Cashless Car Insurance

Cashless car insurance is one such advanced feature that motor insurance companies offer to save your time and effort. Read on to know more about the cashless car insurance policy.

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New India Assurance

Cashless Garages

253

Plan type

Comprehensive

Starting from

₹ 2,727

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Claim Advantage
  • Self-Video Claims
  • Reimbursement Within 7 Working Days For Non-Cashless

National Insurance

Cashless Garages

268

Plan type

Comprehensive

Starting from

₹ 2,757

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Claim Advantage
  • Self-Video Claims
  • Reimbursement Within 7 Working Days For Non-Cashless

Bajaj Allianz

Cashless Garages

1024

Plan type

Comprehensive

Starting from

₹ 2,868

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  • Spot Claims Upto Rs. 30,000
  • Repair service at select cashless garages

DIGIT

Cashless Garages

Repair Anywhere

Plan type

Comprehensive

Starting from

₹ 2,962

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  • 6-Month Repair Warranty
  • Advance claim payment
  • Free Pick-up & Drop

Oriental Insurance

Cashless Garages

258

Plan type

Comprehensive

Starting from

₹ 3,005

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Claim Advantage
  • Self-Video Claims
  • Reimbursement Within 7 Working Days For Non-Cashless

DIGIT

Cashless Garages

Repair Anywhere

Plan type

Third Party

Starting from

₹ 2,094

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Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person

Bajaj Allianz

Cashless Garages

1024

Plan type

Third Party

Starting from

₹ 2,094

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Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person

Oriental Insurance

Cashless Garages

258

Plan type

Third Party

Starting from

₹ 2,094

Check premium
Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person

National Insurance

Cashless Garages

268

Plan type

Third Party

Starting from

₹ 2,094

Check premium
Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person

New India Assurance

Cashless Garages

253

Plan type

Third Party

Starting from

₹ 2,094

Check premium
Claim Advantage
  • Covers damages to third party property
  • Covers damages to third party person
See more plans

Above-mentioned prices are for a 7-year-old Maruti WAGON R AVANCE LXI (998 CC) registered in Gurgaon and 15 days before expiry of previous policy

What is Cashless Car Insurance Policy?

A cashless car insurance policy gives you the benefit of getting your car repaired without paying anything from your own pocket. Under this type of car insurance, the insurer directly settles the claim amount on your behalf with the service provider/ garage. 

Cashless car insurance is a facility provided by a car insurer. They have tie-ups with several garages, known as network garages, across the country. You can get your car repaired from these network garages and the insurer will pay for all the expenses incurred on repairs (excluding deductibles, depreciation, and consumables).

Before we move forward, let’s understand the exclusions of cashless car insurance in detail.

Exclusions of a Cashless Car Insurance Policy

Not every expense will be paid by your insurance company under your cashless car insurance policy. There are some expenses, which you will have to pay at the time of raising a claim for cashless car repairs. They include-

1. Depreciation- It is the gradual decrease in the value of the car and its parts with time. When you file a claim, the insurer deducts this depreciation cost before making the payment. Similarly, your insurer will pay for the repair expenses of your damaged car, excluding its depreciation cost, unless you have a zero depreciation add-on cover

2. Deductibles - It is an amount that needs to be paid by the insured car’s owner at the time of claim settlement. Deductibles can either be compulsory or voluntary. Compulsory deductibles have to be mandatorily paid by you based on the cubic capacity of your insured car’s engine. In the case of voluntary deductibles, you voluntarily agree to pay the deductible amount to decrease the car insurance premium amount. Hence, your insurer will not pay for deductibles during the cashless settlement of your claims.

You May Also Read: Deductibles in Car Insurance

3. Consumables - It includes materials like fuel-filter, nuts-bolts, screws, grease, and oils that are consumed for the repair of the car. The cost of consumables will not be covered unless you have a consumables add-on cover

cashless car insurance

Benefits of a Cashless Car Insurance Policy

Cashless claims have become everyone's preferred choice under a car insurance policy. Here are some benefits of a cashless car insurance policy-

  1. Fast and Efficient- A cashless insurance policy means your claims will be settled faster with minimal formalities or paperwork. The whole process is easy and hassle-free as no exchange of cash is involved. 
  2. Transparent Process-In a cashless car insurance policy, there is absolute transparency in claim settlement. The whole process of paying the car repair bill to the network garage is done online and thus, has lower chances of fraud. 
  3. Convenience-In cashless car insurance claim settlements, the transactions are carried between the network garage and the insurer. Therefore, it is extremely convenient for you as you don't have to get bothered about making the payment.
  4. Excellent Services – The insurance companies usually have a tie-up with the best service centres in the location. So, you can be assured of giving your car in good hands and avail quality services anytime and anywhere.
  5. No Stress of Arranging the Cash – If you opt for cashless claims, you do not have to worry about arranging the money to pay the car repair bill and then wait for your insurer to reimburse the amount. Instead, the insurance company directly pays the claim amount under cashless car insurance online to the network garage.

Claim Settlement Process of Cashless Car Insurance 

To avail service at partner or network garages on a cashless basis, follow the below steps to raise a cashless car insurance claim-

  • Purchase a cashless car insurance policy for availing services at the network garage of your insurer.
  • When your insured car gets damaged, take it for repairs at the nearest network garage.
  • Once the repairs are done, the car repair bill is sent to your insurer. 
  • The insurer will examine the bills received from the network garage.
  • After verification, the claim settlement process will begin.
  • You will have to pay the amount for the deductibles, depreciation, and consumables.
  • Your insurer will pay the remaining bill amount directly to the network garage.

You May Also Read: Importance of Cashless Garages in India

How to Find Network Garages to Avail Cashless Car Repair Services?

The list of network garages of your motor insurance company is provided with your policy documents. You can also find the list of garages on the insurer website. To avail of cashless repair services for your damaged car, you can visit the nearest network garage in your location.

However, there could be times when all network garages are out of your reach, and you need to get your car repaired urgently. In this case, you can get the car repaired even at a non-network garage, pay the repair bill and keep the bill and payment receipt carefully. Then, you can raise a reimbursement claim so that your insurer compensates you for the damages sustained by your car under your policy.

Conclusion

A cashless car insurance claim is a convenient and transparent mode of claim settlement for both the car owner and the insurance company. However, certain expenses are not covered under the cashless car insurance policy. Thus, you must check all the terms and conditions and then raise a claim against your cashless car insurance policy online.

Written By: PolicyBazaar - Updated: 03 December 2021
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