Most Trusted Car Insurance
Chola MS Car Insurance
The Chola MS car insurance policy is an ideal policy for people searching for motor insurance that will cover any loss or damages sustained by their car due to accident, theft, fire, etc.. This vehicle insurance policy offered by Cholamandalam MS General Insurance Company also covers third-party liabilities arising out of the insured car.
About Cholamandalam MS General Insurance Company
Cholamandalam MS General Insurance Co. Ltd. is a joint venture between the India-based Murugappa Group and a Japanese insurance company, the Mitsui Sumitomo Insurance Company.
Cholamandalam MS General Insurance Co. Ltd. is a rapidly growing insurance provider in India. The company was awarded the best insurance company in India for 'In time claims settlement for the year 2011 - 2012'. The car insurance offered by Cholamandalam MS General Insurance Co. Ltd. caters to the different needs of the customers by offering different types of policies as well as extra additions to increase the scope of policy coverage.
Key features of Chola MS Car Insurance
Third-Party Coverage
Yes
Claim Settlement Ratio
N/A
Personal Accident Insurance
Up to Rs. 15 Lakh
Network Garages
4,636
No Claim Bonus
Yes
No. of Zero Dep Claims
2
No. of Comprehensive Claims
Unlimited
Benefits of Chola MS Car Insurance
Take a detailed look at the benefits of the car insurance policy provided by Cholamandalam MS General Insurance Company below:
By renewing Chola MS car insurance from Policybazaar.com, a policyholder can receive a discount of up to 25% (max. Rs.1500) on OD premium if the car was repaired in a preferred network garage.
Cholamandalam MS General Insurance Company has an authorised network of 4,000+ garages all across the country, which provides the facility of cashless settlements.
Customers may choose to enhance their protection by adding add-on covers, such as Depreciation cover, Roadside Assistance cover, NCB Retention cover and more.
The insurance company gives the facility of 24*7 customer support and claim assistance for efficient and quick assistance.
Types of Chola MS Car Insurance Policy
Cholamandalam MS General Insurance Company offers three major types of car insurance plans. These are:
Third-Party Car Insurance Policy
The Third Party car insurance by Cholamandalam car insurance protects a policyholder from any financial loss arising out of accidental third party liabilities involving the insured car. Under this plan, the insurance company will provide coverage against third-party property damage, third party injury or death.
The liability in case of third-party injury/death is unlimited, while in case of property damage, it is limited to Rs. 7.5 lakh.
Standalone Own Damage Car Insurance Policy
The Standalone Own Damage car insurance policy covers the damages sustained by the insured car due to events like accidents, natural calamities, manmade disasters, fire or more. This policy can be purchased with an existing third-party liability car insurance plan to cover own damages as well.
Comprehensive Car Insurance Policy
Comprehensive car insurance is an extensive policy as it covers both own damages to the insured car and third-party liabilities arising out of the insured car. Some of the perils covered under this policy include manmade acts, natural calamities, fire, etc. The coverage of a comprehensive insurance policy can also be enhanced by purchasing add-on covers on the payment of some extra premium.
Chola MS Car Insurance Premium Calculator
Before purchasing a Chola MS motor insurance policy, you can also calculate the estimated premium by using the Cholamandalam car insurance premium calculator to check whether it fits your budget or not.
Covered/Not covered Under Cholamandalam Car Insurance
What is Covered?
Third-Party Liability
Legal protection from death or disability claims from third parties and third-party property damage is included.
Manmade Causes
Loss or damage that occurs to the car due to manmade causes like malicious acts, strikes, riots, etc.
Theft
Damages arising due to burglary, theft or housebreaking are covered.
Natural Calamities
Any loss or damage to the car that occurs as a result of natural calamities like earthquakes, floods, typhoons, hurricanes, etc., is included.
Fire
Damages to the insured car due to fire, explosion, self-ignition or lightning.
Damages During Transit
Damage that occurs to the car while it is in transit by road, rail, inland waterway, lift, elevator or air are covered.
Terrorist Acts
The insurance company will offer coverage against damages to the insured vehicle arising out of terrorist activities.
What is not Covered?
Wear & Tear or Breakdown
Maintenance-related issues, such as normal wear & tear, ageing of vehicle parts, or mechanical and electrical breakdowns, will not be covered.
Drunk Driving
Any accidental damage or loss when driving under the influence of any drug or alcohol will not be covered.
Invalid Driving Licence
Cholamandalam MS car insurance does not accept claims for accidental damages or liabilities that occur while the car is being driven without a valid licence.
Outside Geographical Location
Accidents outside the policy's geographical limits are not covered.
Damage During War
Any damage or loss arising due to civil war or nuclear peril.
Inactive Policy
Damages sustained by the insured car when the policy was inactive will be excluded from the coverage.
Wilful Negligence
Damages arising due to negligence on the part of the car owner, such as due to speed racing, will not be covered.
Chola MS Car Insurance Add-Ons
NCB Protection Cover
By purchasing an NCB Protection cover, a policyholder can retain his/her No Claim Bonus discount even after making a claim during the policy year.
This add-on helps keep NCB intact for a maximum of three claims per year.
Waiver of Depreciation Cover
The Waiver Depreciation add-on covers the cost of depreciation for the repair or replacement of the insured car at the time of claim filing.
This cover compensates a policyholder for the complete coverage without deducting the depreciation borne by the insured car.
Hydrostatic Lock Cover
The Hydrostatic Lock cover will provide compensation for repairing/replacing car parts, such as gearbox, engine, transmission, etc.,
due to ingress of water or leakage of coolant/lubricating oil in an accident.
Consumables Cover
The Consumables add-on will compensate a policyholder for repairing or replacement of consumables items damaged in an accident.
These include items such as screws, bolts, fuel, oil filters, etc.
How to Renew a Chola MS Car Insurance Policy?
Follow these steps for Cholamandalam car insurance renewal online:
How to File a Claim Under Chola MS Car Insurance
You can file a claim under Chola MS car insurance by following these steps:
Intimation
Inform the insurance company about the incident involving your car for a fast claim registration.
Filling Claim Form
Fill out the claim form to register your claim. Make sure to keep all the relevant documents handy.
Inspection
A surveyor from the insurance company will inspect the damages sustained by the insured car. The documents related to the policy will also be verified.
Claim Process
Your claim will be settled with the network garage where the insured car has been repaired in case of cashless claims. In the case of a non-network workshop, the claim amount will be reimbursed to you after you have paid the bill in full.
Documents Required to Raise a Claim Under Chola MS Car Insurance
Make sure to keep all these documents handy while filling a claim with Cholamandalam MS General Insurance Company:
Car Insurance for Popular Brands in India
FAQs - Chola MS Car Insurance
-
How many modes of payment are allowed in Chola MS Car Insurance?
You can pay your Cholamandalam car insurance premium online via cards, direct bank debit, or through the insurer’s mobile app. -
How to know the policy status of my Chola MS Car Insurance policy?
You can check the status of your Chola MS car insurance policy by using your login details to log into your profile on the website of the insurance provider. If you are a Policybazaar customer, you can check your policy status from your account on Policybazaar.com -
What is the time taken by the Chola MS motor insurance company to settle a claim?
The Chola MS General Insurance Company takes 30 days to settle a claim after the completion of the paperwork at your end. So, make sure to provide the required details, such as your medical bills and, proof of hospitalization expenses (if any) and other supporting documents, while raising the claim. -
How do I proceed if I need to cancel my Chola MS car insurance policy?
To cancel your Cholamandalam car insurance policy, you need to walk into any of the nearest branch offices of the insurance company, carry the policy documents and fill up the surrender form. After completion of these formalities, the company shall initiate a refund of the premium after deducting all the nominal charges. Alternatively, you can also call customer care and request them to cancel your four-wheeler insurance policy. -
Why should I buy Chola MS Car Insurance?
Considering the conditions of the roads in India, IRDAI has made it mandatory to have insurance coverage for all vehicles. Moreover, driving without having a third-party liability insurance cover is illegal, as per the Indian Motor Vehicle Act, 1988. -
What will be the tenure of the Chola car insurance policy?
As per the latest guidelines of IRDAI for new cars, it is mandatory for insurers to give third-party liability insurance coverage for three years. For old cars, you can opt for a third-party, comprehensive or standalone own-damage policy that needs to be renewed yearly.
Explore more plans by car model
Chola MS Car Insurance Reviews & Ratings
Car Insurance Articles
- Recent Article
- Popular Articles
Can You Raise a Car Insurance Claim If a Tree...
Yes, you can raise a claim under your car insurance if a tree
Read more
Does Parking Location Affect Your Car Insurance...
Yes, your parking location can influence your car insurance
Read more
GST Input on Car Insurance: Eligibility and Rules
If you pay GST on your car insurance premium, you may wonder if
Read more
EV Insurance Claim Process in India
Filing an Electric Vehicle (EV) insurance claim is similar to that
Read more
How Long Should You Keep Car Insurance Records?
You should keep your basic car insurance records for the proof of
Read more
#Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
+Savings are based on the maximum discount on own damage premium as offered by our insurer partners.
^Lowest Price Guaranteed is based on certifications shared by insurers with us. Policybazaar will facilitate price matching subject to the terms and conditions of select insurers.
##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.
