Convenience of cashless claim is a major bonus in vehicle insurance

An insurance cover for your car should have built-in advantages and you need to ensure you pick one that offers both comprehensive cover and ease of claim, advises Jayanthi Madhukar.

Without an insurance cover, experts say it is not advisable to take the car on the roads. Financial safeguards for your vehicle in case of physical damage, bodily injuries, and third-party liabilities, ensure peace of mind. It is mandatory for every vehicle to have an insurance cover.

Today, insurance companies, like Bajaj Allianz General Insurance Company, incorporate technology and safety features into the car insurance packages, making it easier for claims. There are features like cashless claim settlement, motor-on-the-spot, and online claim filing, which make it hassle-free when you are stressed out about car damages.

So, whenever you are shopping for a good car insurance cover, make sure that these features are available. While it may seem unimportant when you don’t have any claims to make, their importance and significance come up in the unfortunate event of having to claim for accident-related damages. In these hectic times, matters such as insurance should be hassle-free – both, to buy/renew, and claim, for settlement. It is therefore very prudent to go through all the clauses carefully before buying a policy and paying for more inclusions. It is also prudent to ensure you buy a cover from a company that has a good service track record. You don’t want to wait for a long time for the surveyor in case of a claim. Also, a resourceful and knowledgeable staff will help you analyse the risks involved and get the sort of coverage you need.*

Here are some major features that make for a good insurance cover:

Cashless claim feature^

This is a convenient feature to have in a car insurance cover. The cashless claim settlement is a facility provided by the car insurance company in which the insurer is associated with authorized garages, which are referred to as network garages. If you want to repair your insured vehicle, you can take it to a network garage to avail cashless claim facility. You won’t be liable to pay for the vehicle’s repair - the insurer will cover all the expenses on your behalf. This is way better than the reimbursement claim settlement. *

In the latter, when you go to repair your insured vehicle in a garage, you are required to pay the whole amount at first. After which you should send all the relevant invoices and documents to the insurer; failure to produce any invoice will result in rejection of your insurance claim. Moreover, reimbursement claims take time to be settled. Hence, cashless claim settlement is better as it saves valuable time and you are also not required to pay the whole amount upfront. *

Bajaj Allianz General Insurance Company has the cashless claim settlement facility, one of the salient features of the car insurance cover. With the help of this facility, many of the activities will be taken care of by the insurer itself, such as getting your car towed and analysing the repair estimate generated by the garage. *

^ Claims are subject to terms and conditions set forth under car insurance policy

Motor on-the-spot feature

This is a mobile-based motor insurance claim settlement service, which allows you to settle your vehicle insurance claims up to Rs 30,000 for private cars and Rs 10,000 for two-wheelers within a short duration of time. *

With Bajaj Allianz General Insurance Company, all you need to do is use their App to file for claims, click and upload pictures of the damage done to your vehicle and receive the claim amount in your bank account instantly. This is a technology-driven feature that offers a stress-free experience in case of damage or accident. *

Cashless claim at a network garage^

The Bajaj Allianz General Insurance Company has a trouble-free process of raising a cashless claim. All one has to do is contact the insurer and if need be, contact the police and file a FIR.

The insurer reaches the accident spot and arranges for your vehicle to be towed to the nearest network garage where a thorough inspection is carried out. An estimate is given by the garage and after approval, repairs are undertaken.

The garage provides all the invoices to the insurance company and later, the insurer will also examine the bills and the vehicle. While the policyholder is liable to pay the deductible and the depreciation amount, the rest of the amount will be directly paid by the insurance company to the garage.

In case your car has been damaged beyond repair, the company will pay the market value of the car after calculating the depreciation value of the vehicle. *

^ Claims are subject to terms and conditions set forth under car insurance policy

Bajaj Allianz General Insurance Company’s special feature – the cashless claim – is one of their most appreciated and valuable features in a plethora of stress-free facilities that are available with some of their car insurance products. *

The App-based claim service can be a huge bonus for those on the move and not having the time for elaborate paperwork or waiting for a surveyor. With the App on your smartphone, making a claim and seeing it through till settlement is simple and can be tracked easily.

Convenience and speed are the most sought-after aspects of insurance and many may rank these factors high on their agenda while choosing a product and company.

As more vehicles hit the roads, more innovative products too might make their way into the market. Going forward, as technology makes it easier to transact and insurance becomes system-driven, tech-enabled products of companies such as Bajaj Allianz General Insurance Company may find favour with most buyers. *

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.