For new car buyers, the insurance aspect of their policy is usually handled by the dealer. They only think about car insurance once some time has passed after they purchase their vehicle. Even then, people only play close attention to their policies when it is time to make a claim. The renewal of that policy can be done through the dealership itself. However, a claim can only be settled through the insurance company.
Car insurance companies try to make the process of buying and managing insurance very easy for their customers. They make it so that it’s as simple as possible. This includes the claims process as well. Among the two types of car insurance, a comprehensive car insurance policyholder enjoys this advantage. There are two options when it comes to settling a comprehensive insurance claim. These are the reimbursement claims process and the cashless claims process. To understand how you can make cashless claims, you must first understand what it is.
What is the cashless claims process?
The first impression anyone has of a cashless claim is of not needing any cash. However, that is only half of the picture. A cashless claim is described as a type of claim that is steeled between the network garage and the insurance provider. All you have to do is to meet the terms of conditions of the claim and provide documents as proof.
The most you have to do in this type of claim is to have an idea of the various costs associated with the claim. These includes depreciation cost, the deductibles cost, and the cost of any other repair that is not covered by the car insurance policy. This type of claim requires less effort and offers better service while making repairs to your car. A great advantage that this type of claim offers is that you don’t have to suddenly arrange a large amount of money for the repairs. The insurance company will directly pay the network garage. This is especially helpful when the required repairs are extremely expensive. Whereas in the case of reimbursement claim, you spend money on these repairs yourself and then the insurance company reimburses the cost to you. A cashless claim saves you the trouble of going through that entire process.
A cashless claim is also more efficient. It is made possible by the tie-ups between various garages and the insurance company. The garages that choose to tie-up with the insurance provide for doing repairs for policyholders are known as network garages. These network garages deal directly with the insurance provider when it comes to finances of making repairs. Once you submit a claim and it is approved, the streamlined process between the garage and the insurer ensures that the claim is settled quickly and smoothly.
Documents needed for cashless claim
These days, most insurance providers are moving their processes on digital mediums. Hence, many insurers that have well-built digital infrastructure would not ask for physical copies of documents. Instead, you might have to scan the documents and share them through digital means. You might also need to send the insurance provider photos or videos of the damage to your car. Here is a list of documents that you need to submit while making a cashless insurance claim:
- Valid car insurance policy
- Valid driver’s license.
- Certificate of registration
- Copy of the FIR for the accident filed with the police.
- Policyholder’s ID proof
- Claim form.
The convenience and ease of claim process is what is fundamental to opting for a cashless cover.In addition, no requirement to pay upfront repair charges helps you not withdraw savings for getting your car fixed.Thus, take advantage of the comprehensive facility and buy a cashless car insurance policy. Also remember that insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.