Cashless Car Insurance

1. Ease of Settlements:

The policyholder doesn't have to worry about finding the money to pay for repairs because the insurance pays the service provider directly.

2. Network Garages:

Certain garages that are part of the insurer's network are eligible to offer cashless auto insurance. Usually, these are trusted service providers with a long history.

3. Easy-to-use Procedure:

The cashless claim procedure is simplified and easy to use, giving policyholders peace of mind in stressful circumstances like accidents or malfunctions.

4. Quick Services:

Given that the network garages and the insurance company have an existing agreement, repairs and services under cashless insurance are typically completed quickly.

5. How It Operates:

• The policyholder must notify the insurance company and transport the vehicle to a network garage in the case of an accident or damage.
• Following the required evaluations and confirmations, the insurance provider reimburses the garage directly for the price of the repairs.
• The deductible and any sum not covered by the insurance policy may be paid by the policyholder.

How Cashless Car Insurance Works

Cashless car insurance is a feature that comes with standard car insurance where car insurance policyholders are not required to pay the repair compensation upfront at any of the network garages specified by their insurance company. Here is how it works.

1. Upon discovering the damage, inform your insurance company immediately.
2. Get in touch with any one of the network garages affiliated with your insurance company.
3. Present your policy documents.
4. The network garage will contact your insurance company, verify the documents and work out a damage repair estimate.
5. Upon getting a go-ahead from the insurance company, the garage will proceed with the repairs.
6. The damages covered by your car insurance policy will be paid for by your insurer. For the repairs that are not covered, you may have to make separate payments out of your pocket.

What is Not Covered in Cashless Car Insurance Policy?

Certain exclusions apply to cashless auto insurance coverage, meaning that the cashless claim option may not be available in these cases:

1. Non-Network Garages: If the vehicle is fixed at a garage that is not a member of the insurer's network, cashless claims will not be accepted.

2. Depreciation: The expense incurred as a result of auto parts deterioration is not reimbursed. Policyholders are responsible for paying their own depreciation.

3. Deductibles: The policyholder is required to pay a mandatory deductible out of pocket for each claim.

4. Non-Covered Components: The policyholder is responsible for paying for the repair or replacement of any parts or components of the car that are not covered.

5. Notification Delays: Should the claim be refused if the insurer is not notified of the accident or damage within the allotted time, it may be refused.

6. Illegal Driver: If the driver was operating a vehicle without a valid driver's licence at the time of the collision, cashless claims will not be honoured.

7. Driving While Under the Influence: The cashless claim would be void if the collision happened while the motorist was impaired by drugs or alcohol.

8. Normal Wear and Tear: Cashless claims do not cover damages brought on by normal wear and tear or mechanical or electrical failure.

9. Consequential Damages: Cashless claims do not cover any damages that do not directly stem from the incident or accident.

10. Policy Lapses: Cashless claim benefits are not available if the policy has expired or was not valid at the time of the accident.

Benefits of Cashless Car Insurance Policies

Cashless auto insurance policies are a popular option since they provide a number of advantages.

1. Financial Ease: Policyholders are relieved of the immediate out-of-pocket cost associated with repairs when there is a direct settlement between the insurer and the garage.

2. Easy to Use Process: Policyholders can have a hassle-free experience with the cashless claims process, which is simple to use and seamless.

3. Speedy Repairs: Because network garages have partnerships with insurance companies, the claim and repair procedures are typically streamlined, guaranteeing prompt service.

4. Excellent servicing: In order to guarantee that your car receives genuine spare parts and excellent servicing, insurers work with respectable garages.

5. Paperless Transactions: Since the majority of transactions and conversations are done online, cashless claims drastically cut down on paperwork.

6. Pre-Negotiated prices: Insurance companies and network garages have pre-negotiated prices in place, which helps keep repair costs under control.

7. Assistance and Support: Throughout the claims procedure, the insurer offers policyholders ongoing assistance and support, assisting them at every turn.

8. Simplified Documentation: Policyholders can submit cashless claims with ease because the documentation process is simple and simplified.

9. Transparent procedure: There is open contact between the policyholder, the insurer, and the service provider during the whole cashless claim procedure.

10. Peace of Mind: Policyholders can rest easy during trying times knowing that the insurer directly manages the financial part of repairs.

Cashless Car Insurance Claim Settlement Process

A series of actions are required to initiate a cashless claim in order to promote a seamless and effective claims process:

Notify the insurance provider: Do this as soon as you can after an accident or other disaster.

1. Filing a FIR: Submit a formal complaint to the closest police station in the event of a major accident, theft, or participation of third parties.
2. Register a Claim: To file a claim, give your insurer a call at (800) 987-7000 or go to their official website. Give all the information that is required, such as the policy number, contact information, and incident details.
3. Claim Evaluation: A surveyor appointed by the insurance will determine the degree of the damage. Give them the required paperwork, which should include a copy of the FIR if appropriate.
4. Submission of Documents: Provide copies of your driver's licence, policy document, RC book, and any other documentation the insurer specifies.
5. Approving & Fixing: After approval and verification, a network garage will be able to fix the car. Should there be no deductibles or non-payable items, the insurance will pay the garage immediately to resolve the claim.
6. Documents Necessary:

• Filled-out and signed claim paperwork
• Two copies of the registration certificate (RC) and a driver's licence
• FIR copy (in the event of theft or damage to third parties)
• Repair invoices and payment receipts (subject to reimbursement if you have paid for repairs yourself)

Find below the top motor insurance companies in India providing cashless claim settlement for car/vehicle.

Disclaimer: The list of insurers mentioned above is organized in descending order based on their respective Claim Settlement Ratios. InsuranceDekho neither endorses, rates nor recommends any specific insurer or insurance product offered by any insurer. The insurance plans included herein represent products offered by our partner insurers. For a comprehensive list of insurers operating in India, please refer to the official website of the Insurance Regulatory and Development Authority of India (IRDAI) at www.irdai.gov.in.

Why Use Insurance Dekho to Purchase a Cashless Car Insurance Policy?

1. Simplified procedure: The procedure of purchasing cashless auto insurance is made simpler by Insurance Dekho's easy-to-use interface. Users may explore, compare, and buy policies with only a few clicks.

2. Extensive Choices: The platform works with several well-known insurance companies. Thanks to this agreement, consumers have access to a wider selection of cashless auto insurance coverage, giving them additional options.

3. Expert Advice and Guidance: A group of insurance specialists at Insurance Dekho provide consumers with objective advice and guidance in order to assist them in choosing a policy that best suits their requirements and financial constraints.

4. Easy-to-use Comparisons: Customers may quickly evaluate several insurance policies by comparing their features, coverage, costs, and feedback from previous customers. Making thoughtful and well-informed selections is aided by this comparative tool.

5. Personalised policies: The website provides insurance policies that can be personalised. Customers can choose and alter the cashless auto insurance policy's features to suit their needs.

6. Clear and Transparent Information: Insurance Dekho helps users comprehend the terms, conditions, exclusions, and inclusions of each insurance by providing clear and transparent information.

7. Secure Transactions: The platform guarantees the safety, security, and confidentiality of all transactions conducted through its site by putting strong security measures in place.

8. Customer Support: Insurance Dekho has a committed staff of customer service representatives on hand to help customers with any questions, worries, or problems pertaining to cashless auto insurance plans.

9. Paperless Procedure: Purchasing insurance on Insurance Dekho is a completely digital and paperless procedure, which makes it both efficient and environmentally friendly.

10. Educational materials: In order to help users better understand cashless auto insurance before making a purchase, the platform provides a variety of materials, articles, and instructions.

11. Speedy Claim Aid: Insurance Dekho guarantees customers a hassle-free experience by offering help and assistance throughout the claim procedure.

How to Find Network Garages to Use Cashless Repair Services?

Finding network garages online:

1. Go to the Website of the Insurer: On their official websites, the majority of insurance companies disclose their network garages. Policyholders have easy access to this data. You can also visit InsuranceDekho.com to look at which cashless garages are present in your area.
2. Locality-based Search: By providing their location or pin code, users can look for network garages nearby.
3. Research: Policyholders can rapidly discover network garages by using smartphone applications, which are offered by numerous insurers.
4. Customer Support: Helpline: Specialised customer service helplines are provided by insurers. To find out which network garages are closest to you, give them a call.
5. Email Support: Contact the insurer's customer care by email, and they will respond with the relevant details.

Finding network garages offline:

1. Policy Document: A list of network garages may be found in your insurance policy document or in the pamphlet that goes with it.
2. Insurance adviser: An insurance adviser or agent can direct you to the closest network garage if you obtain the policy through them.
3. Internet directories: A few outside websites and internet directories also offer details on network garages connected to different insurance companies.
4. Signage and Branding: Network garages frequently display signs identifying their partnership with specific insurance providers.

What is a Preferred Garage Discount?

Apart from cashless garages, some insurers also provide an additional discount for choosing from a few preferred garages out of all the cashless garages empanelled, in case a claim arises. Insurers make special deals with very few of the garages out of all the empanelled cashless garages.

For e.g. - Some insurers might provide anywhere between Rs 500 - Rs 1,000 preferred garage discount during policy purchase. The caveat being in case a claim arises, you would have to get your car repaired from these preferred garages only.

While buying a policy, also ask about a preferred garage discount. Please note that though the premium amount to be paid will be lower in case of a preferred garage discount but the ease of vehicle repair might reduce given that the discount will be applicable only for a few empanelled garages.

In case you travel higher distances both within and outside the city, then preferred garage discount might not be the best option for you, but in case your area of travel is limited to within the city, then the preferred garage discount is a good way to further reduce your premium.

Difference Between Cashless Claim and Reimbursement Claim in Car Insurance

Here's a comparative table outlining the key differences between cashless claims and reimbursement claims in car insurance:

Understanding these differences can help you choose the right type of claim based on your situation and preferences.

Reasons Why Cashless Claim is Better When Compared to Reimbursement Claim

Cashless claims in car insurance offer several advantages over reimbursement claims, making them a preferred choice for many policyholders. Here are some key reasons why cashless claims are often considered better:

No Upfront Payment:

In cashless claims, you don’t need to pay for the repairs initially. The insurance company settles the bills directly with the network garage.

Hassle-Free Process:

The process is more streamlined as it involves less paperwork for you. The insurer and the garage handle most of the administrative tasks.

Quick Service:

Network garages prioritize cashless claim services, often leading to quicker repair work and settlement.

Quality Assurance:

Insurers tie-up with network garages that meet certain quality standards, ensuring high-quality repair work for your vehicle.

Simplified Documentation:

You’re generally only required to provide essential documents like the claim form and FIR, if applicable.

Reduced Financial Burden:

Since the payment is made by the insurer directly to the garage, you avoid the burden of arranging funds for repair costs.

Transparent Billing:

The chance of inflated bills is reduced as the insurer directly negotiates and settles the repair costs with the garage.

Peace of Mind:

Knowing that the repair costs will be directly handled by the insurer provides peace of mind, especially in stressful post-accident scenarios.

Convenience of Pre-Approval:

The claim process often gets pre-approved, speeding up the repair work as soon as your vehicle reaches the garage.

Reduced Risk of Claim Rejection:

Since the insurer is directly involved from the beginning, there is a reduced risk of claim rejection due to discrepancies in billing.

Cashless claims alleviate the stress of dealing with financial aspects during vehicle repairs and offer a more convenient, quicker, and reliable option compared to reimbursement claims.