Cholamandalam Car Insurance is a fine example of Trust, Technology and Transparency. It is a successful joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan. 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. It has also been recognized and awarded by the Government of India, international entities, rating agencies and delivery innovations.
Chola MS car insurance believes in catering multiple needs of the customers and in order to achieve that, the company has designed two products which are good enough to tackle different requirements at really affordable prices.
It is the only car insurance policy by Chola MS that offers a comprehensive cover for your car along with the third-party liability. It will provide coverage against theft, damage and much more. All the benefits of this superb car insurance policy comes at an affordable price which makes it an attractive option for the customers.
What does it offer?
This plan is for those people who only want to invest in third-party liability cover. The policy is designed to cover all expenses raised by the court/third-party in case of any accident, involving the policyholder's vehicle. The plan will also deal with the costs and expenses incurred with its written consent.
What does it offer?
Chola MS is one of the leading general insurance companies that stocks effective car insurance products to deal with different needs of customers. To serve better, the company offers various customized benefits such as an optional cover for a personal accident of up to INR 2 lakhs for the passengers, among others. A detailed view of other benefits are listed below for your reference:-
Hassle-free Claim Settlement
When it comes to filing any claim, the process of Chola MS is quite simple and effective. The company carries a good claim settlement ratio. It works round the clock to offer the much-required assistance.
No Claim Bonus or NCB
For every claimless year, you will get huge discounts that will reduce the premium at the time of renewal. For example, in the first claimless year, you will get a 20% discount on the second year's premium and so on.
To deal with various needs of the customers, the company offers comprehensive plans which proudly includes third-party & own damage covers. Apart from this, other add-on covers are there at its disposal.
With a dedicated and helpful customer support panel, policyholders will have the assistance of 24*7 active line to get solutions about their queries.
Renew & Purchase Online
The Chola MS is an excellent platform which makes insurance buying/renewal convenient for the customers. How so? With the help of an online process, customers say bye-bye to unnecessary paperwork and they don't have to introduce themselves to the waiting period.
Cashless Network Garages
People love the taste of a cashless facility and this company works tirelessly to provide the same benefit to its customers. With the help of network garages (6912+), you can avail cashless repair service without facing any hurdle. The company will take care of the repair bills so that you can enjoy a good night's sleep.
|Cashless Network Garages||6912+|
|No Claim Bonus||Up to 50%|
|Third-Party Cover||Up to Rs. 7.5 lacs|
Loss of Key Cover
If you lose your car key, the plan will be liable to pay the cost of its replacement.
24/7 Roadside Assistance
This add-on cover offers the much-needed roadside assistance when you are stuck in a road emergency.
Vehicle Replacement Advantage
With this add-on cover, the insured will be liable to avail replacement cost of the insured vehicle.
Cover for Personal Belongings
In the case where the personal belongings in the car are destroyed because of any unfortunate event, this add-on cover will come out as a savior. A maximum sum of Rs.10,000 will be given to the insured.
Duplicate License Cover
If the insured loses his/her driving license, Rs.500 will be given to the insured on obtaining a duplicate license.
Hydrostatic Lock Plus Cover
In case of any type of damage to the gearbox or associated part of the engine because of ingress of water, the car insurance policy will provide the repair and replacement cover.
It is always better to have a detailed understanding of car insurance before reading the exclusions of Chola MS policy. It will help you understand the reasons for exclusions in a better manner.
To keep your Chola MS car insurance active, on-time renewal is very necessary. Chola MS provides an easy renewal process that allows you to insure your car from any place, at any point of time. This simple process is great as it requires only a few steps and you will get the insurance paper immediately through your email.
Easy and Quick: Chola MS offers a simple and quick renewal process.
Affordable: The best thing about choosing Chola MS is its affordable plans. They are effective and wallet-friendly.
Cashless Facility: The company has 6912+ network garages that offer cashless services to all insured people.
Roadside Assistance: In case of any emergency on the road, the helpful team of Chola MS is there to provide the much-required assistance.
Add-Ons: There is a wide range of add-on covers to choose from.
Cover: Comprehensive cover is there to protect you and the third party liability.
There is no doubt in saying that you have to pay a premium to grab all the benefits of car insurance. All insurers do follow a rule to decide your premium amount. To know how much you have to pay to keep your car insurance active, you must use our car insurance premium calculator.
The simple formula to calculate the same is:-
Premium = Own Damage Premium – (No claim bonus + discounts) + Liability Premium + Cost of Add-ons
Premium Samples of a few companies
|Car Model||Variant||Premium||Reg. Year|
|HONDA JAZZ||1.2 MT Petrol (1198cc)||Rs18052 (with zero dep)||2019|
|MARUTI WAGON R||PETROL (1061-CC)||Rs15271 (with zero dep)||2019|
|HONDA BRIO||1.2 V MANUAL TRANSMISSION Petrol (1198cc)||Rs17209 (with zero dep)||2019|
|HONDA ACCORDHYBRID||2 Petrol (1993cc)||Rs94903 (with zero dep)||2019|
Note:- Company can ask for more documents, if required. Moreover, you only have to provide photocopies of the above-listed documents.
If you are looking to file a claim for cashless settlement in which you don't have to pay anything from your pocket, below is the process that you have to follow:-
If you are looking to file a claim for cashless settlement in which you don't have to pay anything from your pocket then below is the process that you have to follow:-
Chola MS General Insurance company is the leading car insurance company. The company provides great and effective products to deal with different needs of customers and that too at affordable prices. The company carries a good claim settlement ratio and easy process of filing the same. It also allows you to communicate with the support team at any point of hour to clear your queries.
Product's reputation, claim history and other benefits make Chola MS one of the preferred general insurance providers in the market.
Basically, the cover note that is associated with your car insurance policy will be sufficient for the first two months of buying the policy. However, after that specified time period, you would require to have the formal policy document for processing all claims. Well, your policy will be invalid in case of absence of formal policy document.
Simply brokers are far better than the agents. Agents will be partial and will stick to the plan in which they are getting better profits. Brokers receive the same amount from insurance companies, irrespective of all form of insurance policies they deal in. Views are likely to be more objective and they are certainly well placed to suggest the best options for you.
Cashless facility is always a better choice, but you should not overestimate their value. If you have a policy which carries the cashless feature that means that they have established tie-ups with a range of garages and service centers. It would be vital for you to check all their network garages that will be beneficial for you in the future. For example, if most of the stations are far away, such a cashless policy may not prove to be of much use.
Yes, it is! It is very important to opt for insurance for the passengers as well as the driver, in order to be completely assured of total safety. In case of an unfortunate accident or mishap, such an insurance policy could prove to be very useful.
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Last updated on 26-12-2019