Get cashless car insurance to avoid out-of-pocket expenses when your car gets damaged due to accidents!
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When your car faces severe damages during accidents, you can avoid paying for these costs with a cashless car insurance plan. This type of insurance plan allows you to repair the vehicle at any network garage that is partnered with your insurance provider.
This type of insurance provides financial protection against unforeseen losses. On Bajaj Markets, you can explore various car insurance plans from reputed companies with premiums starting from just ₹2,094 per year.
Getting this type of insurance policy enables you to get your car repaired without paying expenses from your pocket. Here is a quick snapshot of a few crucial facts:
There is no need to pay upfront repair costs, as the insurance provider settles the bill directly with the garage
You can get your vehicle repaired from any of the garages that have tie-ups with the insurance company, known as network garages
Note that there are some exclusions in the policy, and you need to address repair expenses for such exclusions
You can choose to have add-on covers to enhance the overall coverage
The claim-settlement is more efficient and faster
Filing a claim is also hassle-free and streamlined, as you simply need to inform the insurance provider and choose a network garage
In case of an accident where your car sustains damages, only included damages are repaired without any charges. Here are some exclusions that you need to be aware of:
Depreciation
Over time, the value of the vehicle and its included parts keeps decreasing. With continuous usage, the quality and power of the vehicle may not be as efficient as it was earlier. When filing an insurance claim for your car, the insurance company calculates this depreciation value.
They deduct this depreciation cost before issuing the final payment. Unless you have a zero-depreciation add-on cover, the insurer will only cover the repair expenses and not the depreciation cost.
Consumables
These refer to some tools or materials that are used while repairing your car. The cost of consumables is not covered unless you have a specific add-on cover. Some of these include:
Nuts, screws and bolts
Fuel filters
Grease
Oils
Deductibles
It is a specific amount that you need to pay at the time of claim settlement for your vehicle. Deductibles can be either compulsory or voluntary. Here is what they mean:
Compulsory deductibles must be paid based on the cubic capacity of the insured car's engine
With voluntary deductibles, you agree to pay the deductible amount voluntarily to lower your premium amount
Since deductibles are not fixed, insurance companies do not cover them during the cashless settlement of claims.
Here are some other exclusions:
Electrical or mechanical breakdown
Regular wear and tear of your vehicle
Damage incurred on your car when the policy is inactive
Loss or damage to your car when driving without a valid driver's licence
Damage or loss during situations of wars and other similar activities
Damage while driving under the influence of alcohol or other intoxicants
Benefits of a Cashless Car Insurance Policy
Since accidents and car repairs can knock on your doors anytime, having an insurance plan for your car becomes essential. The cashless plan comes with various features and benefits, making the claim ea Read Moresier and more affordable. Here are a few advantages it offers: Read Less
Streamlined Procedure
When your vehicle gets damaged due to any accident or other reasons, you can get it repaired without paying for these expenses from your pocket
Prompt Claim Settlement
After receiving your request, the insurer evaluates the surveyor’s report before starting the repair work
Transparent Process
The complete process of paying the bill for the car repair to the network garage is done online, minimising any risk of fraud
Access to Quality Repairs
As insurance providers work with reputable network garages, you need not stress about the quality of repair services
On Bajaj Markets, you can explore numerous car insurance plans from partners. These include Bajaj Allianz Car Insurance, HDFC ERGO Car Insurance, SBI General Car Insurance and Acko Car Insurance.
Knowing how the settlement process works is essential before you plan to get one:
You need to inform the insurance company about the accident or damage to the vehicle as soon as possible
Check the list of network garages near you and drive to the nearest one
In case the car is not in the condition to be driven, it will be towed to the garage
The insurance company may send a surveyor to the accident site, or they will assess the damages at the network garage
The surveyor inspects the vehicle at the garage to check the damage and provides an estimate for the repair work
The repair work begins once the insurance company approves the estimate
The garage provides all relevant invoices to the insurance company for examination
You need to pay the deductible and depreciation amount, and the insurance company directly pays the remaining amount
There are multiple ways you can check for network garages. Here are some of them:
Check the Insurance Documents
The paperwork that you receive after getting the policy includes the list of network garages.
Contact the Insurance Company
If you do not find the information in the insurance documents, connect with the customer care team of the insurer and get the details directly.
Search on the Insurer’s Website
Another way is to check for the list of network garages on the official website of the insurance company.
FAQs on Cashless Car Insurance
Can my insurance claim get rejected? What are some common reasons for car insurance claim rejection?
Yes, your car insurance claim is only accepted by the insurer if it meets the terms and conditions of your plan. Following are some common reasons for claim rejection:
Delay in reporting an insurance claim
Damage caused due to unlawful act
The claim falls under the exclusions of the policy
Car insurance has expired
Do I need to pay an additional premium to avail cashless vehicle insurance facility?
No. The cashless facility is included in your comprehensive insurance plan, so there is no need to pay extra.
What should I do if I cannot find a cashless garage near my location?
If you cannot find a cashless garage near your location, you can opt for a reimbursement claim. This means taking your vehicle to a preferred garage and later filing for compensation. Make sure to retain all the bills as you need to submit them for reimbursement.
Do I need to pay for any loss incurred by the car?
The insurer will pay for the damage that is covered by your insurance policy. You may have to bear certain expenses such as the depreciation of car parts or other elements outside the scope of your coverage.
What additional charges do you need to bear as a part of the claim?
Repair costs of any car parts beyond the scope of your policy have to be borne by you.
Do I need to bear any cost for damage or will the company pay the full claim directly?
After you pay the deductible, if any, the insurer will settle your cashless claim as per the terms and conditions of the policy. You may also have to bear costs related to depreciation or consumables as per the terms of your policy.
How to find cashless garages in my city?
The insurance provider would offer you a list of every cashless network garage. You can also call the toll free number provider by your insurance provider in order to find out about the cashless network garage nearest to you.
When does the Insurance Company make payment to the network garage?
After you submit the payment receipts and other necessary documents to your respective insurance provider, they will make the payment to the network garage.
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