|Own Damage Cover
|No Claim Bonus
|Zero Depreciation cover
|Upto Rs. 15 Lakh
Add-ons are optional covers offered under a Chola MS own damage car insurance policy. These add-ons extend the coverage of a standard OD coverage and can be purchased by paying an extra premium. The additional covers offered by Cholamandalam General Insurance Company include:
A Cholamandalam own damage cover can be purchased online by following the steps mentioned below:
To raise a Cholamandalam Standalone own damage car insurance claim, a policyholder will need the following documents:
Ans: No. An OD cover is not a mandatory cover as per the motor laws of India. With the new guidelines of IRDAI, purchasing a OD cover along with a 3 year third party coverage is not mandatory anymore. Thus you will have the option to purchase or renew this cover for the second year.
Ans: An OD cover can be purchased for a period of 1 year after which it has to be renewed.
Ans: To raise a claim under Cholamandalam own damage car insurance, you can follow the steps mentioned below:
Ans: Any car owner who has bought his/her car after 1st September 2018 and has a TP cover for 3 year is eligible to purchase a Cholamandalam standalone own damage car insurance.
Ans: A third party liability insurance covers any third party damages caused due to an insured car. It compensates for third party property damage, death and injury of the third person. Whereas an OD cover only covers any own damage sustained by the insured car due to unforeseen incidents such as accidents, theft, fire, etc. This policy can be purchased along with the mandatory third party car insurance to extend coverage to own damages as well.
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