Car insurance offered by Cholamandalam car insurance company has all the necessary features for comprehensive coverage. The financial compensation covered by this plan includes damage to third-party property and injuries suffered by individuals.
Chola Ms Third Party Car Insurance Policy Benefits
There are multiple benefits of buying the Chola MS Third Party Car Insurance. A few of them are mentioned below:
- Third-party protection: the policy will provide compensation and monetary support to the third party involved in the mishap. This makes it easy for the insured to deal with such legal and financial battles.
- Network garages: the company has around 4500 plus authorized garages throughout the company. Here the repair work and the settlement are done quickly and directly by the network garage.
- Smooth settlement: Cholamandalam MS General Insurance Company has 24x7 customer assistance. So the claim registration, assessment, and settlement are very smooth without any delays.
Chola Ms Third Party Car Insurance Claim Process
The claim process for the Chola MS Third Party Car Insurance is very easy.
Simply follow these steps and get the claim settled:
1. Get the insurance details: if one happens to be the third party victim in an accident. To get the claim, first, procure the insurance details from the driver/owner.
2. Filing and submitting the application: next, the legal representative of the third party must file and submit the application for compensation against the insurance owner.
3. File an FIR: after the submission of the insurance application, file an FIR about the accident. The report should contain the driver’s license number and any witnesses’ contact details. Keep the expense records and the copy of FIR handy.
4. Case registration with Motor Accidents Claims Tribunal: once the case is registered, the tribunal will scan the testimonies and evidence before reaching a decision. For the final judgment, the driver/owner, witnesses, and the victim’s legal representative will be summoned.
5. The final amount compensated: in case of injury or demise, the amount decided by the court of law/tribunal will be compensated, and there is no limit on this amount. For property damage, the maximum limit is Rs.7.5 lakhs, as decided by the IRDAI.
Chola Ms Third Party Car Insurance FAQs
Ans: The insurance can be bought by the car owner and the car that needs to be insured should be registered under the Regional Transport Authority of India.
Ans: The validity of the third-party insurance policy is mostly 1 year, and it should be mandatorily renewed before the due date. And for vehicles bought after September 1, 2018, the owner should have a 3-year policy.
Ans: The following documents will be required to process the Chola MS Third Party Car Insurance claim:
- Police registered FIR
- Original repair invoice
- Duly signed claim form
- Registration Certificate of vehicle (copy)
- Surveyor’s report
- Driving license (copy)
- Payment receipt
Ans: Yes, if one sells the car the Chola MS Third Party Car Insurance will be transferred to the new owner. And to finish the insurance transfer the new owner needs to fill and submit an application within 14 days of the sell transaction.
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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
“Tax benefit is subject to changes in tax laws. Standard T&C apply.”
Note: This is your car’s recommended IDV as per IRDAI’s depreciation guidelines.asdfsad However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.Read More