Two-Wheeler Insurance policy
India is going big on digital money and cashless
transactions. Nowadays from auto drivers, vegetable vendors to supermarkets,
everywhere cashless payment method is available and it’s convenient as well. So
why not in insurance services! Cashless mode of transaction was first
introduced in Health Insurance sector. Customers were in various sectors struggled
with this mode of money transactions, but eventually it gained popularity after
experiencing its benefits. Many hospitals, service shops, shopping malls, etc.
in the country prefer cashless mode of transaction in case of emergencies or
Many of us will not be equipped with emergency cash or
financial backups, because all of us sometimes neglect the probability of any mishap
or accidents or sudden mechanical breakdowns of our vehicle. But in few
unfortunate times, this may not be true. In such situations cashless insurance
policy is a savior. After the successful application in Health Insurance
sector, cashless insurance service was implied in every other sector including
There are two basic policies which all two-wheeler owners
This policy provides an extensive coverage under various situations for the
policyholder. Also known as ‘other than collision’ cover, this plan covers third-party
liabilities due to body injuries and/or accidental death/property damage, own
liabilities arising out of personal losses and/or property damage from natural
calamities and/or man-made calamities. The premium for this plan is high due to
the extensive insurance coverage the plan provides. Insurers usually provide a
number of add-ons that you can opt for under the comprehensive plan.
cover: Also known as third-party insurance, this plan provides cover
against all the legal liabilities that arises due to damages or injuries caused
to a third-party person or property by the insured vehicle. Personal losses
covered under this plan include accidental death, body injuries, permanent
disability, etc. This insurance cover can be availed at a lower premium as it
covers only third-party liabilities. This cover allows you to raise a claim
under the ‘no-fault liability claims’ category. Here, you are allowed to raise
the claim without having to provide proof that suggests your negligence caused
the accident. Sometimes insurers provide personal injury protection cover as an
add-on for this insurance policy.
What is Cashless
two-wheeler insurance policy?
Most companies today offer cashless transactions facility
with the insurance policy. As the name suggests, if the policyholder needs
emergency vehicle service or he/she has been in an accident, they do not have
to pay money either in the hospital or in the garage to avail the facility.
Every insurance company will have a network with garages and hospitals across
the country in various locations, where they can send help to policyholder’s
location. These officials will take care of all the repair work or medical
facilities without the policyholder having to pay a single penny.
How to claim cashless
two-wheeler insurance policy?
If the two-wheeler is damaged or has been in an
accident, the first thing you should is to inform the insurance company and
explain the incident in detail.
Few of the insurance companies prefer that the
policyholder should reach the nearest location of garage, with whom the insurance
company has a tie-up for two-wheeler inspection. If it si not possible, then the insurer will
send an Inspection official to the location to inspect the vehicle.
Once the official completes the inspection, you
will have to hand-over the keys of the vehicle along with insurance policy
details to them. As per policy cover chosen by you, the cost of the repair will
On completion of the necessary repairs or as
suggested by you, the garage will send invoice and bills to the insurance
company for further payments.
In case of accidents caused by you to the
third-party or own damage, on informing the insurance company, they will send
help immediately to the location for further medical assistance.
Once you reach the hospital, you will be asked provide
details of the insurance policy and rest will be communicated to the insurance
provider by the hospital office.
provide cashless insurance service to their customers:
ICICI Lombard General Insurance Co.Ltd.
IFFCO Tokio Reliance General