Chola MS Car Insurance
Chola MS Car Insurance
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Cholamandalam Car Insurance

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.

Types of Cholamandalam Car Insurance Plans

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.

  • Motor Private Car Insurance Policy
  • Liability Only Policy

Motor Private Car Insurance Policy

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?

  • Comprehensive Cover
    This cover is a combination of third-party & own damage covers. For example, in case of private cars, third-party damage with a maximum cover of Rs.7,50,000 will be available.
  • Accidental Cover
    Personal accident cover offers round the clock protection to owner, driver & passengers. It adds a boost to the basic cover.
  • Fixed Daily Allowance
    Here, you will get a daily allowance of Rs.500-Rs.1000 to meet the cost of hiring a car for a maximum period of 5 days in a policy period (only if the insured vehicle is under repair).
  • Roadside Assistance
    24*7 support is available for spot assistance (not limited to fuel delivery, battery top-up, etc) & car breakdown assistance (including fixing a tire/on-site repair).

Key Benefits

  • Own Damage Cover
    The company offers great protection against the loss that occurs due to an accident caused by external means, burglary, landslides, malicious acts, theft, terrorist activity, fire, lightning, strike or riot, self-ignition, explosion and natural calamities like typhoon, earthquake, and cyclone.
  • Third-Party Personal Liability
    The plan offers unlimited cover to third-party. If an accident is caused by your vehicle, the court will order you to pay to the third-party for the damages. That amount (Maximum limit is Rs.7,50,000) will be covered by Chola MS.
  • Other Add-On Covers
    Several other additional covers are available that includes reimbursement of expenses towards obtaining a duplicate ignition key, compensation for duplicate license and several other charges.

Liability Only Policy

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?

  • Liability Cover
    This plan is designed in a way that can offer customised solutions against legal liability caused due to property damage or injury to the third party.
  • Add-On Benefits
    Apart from the basic cover, the plan offers an opportunity to boost the coverage with some additional covers by paying a nominal charge.
  • Personal Accident Cover
    On choosing this plan, the owner/driver will be liable to get the cover against permanent total disability or accidental death in case of any mishap.

Key Benefits

  • Bonus
    With this effective insurance plan, the insured has an opportunity to get additional bonus (such as no claim bonus).
  • Hassle-free Claim Process
    You invest in a policy to get the required assistance and this company understands that very well. It comes out with a convenient and hassle-free claim process which is there to assist you 24*7.
  • Customer Support
    For the ease of customers and to offer full comfort, the company comes out with 24*7 customer assistance service. This feature brings a lot of relief to people when they encounter roadblocks while traveling.

Key Benefits of Chola MS Car Insurance Policy

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

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

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.

Comprehensive cover

Comprehensive Cover

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.

Customer Assistance

Customer Assistance

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

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 Service

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 Garages6912+
No Claim BonusUp to 50%
Third-Party CoverUp to Rs. 7.5 lacs
Roadside Assistance24*7
Claim Ratio84%

Add-on Covers (Chola MS Car Insurance)

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.

What Does Chola MS Policy Say 'No' To?

  • Damages caused because of radioactive/nuclear contamination.
  • Damages caused to a vehicle used to avail commercial benefits.
  • Vehicle damage outside Chola MS geographical coverage.
  • Accidents caused due to drunk driving or a driver stuck in an accident without a valid driver's license.

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.

Chola MS Car Insurance Renewal

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.

Key Features - Chola Car Insurance Renewal

1

Easy and Quick: Chola MS offers a simple and quick renewal process.

2

Affordable: The best thing about choosing Chola MS is its affordable plans. They are effective and wallet-friendly.

3

Cashless Facility: The company has 6912+ network garages that offer cashless services to all insured people.

4

Roadside Assistance: In case of any emergency on the road, the helpful team of Chola MS is there to provide the much-required assistance.

5

Add-Ons: There is a wide range of add-on covers to choose from.

6

Cover: Comprehensive cover is there to protect you and the third party liability.

How to Renew Chola MS Car Insurance Online?

  • Take help of our quote section present at the top of this page.
  • Fill the form with some basic details.
  • Check all quotes thoroughly on bases of features, benefits, exclusion, etc.
  • Make the payment easily using different payment modes.
  • Connect our team of experts, in case of any query.

Cholamandalam Car Insurance Premium Calculation

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 ModelVariant PremiumReg. Year
HONDA JAZZ1.2 MT Petrol (1198cc)Rs18052 (with zero dep)2019
MARUTI WAGON RPETROL (1061-CC)Rs15271 (with zero dep)2019
HONDA BRIO1.2 V MANUAL TRANSMISSION Petrol (1198cc)Rs17209 (with zero dep)2019
HONDA ACCORDHYBRID2 Petrol (1993cc)Rs94903 (with zero dep)2019

Documents Required

Chola MS is one of the leading companies that is very serious about keeping minimal documentation. Along with that, they are well-known for having a strict privacy policy. So, you don't have to worry about your private information being handed over to the public. You do have to submit a few documents which are listed below:-

  • Application form along with a photograph.
  • Driving License.
  • Vehicle's registration.
  • Present Vehicle's insurance papers.
  • Basic KYC documents.

Note:- Company can ask for more documents, if required. Moreover, you only have to provide photocopies of the above-listed documents.

Claim Process

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:-

Cashless Claim

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:-

  1. Inform the insurer about the same asap.
  2. Let surveyor inspect the whole case and your vehicle as well.
  3. Submit all documents to the representative/surveyor.
  4. Once it is approved, the insurer or surveyor will communicate further at a network garage.
  5. The insurer will pay for repairs.
and

Reimbursement

  1. Inform Cholamandalam MS on their toll-free number.
  2. File a claim with duly signed claim form.
  3. Provide the copy of the driving license, RC book & policy document.
  4. Submit the FIR, if required (kindly note down, contact details of people and vehicle number involved in an accident).
  5. You have to submit an estimate bill, original invoice, and payment receipt.
  6. The insurer will analyze the case and respond accordingly.
  7. Once the claim is approved, the respected team will reimburse directly.

Chola MS Car Insurance Review

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.

Chola MS Car Insurance - Faq's

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