Chola MS Marine Insurance

Marine Insurance is one of the general insurance products offered by Chola MS, which is a leading insurance provider in India. The company offers various insurance products for both individuals and corporates. It is a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan.

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Chola MS Marine Insurance: Inclusions

Chola MS Marine Insurance policy provides coverage for the following perils:

Marine insurance policy provides coverage for loss of or damage to insured property caused by specific events.
The events covered include fire perils, sea perils, explosion, theft by persons from outside the vessel, jettison, piracy, breakdown or accidents in nuclear installations, contact with other objects, earthquakes, volcanic eruptions, and lightning.
The policy also covers accidents that occur while loading, unloading, or shifting cargo or fuel.
Damages caused by bursting boilers, machinery or hull defects, negligence of the crew, repairers, or charterers, and barratry of Master Officers or Crew are also covered.
The loss or damage should not be due to negligence by the owner or manager.
Master Officers Crew or Pilots holding shares in the vessel are not considered owners under this policy.
This insurance policy also provides coverage for loss or damage to the Vessel caused by government actions to prevent pollution hazards resulting from damage to the Vessel.

*To learn about the terms and conditions related to the perils covered in detail, refer to the policy wording provided by the insurer.

Chola MS Marine Insurance: Exclusions

Chola MS Marine Insurance does not provide coverage for the following perils:

The insurance company won't cover loss or damage caused by willful misconduct or negligence during transit.
If your goods are damaged due to unsuitable packaging or insufficient preparation, the insurance plan won't cover it.
The policy won't provide coverage for any loss caused due to delays in transportation.
Damage caused by radioactive nuclear waste is not covered under the plan.
The insurance won't cover loss or damage caused during war or war-like situations.
The policy won't cover loss or damage caused by strikes or riots.
Any loss or damage caused by weapons of war, like bombs or derelict mines, won't be covered by the insurer.
Liability arising from the unfitness of the vessel, craft, or container won't be covered by the insurance policy.

*To learn about the terms and conditions related to the perils that are not covered in detail, refer to the policy wording provided by the insurer.

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Chola MS Marine Insurance: Claim Process

Follow the steps given below to raise the claim under Chola MS Marine Insurance:

Notify Insurer: Inform the insurer about the incident as soon as possible.
Collect Evidence: Take pictures of the damage or loss caused as evidence.
Prepare Documents: Keep the necessary documents handy to submit along with the claim form.
Fill out Claim Form: Request the insurer for the claim form and fill it accurately.
Inspection: An inspector will be sent by the insurer to evaluate the loss or damage, and you should cooperate with the inspector.
Compensation: The insurer will initiate the process of sending the compensation amount to the insured after the inspector submits the inspection report.

Chola MS Marine Insurance: FAQs

Q1. Can I insure my vessel for international voyages?

Ans: Yes, Chola MS Marine insurance offers coverage for vessels used for international voyages, subject to the terms and conditions of the policy.
Q2. How long does it take for the insurer to settle my claim under the Chola MS Marine insurance policy?

Ans: The time taken for settling a claim under the Chola MS Marine insurance policy depends on various factors, such as the complexity of the claim, the nature of the loss or damage, and the accuracy and completeness of the documents submitted.
Q3. What documents are required for filing a claim under the Chola MS Marine insurance policy?

Ans: The documents required for filing a claim under the Chola MS Marine insurance policy may vary depending on the nature of the loss or damage. However, some common documents that you may need to attach with the claim form are the policy copy, original bills, receipts, survey reports, repair bills, and an FIR in case of theft or burglary.
Q4. Can I insure my cargo against theft?

Ans: Yes, Chola MS Marine insurance covers loss or damage to cargo due to theft, subject to the terms and conditions of the policy

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Policybazaar for Business - Marine Insurance - Customer Reviews

View all 114 reviews

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4.3

out of 5

Based on 114 reviews

14 users

87 users

13 users

0 users

0 users

3.8 April 20, 2023

Anas

Great Experience

I recently purchased Marine insurance from Policybazaar for my shipping business and I must say I am thoroughly impressed with their service and coverage. From start to finish, the experience has been smooth and hassle-free.Thankyou.

Mizoram

4.3 April 03, 2023

Vaishnav

Provides Comprehensive Protection

When it comes to coverage, Marine insurance that i bought from PolicyBazaar has exceeded my expectations. It provides comprehensive protection for my cargo and vessels during transit, ensuring I can focus on my business operations with peace of mind. Thankyou.

Assam

4.3 March 17, 2023

Umang

Excellent Services

I highly recommend Marine insurance from PolicyBazaar website to anyone in the shipping or logistics industry. Their user-friendly website, comprehensive coverage, and excellent customer service make them stand out from the competition. With Policybazaar, I feel confident in navigating the high seas, knowing that my business is well-protected. Thank you, Policybazaar.

Chennai

4.3 February 28, 2023

Vishal

User Friendly Interface

The website's user-friendly interface made it easy to compare different plans and find the perfect fit for my business needs.Thanks

Gurugram

4.3 February 11, 2023

Parth

Prompt Services

I appreciate the transparency and honesty with which Policybazaar handled my claims. They were prompt in processing my claim and their claim settlement process was hassle-free.Thanks PolicyBazaar.

Noida

3.8 February 10, 2023

Rishabh

Exceeds Expectations

I recently had the pleasure of purchsing marine insurance from Policy bazaar website and I must say it has been an outstnding experience from start to finish. I am thrilled to share my positive customer review, as this truly exceeded my expectations. Thanks PB.

Jamshedpur

3.8 January 31, 2023

Arvind

Easy Navigation

The ease of navigating the Policy bazaar website and finding the right marine insurance policy was impressive. The website's user-friendly interface and intuitive design made it incredibly simple to compare various options, understand the coverage details and make an informed decision. I appreciated the transparency provided throughout the process. Thanks.

Ajmer

3.8 January 21, 2023

Vishal

Excellent Support

The customer service provided by Policy bazaar was decent. Their team was responsive, knowledgeable and went above and beyond to assist me at every step. Their professionalism and commitment to customer satisfaction were truly commendable.Thankyou.

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4.3 January 11, 2023

Sanjeev Rathor

Efficient Process

When it came to claims processing, Policy bazaar demonstrated remarkable eficiency and effectivenes. I had an unfortunate incident during the coverage period and filing a claim was a breeze. The entire process was streamlined and their team guided me throuugh every necssary step, making it hassle-free. The promptness with which my claim was setled reflected their commitment to their customers' well-being and peace of mind. Thankyou.

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Comprehensive Coverage

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114 Review Item

Disclaimers⁺
*Savings of 42% are based on the comparison between the highest and lowest premiums for a Rs 50 lakh sum insured under Inland Transit Clause B or Institute Cargo Clause B for single transit cover of auto spare parts with shipment type of Inland(Domestic) and road as mode of transport. Premium varies on the basis of Occupancy, Business Activity & Coverage Type
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