How Cashless Car Insurance is Beneficial?

Cashless car insurance is extremely convenient and makes your life easier. Here you will get to know about some of the benefits of cashless car insurance.

A Car Insurance policy protects the insured and the insured’s vehicle against any liabilities, losses, and damages suffered. It secures the vehicle owner financially against any unfortunate and unexpected incidents. If a car meets with an accident or has been stolen, the policy holder can make a claim and request the insurer for a settlement. The claim settlement can be done in two ways - a reimbursement settlement or a cashless settlement.

A reimbursement settlement, as the name suggests, is when the policyholder gets the vehicle repaired at a garage of his/her choice, makes the payment and thereafter gets it reimbursed from the insurer via a claim. In a cashless settlement, the policyholder can get the insured vehicle fixed in a garage listed under the insurer’s network. In this case, the payment is made directly to the garage by the insurer instead of being paid directly by the vehicle owner. However, it is important to note that the policyholder will have to bear the deductible and depreciation charges on both accounts.

Thanks to technology, insurers today have made a giant leap and allowed us the provision for  cashless car insurance . It can make one’s life as a vehicle owner a lot simpler. All you have to do is to contact your insurer immediately and they will guide you to the nearest garage or a tow service if needed. The garage will survey the damages and send an estimate of the repair to your insurer. Upon approval, the garage fixes your car. Once the repair is complete, you can take your car, while the insurer makes the payment. Listed below are some of the benefits of cashless car insurance.

• Cashless car insurance is extremely convenient and makes your life easier, in case of an accident. Your insurer takes care of the entire process and gets your car fixed in no time.

• When it comes to  car insurance , though the claim settlement process is hassle-free, it takes time. However, cashless car insurance is faster and almost immediate. This is because the payment is dealt with directly by the insurer.

• The policyholder does not have to spend any amount on the repair or replacement of the car, except for the mandatory minimal costs or the deductibles.

• If you are a first-time car owner, finding a good garage and trusting them with the health of your car can be difficult. But, with cashless car insurance, you can avail the best of services for your car from the vast network of garages listed under your insurer’s network.

• In the reimbursement process, you will have to go through a series of processes and formalities to get your claim amount reimbursed. However, there are no such processes in the cashless settlement process.

Cashless claims will make sure you are not burdened with the repair bills of your vehicle. It helps you by paying your claim amount directly to the garage so that you don’t have to bear such heavy expenses on your own. A cashless claims facility will ensure a smooth and hassle-free experience for you and will help you get the best support for your car.