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.
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.
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.
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.
It is designed in a way that will provide complete protection for your vehicles so that you can steer ahead into a secure future.
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
It is the type of motor insurance that will provide coverage for commercial vehicles.
Cashless Claim Networks
Cashless claim with the help of 600+ authorized network of garages across India
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
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
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)
Landslide and rockslide
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
Vehicle registration details
Year of manufacture
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.
Any loss happening due to an accident that takes place because of
The driver under the influence of drugs or alcohol
When the vehicle is used for illegal purposes or purposes as defined by your policy
When the driver is not using a valid driving license. In India person in the age group, 18 years or above are eligible.
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
You are a member of any recognized automobile association
Install an anti-theft device in your car
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
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.
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