Cashless Car Insurance

Cashless car insurance, as the name suggests, doesn't involve any kind of cash reimbursement. Instead, it allows the policyholders to settle their claims in a cashless manner.

In other words, a cashless car insurance policy is a type of policy that allows the policyholders to get their claims settled at the network facilities of their insurance providers without having to pay anything out of their pocket.

Over the last few years, cashless car insurance policies have gained increasing popularity for the numerous benefits they provide. Some of the notable advantages of a cashless car insurance policy are listed below:

Quick Claims Settlement: As soon as any unfortunate event comes your way, a surveyor is assigned by the insurance company to take care of the situation on your behalf. It helps in speeding up the claims settlement process.

Transparency: Cashless car insurance ensures a higher degree of transparency to the policyholders. When you use a service at a network facility, the estimated cost is sent to the insurance provider even before the start of work.

Further, a trusted representative from the insurance company closely monitors the process from beginning to end. It means both the insurance provider and the insured go through the settlement process in a fair and transparent manner.

Access to High-quality Network Facilities: The best cashless car insurance providers like us have tie-ups with the best network facilities such as auto garages and healthcare facilities. These are highly reliable and have experienced professionals who provide you with the best-in-class services.

No Cash Required: Unlike conventional insurance policies, cashless car insurance policies don't require you to pay the bills out of your pockets. It means that you can optimise your savings without worrying about making last-minute fund arrangements in case of emergencies.

Smooth Claims Procedure: Last but not least, the cashless car insurance online claim process is much smoother and non-complicated as compared to insurance that involves cash reimbursements. You don't have to worry about arranging a lot of bills and invoices as this type of insurance requires less paperwork. On top of that, you can make car insurance claims online from the comfort of your home.

While a cashless car insurance policy offers all kinds of inclusions, there are some exclusions you must be aware of. The following are the things that are not included in a cashless car insurance policy:

Deductibles

Deductibles refer to the amount paid by the car policyholder at the time of making a claims settlement.

There are two types of deductibles in car insurance: voluntary deductibles and compulsory deductibles. As the title suggests, voluntary deductibles refer to an amount you pay voluntarily with the objective of reducing the premium cost.

The higher the deductible amount, the lower the premiums will be. On the other hand, compulsory deductibles must be paid mandatorily by the car owners as per the terms and conditions of their insurance provider.

Consumables

In most cases, the cost of consumables, such as oil, grease, nuts & bolts, filters, etc., is not covered by the cashless car insurance. However, you can purchase a consumables add-on cover at an additional price to enjoy this extra coverage.

Depreciation

Depreciation refers to the overtime decrease in the value of a four-wheeler and its parts. Before settling the claim, the insurance company deducts the depreciation amount of your vehicle. If you don't want to get affected by the depreciation of your vehicle, you can invest in a zero depreciation add-on cover.

The process of cashless car claim insurance varies from one inside provider to another. Below is the standard approach followed by most insurers for cashless claims settlement:

Step 1: The first thing you should do as soon as you meet a car accident or any unforeseen event covered by your insurance is to inform the insurance provider. You can easily do so online via the website of your insurance company.

Step 2: Share each and every detail about the vehicle's loss or damage.

Step 3: Follow the process depending on the type of loss. For instance, if your car is stolen, you will be required to file an FIR and submit its copy along with other documents to the insurance provider.

Step 4: Once you have raised a claim, the company will send a surveyor for its verification based on the type of event. After that, your vehicle will be sent to a network facility for repairs and replacements.

Step 5: The insurance company surveyor and network facility mechanic will estimate the repair cost and inform you regarding the total amount that will be covered by your policy.

Step 6: Your vehicle will be repaired at the network garage, and the bills will be settled directly by the insurance company. Depending on the type of policy, you will only have to pay the deductibles and consumables you opted for earlier.

Our cashless car insurance policies are designed to offer the most comprehensive coverage to the policyholders at affordable premiums.

At Tata AIG, we have 7,500+ network garages where you can get your vehicle repaired by certified and experienced professionals. You can use our car insurance garage locator for the same purpose.

So, save your time and effort and proceed to our motor insurance page to buy car insurance that aligns with your requirements. If you are not sure which policy to buy, you can also compare car insurance policies depending on the type of coverage, cost, features, and other factors.

Call us for more information!

Cashless car insurance is highly convenient as it involves a cash-free settlement of your claims. Not only does it offer a quick settlement, but it also provides you with comprehensive coverage. The best part is you can customise your car insurance policy as per your requirements and budget and make it even more comprehensive by purchasing certain add-ons and covers.

So, if you haven't purchased car insurance, don't think twice before buying a cashless car insurance policy from us.