Cholamandalam MS Car Insurance

Cholamandalam MS Car Insurance

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Cholamandalam MS General Insurance Company

Cholamandalam MS General Insurance Company Ltd (Chola MS) is an Indian insurance firm and a joint venture between the Murugappa Group, an Indian conglomerate, and the Mitsui Sumitomo Insurance Group (MSIG), a Japanese assurance company. The company's motto is 'T3- Trust, Transparency, and Technology'. Chola MS was named the best insurance company in India for "In time Claims Settlement for the year 2011 - 12" in the Rashtriya Swasthya Bima Yojana (RSBY) scheme run by the Ministry of Labour & Employment, Government of India. Motor Insurance is a mandatory document that you have to carry when you are driving. A vehicle provides you ease to travel around, however, with this comfort, it also comes with several risks that make it necessary to have an insurance. Vehicle insurance provides you the financial back up against the damaged or stolen vehicle. It also provides the third party liability coverage. It is one way to get whole coverage and freedom to drive safely.

Motor insurance is basically a policy that a person should buy to have a cover on the physical assets like car & motorbikes which are meant for personal use and Commercial vehicles also. The benefit of having a motor insurance policy is that you will be ready to face any kind of damage. Moreover, as per the law of Indian Motor Vehicle Act, it is mandatory to have a motor insurance policy. Without a valid motor insurance, it is completely illegal to drive on roads of India.

Benefits of Chola MS Car Insurance

Types of Motor Insurance based upon the vehicle you want to get covered:

Whenever you plan to have a motor insurance policy, then you may first understand your needs of having the same. There are several forms of motor insurance available in India. To get the best one you should first understand your need and then search accordingly. Select a plan that offers wide coverage at affordable rates and you can easily get that through Cholamandalam Ms. Insurance company.

Car Insurance: After home, car is the most valuable item of a person. A single damage can cause more financial pain to you and the repairing charges of the same can be high. So with the help of an effective car insurance policy, you will be able o get the repairing work done easily. Effective motor insurance will provide coverage against damage to your car, its theft and much more. Cholamandalam is offering effective car insurance plans at affordable prices, so you can easily get the desired one.

Commercial Vehicle Insurance: Commercial vehicle which is mainly used for business purpose are also liable for special motor insurance cover. Commercial vehicles such as bus, taxi, and other vehicles that public use to travel require adequate motor insurance. With a commercial vehicle insurance, you may get wider cover and be ready to face different situations easily.

Cholamandalam Car Insurance Plans

Car Insurance

It ensures that your vehicle stays safe and secure against any unfortunate mishap and your expenses are completely covered in the wake of any such incidents. It offers you 24*7 assistance and cashless facility.

Key Features

  • The damage done to a third party is completely covered.

  • 24/7 help and assistance in case of an accident or a sudden breakdown.

  • Easy, smooth and hassle free claim settlement process.

  • A wide network of cashless garages for easy claims

  • Instant Online Policy buying and renewal.

Chola Protect

It is designed in a way that will provide complete protection for your vehicles so that you can steer ahead into a secure future.

Key Features

  • Total financial coverage e.g., Reinstatement value / Nil depreciation

  • Car emergency assistance e.g., Fuel delivery / battery jump start

  • Car breakdown assistance e.g., Flat tyre / on-site repair e.g., fuel delivery / battery top up

  • Post accident assistance e.g., Daily allowance / Towing service

Chola Commercial Vehicle Insurance

It is the type of motor insurance that will provide coverage for commercial vehicles.

Key Features

  • Cashless Claim Networks

  • Cashless claim with the help of 600+ authorized network of garages across India

  • Discounts

  • You will get a discount in OD premium for having agreed to a franchise of Rs. 10,000/- for each claim.

  • There will be an optional cover for a personal accident of up to 2 lakhs for passengers in your car and 24/7 assistance in case of a car breakdown or accident.

  • Accidental Cover /Customer Support

Benefits of Chola MS Car Insurance

Here's a look at the wide range of benefits you stand to gain when you choose Chola MS for your car insurance:

  • Offers package policy that is liable to provide coverage for both Third Party Cover and Own Damage Cover

  • It also offers third-party liability cover that comprises of TP Personal Liability & Property Liability.

  • Provides personal Accident Cover for the owner, driver, and passengers

  • Coverages against damages caused to your car because of an accident, theft, burglary and various other perils.

  • It will also offer optional cover for a personal accident of up to INR 2 lakhs for passengers

  • If you take the help of network garages for the repairs then you will get the cashless facility. There are around 4500+ garages in the list of Chola Ms network garage's list.

  • The seamless and hassle-free claims process

  • Allows you to buy car insurance online through simple and hassle-free procedures

  • Quick and easy online insurance renewal process

What does it Cover?

Chola MS Car Insurance protects your vehicle against:

Third Party Personal Liability- It is an effective third party liability cover with unlimited coverage. The amount awarded by the court as your liability to a third party because of accidental death or injuries caused by your vehicle will be compensated under the vehicle insurance policy.

Third Party Property Damage with a maximum cover ofINR 7,50,000, in case of private cars.

Own Damage Cover protects against the loss due to:

  • Fire, lightning, self-ignition or explosion

  • Strike or riot

  • Burglary, theft or housebreaking

  • Earthquake (shock damage and fire)

  • Terrorist activity

  • Landslide and rockslide

  • Malicious acts

  • Accidental external means

  • Flood, inundation, storm, tempest, typhoon, hurricane, Cyclone and Hailstorm

  • LL to Paid Driver.

  • During transit by rail, road, inland waterway, air or lift

  • Personal Accident Cover with compensation for owner cum driver.

  • Legal liability that occurs out of an accident involving the insured vehicle.

  • PA cover for named & unnamed passengers, including spouse, children, parents, etc

Other Covers available

Discounts such as No Claim Bonus, Automobile Association Membership Discount, Discount for Anti Theft Devices approved by Automobile Research Association of India (ARAI) that are fitted in the vehicle

Add-on Covers for Private Vehicles offers a wide range of additional covers that you can have with you for enhanced protection of your vehicle.

Fixed Daily Allowance- Under the same you will a daily allowance of around INR500 orINR1,000 to meet the cost of hiring a car (for a maximum of 5 days per policy period) if the insured vehicle is under repair.

Reinstatement Value- It is to make sure about the maximum claim benefit - Full Car Investment Security with compensation based on the vehicle invoice value and zero depreciation charges on repaired parts

Waiver of reduction in depreciation for partial losses- Under the same partial losses such replaced vehicle parts, depending on the age of the vehicle will be liable to get the cover.

Cover for personal belongings and clothing- he maximum reimbursement under the same during a policy period isINR10,000

Reimbursement of expenses towards obtaining a duplicate ignition key-n Cover up to a maximum ofINR 1,000.

Compensation for obtaining the duplicate license (fixed sum ofINR 500) in the case where the original driving license for a light motor vehicle is lost

Cover for road tax and registration charges

Chola Assistance for roadside emergencies - Support is available 24x7 for spot assistance, that includes fuel delivery and battery top-up, car breakdown assistance including fixing a flat tire or on-site repair.

Documents You Require To Buy A Car Insurance

  1. Vehicle registration details

  2. Chassis number

  3. Year of manufacture

  4. Fitness certificate only in case of commercial vehicle issued by the local authority While you are comparing insurance policies online you must keep your required documents ready. If you are here for renewal, then you must have the old policy. At the time of renewal, you must be eligible for a different type of discounts such as no-claim bonus and much more.

Exclusion Of Car Insurance Policy

Any loss happening due to an accident that takes place because of

  1. The driver under the influence of drugs or alcohol

  2. When the vehicle is used for illegal purposes or purposes as defined by your policy

  3. When the driver is not using a valid driving license. In India person in the age group, 18 years or above are eligible.

Discounts offered by Cholamandalam MS Car Insurance

Cholamandalam MS General Insurance is providing many attractive discounts that the policyholder can avail.

No-Claim Bonus: No claim bonus or NCB is basically a famous form of car insurance's discounts. For every claimless year, you will get huge discounts that will reduce the premium at the time of renewal. For the first claimless year, you will get a 20% discount on the second year premium and so on. It keeps on increasing. The following table will provide the details.

Other Discounts: Cholamandalam MS General Insurance provides several other discounts

  1. You are a member of any recognized automobile association

  2. Install an anti-theft device in your car

Claim Settlement

  • Inform Cholamandalam MS instantly on their toll-free number 1800-200-5544

  • File a claim with duly signed Claim Form

  • Copy of Driving License, RC book, the Policy document

  • FIR, if required (Kindly note down, contact details of people and vehicle number involved in an accident)

  • Original Repair Estimate Bill

  • In case of cashless service, you have to provide Invoice receipt

  • In case of reimbursement you have to submit estimate bill, original invoice, and payment receipt

Contact Address

Cholamandalam MS, General Insurance Company Ltd,
2nd Floor, "Dare House", No.2, NSC Bose Road, Chennai - 600001, India.
Phone: 044-3044 5400, Fax no: 044-3044 5550
E-MAIL ID :customercare(at)cholams(dot)murugappa(dot)com

Cholamandalam Car Insurance - Faq's

1. Is the cover note enough or do I need to procure the formal document immediately?

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.

2. Who is the best source, an agent or a broker?

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.

3. Is the cashless facility good for me?

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.

4. Is additional personal insurance necessary?

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.

Cholamandalam MS Car Insurance News

CholaMandalam Car Insurance Provides 24*7 Support For its PolicyHolders

Friday October 12, 2018

Cholamandalam a leading Car Insurance service provider assists all the policyholders with round the clock customer support. This Insurance company is a joint venture between the Mitsui Sumitomo Insurance & Murugappa Group. The firm has witnessed a growth, it’s has got premium worth Rs. 4103 in the financial year of 2018. It is a growth of 30.9 % within a year.

The progress Cholamandalam has seen in the motor category along with other segment has been phenomenal. It’s improved to approximate 101 %. CholaMandalam has got 3% share in the industry, out of that 80% is dominated by the motor and few others. It’s round the clock services along with faster claims settlement has assisted Cholamandalam in achieving this milestone.

S. Gopalarathnam, Managing Director, Cholamandlam Car Insurance says. He would like to thank their joint venture partner MSI Japan and their employees for this success. Gopalarathnam also added that they are happy to get the equity of 20.5% for this Insurance venture.

Monday November 30, -0001

Monday November 30, -0001

Customer Reviews

Ayaan, Chandigarh
- Reviewed On 27-04-2018
"Good Responsive Interaction."

Thanks for the fast online support. It was better than other car insurance company so keep it up.

Ashok, Bikaner
- Reviewed On 25-05-2018
"Pleasant Experience"

It's a good Experience and easy to process Mr. Gagandeep Singh he helped me a lot great follow up and nice to see the aggressiveness towards sales.

Arjun, Bhubaneswar
- Reviewed On 23-04-2018
"Good Customer Care Support"

Keep Up the good work.

1

Aggregate Rating for Cholamandalam Investment And Finance Company Ltd. Insurance    [ 3  ]

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