The cost of medicine has gone through the roof. Though new medical innovations and cures are being designed every day, one cannot ignore the rising costs of medical treatments as well as medicines. It, therefore, becomes very difficult for a common man to afford the hospital bills. This is where insurance comes into the picture. Even two wheeler insurance plans offer the benefit of cashless hospitalization to policyholders. Let’s understand how this works:

Two wheeler insurance plans allow various types of add-ons if you choose comprehensive coverage. These add-ons increase the scope of coverage and promise enhanced benefits from the policy. One such add-on is a medical cover add-on. Under this add-on, if the policyholder faces an accident involving his bike and is hospitalized, the hospital costs are taken care of by the two wheeler insurance policy. What’s even better is the fact that this personal accident cover provides the facility of cashless hospitalization to the policyholder. Cashless hospitalization is immensely beneficial in case of a medical contingency. Here’s understanding of the concept of cashless hospitalization and its many benefits –

What is cashless hospitalization?

Cashless hospitalization is when the insurance company directly pays the medical bills to the hospital without the policyholder having to bear the costs himself.

Benefits of cashless hospitalization

Here are five main benefits of cashless hospitalization for policyholders–

#1 Freedom from shouldering medical costs

The primary benefit of cashless hospitalization is that you are freed from shouldering your medical costs if you get injured in an accident while riding the insured bike. The insurance company settles the bills directly with the hospital and you don’t have to draw upon your finances to meet the high medical costs.

#2 Financially relieving

Given the high medical costs, shouldering one’s medical bills is a financial nightmare. If you have a cashless hospitalization facility you are ensured that your finances would be secured in a medical emergency. This relieves you and gives you financial security.

#3 The promise of the best medical care

When you know that your medical bills would be taken care of by the insurance company through cashless hospitalization coverage, you don’t worry about the costs of different medical treatments. You can, therefore, avail the best available treatments without wondering if such treatments would be affordable on your pockets or not as according to the latest updates, a medical cover of 15 lakh is provided to the policyholder.

#4 Quick claim settlements

Cashless claim settlements have a fast turnaround time. You just have to inform the insurance company about hospitalization, fill up a simple claim form and the insurance company would take care of the rest. If you have taken treatments at a networked hospital the insurance company would coordinate with the hospital and pay for your medical bills. You just have to shell out a small portion of the claim amount under deductibles. Then your claim would be settled at the earliest without any delays.

#5 Minimal paperwork

The beauty of cashless claim settlement is that it is not only easy and quick but it also involves minimal paperwork. You just have to fill a pre-authorization form after hospitalization. You would have to submit this form with your identity proof and the process is complete. You don’t have to collect medical bills and submit it with the insurance company to get the settlement of your claim.

Given these benefits of cashless hospitalization wouldn’t you want your two wheeler insurance policy to provide you with this facility?

If you do, you should get your bike covered with an online two wheeler insurance policy. If you are unsure whether the policy allows you this add-on, compare bike insurance policies of different companies to find out which company allows you the medical cover add-on. When you compare bike insurance you can find out the policy offering the cover for cashless hospitalization. You can also compare the cost of the add-on in different policies and then buy an online two wheeler insurance policy which offers the personal accident cover at the lowest premium.