As per the Motor Vehicles Act of India, it is mandatory for every vehicle plying on the roads to be insured with at least a third-party liability cover. Having a car insurer protects the insurer against unforeseen liabilities arising as a result of mishap.
Now, claim settlement is an important aspect of the car insurance and the process can be broadly classified into two; reimbursement claim process and cashless claim process, out of which cashless claim process is more popular among the car owners.
Cashless garage or network garage is a garage authorised by the insurer for the repair of a vehicle insured under them. Usually the insurers will have tie-ups with a number of garages which could fix any insured car post a mishap, provided that the insured has availed the cashless garage facility at the time of policy purchase or renewal. Once the car is repaired by a cashless garage, the insurer pays the garage for the repairs made. Here, the insured is benefited as he/she will not have to pay for the repairs at all except for the value of vehicle’s depreciation at the time and the deductibles.
Cashless Settlement Process
Cashless claim settlement includes the following steps:
Advantages of Cashless Garage
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