To make the entire claim process more accessible, motor insurance companies offer cashless compensation* for repairs in motor insurance. Insurance companies do this with agreements with specific garages (car repair shops). The insurance companies have tie ups with their partner garages which helps them in settling a car insurance claim in a cashless manner. Thus, the insured is not required to pay anything to the garage for car repairs other than their liabilities.
In case of an accident, you may contact your car insurance company and have your vehicle sent directly to one of these garages. The car will be inspected and repaired here, and the cost will be communicated to the insurance provider without bothering you.
When purchasing a car insurance policy, you should check the number of cashless garages in the insurer’s network. The more extensive the network of cashless garages, the better.
Advantages of a cashless car insurance policy –
When you get your car fixed at a cashless garage or a workshop, you get the following advantages:
1. A trouble-free experience:
If you choose a cashless garage, which is a garage within the insurer’s network, you can expect a hassle-free claim process, as the insurer will manage everything. At the cashless network garage, policyholders are only required to pay for the repairs or replacements.
2. Priority in service:
Insurance company partner garages prioritise service to the insurer’s policyholders. As a result, expect prompt service at these network garages. Because the network garage connects with the insurer directly, the entire process, from payment to repair, is seamless.
3. Quick claim resolution:
Motor insurance claim process occurs quickly at cashless garages, as opposed to reimbursement claims, which may take 7-10 days to settle. Because the insurance company relies on the surveyor’s report to approve the claim, followed by the start of repair work, the process is bound to be completed quickly.
4. Quality service is guaranteed:
Every insurance company makes sure that their policyholders receive high-quality service. To provide such top notch service, insurers connect with top-tier workshops and network garages that meet their quality criteria. Policyholders benefit from better repair service and overall satisfaction from this process.
Cashless car insurance can help your claim settlement process get simple and quick. It is a much more convenient, accessible, and transparent process than reimbursement. Still, it also provides higher customer satisfaction due to the higher service and repair quality of authorised car garages.
How do you file a cashless insurance claim at a network garage?
To claim a cashless garage, follow these steps:
Step 1: If your car has been damaged, notify your insurance provider immediately. Please make sure to inform them of the most damaged parts. Later, have your vehicle towed or driven to the nearest garage listed by your insurance company.
Step 2: Finish the policy document and approve it for cashless repairs. In addition, you may be required to pay for depreciation on certain parts of your vehicle and deductibles.
Step 3: Post repairs, an invoice will be generated for the insurance company on behalf of the garage. The motor insurance company would release the payment after evaluating and verifying the documents.
Step 4: The insurance company will only pay for the damages covered by the policy. The policyholder must bear any additional repair expenses.
“As Insurance is a matter of solicitation its recommended to obtain complete information about the exclusions, benefits, terms & conditions and limitations of the insurance. Kindly carefully go through the sales policy/brochure before opting for any Insurance.”
*As per the IRDAI Insurance plan, all savings are provided only by the insurer. Standard Terms & Conditions apply.
(* Standard T&C Apply )