Cashless Car Insurance

It is elucidated by many and at large that car owners need to have a car insurance policy. The Motor Vehicles Act of 1988 makes it mandatory. When it comes to selecting a policy, you primarily have two choices – third-party and a comprehensive cover.

Cashless Car Insurance – Meaning

Cashless car insurance is a medium of payment where the insurer directly settles the bill with the service garage in case of an accident or damages. This facility provides you with quick assistance for any damages that need to be fixed. By availing the cashless car insurance facility, you can avoid any hassles of paying first and then filing for a claim can be avoided.

What are the Benefits of a Cashless Car Insurance Policy?

1 Convenience: The convenience of a cashless car insurance policy makes it easy on your wallet. You do not have to pay the cost of repairs up front. The insurance company takes away your financial burden for the majority part of the repairs.

2 Fewer hassles: As compared to the reimbursement plan, a cashless car insurance policy has fewer formalities when it comes to claim documents.

3 Faster claim process: The claim times in case of cashless car insurance is much lower since the insurer directly deals with network garage.

4 Better resolution: Since there are tie-ups by the insurer with the network garages, the quality of service is better and quicker.

5 Transparency: Since the insurance surveyor is involved since the beginning of the process, there is a genuine case of billing and other costs required in the repairs.

What is an Endorsement in a Car Insurance Policy?

When it comes to understanding your car insurance policy, you might come across the term “endorsement.” But what exactly is an endorsement in an insurance policy? Let’s break it down in this blog.

Everything Know About Endorsements in Car Insurance Policy

In the world of car insurance, an endorsement is a crucial feature that allows policyholders to modify or add specific coverage to their existing insurance policy.

Why Are Endorsements Important?

Endorsements in car insurance are crucial because they ensure that your policy remains accurate and up-to-date. This accuracy is vital for the following reasons:

Claim Settlements: If your insurance details are accurate, settling claims becomes a smoother process. Inaccurate information can lead to claim rejections or delays.

Legal Compliance: Keeping your policy updated ensures that you are legally compliant with the insurance regulations.

Coverage Adjustments: Endorsements allow you to adjust your coverage based on your current needs, whether you’re upgrading your vehicle or making personal changes.

Beginner’s Guide to Comprehensive Coverage in Car Insurance

Comprehensive coverage is an important aspect of car insurance that provides financial protection from an array of risks that involves your vehicle against an unforeseen event.

What Does a Comprehensive Car Insurance Typically Cover?

Comprehensive coverage typically offers cover for the below:

Own Damage: Be secured from any accidental damage/loss due to man made or natural calamities. This includes fire, self-ignition, riots and strikes, burglary, landslides, earthquakes, storms, hurricanes, etc.

Liability to Third Parties: A cover for any legal liability arising out of bodily injury /or property damage of third parties caused due to an accident involving the insured car.

Personal Accident Cover: In the unfortunate event of the owner-driver death and/or permanent total disability arising out of an accident while traveling in the insured car, the sum insured will be paid up to the chosen limit.