When you buy a new car, more often than not, your insurance is provided by the vehicle dealer. The only time your involvement actually comes into play is during renewal or in case you need to raise a claim. Claims can be stressful so it’s good to know more about the processes, documents, etc. in advance so you are prepared in case you do need to raise one. It is important to understand that although your car insurance policy may have been chosen on the first instance by your vehicle dealer, for claims, you will need to reach out to the insurance company only. So it’s good to know more about the processes, documents, etc. in advance so you are prepared in case you do need to raise one.
What is a Claim with respect to car insurance?
A cashless claim is a type of claim in which the insurer directly settles the bill of damage repair with the network / preferred garage. All that is expected of the policyholder is to pay the deductibles, depreciation cost, and any other repair cost that is not covered under the policy. An advantage of this type of process is that you do not need to arrange the damage repair amount on short notice.
A cashless claim is possible because of the tie-ups between insurance firms and the garages. The garages that have a backup with the insurance companies to facilitate cashless claim settlements are termed network / preferred garages. In case you need to raise a claim, it is advisable to get your car repaired at a network / preferred garage for a quick and smooth claim settlement.
How does a Claim work for car insurance
To file car insurance online, you need to inform the insurance company about the accident or the damage instantly. In the unfortunate event of an accident that causes extreme damage, the insurer will usually send their surveyor immediately on the spot. If not, then you may need to take your vehicle to the nearest network garage or if your insurer provides roadside assistance, they may assist you to tow your vehicle to the garage.
Once the surveyor analyzes the damage and discusses it with the garage, the repair work begins and you are notified of the approximate bill and the insurance coverage amount. The insurer will cover the expenses as per the inclusions and the terms and conditions are given in your policy. The balance amount, which is usually marginal compared to the entire bill amount needs to be borne by you.
Steps to Claim Cashless Car Insurance
The exact steps to claim cashless car insurance might differ among different insurers. So, there might be a few differences in the process based on the insurer’s tech support and strategy. The below-mentioned claim process is a broad view of how the claim process can be initiated and how it works.
Step 1: Contact your insurance company either by calling them or sending an email. Nowadays, some insurers have a dedicated section on their website/app to initiate a claim process.
Step 2: Share the details about the damages caused to your vehicle.
Step 3: Follow the process stated by your insurer. For example, in case of a theft, you might be asked to file a First Information Report and share other supporting documents.
Step 4: For accident claims, the surveyor might visit the accident spot. Otherwise, you will have to take your car to a network garage and the surveyor will have a look at the damages there.
Step 5: The surveyor and the mechanic will discuss and let you know the repair cost and the amount covered by the policy based on the coverage and the applicable terms and conditions.
Step 6: Your car will be repaired and the bill will be settled between the garage and the car insurance company. The balance (deductibles) amount needs to be borne by you.
Documents you will need when Filing a Cashless Car Insurance Claim
The following list will give you an idea about the documents that are required while making a claim. Note that these requirements may vary from one insurer to another.
- Car insurance policy document
- Registration Certificate of the insured car.
- Claim form of the insurer
- Valid driving license
- First Information Report from the police (for accident claims)
- Canceled cheque
- Policyholder’s identity proof. For example Aadhaar Card
We hope that after reading this, you have a fair idea of how cashless claims work with respect to insurance. If you are looking to get your bajaj allianz car insurance renewed and would like to compare and buy plans from leading insurers then you must download or log on to the Bajaj Finserv.
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