Cholamandalam General Insurance is a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan. The company extends a large variety of insurance schemes for its urban and rural customer base. The assortment of insurance products offered by the company to its corporate and individual customers includes health, engineering, accident, motor, marine, liability, travel, and rural insurance. The cost of Cholamandalam MS car insurance varies depending on the type of policy that you choose to buy.
Taking trust as a thread between the company and its customers, it comes out with a wide range of effective insurance plans including motor, health, property, accident, engineering, liability, marine, travel, and crop for individuals and corporates. Cholamandalam has also been recognized and awarded by the Government of India, international entities, rating agencies, and delivery innovations. To assist your needs, the company offers comprehensive, third-party and zero depreciation car insurance plans.
Benefits and Features of Cholamandalam MS Car Insurance policy:
- You can renew an existing policy from any insurance provider and bring it to Cholamandalam MS General Insurance for better services. This includes your current no-claim bonus.
- Add Optional add-ons covers and customize your policy. Select from a list of smart rider options, available for an additional premium.
- Decision on claims approval within 7 working days from the receipt of all documents.
- Guaranteed 24*7 customer support for any queries related to the policy and intimation of a claim call: 1800-123-4003.
- Avail wide network of cashless garages service.
- No Claim Bonus is up to 50% discount
- Specific car insurance products are designed to cater to the different needs of policyholders.
- Cashless claim settlement in over 1,100+ cashless garages
- Any loss or damage resulting due to an accident or collision with another vehicle, animal, or thing like a building or pillar
- Any loss or damage that has occurred due to bad weather conditions or natural calamities is also covered
- Any loss or damage due to external explosion or fire is also covered.
- Third-party damage cover for third party property/vehicle, cover for injury caused in an accident.
- Damage to the vehicle due to natural calamities like storms, floods, etc., or any burglary, theft, or act of terrorism.
Exclusions:
- Accidental damages while driving under the influence of alcohol or intoxicating drugs.
- Accidental damages during war or similar conditions
- Any claims against an incident when your insurance policy was not active.
- Cost of repair/replacement of parts that are damaged due to regular wear and tear and not related to any incident like accident, theft, fire, flood, etc.
- Any claims against an incident where you were driving without a valid driving license.
- Any claims related to personal items stolen from your car.
Types of Cholamandalam MS Car Insurance:
Cholamandalam MS offers the following types of motor insurance policies:
Private car insurance:
This insurance plan offers protection to cars that are bought by individual customers for private use. The coverage under the plan protects the insured car from a comprehensive set of events, such as natural disasters, theft, man-made calamities, and third-party liability. The Chola MS comprehensive car insurance plan offers extensive protection to the insured vehicle. The inclusions under the coverage are:
- Third-party personal liability with no limits on coverage - Under this part of the coverage, the insurer will pay for the liability claims raised by a third party following an accident. Third-party injuries and death are offered coverage.
- Third-party property damage - The insurer pays for property damage liability claims raised by a third-party after an accident. The upper limit on coverage is Rs.7.5 lakh for private cars.
- Own-damage cover - This insurance protects from the following losses:
- Lightning, fire, explosion, or self-ignition
- Theft of the insured vehicle
- Strikes
- Earthquakes
- Tempest, flood, hurricane, cyclone, etc.
- External accidents
- Terrorist acts
- Malicious activity
- In-transit damages
- Rockslides and landslides
The coverage also includes the following:
- Personal Accident Cover for the owner-driver
- Legal liability towards employees after an accident
- Personal accident cover for unnamed and named passengers
- Legal liability to a paid driver
Cholamandalam MS Car Insurance Add-ons/Riders:
You can enhance your Cholamandalam MS car insurance cover with extra coverage in the form of add-ons or riders on payment of extra premium at the time of policy purchase. The list of add-ons offered by the Cholamandalam MS car insurance policy is mentioned below:
Hydro Static: This adds on cover will be applicable when there is ingress of water into the vehicle or leakage of lubrication which prevents engine from starting. It compensates for repair or replacement parts of engine or gear box, etc.
NCB Protection: NCB is the No claim bonus which is offered to auto insurance customers at the time of renewal if there is no claim during the previous policy period. The no-claim bonus is a form of discount offered to the customers for not claiming in the previous policy period.
Return to Invoice Value Protection: Return to Invoice is an add-on option that covers the gap between the insured declared value and the invoice value of your bike along with the registration and other applicable taxes.
Engine Protection: Engine protector provides financial protection to the insured against any repair or loss of the car’s engine due to leakage of lubricant oil or damage to the engine box due to water ingression. If you stay in a low-lying area that has a huge probability of floods during the monsoon season and driving in water-clogged areas also results in malfunction of the engine. Without this add-on, standalone damage to the engine is not covered under your comprehensive car insurance policy.
Key & Lock Protection: Loss or damage to the keys or lock of your car arising out of an insured event, you will be compensated for the cost incurred in fitting or purchasing new lock or keys or replacement of keys of your insured car. Generally, in case of theft or robbery attempt of your car, burglars use duplicate keys to make unauthorized entry into your vehicle which would damage the lockset of your car door. This lockset needs replacement which is covered under the Keys & Locks replacement add-on of Cholamandalam MS car insurance. The cost of purchase or replacement of your car keys would be covered under the Keys &Locks replacement add-on on payment of additional premium at the time of policy purchase.
Consumables Protection: There are certain parts in your four wheeler car such as Engine oil, Gearbox oil, Power steering oil, Coolant, AC oil, Brake oil, Air filter, etc., which are known as Consumable parts. These parts cannot be repaired in case of damage and had to be replaced at the time of claim. The cost of replacement of these parts, in case of an accident, is generally not covered under your comprehensive four wheeler car insurance policy.
Roadside Assistance: We all need a bit of help sometimes! Whenever you face a breakdown of your car on the road, due to an accident, flat tires, malfunctioning battery, or more, with our breakdown assistance add-on, you will have the benefit of getting assistance 24x7.
Personal Belongings: Under this add-on the insured is indemnified for the loss or damage caused to his/her baggage kept in the insured car due to an insured peril. Personal baggage generally includes clothing, toiletries, perfumes, bags, and suitcases, or other daily essentials. Baggage insurance compensates for the loss of baggage due to theft or burglary or due to an accident. However, certain items such as Gold, silver items and other precious metals are not covered in addition to the luxury items such as Laptops, Mobiles, etc.
Depreciation Protection: Depreciation is taken into consideration at the time of claim settlement by the insurance company. As a normal rule, each year 10% or more of the car value would be depreciated depending on the parts which are damaged due to an accident. The depreciation cost is the amount that is deducted from your claim amount due to normal wear and tear caused to your car over some time. This depreciation cost would be given to the customer at the time of claim settlement if the depreciation shield is added to the policy at the time of purchase.
How to Renew Cholamandalam MS Car Insurance?
It is important to renew the Cholamandalam MS car insurance policy before its expiry to continue to enjoy the policy cover for your vehicle. Renewing your car insurance policy with Cholamandalam MS General Insurance is a very easy and quick process. Cholamandalam MS General Insurance offers a zero documentation renewal process which allows you to get your policy renewed instantly.
- Visit the official website of the Cholamandalam MS General Insurance Company.
- Click on the tab 'Car' present at the left corner.
- Click on the tab 'Renew'.
- Provide Policy number/registration number and click on the tab 'Proceed'.
- Analyse the policy details and make the payment using digital payment modes.
- The company will share the policy documents with you on the registered email address.
Buy/Renew Cholamandalam MS Car Insurance Policy with PolicyBachat:
At PolicyBachat.com renew Cholamandalam MS's car insurance policy online is easy and quickly sitting at home. Follow the below-mentioned steps to renew your policy within 5 minutes.
- Go to 'Car Insurance Online' to compare quotes above this article. Fill in the registration number of your car and required details and tap on 'Start Save Money.
- On the quotes section, choose an insurer for a new car insurance policy, or for renewing select the one to suit your needs, go with the current provider or switch to the new one to get more benefits and coverage.
- Make the payment and you will receive the confirmation at your email address. If need assistance call: 1800-123-4003.
How to Claim Chola MS Car Insurance?
- Call us at 1800-208-5544 or file your claims online. Now we provide better alternative of intimating claims.
- The Surveyor will visit the accident spot or garage and inspect the damages in intimation process. Through LVS, we conduct real time assessment of damages sustained by your vehicle, thereby saving time.
- The documents related to insurance policy will be verified.
- Let the claim process be underway. You may track your request by contacting our Customer Support at the click of your mouse. The claim settled by the insurance company.
What are the Discounts of Cholamandalam Car Insurance Policy?
The CholaMandalam Insurance Company offers several discounts to its customers such as
- No Claim Bonus (NCB),
- Automobile membership discount,
- Anti-theft devices in the vehicle.
What type of car insurance policies are offered by Cholamandalam?
Cholamandalam offers both the third party liability only as well as comprehensive car insurance policy. In addition to that, it also provides a range of add-on covers for enhanced protection of your car.