Cashless Car Insurance

For new car buyers, the car insurance aspect of the policy is usually handled by the vehicle dealer. Thereafter, they only think about car insurance either at the time of policy renewal or in the event of a claim. The policy can be renewed via the car dealer but a claim can only be settled by the insurance company. Thus, it is important to know about the claim settlement process. This article is about the steps to claim cashless car insurance in India.

Car insurance companies work hard to make the car insurance process extremely convenient for policyholders. They try to make all the processes associated with car insurance super simple. When it comes to claim settlements, you as a Comprehensive Car Insurance policyholder have two options: Reimbursement Claim Process and the Cashless Claim Process. The following sections will help you understand the Cashless Process and the steps to claim cashless car insurance in India.

Also, Read: Motor Insurance Surveyor: Roles in Insurance Claims

The exact process to claim cashless car insurance might differ from one car insurance company to another. There might be subtle changes in the process based on the insurer’s tech support and overall strategy. Here’s an overview of the cashless car insurance in a stepwise manner.

Step 1: Contact your insurance company either by calling them or sending an email. Nowadays, some insurers have a dedicated section on their website/app to initiate a claim process. For example, Acko Login.

Step 2: Share the details about the car damage.

Step 3: Follow the stated process. For example, in case of a theft, you might be asked to file a First Information Report and share other supporting documents.

Step 4: For accident claims, the surveyor might visit the accident spot. Otherwise, the car shall be taken to a garage (of your choice), and the surveyor will examine the damages there.

Step 5: The surveyor and the mechanic will discuss and let you know the repair cost and the amount covered by the policy based on the coverage and the applicable terms and conditions.

Step 6: The car will be repaired and the bill will be settled between the garage and the car insurance company. The balance (deductibles) amount needs to be paid by you to the garage.

Note: In some cases, the towing of the vehicle to the garage and the delivery of the repaired vehicle is performed by the car insurance company.

Also, read: 6 Ways to Ensure a Successful Car Insurance Claim

Nowadays, digital-first insurers do not ask for a list of documents. They are not in favour of form-filling either. However, there might be instances where you may have to scan some documents and share them with them along with the damaged car’s photograph. They might also ask for a video of the damaged car. Some traditional insurance companies still rely on form-filling and ask for a list of documents to be submitted while registering a car insurance claim. The following list will give you an idea about these documents. Note that the requirements may vary from one insurer to another.

✅ Car insurance policy.

✅ Driving License.

✅ Registration Certificate.

✅ First Information Report from the police (for accidents).

✅ Cancelled cheque.

✅ Policyholder’s identity proof. For example, Aadhaar Card details.

✅ Claim form.

Also, read: Third-Party Car Insurance

If you are wondering which is better between the cashless and the reimbursement process, then there is no definite answer. The answer depends upon your choice. For some, one might be better over another. For example, if a policyholder wants to repair the damaged car at a friend’s garage that is not a part of the insurer’s network, the policyholder might go for the Reimbursement Process.

The fundamental difference between the two processes is that the claim is majorly settled between the insurer and the garage in the cashless process. And you must get the car repaired, settle the bill with the garage, and then file a Reimbursement Claim. As per this fundamental difference, the Cashless Process does seem to score over the Reimbursement Process in terms of convenience.

Also, read: When Should You Avoid Car Insurance Claims and Why