Cashless Insurance for Bike Explained
Our country, India has a population of 133.92 crores. Huge will just be a word but this enormous number of people come from different backgrounds and sections of society.
And if you wonder about the mobility of people, you can see crawling traffic, roads flooded with endless headcounts and vehicles everywhere. The number of two-wheelers especially bikes is higher because it is convenient to drive, easy to maintain, and available at a reasonable price.
Following the Motor Vehicle Act, 1988, it is mandatory to buy a third-party insurance cover for your vehicle. In general, the insurance companies in the market offer two types of motor policies, a Comprehensive Insurance and a Third-Party Liability Insurance.
If you own a vehicle and use it on the roads for your mobility, it is your moral responsibility to buy an insurance policy.
What is Cashless Bike Insurance?
After an accident, the individuals seek facility and insurance assistance which will enable them to get the bike repaired at any of the two-wheeler garage as enlisted by the insurance provider.
It becomes a Cashless Bike Insurance when the policyholder does not have to spend a penny from their pocket instead the insurance company will pay for all the repair bills. You can take benefit under the cover at the time of claim.
Before we get into the details on how useful is Cashless Bike Insurance, let us look at each type of cover under Motor Insurance Policy in detail.
Comprehensive Insurance Policy: A motor policy in which you choose to buy cover for yourself, your bike and the third-party is called the Comprehensive Bike Insurance Policy. It will protect you at the time of accident, fire, theft, natural calamities and other similar events which are not under your control.
Third-Party Liability Policy: A Third-party Bike Insurance protects the third party which are involved in the accident. They may sustain bodily injury and property damage. If the insured or the vehicle owner is at fault, then she/he is held liable to pay for the cost of legal and medical aid.
Check: Use Bike Insurance Calculator to calculate the third party or comprehensive policy premium.
Cashless Bike Insurance - A clear picture
To make use of the cashless facility it will be wise to know a clear picture on Cashless Bike Insurance. The idea is to comprehend how does the cashless insurance facility operate. The insurer tie-up with the selected garages who provides excellent service and repair assistance.
At the time of the claim, the insured is directed to visit a particular garage and get the repairs done. The garage representative will then send the bills of the repair to the insurance company.
As an insured, your must intimate the insurance company in detail about the nature of damage/accident. After the verification of all the details, the insurer will clear the payment as per the limits mentioned in the policy.
How to Claim for Cashless Bike Insurance?
Here is the stepwise process to claim for the Cashless Bike Insurance if you are insured with Digit Insurance.
- Step 1: Intimate the insurer online or via a smartphone through the insurer’s application.
- Step 2: Give a call on 1800-258-5956. The claimant will receive a link on it.
- Step 3: Click on this self-inspection link and access the damages in the bike. Send us the details.
- Step 4: Take the bike for repair to any of the listed garage. The garage representative will send the bills to the insurer.
- Step 5: The insured can claim the reimbursement from the Digit Insurance Company.
Documents required for the Cashless Bike Insurance claim
At Digit, do not need any documents. All the claims are smartphone-enabled or can be requested online. The process is quick and absolutely paperless.
Few things to know about Cashless Bike Insurance
If you have opted for cashless bike insurance, you are assured that all the expenses incurred at the time of claim will be paid by the insurer. But here is what you should know more about bike insurance:
- There can be times when getting a cashless facility at one of the listed garages gets difficult. In such a case, you can get the bike repaired and pay for it. Later, collect all the bills from the garage and submit them to the insurer. They will reimburse you the amount per the report of the surveyor.
- Not all the parts of the bike are covered under the insurance. You should be aware of these parts and do not wait for the repair process. The insured will have to pay for expenses of such parts.
Cashless Bike Insurance facility is made convenient and handy by many insurance companies. It will be sound if you compare the options well before making a discrete choice.