CHOLAMANDALAM MS CAR INSURANCE

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

Comprehensive coverage, including third-party and own-damage covers.
Third-party liability cover also comprises of third-party personal liability (unlimited coverage) and property liability (maximum 7 lakh 50,000 rupees).
The own-damage cover protects you against losses due to fire, lightning, self-ignition/explosion, burglary, theft or housebreaking, strike/riot, earthquake, flood, inundation, storm, tempest, typhoon, hurricane, cyclone/hailstorm, accidental external means, malicious acts, terrorist activity, during transit by rail/road/inland waterway/air/lift, landslide and rockslide.
Compulsory personal accident cover (CPA) for the registered car owner (15 lakh rupees to the policyholder or family members in case of accidental disability/death of the insured).
Personal accident cover with compensation for owner cum driver.
LL to the paid driver.
PA cover for named/unnamed passengers (their spouse, children, parents).
Optional cover for personal accident-up to 2 lakh rupees for passengers in your car.
Legal liabilities towards employees arising out of an accident involving the insured car are also covered.
Additional covers for enhanced protection of your car: Fixed Daily Allowance, Reinstatement Value, Waiver of Reduction in Depreciation for Partial Losses, Cover for Personal Belongings/Clothing, Reimbursement of Expenses towards obtaining a duplicate ignition key, Compensation for obtaining a duplicate license, Cover for Road tax and Registration charges and Chola Assistance for Roadside Emergencies.
Valued added services.
24/7 help in case of an accident/sudden breakdown.
Hassle-free claims process and cashless facilities at preferred garages.
Discount on own-damage premium for claim-free policy years (NCB).
Quick and convenient online insurance renewal.

Cholamandalam Motor Insurance Policies & Variants

1] Third Party Car Insurance

Mandatory for cars plying on Indian roads.
The policy protects you from legal liabilities to third parties in case of car accidents where there are significant chances of injuries/damages.
Pays compensation to the third party for injuries/death/property damages caused by accident.
Shields you from financial liabilities towards third parties.

2] Comprehensive Car Insurance

An extensive policy that includes third-party insurance and brings end-to-end coverage.
Provides overall cover for damages to both parties involved in an accident.
Covers damages/theft of the car, legal liabilities towards third-parties and personal accident cover.
Takes care of personal injuries in an accident, damage to your car due to fire/explosion, damage to car/property of a third party and injury to a third party during an accident.
Option to customise your IDV.
Doorstep pickup and repair facility.
Coverage can be extended by opting for add-ons like Monthly Instalment Cover, Coverage for Disabled Vehicle, Waiver of Depreciation and Personal Belongings (inside the vehicle).
Discount on purchases from pharmacies and for services in leading diagnostic centres.
No restrictions on claims.
Competitive premiums.

3] Zero Depreciation Cover

It is also known as Nil Depreciation Cover or Bumper to Bumper Cover.
Offers complete cover without factoring in the depreciation.
Compensation for the financial burden of damages/losses incurred due to accidents.
If your car gets damaged in a collision, you receive the entire cost from the insurer.
100% coverage for all rubber/fibre/metal parts without deduction of depreciation.
Covers theft of your car, damage to your car due to natural calamities (earthquake, landslide, floods), human-made disasters (riots, terrorism, vandalism), accidents and fire/explosion.
Only available to cars aged five years or less.
Suitable for individuals who have purchased new cars, who are inexperienced drivers and who own high-end, luxury cars with expensive spare parts.

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:

Assistance on the phone.
On-site minor repair.
Battery jump-start.
Flat tyre replacement.
Transfer of covered car for a non-accidental breakdown.
Towing for an accidental breakdown.
Transfer cost reimbursement (services provided out of the facilitators' service provider network).
Medical, legal co-ordination.
Information on authorised workshops.
Provision of a local taxi.
Repatriation of the repaired/recovered vehicle.
Removal of vehicle.
Provision of the replacement vehicle.
Provision of Hotel accommodation/travel forward or back to the residence.

Exclusions of Chola Car Insurance

Accidental damages/losses due to wilful negligence and if you are driving under the influence of intoxicating liquor/drugs.
Loss/liability while the car is being used outside the scope of limitations of use and/or driven by an individual without a valid license.
Consequential losses, depreciation, wear-tear, mechanical/electrical breakdown or failure of breakages.
Losses due to nuclear weapons/radioactivity.
Losses due to war/related activities.

Chola MS Motor Insurance: Discounts

Discount on purchases from select pharmacies and for services in leading diagnostic centres. It can be availed by the insured and the dependent family members.
Automobile Association membership discount.
Discount for anti-theft devices approved by the Automobile Research Association of India (ARAI) that are fitted in the car.
No Claim Bonus (NCB): Varies from 20% to 50% depending on the consecutive number of claim-free years and can be earned only in the own-damage section. It is allowed only when the car has been insured continuously for twelve months and when the policy is renewed within 89 days of the expiry of the previous one.

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:

Toll-free helpline: 1800-208-5544 can be used for registering your claim and receiving a claim reference number. It can also be directly registered online.
A surveyor visits the spot/garage.
All your relevant documents are verified.
Claim processing begins.
If approved, it gets settled.