Cholamandalam MS car insurance compensates you for a variety of financial losses incurred due to accidents, thefts or natural calamities. Based on the policy you choose, it protects you and your car from emergencies, including legal liabilities resulting from physical damages, traffic collision, bodily injuries caused to you, the insured car, or third parties.
Chola serves millions of car owners across the country through its user-friendly features, practical add-ons, over 7,100 cashless network garages, streamlined claim settlement process, 24/7 phone, email and chat support.
Features &Advantages of Chola MS Car Insurance
Cholamandalam Motor Insurance Policies &Variants
1] Third Party Car Insurance
2] Comprehensive Car Insurance
3] Zero Depreciation Cover
Chola Car Insurance Online: Prominent Add-OnCovers
1] Monthly Instalment Cover:On payment of additional premium, the insured gets covered for non-payment of regular Monthly Instalment (MI) to the financier of the car due to an accident involving the insured car.
2] Coverage for Disabled Vehicle:The insured gets the cost of protection, extraction and removal of the disabled car because of loss/damage reimbursed.
3] Coverage of Insurance Cost:If a claim for the insured car is settled as Total Loss (including theft) or Constructive Total Loss (CTL), then the total annual insurance premium for any other car purchased in insured's name after the date of the Total Loss/Constructive Total Loss of the insured car is borne by the insurance company. Applicable only when the vehicle is insured with Chola, and the class of car is the same.
4] Consumables Cover & Consumables Plus Cover:The insurance company reimburses the cost of consumable items actually consumed and utilised for repairing the accidental damages/losses.
5] Registration Certificate Lost Cover:Pays a fixed amount of 2,000 rupees for obtaining duplicate registration certificate of the insured car (if the original certificate is lost by the insured due to any reason).
6] Franchise Benefit:A discount on own-damage premium as mentioned in the schedule for agreeing to a franchise of 5,000 rupees for every net assessed own damage claim up to this amount.
7] Waiver of Depreciation:The insurance company indemnifies the insured against loss/damage to the parts subject to a deduction of depreciation in respect of parts replaced.
8] Reinstatement Value Basis for fixing IDV:Your car and the declared accessories are insured on ''REINSTATEMENT VALUE BASIS'' which is the original invoice value (excluding the registration charges, road tax).
9] Coverage for Road Tax/Registration Charges In Case of Total Loss of the Vehicle:You become eligible for reimbursement of the amount paid towards road tax/registration charges of the insured car in the event of a total loss of any nature.
10] Reimbursement of Cost of Duplicate Key:You become eligible for reimbursement of the cost of obtaining duplicate ignition key of the insured car if the original gets lost.
11] Daily Cash Allowance:Pays a fixed allowance of 500 or 1,000 rupees/per day as per the option exercised by insured, during the period of nonavailability of insured car due to partial loss claim(s).
12] Auto Extension of Policy:The existing policy gets extended for 30 days from the expiry date on renewal terms.
13] Personal Belongings [inside your car]:The insurance company reimburses the market value of clothes/personal belongings for the loss/damage caused by fire, burglary or accidental external means while they were inside your insured car or locked inside the boot.
14] License Loss Cover:Pays a fixed amount of 500 rupees for obtaining a duplicate license if the original one gets lost.
15] Discount for Repairs In Preferred Workshops:If the insured agrees to repair the damaged car in any of Chola's preferred workshops (list available with the company), he/she can get a discount of 5%.
16] Wrong Fuelling:Insured gets the cost incurred for flushing out the wrong type of fuel filled at fuel filling station (including replacement of parts subject to depreciation) reimbursed.
17] Hydrostatic Lock Cover & Hydrostatic Lock Plus Cover:Insured receives reimbursement of costs incurred on repair/replacement of the engine, gearbox, transmission or differential assembly/parts damaged due to ingress of water/due to leakage of lubricating oil/coolant or due to any accidental means.
18] Key Replacement Cover:Insured receives reimbursement of the actual cost incurred towards repairing/replacing the keys and/or locks and/or total replacement of lock mechanism due to theft/burglary/damage to keys or key mechanism of the insured car.
Chola Car Insurance: Value Added Services
The following services can be offered in exchange for an additional premium:
Exclusions of Chola Car Insurance
Chola MS Motor Insurance: Discounts
Cholamandalam Car Insurance Premium
The premium for your car insurance policy is based on factors such as IDV, the make/model, year of purchase, registration and the city.
One can compare policies and plans by visitingChola Insurance’s official website. Alternatively, you may use established online insurance comparison portals likewww.Quickinsure.comto explore quotations, simplify and speed up the process of buying car insurance.
Cholamandalam Car Insurance Renewal&Application
One can apply for/renew a car insurance policy by viewing and comparing quotes online through insurance comparison platforms: www.Quickinsure.com.
Cholamandalam Car Insurance Review
Cholamandalam car insurance from Cholamandalam MS General Insurance Company Ltd is a leading player in the private car insurance segment in India. It carries a well-deserved reputation for being a pragmatic insurance provider with customised policies and smart add-ons suitable for all kinds of customers.
Cholamandalam Four Wheeler Insurance: FAQs
Q: Can I renew my other car's insurance with Chola?
Yes, you can!
Q: Is it necessary to go for OD/comprehensive cover?
You may choose out of a third party cover and a comprehensive cover. As per law, in India, it is compulsory to have at least a third party policy that covers you against legal liabilities for injuries/death/property damages caused to third parties during accidents. It does not cover damages/losses to your car in an accident/theft. However, a comprehensive policy while covering third party liabilities also covers own-damages. Therefore, it is advisable to opt for a comprehensive cover.
Q: What is IDV?
Insured Declared Value, the maximum amount up to which the insured individual can claim in any given period of the insurance policy.
Q: What is "Policy Excess" or "Deductible"?
It is a specific amount of every loss that the insured is required to bear for each claim. In the case of private cars not exceeding 1,500 CC, the amount is 1,000 rupees/claim. For cars exceeding 1,500 CC, it comes out to be 2,000 rupees/claim.
Q: What is Cholamandalam’s claim settlement process?
The five steps process:
Disclaimer: The information shared is purely indicative. Please refer to the policy wordings for most up-to-date and precise details.