Chola MS Car Insurance Policy covers the accidental loss /damage caused to your Vehicle due to any risks or uncertainties caused due to the accident. Cholamandalam Car Insurance also provides Life Cover to the Insured Driver. Chola MS General Insurance Company also provides a hassle free Claim Settlement to its Customers. So buy a Chola Protect 360 offered by Chola MS Company and Protect from the Unfortunate Accidents. Check Chola MS Car Insurance Features, Benefits, Coverages & Exclusions from below sections of the article.
Chola MS Car Insurance Policy Review
To Travel on the road, Motor Insurance is necessary for every Vehicle. Because of Increasing Accident Cases Vehicle Insurance has become necessary for every vehicle. Suppose suddenly our New Private Car met with an accident there will be a huge loss for you financially. Sometimes the death of the driver or owner may occur, and sometimes total vehicle damage also occurs. So having Motor Insurance makes your mind peaceful, and you can travel without any tensions. To Cover, all the Loss/ Damage Caused to the your Car Chola MS Insurance Company has Introduced Motor Insurance Plans.
Chola MS Car Insurance covers any loss caused to the Private cars. The Owners of any Private Car are eligible to take this Cholamandalam Car Insurance Plan. This Policy covers accident loss or damage occurring during the period of insurance only provided that some Terms and Conditions. Buy a New Chola Protect Car Insurance Policy and get over all the Worries.
Cholamandalam Car Insurance Features & Benefits
- The Chola MS General Insurance Company offers 24X7 assistance in case of sudden breakdown or accident of a Vehicle.
- For easy claim process, a broad network of cashless garages is available.
- Third Party Liability Cover that includes TP Property Liability & Personal Liability.
- Easy and Quick online insurance renewal process.
- Optional cover for the personal accident of up to 2 lakhs for passengers in your car.
- The complete comprehensive cover that offers both Own Damage Cover and Third Party Cover.
- Hassle Free, smooth and easy claim settlement process.
- Personal Accident Cover for the owner, driver and passengers.
- Instant Online Policy buying and renewal.
- Protection for your vehicle against loss or damage due to accidental external means, burglary, theft, and various other perils.
Coverages of Chola MS Car Insurance
The Insured can avail two types coverages under Chola Protect Car Insurance they are
- Package Policy.
- Liability Only Policy.
Coverages under Cholamandalam Car Insurance Policy
Chola MS Car Insurance Policy Protects the Insured against loss or damage to the insured vehicle caused due to
- Theft, Burglary or housebreaking.
- Fire, self-ignition, lightning or explosion.
- Malicious acts.
- Storm, Hurricane, Hailstorm, Flood, inundation, tempest, typhoon, Cyclone.
- Landslide and Rockslide.
- Terrorist Activity.
- During transit by road, rail, inland waterway, air or lift.
- Strike or riot.
- Legal liability towards employees arising out of an accident involving the insured vehicle.
- Accidental external means.
- Earthquake (shock damage and fire).
- PA cover for named & unnamed passengers, including spouse, children, parents, etc.
- Legal Liability to Paid Driver.
- Personal Accident Cover with compensation for owner cum driver.
Coverages under Liability Only Policy
Third Party Property Damage: The Chola MS Car Insurance provides a maximum cover of Rs 7,50,000/- in the case of injury to the Third Party private cars.
Third Party Personal Liability:
- It provides Legal Liability to the Death/disability to third-party liability.
- Claimants cost as decided by the court.
- The insured legal liability for death or bodily injury of third-party.
- Provides all costs and expenses incurred with the company’s written consent.
Chola Protect Car Insurance Exclusions
Chola MS General Insurance Company does not cover any loss or damage caused due to
- Loss caused due to Driving the Vehicle under the Influence of Alcohol or Drugs.
- Accidental loss or damage due to willful negligence.
- Loss due to war and related activities.
- Depreciation, Wear and Tear Problems.
- Mechanical or Electrical breakdown.
- Consequential Loss.
- Loss caused due to Failures or breakages.
- Loss Caused due to driving the Vehicle without a Proper License.
- It does not cover the damage caused due to nuclear activities.
Along with these Exclusions, Chola MS deducts its Coverage at some rate on different Parts of the Vehicle. The Rate of Depreciation offered by Cholamandalam MS is mentioned below.
Depreciation Rates in Chola MS Car Insurance
- All nylon/ rubber / plastic parts, tubes, tyre batteries and air bags – 50%.
- Fibreglass components – 30%.
- All parts made of glass – NIL.
Rate of depreciation for all other parts including wooden parts will be as per the below table
|Age of Vehicle||% of Depreciation|
|Not exceeding 6 months||NIL|
|Between 6 months and 1 year||5%|
|Between 1 and 2 years||10%|
|Between 2 years and 3 years||15%|
|Between 3 and 4 years||25%|
|Between 4 years and 5 years||35%|
|Between 5 years and 10 years||40%|
|More than 10 years||50%|
Addon Covers of Chola MS Car Insurance
Chola MS General Insurance Company is offering several Additional Coverages for Car Insurance. The following are the Additional Coverages provided by Cholamandalam Car Insurance.
- The Company offers a waiver of reduction in depreciation for partial losses, such as replaced vehicle parts, depending on the age of the car.
- The Policy provides cover for registration charges and road tax.
- Discounts: The Insured is provided with discounts on Automobile Association Membership Discount, No Claim Bonus, Discount for Anti-Theft Devices approved by ARAI (Automobile Research Association of India) that are fitted to the vehicle.
- To ensure maximum claim benefit, Reinstatement Value is provided by the Chola MS Car Insurance.
- Private Vehicles Add-on Covers: The Cholamandalam MS Car Insurance provides enhanced protection to your vehicle with a broad range of additional covers.
- The Insured obtains a fixed sum of Rs 500 as a compensation to get the duplicate license if the original driving license for a light motor vehicle is lost.
- Chola MS General Insurance Company Assistance for roadside emergencies – The Cholamandalam MS provides support 24×7 for spot assistance, which includes battery top-up and fuel delivery, as well as car breakdown assistance including fixing a flat tyre or on-site repair. The Toll Free Numbers are 1800-103-5354 /1800-209-5354.
- Fixed Daily Allowance of Rs 500/- or Rs 1,000 per day to meet the cost of hiring a car for 5 days per policy period if the your vehicle was involved in an accident and is under repair in a garage.
- The expenses of a maximum Rs 1000/- are provided for loss of original ignition key for obtaining a duplicate ignition key.
- Cover for personal belongings and clothing: The reimbursement of maximum Rs 10,000 is provided during the policy period if the clothes damaged or destroyed in a fire or an accident (the items must have been inside the locked car during the mishap).
Personal Accident Cover for Owner / Driver
Along with the above Chola MS Additional Coverages, you can also get Personal Accident Cover under this Chola Protect Insurance Policy. Under this cover, the Owner or Driver of the Vehicle will be Insured. The Cholamandalam MS Company will pay the Compensation for bodily injury or death of the driver / owner of the vehicle.
The Personal Accident Coverage, the rate of Compensation is given in below available table
|Nature of Injury||Compensation Scale|
|one limb and sight of one eye or Loss of two limbs or sight of two eyes||100%|
|Loss of one limb or sight of one eye||50%|
|Permanent total disablement from injuries other than named above||100%|
How to buy Chola MS Car Insurance Policy?
Chola MS Motor Insurance can be obtained through online at the official website www.cholainsurance.com by entering the Insured Vehicle Information. You can also buy the Chola MS Car Insurance from the nearest Cholamandalam Branch Office or, from the Agent of Chola MS General Insurance Company. The documents required for buying the Chola Protect 360 Insurance Policy are
- Proposal form/Application form along with the photo.
- Age Proof.
- Address Proof.
- Vehicle Details.
- Driving License.
Cholamandalam Car Insurance Claim Process
The Insured need to follow the below steps for Prompt Claim Service in case of Unfortunate Accident occurs to your Vehicle
- On Immediate occurrence of Accident Contact the Chola MS Policy Issuing Office which is nearer to you. You can check the official site for List of Cholamandalam Offices across India.
- In Case of Major accidents due to riot/fire, losses keep the vehicle at the accident site/ spot until the spot surveyor Inspection Completes.
- If any Third Party Death/Injuries takes place to make sure to inform in the nearest Police Station about the accident.
- On Completion of Formalities, you may move your Vehicle to authorised Garage of your Choice and obtain the estimate from them.
- Submit the Estimates to the Chola MS company along with the duly filled claim form; then they will arrange for the final survey.
- Final Surveyor will come and verifies the Damage and gives the approval to proceed with the repairs.
- Now Proceed with Repairs and Submit all Bills to the Cholamandalam General Insurance Company after Completion of Repair.
Documents Required for Claim Process are
- Duly filled claim form.
- Medical certificate(in the case of third-party liability).
- Original estimate.
- Surveyor copy.
- Original FIR.
- Driving license.
Chola MS Car Insurance Renewal Process
You can Renew the Chola Protect Car Insurance through online at the official website by following the below simple steps. The Insured can also renew your Chola MS Car Insurance policy by visiting the Cholamandalam MS Branch Office. But Online Renewal Process is the Flexible and easy process. You can renew your policy 30 Days before the Expiry Date only.
- Visit the official website www.cholainsurance.com
- On Top of the Home Page you can find Car Insurance – Renew Option.
- Click on Renew.
- Then you will redirect to Online Renewal Page.
- Enter the Policy number and click on the Next option.
- Now you can see the Premium Amount you need to Pay to renew your Policy.
- Check the Premium and Pay through online using Debit Card/Credit Card/Net Banking.
Please Note that the Renew facility is not applicable for
- A policy with the claim.
- Vehicle is older than 5 years.
Chola MS Car Insurance Premium Calculator
The Insured can calculate the Minimum Premium that has to be Paid to take the Motor Insurance Policy By Using the Chola MS Car Insurance Premium Calculator. The Amount of Premium Paid will Depends on the Vehicles Age, and any Extra Coverages. You need to enter the below Information to buy Cholamandalam Car Insurance.
- Registration state of the vehicle.
- Class of vehicles.
- Type of vehicle.
- Registration location,
- Body type, etc.
FAQs on Chola MS Car Insurance?
- What is Sum Insured Declared Value?
Ans: The IDV (Sum Insured Declared Value) of the vehicle is fixed based on manufacturer’s listed selling price of the model and brand and of the vehicle. It is calculated as manufacturers selling price minus depreciation.
Discount for fixing the Insured declared value (IDV) of the vehicle in Chola MS Car Insurance
|Age of the Vehicle||% of depreciation for fixing IDV|
|Not exceeding 6 months||5%|
|Between 6 months and 1 year||15%|
|Between 1 year and 2 years||20%|
|Between 2 years and 3 years||30%|
|Between 3 years and 4 years||40%|
|Between 4 years and 5 years||50%|
For More Details regarding the Chola MS Motor Insurance, please refer Cholamandalam MS Car Insurance broucher