Cholamandalam General Insurance is a 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. 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.
|Third-party liability cover||Up to 7.5 lacs|
|Incurred Claim ratio||84%|
Table Data updated on 05-11-2020
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, anytime. There are two ways to renew your car insurance policy - via the official website of the company or through PolicyX.com. Both platforms are great as it requires only a few steps to renew the existing car insurance policy and you will immediately get the policy on your email.
Chola MS is one of the leading general insurance companies that stock effective car insurance products to deal with different needs of customers. To serve better, the company offers various customized benefits. A detailed view of other benefits are listed below for your reference:-
When it comes to filing any claim, the process of Chola MS is quite simple and effective. The company carries a decent claim settlement ratio. It works round the clock to offer the much-required assistance.
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 at affordable prices, which proudly include third-party & own damage covers. Apart from this, add-on covers are there at your disposal.
With a dedicated and helpful customer support panel, policyholders will have the assistance of a 24*7 active support to get solutions regarding their queries.
People love the comfort of a cashless facility and this company works tirelessly to provide the same benefit to its customers. With the help of network garages (7100+), 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.
The company is strategically using both channels of communication (offline & online) to reach its customers. It's up to the people whether they want to visit the company's office or buy/renew the policies online.
The company offers a fixed daily allowance of INR 500 or INR 1,000 per day to meet the cost of hiring a car (for a maximum of five days per policy period) if the insured vehicle is in the garage for repairs.
To carry a valid car insurance plan, customers have to pay a fixed amount of premium. The premium is based on several factors which are mentioned below-
Premium = Own Damage Premium - (No claim bonus + discounts) + Liability Premium as fixed by the IRDAI + Cost of Add-ons
|Car Model||Prices||IDV*||Zero Depreciation*||Estimated Premium*|
|Honda City 1.3DX (1342cc)||Rs. 9,91,000||Rs.5,28,579||Rs.1477||Rs. 14,741|
|Audi A7- U2 CRDi Diesel||Rs. 90,05,000||Rs.75,63,330||Rs.34, 035||Rs. 1, 02, 360|
|MARUTI VITARA BREZZA - LXi (1462cc)||Rs.7,80,000||Rs.6,97,303||Rs.3487||Rs.18690|
|Toyota Yaris G (1496cc)||Rs.12,86,000||Rs. 5,32,000||Rs.1747||Rs. 15647|
Table Data updated on 05-11-2020
*The values are calculated on the basis of the city (Bengaluru) and year of registration (2020).
There are two ways through which you can file your Cholamandalam car insurance claim easily. Let's discuss them in detail.
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:-
Tollfree: 1800-208-5544 I 044 4044 5400
Registered Address: New No. 2, Old No. 234, Dare House, II Floor, N. S. C. Bose Road, Parrys Chennai-HO - 600 001, Tamil Nadu, India
Contact Number: 1800-4200-269/1800-4203-180
Email id: firstname.lastname@example.org
Registered Address: PolicyX.Com Insurance Web Aggregator Private Limited, 1st Floor, Landmark Tower, Plot no-2, Southcity-1, Opposite C-113, Ashok Marg, Sector-41, Gurugram - Haryana - 122001 India.
For all new cars, IRDAI has made it compulsory to buy third-party cover for 3 years. Policyholders can choose the OD Section for one or three years. For old cars, annual comprehensive/package policy or standalone liability policy is available for a period of one year. Policyholders have to renew the same every year.
Any tangible damage caused to vehicles due to natural calamities like- flood, tempest, cyclone, earthquake, hurricane etc. are covered under Cholamandalam comprehensive insurance policy.
The company offers several discounts to its customers such as No Claim Bonus, Automobile Association Membership Discount, Discount for Anti-Theft Devices (approved by ARAI) fitted in the vehicle.
Yes, Cholamandalam Car Insurance offers compensation for obtaining a duplicate license (a fixed sum of INR 500) in the case where the original driving license for a light motor vehicle is lost.
Last updated on Aug 2022