Cholamandalam MS Home Insurance

Cholamandalam MS General Insurance Company Ltd. is a joint venture between the 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 doing extremely well in the Indian market through a vast network of 113 branches and 7500 agents.

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Cholamandalam MS Home Insurance

4.4 (120 reviews)
Get insurance for Home loan or Personal security in just 5 minutes.

Cholamandalam MS Home Insurance

4.4 (120 reviews)
Get insurance for Home loan or Personal security in just 5 minutes.
What’s covered?
Violent disturbance
Natural disasters
Policybazaar advantages
365 days support system
Easy claim process
Instant online policy issuance

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*The premium of ₹ 9/month is for a pucca building with sum insured of ₹ 5 lakh at selected locations, for property age less than 40 years and policy term of 1 year. Additional premium is payable for the optional covers including contents opted.

Protect your house from calamities

cover starting just @ ₹9/month*

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**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*The premium of ₹ 9/month is for a pucca building with sum insured of ₹ 5 lakh at selected locations, for property age less than 40 years and policy term of 1 year. Additional premium is payable for the optional covers including contents opted.

Cholamandalam Home Insurance Plans

Having their own house is an 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 a symbol of both financial affluence and emotional safety. However, one can’t deny the fact that the house is prone to many potential threats like burglary, theft, fire, and natural disasters like earthquakes, tornados, and storms.

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

The Chola MS home insurance plans are an 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 cover the assets and valuable owned along with the structure.

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Cholamandalam MS Home Insurance Package Plan

  • A comprehensive home insurance plan that protects your valuable property not just on the whole but also the structure, the home contents, and the family members against unforeseen unfortunate and unforeseen events.
  • 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 the 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 onboarding process.
  • Dedicated customer support for all your questions and issues.
  • Quick and simple claim process.
Home insurance

Chola MS Home Insurance 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.
  • Cost to conduct death ceremonies.

Chola MS Home Insurance Plan Exclusions

  • Loss, destruction, or damage caused by war, invasion, the act of a foreign enemy, hostilities or warlike operations, civil war, mutiny, etc.
  • Loss or damage due to depreciation or wear and tear.
  • Loss of earnings, 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, cycles, or livestock.
  • Damage or 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 in the future.
  • Deterioration, wearing away or wearing out of any item due to normal use or exposure.
  • Damage due to wilful gross negligence or a willful act of the plan holder or his employee(s).
  • Damage is caused by faults that pre-existed the commencement of the current insurance plan and are not known to the plan holder, regardless of whether such defects or faults were known to the company or not. 

Property & Related risks

The policy does not cover:

  • Loss or damage to property not belonging to the insured whether held in trust, commission or otherwise.
  • Loss or damage caused by depreciation or wear and tear.
  • Loss, destruction, or damage caused to the insured property by pollution or contamination excluding 
    • Pollution or contamination which itself results from a peril hereby insured against.
    • Any peril hereby insured against which itself result from pollution or contamination
  • Loss by theft during or after the occurrence of any insured peril except as provided under Riot, Strike, Malicious, and Terrorism Damage cover.
  • Loss or damage to property insured if removed to any building or place other than in which it is herein stated to be insured, except machinery and equipment temporarily removed for repairs, cleaning, renovation or other similar purposes for a period nor exceeding 60days.

Property & Content (Special Exclusions)

The Company shall not be liable in respect of

  • Loss or damage to livestock, motor vehicles, and pedal cycles.
  • Loss of or damage to articles of consumable nature
  • Loss or damage to money, securities for Money and Valuables.
  • Destruction or damage caused to the insured property by
    • Its own fermentation, natural heating or spontaneous combustion.
    • Its undergoing any heating or spontaneous combustion.
    • Burning of property insured by order of any Public Authority.
  • Loss from Aircraft, other aerial and articles dropped therefrom caused by pressure waves.
  • Loss resulting from the unlawful occupation by any person of the insured building or prevention of access to the same.
  • Loss caused by Forest Fire.

Special Exclusions

The company will not be liable in respect of:

  • Loss or damage due to cracking, scratching, breakage of lens or glass whether part of any equipment or otherwise or tochina marble, gramophone records and other articles of a brittle or fragile nature, unless such loss or damage arises from accident to railway train or steamer or aircraft by which such property is conveyed.
  • Loss or damage caused by moth, mildew, vermin or any process of cleaning, dyeing repairing or restoring to which the property is subjected.
  • Loss or damage to any electrical or electronic machine, apparatus, fixtures or fittings (including electrical fans, electric household or domestic appliances, wireless sets, radio, tape recorders, television sets and the like) or to any portion of electrical installation arising from or occasioned by over-running, excessive pressure, short-circuiting, arcing, self-heating or leakage of electricity from whatever cause (lightning included)
  • Loss or damage caused by mechanical derangement or overwinding of watches and clocks.
  • Theft from a car except for a car of fully enclosed saloon type having all the doors, windows and other openings securely locked and properly fastened.
  • Loss or damage whilst being conveyed by any carrier or courier under a contract of affreightment.

Total permanent relocation

  • The cover under this section excludes any action taken by any government or corporation or municipal or local authority or authorities of the like, to set right any illegal action or unauthorized construction or fraudulent occupation of the building or the land on which the building is located. 
  • This cover shall not apply to property that is already the subject matter of acquisition proceedings.

Home utility appliances

The company will not be liable for:

  • Fire and Special perils covered under section 1b)5% of each claim subject to a minimum of Rs. 2500/-.
  • The excess stated in the Schedule to be borne by the Insured in any one occurrence, if more than one item is lost or damaged in one occurrence, the Insured shall not, however, be called upon to bear more than the highest single excess applicable to such items.
  • Loss or damage for which the manufacturer or supplier of the Home Appliance is responsible either by law or under contract.
  • Cost of transport to the repair shop and back to the policyholder’s property of any insured item arising out of any damage to such items.
  • Loss or damage as a direct consequence of the continual influence of operation (e.g. wear and tear, cavitations, erosion, corrosion, incrustation) or of gradual deterioration due to atmospheric conditions.
  • Any costs incurred in connection with the elimination of functional failures unless such failures were caused by an indemnifiable loss of or damage to the insured items.
  • Any costs incurred in connection with the maintenance of the insured items, such exclusion also applying to parts exchanged in the course of such maintenance operations.
  • Loss of or damage to rented or hired equipment for which the owner is responsible either by law or under a lease and/or maintenance agreement.
  • Consequential loss or liability of any kind or description.
  • Loss of or damage to bulbs, valves, tubes, ribbons, fuses, seals, belts, wires, chains, rubber tyres, exchangeable tools, engraved cylinders, objects made of glass, porcelain or ceramics sieves or fabrics, or any operating media).
  • Aesthetic defects, such as scratches on painted, polished or enameled surfaces.
  • The cost of any alterations, improvements or overhauls.

Chola MS Long Term Dwellings

  • Long Term Dwellings for Buildings is a unique insurance cover plan covering apartments or flats that are used for residential purposes.
  • This plan is owned by the policyholder who is located in an independent building or multi-story building which does not come under Kutcha Construction. The building must include the superstructure that includes windows, doors, plumbing, and electrical work.
  • This plan does not include the contents that are inside the building.
  • The normal tenure of this policy is one year and hence it is renewable every year. However, a policy for the long term can be issued for a tenure of not less than three years for insuring the premises used as a residence. 
  • The maximum tenure for this policy is 25 years at one time or until the policyholder reaches the age of 50 years, whichever is earlier.
  • The policyholder has to submit the full premium amount at the starting of the policy and a discount in the premium is offered for such insurance for the long-term.
  • The sum insured from Rs. 15 lakhs to Rs. 1 Crore for the building is offered. A policy seeker can select from various available options.

Chola MS Home Insurance Plan Benefit

This Home Insurance policy for long term dwellings protects against the below-mentioned situations for buildings:

  • Fire, lightning, implosions, explosions, strike, riots, or malicious acts
  • Earthquakes, landslide, and subsidence including the rockslide
  • Flood, inundation, storm, typhoon, tempest, tornado, hurricane, or cyclone
  • Missile testing operations
  • Acts of terrorism (optional) 
Home insurance

General Terms and Conditions of the Chola MS Home insurance Plans

  • Notice shall be given in writing to the Company immediately upon the occurrence of an 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 know 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 benefit any claim for indemnity or otherwise and shall have full discretion in the conduct of any proceedings or 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 to notice by recorded delivery to the insured at the 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 canceled 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 by 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 three months from the date of the death of the insured or until the expiry of this plan (whichever is earlier). During the said period, the 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: -
    • Death Certificate in respect of the insured
    • Proof of title to the house/property
    • Original Plan.
Home insurance

Chola MS Home Insurance - FAQ's

  • How to pay a 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 Chola MS General Insurance’s bank account.

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

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

  • How can I check my policy status for Chola MS 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 accounts first and then can check their policy status. It just takes 5 minutes to register.
  • What is the policy renewal process for Chola MS 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 the premium amount.

    Process for online users

    Step 1: Please log in 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

  • What is the company process to settle the claim for Chola MS 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 are attached and deposited in any of the branches in the city.
  • What is the policy of the cancellation process for Chola MS 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.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 120 Reviews)
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Reviews & Ratings

4.4 / 5 (Based on 120 Reviews)
(Showing Newest 10 reviews)
Bokaro, July 26, 2022
Coverage for natural calamity
I was looking for an insurance policy that provides me coverage for natural calamity. Since my house is located near a river and it floods my area in the rainy season. So i went on the Policybazaar website and particularly look for this coverage found the exact plan that provides this coverage.
Bilaspur, July 26, 2022
Premium Calculation
I was looking for a home insurance policy online. I stumblled upon the Policybazaar website and it is one of the best online platforms to purchase home insurance policy. I learned about the insurance plan i wanted to purchase and after choosing the plan and add ons i could calculate the premium using their online premium calculator. Thanks Policybazaar.
Bikaner, July 26, 2022
Natural Calamity cover
I have recently purchased a flat and wanted to cover it with a home insurance policy. I was aware of the Policybazaar website so i thought i should give it a try. I went on their website and as i wanted to cover my flat with a natural calamity cover specifically i searched for it and without wasting a minute it showed me the natural calamity coverage.
Amritsar, July 26, 2022
Enough coverage
I was looking for a home insurance plan online. I was fed up as i have to visit different websites to look for a single suitable insurance plan. However, i stumbbled upon Policybazaar website where i was able to find the right insurance plan that could provide me enough coverage.
Bareilly, July 26, 2022
Nice customer service
I wanted to purchase a home insurance policy and a friend of mine suggested to purchase it from Policybazaar. I bought the policy and after that i had a confusion regarding exclusions so i called up Policybazaar customer care and they cleared out the confusion and i loved their customer service.
Ajmer, July 26, 2022
Qiuck claim
I purchased a home insurance policy recently. However, due to a natural calamity, my house was damaged as the pressure of the water because of flood broke the enterance door of my house. But the insurance plan that i bought got me covered and i as able to get the quickest claim possible.
Delhi, July 26, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension free now.
Kolkata, July 26, 2022
Wide coverage
The home insurance plan that i purchased from policybazaar's website is a great plan that provides me coverage for not only the structure but also cover several expensive content of the home such as paintings, mobile phones, laptops, television, etc.
Ahmedabad, July 26, 2022
Suitable insurance plan
I purchased the group health insurance policy from Policybazaar website. First of all, i did not have to wander much online while lookig for a home insurance plan that fits my requirement and i found the suitbale home insurance plan by comparing different plans on the website.
Amritsar, June 09, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension-free now.
  • Disclaimers+

    #Savings of 28% are based on the comparison between the highest and lowest premiums for a pucca building with sum insured of ₹ 1 crore at Delhi, for property age less than 5 years and policy term of 11 years.