Q1. Can I transfer my existing Cholamandalam third-party car insurance if I choose to sell my car?

Ans: Yes, it is possible to transfer your third-party car insurance in case you have sold the vehicle. Please note that such transfer can only occur in the name of the new buyer and not to a new vehicle. You would need to apply to Cholamandalam MS General Insurance Company within 14 days from the date of the vehicle's transfer.

Q2. For how long will my Cholamandalam third-party car insurance be valid?

Ans: A third-party car insurance plan is valid for 1 year from the date it is bought. However, keep in mind that it is mandatory to buy a minimum 3-year cover for brand new cars.

Q3. Is buying Cholamandalam Third-Party car insurance necessary if my car is old?

Ans: The Motor Vehicles Act, 1988 has made it mandatory to buy at least a third-party car insurance plan without making any distinction between old or new vehicles. Having said that, it is cheaper to buy car insurance for an older car as the value of the vehicle depreciates with time.

Q4. What will happen to my No Claim Bonus if I raise a claim only once a year under my Cholamandalam third-party car insurance?

Ans: A No Claim Bonus reward is not offered with a third party car insurance policy. This discount is only available under comprehensive plan and resets to zero as soon as a claim is raised.

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Chola MS Third Party Car Insurance

Cholamandalam third-party car insurance policy covers the policyholder from unplanned legal and financial liabilities in the case of an unforeseen car accident leading to injuries to a third party or damage to their property. This car insurance policy by Cholamandalam General Insurance Company fulfills this basic requirement by providing you coverage for legal and financial liabilities towards a third-party.

Benefits of Cholamandalam Third Party Car Insurance

Purchasing a Cholamandalam third party insurance offers you following benefits:

Covered Legally: With a Chola MS third party car insurance policy, you fulfill the mandate of having a car insurance policy.
TP Liability Cover: By purchasing a third party cover, you will be covered in case of any third party liability. TP liabilities include death, disability and property damage.
Low Premium: The premium for a Chola MS third party car insurance is also low as compared to other policies.
PA Cover: With a Chola third party insurance, you can also cover the death or disability of the owner/driver of the insured four-wheeler.

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Coverage Under Cholamandalam Third-Party Car Insurance

Inclusions
Exclusions

If your vehicle causes damage to the vehicle/property of a third in an accident, the car insurance will cover it.
The car policy provides compensation to the third party victim who has been injured in an accident caused by the insured car.
It also pays compensation in case the accident leads to the death or permanent disability of the third party victim.
In case there are additional people injured in the course of the accident, you would be covered against the liability for the injuries sustained by them.

If the accident was staged or caused deliberately
Any damage sustained by the policyholder's vehicle or any belongings in the car, not just in an accident but also in the case of theft or fire
Damage caused to the third party via an accident caused due to the owner of the vehicle being intoxicated
Any sort of liability occurred due to an accident outside the specified geographic location
An accident caused by a vehicle without valid registration or the driver not carrying a valid license
Non-adherence to traffic signals such as jumping red lights, driving on the wrong side of the road, or not following the speed limit

How to Purchase Cholamandalam Third Party Car Insurance Policy?

A Cholamandalam third party car insurance can be bought by following the steps mentioned below:

Visit Policybazaar.com and select the “Car Insurance” tab from the homepage
Enter your car number in the given form or proceed with “Brand New Car” option
Now select your car details such as make, model, variant, RTO, and registration year
Fill in the registration details and proceed
From the list of third party car insurance policy, find Chola MS car plan and select it
Once you have selected the plan, make premium payment via online payment mode
After final payment, your Cholamandalam third party insurance policy will be mailed to you.

Documents Required to Raise a Cholamandalam Third Party Car Insurance Claim

Here are the documents you will need to raise a claim under Cholamandalam third party insurance:

Duly filled and signed claim form
FIR registered by the police
Copy of car's RC
Copy of DL of the driver
Report of the surveyor
Original repair invoice
Payment receipt

FAQs

Q1. Can I transfer my existing Cholamandalam third-party car insurance if I choose to sell my car?

Ans: Yes, it is possible to transfer your third-party car insurance in case you have sold the vehicle. Please note that such transfer can only occur in the name of the new buyer and not to a new vehicle. You would need to apply to Cholamandalam MS General Insurance Company within 14 days from the date of the vehicle's transfer.
Q2. For how long will my Cholamandalam third-party car insurance be valid?

Ans: A third-party car insurance plan is valid for 1 year from the date it is bought. However, keep in mind that it is mandatory to buy a minimum 3-year cover for brand new cars.
Q3. Is buying Cholamandalam Third-Party car insurance necessary if my car is old?

Ans: The Motor Vehicles Act, 1988 has made it mandatory to buy at least a third-party car insurance plan without making any distinction between old or new vehicles. Having said that, it is cheaper to buy car insurance for an older car as the value of the vehicle depreciates with time.
Q4. What will happen to my No Claim Bonus if I raise a claim only once a year under my Cholamandalam third-party car insurance?

Ans: A No Claim Bonus reward is not offered with a third party car insurance policy. This discount is only available under comprehensive plan and resets to zero as soon as a claim is raised.

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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in