Cholamandalam MS General Insurance Company Ltd

CHOLA MS comprehensive car insurance policy 

provides you with all the above benefits along with a complete peace of mind and sense of security. Not only does it cover your vehicle from accidents and losses but also from the damage done through natural calamities like earthquake, cyclones and floods. Our easy to buy online vehicle insurance policy ensures that your vehicle is in safe hands and your losses are covered in the most optimum manner.

Benefits

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

  • Complete comprehensive cover that offers both Third Party Cover and Own Damage Cover
  • Third Party Liability Cover that includes TP Personal Liability & Property Liability
  • Personal Accident Cover for the owner, driver and passengers
  • Protection for your vehicle against damage or loss due to accidental external means, theft, burglary and various other perils
  • Discount on Own Damage (OD) premium for claim free policy years – No Claim Bonus
  • Optional cover for personal accident of up toINR 2 lakhs for passengers in your car
  • Cashless claims facility available at more than 3750 Chola MS preferred garages
  • Seamless and hassle-free claims process
  • Facility tobuy online car insurance through simple and hassle-free procedures
  • Quick and easy online insurance renewal process

What does it Cover

Chola MS Motor Insurance protects your vehicle against:

  • Third Party Personal Liabilitywith unlimited coverage. The amount awarded by the court as your liability to a third party due to accidental death or injuries caused by your vehicle will be compensated for under the vehicle insurance policy.
  • Third Party Property Damagewith a maximum cover ofINR 7,50,000, in case of private cars.
  • Own Damage Coverprotects against the loss due to:
    • Fire, lightning, self-ignition or explosion
    • Burglary, theft or housebreaking
    • Strike or riot
    • Earthquake (shock damage and fire)
    • Flood, inundation, storm, tempest, typhoon, hurricane, Cyclone and Hailstorm
    • Accidental external means
    • Malicious acts
    • Terrorist activity
    • During transit by rail, road, inland waterway, air or lift
    • Landslide and rockslide
    • Personal Accident Coverwith compensation for owner cum driver.
    • LL to Paid Driver.
    • PA cover for named& unnamed passengers, including spouse, children, parents, etc
    • Legal liability towards employees arising out of an accident involving the insured vehicle.

Sum Insured

The Insured’s Declared Value (IDV) of the vehicle will be deemed to be the ‘Sum Insured,’ fixed at the commencement of each policy period for the insured vehicle. The IDV of the vehicle is fixed on the basis of the manufacturer’s listed selling price for the specific brand and model of the insured vehicle at the time of commencement of the insurance or renewal, and adjusted for depreciation.

The table below lists the schedule of age-wise depreciation, for fixing IDV.

Age of the Vehicle % of Depreciation for fixing IDV
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding
1 year
15%
Exceeding 1 year but not exceeding
2 years
20%
Exceeding 2 years but not exceeding
3 years
30%
Exceeding 3 years but not exceeding
4 years
40%
Exceeding 4 years but not exceeding
5 years
50%