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.
|Features||Coverage and Benefits|
|Claim Settlement Ratio||96%|
|Personal Accident Insurance||Up to Rs. 15 Lakh|
|No Claim Bonus||Yes|
Take a detailed look at the benefits of the car insurance policy provided by Cholamandalam MS General Insurance Company below:
Cholamandalam MS General Insurance Company offers three major types of car insurance plans. These are:
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.
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 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.
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.
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.
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.
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.
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.
This add-on cover compensates the policyholder with the amount incurred on obtaining the duplicate key of the insured car in case the original keys are lost
The cost of new keys and locks is covered.
A Personal Belongings cover provides coverage for the loss or damage to personal belongings due to fire, theft or accident of the insured car.
An amount of up to Rs. 10,000 per policy period will be given for the loss of personal luggage locked inside the car during the accident/fire.
Under the roadside assistance add-on cover, Chola MS car insurance provides assistance in case of fuel shortage/ breakdowns/ flat tyres/ battery recharge and other on-site repairs of the insured car.
Any repair done using this add-on will not be counted as a claim. Thus, it will not impact your NCB.
Reinstatement value cover ensures that motor insurance claims can be made for the original value of the insured car, i.e. the invoice value (adjusted for registration charges and road tax).
No deductions will be made towards depreciation on parts that are repaired under this cover.
Follow these steps for Cholamandalam car insurance renewal online:
You can file a claim under Chola MS car insurance by following these steps:
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.
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.
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.
Make sure to keep all these documents handy while filling a claim with Cholamandalam MS General Insurance Company:
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