If you have a car, you need to have vehicle insurance. Finding the best car insurance plan for your needs can seem overwhelming. It’s always a good idea to opt for a comprehensive car insurance plan as the policy covers third-party damages as well as repairs to your vehicle. To benefit from your vehicle insurance policy, you need to file a claim after an incident. You can opt for a cashless claim at a network garage or choose to get reimbursed after completing the repairs. Most insurance companies, including Edelweiss General Insurance Company India, highlight the importance of cashless claims. Let’s take a look at what they are and how they work.
What Is a Cashless Claim Settlement?
With a cashless claim settlement, your insurance company settles the bill directly with the garage, as long as your claim is accepted and valid. A cashless claim is less financially stressful as it doesn’t require large payments immediately.
Insurance companies have tie-ups with various garages, known as network garages. Your chosen insurance company will provide you with a list of network garages where you can get your vehicle fixed and enjoy a cashless claim settlement. If you opt to get your car repaired at a non-network garage, you will have to file for a reimbursement claim. Here, you must pay for the repairs first and then wait for your insurance company to settle the amount with you.
What Is the Process to File for a Cashless Claim Settlement?
If you’d like to file for a cashless claim, you need to follow these steps:
Step 1: Let Your Insurance Company Know
After an incident or accident, get to safety and inform the insurance company that you want to file a claim. You can call the toll-free number on your policy, contact your agent, visit the nearest branch or write an e-mail to the insurance company. Some companies allow you to register your claim online. Check your policy documents to understand what you should do.
Step 2: Share Required Documents
Before you can file a claim, you need to let your insurance company know what happened. In accident and theft cases, you will have to file a First Information Report (FIR) and send a copy along with your claim application. You may have to submit a copy of your policy and driver’s license along with the date and time of the accident. If somebody else was driving the vehicle, you need to share a copy of their license. Sometimes, the insurance company sends a surveyor to the accident site to check the damage. Today, most insurance companies allow online video surveys. You can complete this quickly and efficiently with a smartphone.
Step 3: Find the Right Garage
Before repairing your vehicle, you can call your insurance company’s call centre. Ask them where you can find the nearest network garage or workshop tie-up. The mechanic at the garage will properly survey the damage and let you and the insurance company know what kind of repair work is required.
Step 4: Understand the Cost
Your insurance company will settle all covered costs up to the sum insured amount. But you need to take care of deductibles and other costs that the policy doesn’t cover. Once you get your car, your insurance company will settle most of the bill. You only have to pay the balance.
Purchasing car insurance online can seem overwhelming as there are many options available. While browsing for a policy, you should ensure that your preferred insurance company provides cashless claim settlements. If you can, check if your preferred garage is part of the company’s network.