In a country like India, especially in the metro regions, where traffic snarls are a persistent problem year-round, a mode of quick, agile, and easy maneuver is essential. Bikes are exactly what are best suited for these situations saving you valuable time. Since they are an integral part of commuting, it is crucial to safeguard them too. The Motor Vehicles Act of 1988 makes it mandatory to purchase motor insurance coverage. This applies to all the vehicles plying on the streets, including two-wheelers. Thus, is compulsory for your bike, offering dual protection and legal compliance benefits.
There are two types of two-wheeler insurance: a third-party cover or a comprehensive cover. insurance claim, two popular ways are a cashless claim or a reimbursement claim. The latter is the standard claim where the insurer reimburses repair costs after being settled for, whereas the cashless policy offers many different benefits. Let’s look at what is it all about:or liability-only plans provide coverage for any legal liabilities arising due to an accident or collision. In contrast, a complete cover ensures 360-degree coverage for repairs to your car apart from the third-party body. When making an
What is cashless bike insurance?
As the name suggests, the cashless policy is a plan where the claims are processed without any requirement of upfront payments, i.e., in a cashless way. Before you opt for cashless claims, a network garage is something you should know about. The insurance company has affiliation to a list of service garages for any repairs to your bike, and they are located across the country. All cashless claims need to be processed only through these network garages for an without requiring any upfront payment. * Standard T&C Apply
How do cashless claims work?
As discussed above, all cashless claims can be made for the repairs carried out at network garages only. The insurance company directly pays for the cost of repairs that are within the purview of your policy. Still, before any repairs are carried out, an inspection must be carried by the surveyor determining the damages and only after which the claim is processed.
Things to remember when buying a cashless bike insurance policy
When you buy a cashless policy, certain events may be excluded from its coverage. You must be aware of such exclusions as damages or repairs required for these spares need to be born from your pocket. In addition, you need to keep in mind that a cashless facility is only available at specified network garages. It may happen that a specified network garage mentioned in the insurance company’s list may not be open in your region. These times will require you to pay for the repair costs at first and then claim a reimbursement of the same.
With the above pointers in mind about cashless insurance claims, you can have the advantage of worry-free repairs without having to spend for hefty repair costs. Also, note that insurance is the subject matter of solicitation. You can carefully refer to the sales brochure/policy wording before concluding a sale for more details on benefits, exclusions, limitations, terms, and conditions.