February 2022


What Are the Different Factors Based on Which a Claim for Consumables Two-Wheeler Insurance Cover Can Be Lodged?

Everybody takes the first chance they get to buy a vehicle of their own. That is especially true for two-wheelers. Compared to cars they are cheaper and offer a great deal of convenience on the road. However, having a vehicle is not just about adding convenience to your life. Owning a bike is also a big responsibility. Even after you have purchased a bike, you must bear expenses to keep the bike in good shape. This includes spending on the small things known as consumables that increase the overall cost.

What are the items used in a two wheeler?

When talking about two-wheeler or bike insurance, the word ‘consumables’ should come in your way. To shed some light on consumables, they are components of the automobile that are fully utilized when they are used. These are non-reusable components and cannot be refilled.

Materials such as screws, nuts, bolts, lubricants, brake oil, fuel filters, grease, air conditioning gas, etc. are included in consumables. Consumables are not usually part of the basic bike insurance policy and are usually included in add-ons that are available to buy with insurance providers.

Factors to be aware of while claiming a consumables cover

There are several factors to consider before claiming a usable cover on two-wheeler insurance. They include:

  • Report damage or accident immediately and have the vehicle repaired or repaired within 3 days of the accident – if this does not happen within the allotted time it is pointless to attempt to insurance claim because it does not count as eligible. Therefore, to avoid any claim rejection, it is always advisable to claim within the stipulated 3 days.
  • The consumables cover only works with its own damage coverage. Consumables are an add-on, so they fall under the umbrella of ‘own damage’ to the two-wheeler. In such cases, it is necessary to know about the terms and conditions of the policy to make the claim process much easier.
  • Consumable’s cover is only available for two-wheelers under 5 years of age. Vehicles older than 5 years are not eligible for usable cover.
  • As with most policy add-ons, the policyholder must have a clear copy of all valid driving licenses and insurance documents. If the documents are not submitted immediately after the accident or damage, the usable cover will be canceled or invalid.
  • Any wear and tear or deterioration of vehicle parts to consumables that is caused due to intoxication, malicious driving, etc. will not be eligible for a claim.

* Standard T&C Apply

While the consumables cover is part of the policy, it is an add-on. Hence, it is important to report any kind of damage or accident as soon as possible. The longer you take to make a claim, the more difficult claim settlement becomes. In such a situation, it is wise to ensure that all the damages to your bike are covered under your policy. Therefore, it is smart to buy a consumer goods cover, providing extra coverage for the two-wheeler in the event of an accident or damage. You must ensure that the coverage including the consumables cover falls within your set bike insurance price range. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

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How to Make a Claim for Cashless Car Insurance in India?

At the time of buying a new car, the purchase of car insurance is usually handled by the vehicle dealer. After that, the only time a car dealer will pay attention to the car insurance policy is during policy renewal or in case of a claim. While the policy can be renewed by the car dealer, the claim can only be settled by the insurance company. Therefore, it is important to know about the claim settlement process.

Car insurance companies work hard to make the car insurance process more convenient for policyholders. They try to make all the procedures related to car insurance very simple. When it comes to claim settlement, as a comprehensive car insurance policyholder you have two options. These are known as reimbursement claim process and cashless claim process.

What is the cashless claim process?

If your insurance company allows you to buy car insurance online, they will have the provision of cashless claims. A cashless claim is a type of claim where the garage and the insurance company will settle the bill among themselves if you meet the terms and conditions. You should only consider depreciation costs, deductible costs, and any other repair costs that are not covered by the policy. An important advantage of this type of process is that if the repair amount is too high, you do not have to immediately arrange the money for it. Whereas, in the reimbursement process, the policyholder must pay for repairs and receive the reimbursement later.

Cashless claims are possible due to the affiliation between insurance companies and garages. Network garages are garages that have tie-ups with insurance companies for a cashless claim settlement. Since there is a tie-up between the garage and the insurance company, the process between the two is streamlined. This ensures that the claim is settled quickly and easily. * Standard T&C Apply

Steps to Claiming Cashless Car Insurance:

The exact process of making a cashless insurance claim is decided by the insurance company. Hence, you would have to check with your insurance provider about the process as well as the technical support they provide for it. Here is a step-by-step overview of making a cashless car insurance claim:

  • Contact your insurance company by calling or sending an email. Nowadays, some insurance companies have a special section on their website to start the claim process.
  • Share the details of what caused the car damage.
  • Follow the procedure outlined. For example, in the event of a theft, you may be asked to file a first information report and share other supporting documents.
  • For accident claims, the surveyor can visit the accident site. Otherwise, the car must be taken to the network garage and the surveyor will see the damage there.
  • The surveyor and mechanic will discuss and inform you about the cost of repairs and the amount covered by the policy based on the coverage and applicable terms and conditions.
  • The car will be repaired, and the bill will be settled between the garage and the car insurance company. After this process, you will need to pay the remaining balance amount which is the deductible amount to the garage.

* Standard T&C Apply

The best thing about cashless claims is that they are an in-built feature. This means that you do not have to purchase an add-on or suffer higher car insurance prices to have access to the cashless claim facility. Hence, if you do not already have it, you should buy a comprehensive car insurance policy at the earliest. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

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