Cholamandalam Commercial Vehicle Insurance
If you are looking to purchase an insurance cover to protect your commercial vehicle, you can go with the Cholamandalam commercial vehicle insurance policy. The policy covers third-party damages, own damages, drivers and passengers of a commercial vehicle. It safeguards you from financial and legal troubles that may arise while driving on the road.Read more
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Features of Chola MS Commercial Vehicle Insurance
A Chola MS commercial vehicle insurance policy offers the following features to a policyholder:
- Easy Claim Process: The claim process at Chola MS General Insurance company is simple and hassle-free. The company also lets policyholder decide whether he/she wants to have an online claim process or the offline one.
- Cashless Repairs: Chola MS has more than 8,000 authorised network garages and service centres across India. All these garages offer cashless repair facilities thus reducing the financial burden on the policyholder.
- Multiple Discounts: The Cholamandalam General Insurance Company also offers multiple discounts on insurance premium to its customers. These discounts include No Claim Bonus, discount on Automobile Association membership, anti-theft discounts, voluntary deductibles and more.
- 24*7 Customer Support: The motor insurance company also offers 24*7 customer support assistance to its policyholders. The customer support team is readily available on multiple channels like live chat, email, and call.
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Types of Chola MS Commercial Vehicle Insurance Policy
There are two major types of commercial vehicle insurance policies offered by Chola MS General Insurance Company. These are:
Chola MS Third Party Commercial Vehicle Insurance
A Chola MS third-party liability commercial vehicle insurance policy provides coverage for any third party damage caused due to the insured car due to an accident. This policy covers third party property damage, death and injury to the third party.
A third-party commercial vehicle insurance policy is the minimum requirement as per the motor laws of India. However, the scope of this policy is only limited to third-party damages.
Chola MS Comprehensive Commercial Vehicle Insurance
A Chola MS comprehensive commercial vehicle insurance policy offers a wider coverage to the policyholder. It covers the insured commercial vehicle against any unforeseen damage that it may sustain on road.
Damages arising out of events such as theft, accidents, fire, strikes, etc are covered. Moreover, this policy also covers accidental third party liabilities arising out of the insured commercial vehicle.
A comprehensive commercial vehicle insurance is not a mandatory cover but recommended as it offers a wider coverage to the policyholder.
Inclusions under Chola MS Commercial Vehicle Insurance
A Chola MS commercial vehicle insurance plan compensates for the following damages and losses:
- Damages sustained by the insured commercial vehicle due to manmade acts like strikes, riots and terrorist acts are covered.
- Compensation is also offered for any damage arising out of natural disasters like earthquakes, cyclones, storms, etc.
- Losses arising out of theft or burglary of the insured commercial vehicle are also included
- Damages caused to the insured vehicle due to fire, self-ignition or explosion
- Any damage sustained by the insured commercial vehicle while it was in transit via any mode of transport is also covered
- Damages to the third party arising out of the insured commercial vehicle
- Losses arising out of external means such as road accidents are also covered under Chola MS commercial vehicle insurance cover
Exclusions under Chola MS Commercial Vehicle Insurance
Damages and losses that are not covered under a Chola MS commercial vehicle insurance policy:
- Any damage caused to the insured commercial vehicle while driving under the influence of alcohol or drugs is not covered
- Chola MS will not offer coverage if the driver was not carrying a driving license when the vehicle sustained damages
- If the accident was due to willful negligence of the driver, the insurer will not cover such damages
- Any damage or loss caused due to nuclear war, radioactivity or civil war will not be covered
- Damages to the commercial vehicle due to any mechanical or electrical failure are excluded from policy coverage
- Damages sustained by the insured vehicle if being used for unlawful reasons
- General ageing, and wear and tear over the years will not be covered under the Chola MS commercial vehicle insurance.
Additional Covers under Chola MS Commercial Vehicle Insurance
A policyholder can also enhance the coverage of his/her Chola MS commercial vehicle insurance by purchasing additional covers offered by the insurance company. These add-ons include:
- Roadside Assistance Cover
- Zero Depreciation Cover
- Consumables Cover
- Reinstatement Value Basis Cover
- Personal Accident Cover for Owner/Driver
- NCB Protect Cover
- Daily Cash Allowance Cover
- Key Replacement Cover
Renewal Process under Chola MS Commercial Vehicle Insurance
Follow these simple steps for a hassle-free Chola MS commercial vehicle insurance renewal online:
- Visit the official website of Policybazaar Insurance Brokers Private Limited i.e. Policybazaar.com
- Navigate to the ‘Commercial Vehicle Insurance’ page via the ‘Insurance Products’ menu
- Now enter your name and mobile number in the given form
- Proceed with the ‘View Free Quotes’ option
- Now select the type of commercial vehicle from the table
- Also select your vehicle brand, model, variant, RTO and registration year
- Select expiry date of previous commercial vehicle insurance policy along with claim details
- From the mentioned insurance plans, find Chola MS commercial vehicle insurance cover
- Select the desired add-ons along with your plan
- Fill out the proposal form with the rest of the details and
- Pay the premium amount once it's verified by the insurance company
- After successful payment, your Chola MS commercial vehicle insurance renewal online will be complete. You will receive your policy papers at your email address.
Claim Process under Chola MS Commercial Vehicle Insurance
To raise a Chola MS commercial vehicle insurance claim, follow the steps mentioned below:
- Inform the Insurer: Firstly, intimate the insurance company about the accidental damages sustained by the insured vehicle.
- Assessment of Damages: The insurance company upon intimation will send a surveyor to assess the damages. The surveyor will then prepare a cost estimate for repairs.
- Submit Documents: You will now be required to submit adequate documents based on the type of insurance claim.
- Repairs: The insured commercial vehicle will be sent for repairs in one of the insurer's network garage
- Claim Settlement: Once the repairs are complete, the insurance company will directly settle the cashless claim with the garage. If it's a reimbursement claim, the amount will be reimbursed to you after the repairs.
Chola MS Commercial Vehicle Insurance FAQs
Q1. Are there any documents required to raise a claim under the Cholamandalam commercial vehicle insurance policy?
Ans. Yes, you will need the following documents to raise a Chola MS commercial vehicle insurance claim:
- Duly filled and signed claim form
- Chola MS commercial vehicle insurance documents
- Copy of driving license
- Copy of vehicle’s Registration Certificate
- Copy of vehicle Fitness Certificate
- Repairs Bills
- Copy of Police FIR
Ans. You can check your Chola MS commercial vehicle policy status by visiting the ‘Customer Self Service’ portal on the insurer’s website. Alternatively, you can also sign-in to your Policybazaar account and check your commercial vehicle insurance policy status online.
Ans. To download your Chola MS commercial vehicle insurance policy online, you can follow these steps:
- Visit Policybazaar.com and sign-in to your account
- Once signed in, you will be directed to your account dashboard
- Find your Chola MS commercial vehicle insurance policy and
- Download it in soft copy format.
You can also visit the official website of Chola MS General Insurance Company to download your policy copy.
Ans. The policy tenure for Chola MS commercial vehicle insurance is 1 year after which you are required to renew it on yearly basis.
Ans. No, you cannot have one policy for all your commercial vehicles. Chola MS offers commercial vehicle insurance policies separately for all types of commercial vehicles. Thus you will need one commercial vehicle insurance policy for each of your vehicles.
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