarily because bikes are easier to maintain, easier to navigate between traffic, and much more economical than cars when it comes to fuel. These are a few reasons why bikes are so prevalent and favoured in India. As per the law, all bike owners must possess an insurance policy.

A two-wheeler insurance policy saves you from financial burden if you ever get into an accident. Nowadays, you can buy bike insurance online, making it easier to possess one quickly. Make sure you always have a valid insurance policy before plying the streets.

Two-wheeler insurers offer a great benefit called cashless claims service. As the name suggests, it allows insured bike owners to get their two-wheelers fixed at their nearest garage from the list of the insurer’s network of garages without spending a fortune on repairing the bike. Hence, it becomes hassle-free to claim coverage without paying for it upfront from your own pockets.

Let’s learn more about cashless claims.

As mentioned above, a cashless claim is a beneficial offering offered by all the bike insurance companies to policyholders. This entails that the insurance company will directly settle all the claims with the network garage. The word “cashless” is used because you don’t have to pay any cash from your pocket – you can simply claim it from the insurer.

It is important to note that you can’t simply get your two-wheeler fixed from any garage. You must refer to the insurance document for finding network garages for your insurance company and then get your bike serviced there. For all the insurance companies, there are different network garages. You will find these details when you buy a policy or during bike insurance renewal. Also, during the claim, the amount is given after subtracting the deductible and exclusions, if any are applied.

What are the advantages of a cashless claim service?

Hassle-free claim procedure.

Cashless claim service makes everything easy as the bike owner must provide documents, go through a simple verification procedure, and then take his bike to a network garage. That’s it. The insurance company will directly settle the claim and money with the garage.

Eliminates the need for cash.

As the bike owner doesn’t have to pay for repairs from his/her pocket, the whole claim process needs no money apart from a minor compulsory deductible amount. During the time of the accident, the owner doesn’t have to worry over the repairs of his vehicle as that will be taken care of by the insurance company.

Fast and within reach.

Currently, almost all the reputed insurance agencies possess a comprehensive list of network garages where people can avail of cashless services for their bikes and vehicles. Hence, policyholders might not have to travel a long distance to get their bikes serviced.

Furthermore, you must follow a simple process to opt for a cashless claim. You need to submit a claim intimation form to inform the insurer about the claim with policy details. After that, you must also submit the required documents.

Once you follow this process, you can opt for a cashless claim at a network garage. By selecting a cashless claim, the insurer will directly settle the bills with the garage. However, you must pay for any other deductibles that aren’t covered in the plan.