Cholamandalam Comprehensive Car Insurance

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Cholamandalam Car Insurance Highlights

Cholamandalam (Car Insurance)
Chola MS General Insurance Company Limited is a joint venture between the Murugappa Group and the Japanese-based Mitsui Sumitomo Insurance Company Limited. Keeping in mind the insurance requirements of both individuals and corporates, the company has designed an array of motor, health, property, marine, crop and travel insurance products. The entity runs 157 branches and has 50,000+ intermediaries in India.
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Claim Settlement Ratio
92
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Video Claim
Available
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Spot Claims
Available upto Rs 10,000
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Accidental Repair Warranty
Warranty rest with Repairer
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close Warranty rest with Repairer

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.

How does the Cholamandalam Comprehensive Insurance Policy Work?

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.

Cholamandalam Comprehensive Car Insurance vs. Third Party Car Insurance

BasisComprehensive PolicyThird-Party Cover
Extent of CoverCholamandalam'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 CoversWith 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 ServicesOn 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 CostComparatively costlyLower premium rates
Mandate by LawNot mandatoryMandatory

How to Buy Cholamandalam Comprehensive Insurance?

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 –

  1. Go to the company's car insurance home page at https://www.cholainsurance.com/car-insurance.
  2. Select the policy type you want to buy (in this case - the comprehensive insurance).
  3. Enter the details of your vehicle, and you'll be able to view the coverage value (Insured Declared Value) and premium cost.
  4. You can also select to add add-ons to the cover, which will raise the premium.
  5. Pay your premium online, your coverage will be provided immediately and without any hassle.

What All is Covered Under Cholamandalam Comprehensive Car Insurance Policy?

Cholamandalam car comprehensive insurance policy coverage 

  • Compensation for any third-party injury or death.
  • Up to INR 7.5 lakh compensation for third-party property damage.
  • Coverage for the insured vehicle's damages.
  • The policyholder's bodily injury (if opted for a personal accident cover).
  • Coverage against natural/man-made calamities like-riots, cyclone, earthquake, animal attack, tsunami, terror attack, etc.
  • Car theft and fire

What All is not Included Under Cholamandalam Comprehensive Car Insurance Policy?

Although Cholamandalam car insurance policies give a wide choice of coverage to satisfy your needs in the event of an emergency, some exclusions apply.

  • Cholamandalam auto insurance in India does not cover any consequential losses, mechanical or electrical breakdowns, wear and tear, failures, or breakages.
  • In India, Cholamandalam car insurance policies do not cover damage to the tyres unless the four-wheeler is also damaged.
  • Any loss or damage that happens due to driving under alcohol/drug influence is not covered.
  • Any loss resulting from the failure of parts is also not covered by the policy.

Cholamandalam Comprehensive Car Insurance Benefits

Here are some benefits of the Cholamandalam car comprehensive insurance policy - 

  • Liability insurance for all third parties.
  • Insurance to cover the insured vehicle's own damages.
  • A 'Fixed Daily Allowance' option is available when the damaged car is being repaired.
  • Optional coverage for lost keys, RCs, and licence.
  • A towing service worth up to INR 1,500 is provided free of charge.
  • Roadside support services are accessible 24 hours a day, 7 days a week.
  • A variety of add-on coverings are available.

Cholamandalam Comprehensive Insurance Policy Review

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 Comprehensive Car Insurance FAQs

  • 1. Does Cholamandalam provide comprehensive car insurance?

    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.

  • 2. What services does the roadside assistance cover of the comprehensive insurance provides?

    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.

  • 3. How much of a daily allowance under the Cholamandalam comprehensive car insurance would I receive if my car were to break down?

    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.

  • 4. Do co-passengers have personal accident insurance under Cholamandalam car insurance?

    Cholamandalam does offer an optional personal accident policy of INR 2 lakh for co-passengers.

  • 5. What exactly is NCB in Cholamandalam comprehensive car insurance?

    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%.

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