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As the name implies, comprehensive car insurance provides coverage for both parties involved in an accident. This is a comprehensive policy that covers theft, vehicle damage, and legal liability. For added security of your car, add-ons such as monthly installment cover, personal belongings (inside the vehicle), waiver of depreciation, coverage for roadside assistance in case of breakdowns, and so on can be selected. With its comprehensive auto insurance coverage, the firm offers a total of 25 add-ons. This policy is popular since it gives end-to-end coverage for the policyholder's ease and security.
Murugappa Group and Mitsui Sumitomo Insurance Company have partnered to form Cholamandalam MS General Insurance Company. Mitsui Sumitomo is a Japanese insurance corporation with international business operations, while Murugappa Group is an Indian company. Chola MS offers various general insurance coverage, including health insurance, auto insurance, property insurance, and commercial insurance. Cholamandalam also provides car insurance, and there are several different types of car insurance policies available.
A wide range of coverage advantages is included in the comprehensive insurance. The policy covers third-party liability as well as damages to the vehicle itself.
Basis | Comprehensive Policy | Third-Party Cover |
Extent of Cover | Cholamandalam's comprehensive policy covers damages to the insured vehicle as well as all third-party obligations, including up to INR 7.5 lakh in compensation for third-party property damage. | Third-party coverage only provides compensation for a third-party injury or death, as well as a maximum reimbursement of INR 7.5 lakh for third-party property damage. |
Add-on Covers | With a complete policy, add-ons like as consumables cover, zero depreciation cover, and so on are available. | With a third-party liability policy, there are no add-on coverage options. |
Assistance Services | On an optional basis, roadside assistance services such as towing and emergency gasoline delivery are provided. | With third-party liability-only coverage, no assistance services are offered. |
Premium Cost | Comparatively costly | Lower premium rates |
Mandate by Law | Not mandatory | Mandatory |
Cholamandalam comprehensive car insurance online can be purchased directly from the company's website. The organization provides an online purchase option for its vehicle insurance, which is a quick and convenient approach. Follow the steps provided below –
Cholamandalam car comprehensive insurance policy coverage
Although Cholamandalam car insurance policies give a wide choice of coverage to satisfy your needs in the event of an emergency, some exclusions apply.
Here are some benefits of the Cholamandalam car comprehensive insurance policy -
Cholamandalam provides a variety of car insurance options to meet the demands of different people. The variety of add-ons also aids in customizing the insurance and providing complete coverage. Premiums are reasonable and affordable, and a large network of cashless garages ensures that your claims are processed quickly and efficiently. As a result, Cholamandalam vehicle insurance policies are superb and offer all-inclusive coverage features.
Cholamandalam provides both third-party liability and comprehensive car insurance coverage. In addition, it offers a variety of add-on coverings for added protection of your vehicle.
Cholamandalam provides roadside assistance to policyholders 24 hours a day, 7 days a week, in the event of an automobile breakdown. Fuel delivery, battery top-up, car breakdown assistance, such as changing a flat tyre, and on-site repair are all included in the service. It's worth noting that it's available as an add-on cover and thus costs money.
If your automobile is out for repairs, Cholamandalam will pay you INR 500 or INR 1,000 (depending on the additional premium) to cover your commute expenditures.
Cholamandalam does offer an optional personal accident policy of INR 2 lakh for co-passengers.
The No Claim Bonus (NCB) is a premium discount granted for claim-free policy tenures. For a maximum of five claim-free years, the reduction starts at 20% and can go upwards to 50%.