All You Need To Know About Cashless Car Insurance

Thanks to cashless auto insurance coverage, you can benefit from having your automobile fixed without spending any out-of-pocket money. With this kind of auto insurance, the insurer deals directly with the service provider or garage to settle the claim amount on your behalf.

Auto insurers offer the option of cashless motor insurance and have connections with numerous garages across the nation. You can have your vehicle fixed at these network garages, and the insurance will cover all related costs (excluding deductibles, depreciation, and consumables). *

Let’s take a closer look at what is excluded from cashless insurance.

Exclusions

There are some costs your insurance provider may not cover, which you may have to pay for on your own:

• Depreciation: Cars and their parts lose value over time. Before paying a claim, the insurance deducts depreciation. Unless you have a zero depreciation add-on plan, your insurer pays for the cost of repairing your damaged car. *
• Deductibles: An amount the insured car owner must pay upon claim settlement. Deductibles are optional or required. Your engine’s cubic capacity determines your mandatory deductible. Voluntary deductibles lower vehicle insurance premiums. Thus, your insurance will not pay deductibles for cashless claims. *
• Consumables: Fuel filter, nuts-bolts, screws, grease, and oils for car repair. It would be best to have a consumables add-on to cover these. *

Advantages of Cashless Car Insurance

Most people now prefer cashless vehicle insurance claims, which have benefits like *:

• Resolving claims faster and with fewer formalities. No money is exchanged, making the process easy.
• All claims are transparent. Online payment reduces fraud.
• The insurer and garage resolve these claims, which increases convenience and means you don’t have to pay.
• Insurance companies often work with top local service providers, offering outstanding services. You can trust that your car is in good hands.
• Cashless claims eliminate the burden of finding the money to pay for auto repairs before your insurer reimburses you. Cashless auto insurance online pays the network garage directly.

Follow the procedures below to submit a cashless auto insurance claim to receive service at partner or network garages:

• For services at your insurer’s network garage, purchase a cashless motor insurance policy.
• Take your insured vehicle to the closest network garage for repairs if it sustains damage.
• Your insurance receives the car repair bill after the repairs are completed.
• The insurer will look over the network garage’s invoices.
• The claim settlement procedure will start after verification.
• You will be responsible for the cost of the deductibles, depreciation, and consumables.
• The balance of your bill will be paid directly to the network garage by your insurance company.

How Can I Locate Cashless Car Repair Network Garages?

Your policy paperwork includes a list of the network garages your auto insurance provider works with. The list of garages is also available on the insurer’s website. Visit the closest network facility in your area to take advantage of cashless repair services for your damaged vehicle.

However, there may be instances when you are unable to access any network garages, and urgent auto repairs are required. You can get the automobile fixed in this situation even at a non-network garage, pay the repair cost, and carefully store the bill and payment receipt. After that, you can file a reimbursement claim to have your insurer pay for the damages to your car that were covered by your policy.

Cashless vehicle insurance claims are beneficial for car owners and insurance companies. Cashless auto insurance might not cover all expenditures. Thus, before starting a cashless motor insurance claim process online, read the terms and conditions carefully. *

Have you registered yourself for cashless car insurance? If not, then do it today!

* Standard T&C Apply

‘Insurance is the subject matter of solicitation.’ For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘

Source: https://www.policybazaar.com/motor-insurance/car-insurance/articles/cashless-car-insurance/#:~:text=A%20cashless%20car%20insurance%20policy,with%20the%20service%20provider%2F%20garage