Cholamandalam Home Insurance

3.9 / 5 based on 24 User Reviews

Cholamandalam Home Insurance Overview

Cholamandalam Ms General Insurance Company Ltd. is a joint venture between Murugappa group and Mitsui Sumitomo insurance group of Japan. Chola Ms brings a host of specially designed insurance plans such as Accident plans, engineering plans, health plans etc. The group has been extremely well in Indian market through a vast network of 113 branches and 7500 agents.

Home Insurance Plans

Having their own house is the integral part of every person. No matter how big or small, Flat or Bungalow, every person dreams about it. After all having your own house is symbol of both financial affluence and emotional safety. However one cant denied the fact that the house is prone to many potential threats like burglary, theft, fire and natural disasters like earthquake, tornados and storms.

Thus it needs care, safety and protection from any of unforeseen damages and disasters

The Cholamandalam home insurance plans are the ideal way to protect and safeguard the hard earned serene dwelling from such unexpected dangers. The home insurance plans offered by Chola Ms not only protect the house externally, but also covers the assets and valuable owned along with the structure.

Chola MS Home Insurance Package Plan

  • A comprehensive home insurance plan that protects your valuable property not just on the whole but also the structure and the home contents.
  • An option to protect and safeguard your complete assets along with the home. 
  • Protection from burglary & housebreaking to domestic and electrical appliances, and even the structure & contents of house.
  • Plan covers for self-owned houses as well as contents of rented houses.
  • Low premiums & Flexibility to choose the cover as per requirement.
  • Simple documentation and hassle free on-boarding process
  • Dedicated customer support for all your questions and issues

Plan Coverage

  • Damage to the home due to factors such as fire, earthquake, lightning, landslide, flood, cyclone, and storm, overflow/bursting of water tanks, strikes, riots, malicious acts, acts of terrorism and damage due to aircraft or any articles dropped from an aircraft.
  • Damage and loss due to house break-ins or burglary
  • Damage or loss of Jewellery and valuables belongings, due to accident or misfortune within India
  • Accidental breakage of Plate glass.
  • Mechanical or electrical breakdown of Domestic appliances.
  • Total loss due to mechanical or electrical breakdown or due to an accident of Domestic electronic equipment.
  •  Loss or damage to baggage during travel within India
  • Personal accident cover in the event of loss of life and repatriation of mortal remains for up to four persons

Plan Exclusions

  • Loss , destruction or damage caused by war, invasion , act of foreign enemy, hostilities or war like operations, civil war , mutiny etc.
  • Loss or damage due to depreciation or wear and tear.
  • Loss of earning, loss by delay, loss of market or consequential or indirect loss or damage of any kind or depreciation including those caused by spoilage.
  • Loss, damage or destruction of the insured property due to pollution or contamination.
  • Damage or loss to motor house/property s, cycles or livestock.
  • Damage of loss to consumable items.
  • Damage for which the supplier or the manufacturer of the property is responsible, under the Maintenance Agreement.
  • Defects, flaws, partial fractures or cracks that develop over time but do not necessitate immediate stoppage, although repair or replacement of the parts might be needed at some future time.
  • Deterioration, wearing away or wearing out of any item due to normal use or exposure.
  • Damage due to willful gross negligence or a willful act of the plan  holder or his employee(s).
  • Damage caused by faults that pre-existed the commencement of the current insurance plan  and not known to the plan  holder, regardless of whether such defects or faults were known to the company or not.
  • Lettered, silvered, embossed, and curved, ornamental or any glass other than plain and of ordinary glazing quality.

 Chola Total Home Protect Plan.

  • A unique tri fold insurance cover plan covering the property, valuable belongings and the family itself.
  • Comprehensive protection covers for the structure of the home, valuable contents and family members against unforeseen, unfortunate events.
  • Hassle free on-boarding and claim process to save most of the time spend by the plan  holder.
  • Flexibility to choose Sum Insured from wide range of sum insured.
  • The plan  duration is for 1 year.
  • Building structure of built up area of 5000 sq feet are covered under this plan and cover is applicable only for buildings up to 30 years of age as per plan  commencement date.
  • Available as three different plans – Silver , Gold and platinum
  • Household Contents with consolidated value of Rs 25 lakhs are covered.
  • Domestic electrical appliances of value up to 12.5 lakhs are covered under the plan for electrical appliances up to 7 years of age as per plan  commencement date.
  • For silver and gold plans , maximum of 1 unit of electrical appliance can be covered , however for platinum plan option , 2 units of any electrical appliances can be covered.
  • Jewellery and other valuable personal belongings up to the consolidated value of Rs 1 lakh is covered.

Plan Benefit.

  • Cover for building structure: Chola MS Total Home Protect offers cover for loss or damage to the building structure due to
    • Fire, lightning, implosions, explosions, strike, riots or malicious acts
    • Earthquakes, shock, landslide or subsidence
    • Flood, inundation, storm, typhoon, tempest, tornado, hurricane or cyclone
    • Missile testing operations
    • Acts of terrorism
  • Cover for Contents The contents of the house can be insured against loss or damage due to:
    • Fire, lightning, implosions, explosions, burglary, strike, riots or malicious acts
    • Earthquakes, shock, landslide or subsidence
    • Flood, inundation, storm, typhoon, tempest, tornado, hurricane or cyclone
    • Missile testing operations
    • Acts of terrorism
  • Replacement of Domestic Electrical Appliances (such as television, washing machine, refrigerator, microwave, AC) can be covered against electrical or mechanical breakdown or fault.
  • Cover for Jewellery and Valuables against burglary, theft, damage by fire, flood and earthquake. To make the process simpler No invoice or valuation certificate is required at the proposal stage.
  • Any plate glass such as glass exteriors, bay window or balcony glass walls are duly covered against external damage under the plan.
  • Loss of the baggage during travel within India is compensated for at the market value of the items lost, subject to the sum insured.
  • Purchase Protection Cover offers automatic protection for new domestic appliances bought within the plan  duration for a period of 30 days from the purchase date. The cover is offered against damage by fire, floods, earthquake, etc. This is over and above the Contents Cover.
  • Additional Rent for Alternate Accommodation: If the insured home is damaged or undergoing repairs and the plan  holder needs to stay at an alternate rented accommodation, Chola MS will bear the additional rent payable towards temporary rented accommodation.
  • Family Floater Accident Hospitalization Cover: For situations where the immediate family (the plan  holder, spouse and/or two children) sustain accidental injuries that require hospitalization, the medical expenses are covered by the insurance plan .
  • Personal Accident Cover: A fixed amount is offered in case of an unfortunate accident to the immediate family (the plan  holder, spouse and/or children) that results either in permanent disablement or fatality.

i

Death

100% of SI

ii

Loss or Permanent Loss of use of two limbs, two eyes or one limb and one eye

100% of SI

iii

Loss or Permanent Loss of use of one limb or one eye

50% of SI

iv

Total and irrecoverable loss of speech and hearing

100% of SI

v

Total and irrecoverable loss of hearing in

 

 

a) Both ears

75% of SI

 

b) One ear

25% of SI

vi

Total and irrecoverable loss of speech

50% of SI

 

  • Public Liability: Covers legal liability towards a third party due to damage/injury/death to the third person or their property within the insured building structure.
  • Workmen's Compensation: The Workmen’s Compensation Act holds the employer responsible for compensating for injury and illness to an employee (including domestic help) within the premises of the insured building structure. The Workmen's Compensation is meant just for this type of legal liability.

Plan Exclusions

  • The plan benefits shall exclude any damage, destruction or loss related to bullion, unset precious stones, curios or works of art valued at over INR 10,000, plans, drawings, manuscripts, securities, stamps, cheques, coin or paper money, documents, computer system records, business related books, explosives.
  • Any Damage or loss to motor house/property s, cycles or livestock or loss to consumable items
  • Damage for which the supplier or the manufacturer of the property is responsible, under the Maintenance Agreement as duly expressed under the plan scope.
  • Defects, flaws, partial fractures or cracks that develop over time but do not necessitate immediate stoppage, although repair or replacement of the parts might be needed at some future time.
  • Deterioration, wearing away or wearing out of any item due to normal use or exposure.
  • Damage due to willful gross negligence or a willful act of the plan holder or his employee(s).
  • Damage caused by faults that pre-existed the commencement of the current insurance plan  and not known to the plan  holder, regardless of whether such defects or faults were known to the company or not.
  • Damage or loss during transport by any carrier under contract of loading and unloading.
  • Lettered, silvered, embossed, and curved, ornamental or any glass other than plain and of ordinary glazing quality.

General Terms and conditions of the Cholamandalam Home insurance plans.

  • Notice shall be given in writing to the Company immediately upon the occurrence of any accident and in the event of any claim. Every letter claim writ summons and/or process shall be forwarded to the Company immediately on receipt by the insured.
  • Notice shall also be given in writing to the Company immediately the insured shall have knowledge of any impending Prosecution Inquest or Fatal Inquiry in respect of any accident which may give rise to a claim under this Plan.
  • No admission, offer, promise, payment, or indemnity shall be made or given by or on behalf of the insured without the written consent of the Company which shall be entitled if it so desires to take over and conduct in the name of the insured the defense or settlement of any claim or to prosecute in the name of the insured for its own benefit any claim for indemnity or otherwise and shall have full discretion in the conduct of any proceedings or in the settlement of any claim and the insured shall give all such information and assistance as the Company may require.
  •  If the Company shall make any payment in settlement of any claim and such payment includes any amount not covered by this Plan the insured shall repay to the Company the amount not so covered.
  • The insured shall take all reasonable steps to maintain the insured property in efficient condition and the company shall have at all times free and full access to examine the insured house/property or any part thereof.
  • The Company may cancel the plan  by sending seven days notice by recorded delivery to the insured at insured’s last known address and in such event will return to the insured the premium paid less the pro rata portion thereof for the period the plan  has been in force or the
  • Return of the premium by the company will be subject to retention of the minimum premium of Rs.100/- (or Rs.25/- in respect of house/property s specifically designed/modified for use by blind/handicapped/mentally challenged persons). Where the ownership of the house/property is transferred, the plan cannot be cancelled unless evidence that the house/property is insured elsewhere is produced.
  • If at the time of occurrence of an event that gives rise to any claim under this plan there is in existence any other insurance covering the same liability, the Company shall not be liable to pay or contribute more than its ratable proportion of any compensation, cost or expense.
  • If any dispute or difference shall arise as to the quantum to be paid under this plan (liability being otherwise admitted), such difference shall independent of all other questions be referred to the decision of a sole arbitrator to be appointed in writing by the parties to the dispute or if they cannot agree upon a single arbitrator within 30 days of any party invoking Arbitration, the same shall be referred to a panel of three arbitrators comprising two arbitrators one to be appointed by each of the parties to the dispute / difference, and a third arbitrator to be appointed by such two arbitrators who shall act as the presiding arbitrator and Arbitration shall be conducted under and in accordance with the provisions of the Arbitration and Conciliation Act, 1996.
  •  The due observance and fulfillment of the terms, conditions and endorsement of this Plan  in so far as they relate to anything to be done or complied with by the insured and the truth of the statements and answers in the said proposal shall be conditions precedent to any liability of the Company to make any payment under this Plan .
  •  In the event of the death of the sole insured, this plan will not immediately lapse but will remain valid for a period of three months from the date of the death of insured or until the expiry of this plan (whichever is earlier). During the said period, legal heir(s) of the insured to whom the custody and use of the Motor House/property  passes may apply to have this Plan  transferred to the name(s) of the heir(s) or obtain a new insurance plan  for House/property .
  • For cases where such legal heir(s) desire(s) to apply for transfer of this plan or obtain a new plan for the house/property such heir(s) should make an application to the Company accordingly within the aforesaid period. All such applications should be accompanied by:-
    1. Death Certificate in respect of the insured
    2. Proof of title to the house/property
    3. Original Plan.

Cholamandalam Home Insurance - FAQs

1. How to pay premium? What are the modes of payment available?

You can pay your insurance premium in THREE ways

Direct Bank Debit (Auto Debit): You can avail the auto debit facility/directly transfer the cash to the Cholamandalam MS General Insurancebank account. You will get a discount in your premiums, too.

Online Payment: Pay your premium online using your Debit/Credit card on the e-Portal

Mobile Payment: Recently the insurer has launched mobile application to pay car insurance premium.

2. How can I check my policy status for Cholamandalam home insurance?

Existing policyholders can log into the insurer’s website with their valid login details to check the policy status.

New users must create their account first and then can check their policy status. It just takes 5 minutes to register.

3. What is the policy renewal process for Cholamandalam home insurance?

Online or mobile registered users can directly renew their policy on the go. However for others, they must visit any of the nearest branches in the city to fill up the renewal form and attach a cheque of premium amount.

Process for online users

Step 1: Please login with your login ID and password on the e-Portal

Step 2: Choose mode of Payment- Debit/Credit card, Net Banking

Step 3: Complete payment and print the cyber receipt

4. What is the company process to settle the claim for Cholamandalam home insurance?

Cholamandalam MS General Insurance ensures claims are settled within a specific period of 30 days, provided the claims form is duly filled and the essential documents (medical reports and bills) are attached and deposited in any of the branches in the city.

5. What is the policy of cancellation process for Cholamandalam home insurance?

To cancel the policy you need to walk into any of the nearest branch offices in your city with your policy documents and a duly filled surrender form. The premium refund will be made, upon deducting the applicable charges.

Cholamandalam Home Insurance Reviews

TOTAL REVIEWS (24)
Uttam
Ooty
August 02, 2016

Good Plan

My home insurance plan is perfect which provides the full coverage of any cause. The reimbursement is there for natural calamities and theft, burglary, housebreaking etc. The policy recover the valuable items and belongings too.

Manish
Haldaur
July 21, 2016

Home plans

Home insurance plan for my house is from cholamandalam ms insurance. Policy was suggested by my colleague, Premium of the plan is normal but the returns are much more than that. The lost items, belongings, valuables are reimbursed.

Rajveer
Adaspur
July 05, 2016

Home Insurance

This insurer provide me fantastic home insurance plan which has lots of benefits. Premium is less and the reimbursement is there for all the valuable staff. Policy coverage is high and claiming is very easy due to fast service and it can be done on online service which is very simple to use.

Yashika
Alibag
June 24, 2016

Fair Insurance Policy

The home insurance plan for my new house is gifted by my father which has many benefits like many belongings are insured by the insurance policy. Service provided by the company members is fantastic which is fast and on time too. The theft, burglary, housebreaking problems is not an issue because the lost is reimbursed. Good work.

Zafrein
Mangalore
June 03, 2016

Perfect Home Insurance

I get home insurance plan from cholamandalam ms general insurance. The benefits are many and it reduces lots of tension of theft, burglary and housebreaking. The company reimburse the loss of the policyholder. The premiums are low and the policy coverage is high ~90%. Claiming is really very easy because the service is fast which is facilitate by the executives and the staff members.

Chirag
Greater_noida
June 03, 2016

Excellent Work

I got really very nice policy, cholamandalam home insurance plan. The premium is low and the policy coverage is high. Home insurance plans covers the loss from burglary, fire and natural calamities. The plans cover for jewellery, valuable art work and other valuables too. Executives facilitate good service. Good work.

Vikram
Gwalior
June 03, 2016

Quality Investment

My home is secure with cholamandalam home insurance plan. The policy is great which have low premiums and the returns are high. The belongings like glass plates, cycle, etc. are insured in the plan. The service you provided is fast and always on time. Good service and behaviour is serve from executives and staff members. I like the policy.

Naveen
Ulhas_nagar
June 03, 2016

Poor Policy

The policy plan i have is cholamandalam home insurance plan. The premium is high but the returns are not. Service is bit slow which is facilitate by the staff members. The internet service is not good. Please improve your insurance policy. Not satisfied.

Manish
Rameswaram
June 03, 2016

Awesome Plan

Recently buy a house, now I purchase home insurance from cholamandalam ms general insurance. My home insuracne is nice and I took it in very low premiums. The policy coverage is high ~88% and the claims are high too. Service provided by you is fast and the behaviour of the staff members is nice. Me and my family members are happy with your services.

Rahul
Jodhpur
June 03, 2016

Fair Policy

My cholamandalam home insurance plan is fantastic. The policy coverage is high ~85% and the claims are even better. Service is fast which is facilitate by the executives and staff member. Daily updates are send to me regularly. Good future investment which secure lots of belongings too.

Yashu
Rampur
June 03, 2016

Normal Plan

I purchase cholamandalam home insurance policy. The policy coverage is good ~90%. The premiums is low and the claims are high. There are many benefits through this policy. Many items and belongings are insured in the plan. Service is fast which is facilitate by the executives and the staff members.

Umakant
Port_blair
June 03, 2016

Not Satisfactory

The cholamandalam home insurance plan is not what I expected. The service is slow and the premium is high. Policy coverage is low and claims take much time to sanctioned. Please improve the policy and yes the internet service is okay. Not satisfactory for me.

Ishant
Jhansi
June 03, 2016

Wonderful

I own cholamandalam home insurance plan. The policy is great with good coverage and the claims are high. The service facilitate by the executives and the staff members is nice. The house insure from many damages and many items and belongings are also secure in the policy plan. Good policy.

Prabhjot
Darjeeling
June 03, 2016

Best Plan

Cholamandalam home insurance plan I purchase and happy with it service. The premium is low and the policy coverage is high ~91%. Service is fast and on time which provided by the executives and staff of the company. Good future investment which reduces my taxes too. House is save from burglary, theft, housebreaking and the loss is reimburse by the company.

Lakshay
Ooty
June 03, 2016

Super Policy

I got cholamandalam home insurance plan. The policy is very good which has low premium. The policy coverage is high ~85% and the claims are good. Service is fast which facilitate by the executives and staff of the company. Good future investment which reduces my taxes.

Kamal
Haridwar
June 03, 2016

Good Service

I purchase cholamandalam home insurance plan. The policy coverage is high ~89% and the policy claims are high too. The claiming procedure is very simple because the executives and staff members facilitate the best services and the behaviour is also nice and calm. Good investment and the terms and conditions is the best.

Jigar
Bikaner
June 03, 2016

Damn Good

My house is secure with cholamandalam home insurance plan. The policy coverage is high and the premium is low. Service is fast which is facilitate by the executives and staff members. Good number of items and belonging included in the policy. Daily updates regarding policy is send to me timely.

Harish
Nagpur
June 03, 2016

Fantastic Plan

I have cholamandalam home insurance plan which is really very good. The policy coverage and claims are high and the premiums is low. Service is fast and on time. Many more things are secure including the house in this policy. Daily updates are mailed to me. Good service, good policy.

Gautam
Kolkata
June 03, 2016

High Coverage

I purchase cholamandalam home insurance plan which is very nice. The service is good which provided by the executives and due to this claiming get easy. Policy coverage is high and premium is low. Claims are good, many belongings are insure in this plan with house. Good investment.

Fabian
Dwarka
June 03, 2016

Okay Policy

Finally got a good home insurance plan from cholamandalam general insurance. Policy coverage is good ~90% and the claims are high. Premium of the plan is low which is good point. The service provided by the staff of the company is really very fast and on time. Nice policy and fair terms and conditions.

Dinesh
Agra
June 03, 2016

Fine

Good home insurance plan provided by cholamandalam general insurance. The premium is low and claims are good. Claims easily sanctioned due to fast service facilitate by executives and staff members. This plan covers the accidental loss or damage caused due to personal baggage which the insured person or his family member carries while travelling anywhere in India.

Sandeep
Babhleshwar
June 03, 2016

Fair Policy

I buy cholamandalam home insurance plan. The policy coverage is good. Simple and hassle free plan enrollment with no documentation required. Complete protection of jewelery and other valuable ornaments against burglary, theft, housebreaking. The premium is low and the claims are high.

Abhishek
Ahmedabad
June 03, 2016

Good

I purchase cholamandalam home insurance plan. The policy provide good service which is fast and on time. Good policy coverage and claims are even better. The updates regarding policy is mailed to me regularly. Good future investment which reduces taxes also.

Bhupesh
Manesar
May 12, 2016

Superb Plan

I purchase cholamandalam home insurance plan. The policy is good with number of benefits.There is an option to protect and safeguard the complete assets along with the home. Low premiums and flexibility to choose the cover as per requirements. Simple documentation and hassle free on-boarding process. Good job.