Cholamandalam Commercial Vehicle Insurance
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About Cholamandalam Commercial Vehicle Insurance
Cholamandalam commercial vehicle insurance is designed to protect business-owned vehicles, such as trucks, buses, auto-rickshaws, cabs, etc., from damages caused by accidents, theft, collisions, natural and man-made calamities, etc. The Cholamandalam MS General Insurance Company Ltd. is a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group. It is renowned for offering a wide range of insurance products, including motor, health, travel, home, commercial vehicle insurance, etc. The company offers 24x7 customer support, and aims to maintain full transparency by using simple words instead of technical jargons.
Key Features of Cholamandalam Commercial Vehicle Insurance
| Feature | Description |
| Third-Party Liabilities | Covered |
| Own Damage Protection | Covered in Comprehensive Insurance |
| Personal Accident Cover | Up to ₹15 Lakh for owner-driver |
| Add-Ons | Available |
Benefits of Cholamandalam Commercial Vehicle Insurance
A commercial vehicle insurance from Cholamandalam MS General Insurance Company Ltd. offers the following benefits:
- 16,800+ network garages.
- 24x7 customer support
- Fast and dedicated claim assistance
- Several add-ons available for enhanced protection
Types of Cholamandalam Commercial Vehicle Insurance
Cholamandalam MS General Insurance Company offers two types of commercial vehicle insurance:
- Third-Party Commercial Vehicle Insurance: This policy is mandatory by law and only covers third-party liabilities such as injury, death, and property damage. This type of insurance does not cover any damages caused to the insured vehicle. Third-party commercial vehicle insurance premium is decided by the IRDAI.
- Comprehensive Commercial Vehicle Insurance: It offers protection for damages caused to the insured vehicle and also covers third-party liabilities. A comprehensive commercial vehicle insurance is ideal for protection against accidents, theft, fire, natural calamities, etc.
Coverage Under Cholamandalam Commercial Vehicle Insurance
- Third-party injuries, death, or property damage
- Damages due to accidents and collisions
- Losses due to fire, explosion, or self-ignition
- Damages caused by theft or burglary
- Losses caused by natural disasters
- Any damage or loss incurred due to riots, terrorism, and vandalism.
- Damages caused due to regular wear and tear or depreciation
- Losses incurred due to electrical or mechanical breakdown
- Damages incurred if the driver is under the influence of alcohol or drugs
- Losses incurred if the vehicle is used outside the permissible geographical area.
- Damages incurred while using the vehicle for illegal purposes
- Losses caused if the driver is driving without a license.
- Consequential losses or intentional damage
Cholamandalam Commercial Vehicle Insurance Add-Ons
Cholamandalam MS General Insurance Company Ltd. offers the following add-ons to enhance the coverage of a standard commercial vehicle insurance:
- Zero Depreciation Cover: Policyholders are entitled to get the full cost of replaced or repaired parts without deducting depreciation based on the age of the vehicle.
- IMT 23: Parts such as tyres and tubes, lamps, mudguards, side parts, bonnet, bumpers, headlights, etc, are not covered under a basic comprehensive plan. Policyholders can purchase the IMT 23 add-on to cover damages caused to these parts after deducting the depreciation costs.
- Accessories Cover: This add-on covers damages caused to the additionally-fitted electrical and non-electrical accessories, such as fog lights, seat covers, music systems, etc.
- Personal Accident (PA) Cover: It is a mandatory cover as per the IRDAI to cover for the owner-driver in case of disablement or death. The PA cover is up to ₹15 lakh.
How To Buy Cholamandalam Commercial Vehicle Insurance?
You can easily buy and renew Cholamandalam commercial vehicle insurance online using the steps mentioned below:
- Visit policybazaar.com and navigate to the "Commercial Vehicle Insurance" section.
- Enter the vehicle details, such as vehicle registration number, RTO, make, model, etc.
- Select the add-ons, IDV, NCB, etc
- Choose the preferred Cholamandalam commercial vehicle insurance plan.
- Pay the premium and proceed to payment.
- The policy will be sent at the registered email.
How To File Cholamandalam Commercial Vehicle Insurance Claim
Vehicle owners can use the following steps to file a Cholamandalam Commercial Vehicle Insurance Claim:
Inform the Insurance Company
Call the 24x7 toll-free number or log in to the portal to report the incident.
Damage Assessment
A surveyor will be assigned by the insurer to inspect the vehicle and the damages caused.
Document Submission
Submit all the necessary documents to file the claim.
File an FIR
In case of any third-party damages, file an FIR at the nearest police station.
Repairs and Claim Settlement
Once the claim is verified, the insured vehicle will be repaired at a garage, and the claim will be settled.
Documents Required to File Cholamandalam Commercial Vehicle Insurance Claim
To file a Cholamandalm commercial vehicle insurance claim, you can follow the steps mentioned below:
- Filled and signed claim form
- Copy of insurance policy
- Vehicle registration certificate (RC)
- Valid driving license
- FIR in case of third-party damage, theft, or injury
- Repair bills and estimates (for reimbursement claims)
- Load challan or invoice (if the vehicle was carrying goods)
- Permit and fitness certificate
FAQs
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Is commercial vehicle insurance mandatory in India?
Yes, all commercial vehicles must have at least third-party insurance to ply on Indian roads legally. -
Can I buy Cholamandalam commercial vehicle insurance online?
Yes, you can easily purchase and renew your commercial vehicle insurance online via the official website of Cholamandalam MS General Insurance Company Ltd. or on websites like policybazaar.com. -
What is covered under Cholamandalam commercial vehicle insurance?
Cholamandalam commercial vehicle insurance covers third-party liability, own damage, theft, fire, natural calamities, and accidents.
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Is Cholamandalam commercial vehicle insurance policy easy to download?
Yes, you can easily download Cholamandalam commercial vehicle online either via policybazaar.com or using the customer login portal of the insurer itself. -
How can I renew my Cholamandalam commercial vehicle insurance?
You can easily renew your Cholamandalam commercial vehicle insurance online using the official website. Enter your policy number or vehicle details, choose the add-ons, IDV, and NCB to renew the existing policy. -
What to do if my commercial vehicle is stolen?
File an FIR immediately and inform the insurer to file a Cholamandalam commercial vehicle insurance claim in case your vehicle is stolen. -
Can I transfer NCB from my previous insurer?
Yes, Cholamandalam MS General Insurance Company Ltd. allows NCB transfer if the policyholder switches from another insurance provider.
Secure your commercial vehicle
Renew via self video inspection
Lowest premium starting ₹ 3,139
Standard T&C Apply.
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*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
“20+ insurers to choose from#” and “1.2cr+ vehicles insured#” are provided for both private cars and commercial vehicles
^Renew policy in 2 minutes is subject to operations not being impacted by a system failure, technical glitch, insurer downtime, force majeure event, or for reasons beyond our control. Actual transaction time may vary, subject to additional data requirements and operational processes.
“For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale” “All savings and online discounts are provided by insurers as per IRDAI-approved insurance plans | Standard Terms and Conditions Apply”.
+₹3,139/- excluding GST per annum is the price for third-party commercial vehicle insurance for Electric Goods Carrying E Cart 3-Wheeler (commercial).
