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Cashless Bike Insurance

  • Pan-India network garages
  • 24x7 claims support

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What is cashless two wheeler insurance policy

A cashless two-wheeler policy allows you to get your two-wheeler repaired at any of the listed garages without having to pay any money out of your pocket. Most insurers tie up with a large number of garages to provide services to the insured. You can take your bike to any of these garages, and it will be repaired as per the cover you have chosen. Once the repairs are made, the bill is sent directly to the insurer. Your insurer would then pay the monies directly to the garage.

It is important that you inform the insurer about the damage before the repairs are made. While the insurer would pay for the damages covered by your insurance, you will have to pay for any additional damages. For example, most bike insurance policies do not cover electrical failures.

Sometimes it may be too difficult to get a cashless service. For example, if your bike fails in a region where the cashless garage is far away, you can pay for therepairs out of your pocket and have the insurer refund the amount to you. You should nevertheless inform the insurer of the damage as soon as possible to allow them to assess the damage and process your claim in time.

Benefits of two wheeler insurance policy

A two wheeler insurance policy covers you not only against any damage sustained by your bike in a road accident but also against any damage due to a natural or man made disaster. Further, bike insurance also provides a third-party cover that indemnifies you against any damages to a third party involved in an accident.

Remember that getting third-party two wheeler insurance is mandatory in India. A good two wheeler insurance policy makes it easier for you by rewarding you with a No Claim Bonus if you do not file any claims through the policy period. Essentially, NCB translates into a discount on the insurance policy premium that you have to pay.

Over the years, the process of filing a claim against your bike insurance has become simpler as well. Today, you can complete the claims process online and have your bike repaired in a cashless manner.

You can also customise your two wheeler insurance policy to meet your specific needs. Even if you miss out on some add-on covers at the time of purchase, you can add them in at the time of renewal. Some of the most beneficial add-on covers you can opt for are:

  • Personal accident cover for the pillion rider
  • Depreciation cover

Let us not forget that getting a two wheeler insurance policy keeps you on the right side of the law. It also earns you a sense of security as you know that any costs resulting from an unforeseen incident will be taken care of by your insurer.

The process to claim a cashless two wheeler insurance policy

Follow the steps below to file a cashless two wheeler insurance claim:

Step 1: If a third-party is involved, note down their contact details and vehicle registration number if they too were driving or riding a vehicle.

Step 2: Note down the contact details of any witnesses.

Step 3: Inform your insurance company about the incident and get information about the nearest cashless garage on their network.

Step 4: File an FIR at the nearest police station and get a copy of the report.

Step 5: Provide all the requisite documents to the insurer. A representative would contact you to collect the same.

Step 6: A surveyor from the insurer would inspect the damage and make an approximation of the expenses involved. Once the approval is made, the garage would start working on the repairs.

It is important to remember that your safety comes first. If you are injured in the accident, prioritise your treatment over everything else. You could inform the insurer when you are able to, or ask a representative to do the same on your behalf.

It is possible that not all expenses will be covered by your cashless bike insurance policy. Please read the policy terms and conditions closely to ensure that you are aware of inclusions and exclusions. This helps to avoid any unpleasant surprise in your hour of the need.

FAQ

What documents are needed for buying a cashless two wheeler insurance policy?

Can we avail claim in cashless two wheeler insurance policy if the bike is stolen?

Comprehensive bike insurance usually covers theft as well. Please read the policy terms and conditions to check the extent of the coverage. This cannot be cashless as you will be compensated for the loss and not a service provider.

What will be the maximum amount cover we get under a cashless two wheeler insurance policy?

The maximum cover provided for own damage under cashless two wheeler insurance is equal to the insured declared value of the bike. Please read the policy terms and conditions to check for any sub-limits on the sum insured.

Cashless Two Wheeler Insurance Policy is valid for how many years?

You can opt for a policy period of one, two or three years for your cashless two wheeler insurance policy.

The premium of your cashless two wheeler insurance policy depends on the following factors:

  • Insured Declared Value of the two-wheeler
  • Cubic capacity of the engine
  • Age of the two-wheeler
  • Geographical location
  • No claim bonus
  • Whether the two-wheeler will be used for commercial or personal purposes

Hi there!

Let us help you explore and buy a new policy.

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