Cholamandalam MS Car Insurance FAQs

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Overview

  • 1. How many add-on covers does Cholamandalam MS Car Insurance Company offer?

    Customers can customise their car insurance policy by opting one or many add-on covers as under:

    1. Waiver of Depreciation
    2. Hydrostatic Lock Plus Cover
    3. Vehicle Replacement Advantage Cover
    4. Conveyance Allowance
    5. Roadside Assistance
    6. EMI Cover
    7. Key Replacement Cover
    8. Fixed Daily Allowance
    9. Cover for Personal Belongings

       
  • 2. What is the incurred claim ratio of Cholamandalam MS Car Insurance Company?

    The incurred claim ratio of Cholamandalam MS Car Insurance Company for FY 2018-2019 is 84%.
     

  • 3. How can I check my Cholamandalam MS Car Claim status online?

    For checking your Cholamandalam Car Claim Status Online kindly visit https://hub.cholainsurance.com/Claims/Account/Login?ReturnUrl=%2fClaims%2fClaim%2fClaimProductwiseSearch and enter the valid required details. 
     

  • 4. How can I download my Cholamandalam MS Car Policy Document Online?

    In order to download your car insurance policy document online you need to visit the following link and register a request copy of car insurance policy https://www.cholainsurance.com/customer-service#policycopyrequest 
     

  • 5. How long does Cholamandalam MS General Insurance Company Limited take to process and settle car insurance claims?

    Post completing all the documentation formalities the Cholamandalam MS General Insurance Company initiates the claim settlement process immediately. However, the maximum claim settlement time is 7 working days to reimburse the claim amount.
     

  • 6. Does Cholamandalam MS General Insurance Company offer pay-as-you-drive car insurance?

    No, the company does not offer pay-as-you-drive car insurance.

Renewal

  • 1. If I switch from my current insurer to Cholamandalam, how much of my NCB discount will be transferred?

    When you acquire a Cholamandalam car insurance renewal policy, you will receive your previous insurer's total NCB discount.

  • 2. Will my car undergo an inspection if I don’t renew my Cholamandalam vehicle insurance policy on time?

    You can prevent vehicle inspection if you renew within 90 days of the policy expiration date. Afterward, you will need to purchase a new car insurance policy. At that time, the inspection will happen.

  • 3. What if I forget the Cholamandalam car insurance policy renewal before the deadline?

    Renewing your coverage on or before the expiration date is a wise idea. If you miss the expiration date, you may always get it renewed within the next 90 days. Please remember that your car's insurance policy won't be renewed if you don’t do so during this period. In that case, you will need to buy an altogether new car insurance policy.

  • 4. After Cholamandalam renews car insurance, how is the no-claim bonus managed?

    The NCB can only be kept if the policyholder renews his existing Cholamandalam vehicle insurance policy on or within 90 days of the policy expiration date. If policyholders transfer their insurance policies from another insurer to Cholamandalam, they can retain the no-claim bonus benefit earned with the previous company. To be eligible for this benefit, policyholders must produce proof of the insured's NCB entitlement, which might be a renewal notice or a letter from their former insurer.

  • 5. At the time of the Cholamandalam insurance renewal, how is the insured declared value of the insured car determined?

    The insured declared value (IDV) is determined based on the current market value of the vehicle to be insured, minus depreciation and other deductibles.

Claim

  • 1. What should I do for a Cholamandalam car insurance claim if I'm involved in an accident?

    If there has been a major injury or death as a result of an accident, get medical help right away. After getting medical attention, dial Cholamandalam toll-free number - 1800-208-5544 - to report the accident and fill in the Cholamandalam car insurance claim form to initiate the process.

  • 2. Is it possible to cancel a registered Cholamandalam car insurance claim?

    Dial the customer care number of Cholamandalam to know whether you can cancel a registered claim. If that’s possible, the customer care executive will let you do so on the call.

  • 3.Does the Cholamandalam car insurance policy wording contain information about claims?

    Yes, it does! You can download the policy wording by visiting the official website of Cholamandalam. The process contains these steps. 

    • After you reach the website, go to ‘info center’
    • Click on ‘downloads’
    • Download the policy wording placed on your screen and check the claim process written in the same. 
  • 4. Is there a difference between cashless and reimbursement settlement methods of Cholamandalam in terms of claim amount?

    No, in both cases, you will get the claim amount up to the coverage limit as defined in your Cholamandalam car insurance policy.

  • 5. What role does a surveyor play in your Cholamandalam car insurance claim?

    The report prepared by the surveyor regarding the extent of damage will decide the fate of your Cholamandalam car insurance claim. If the report finds your claim legitimate, you can apply for either a cashless or reimbursement method. 

Policy Download

  • 1. Can I make changes to the Cholamandalam car insurance policy document?

    Yes, changes can be made in policy details by going under the 'Update Contact Details' option present in the 'Customer Services' section on the company's website.

  • 2. Is a hard copy of the Cholamandalam car insurance policy provided?

    The hard copy of the Cholamandalam car insurance policy is delivered to the registered address, but it can also be printed after downloading the policy from the website.

  • 3. Is it compulsory to carry a hard copy of the Cholamandalam car insurance policy?

    No, it is not compulsory to carry a hard copy of the Cholamandalam car insurance policy. Soft copies serve as legitimate proof of insurance by various insurance providers. The Insurance Regulatory and Development Authority of India (IRDAI) launched the e-Vahan Bima application for digitizing the vehicle insurance policy document.

  • 4. What details do you need to download the Cholamandalam car insurance policy?

    You only require the 17-digit policy number that you need to input without any slashes or unusual characters to download the Cholamandalam car insurance policy.

  • 5. What does the QR code mean in the Cholamandalam car insurance policy?

    The digital vehicle insurance policy materials also include a QR code that provides all of the policy's pertinent information.

Add On Covers

  • 1. Is the Cholamandalam zero depreciation add-on applicable to engine parts?

    No, the zero depreciation add-on cover doesn't provide engine damage coverage. The Engine add-on is required to protect your car's engine from loss or damage.

  • 2. What is the Cholamandalam licence loss cover add-on?

    If you lose your driver's licence, this add-on will reimburse you INR 500 for obtaining a duplicate licence.

  • 3. What is the Cholamandalam key replacement add-on?

    At the time of a theft or burglary claim, this add-on covers the cost of replacing the car's lock and keys.

  • 4. What is an EMI cover add-on in car insurance policies?

    If the insured car is damaged, this add-on will cover the EMI due to the financial institution for the loan you took out to purchase the vehicle.

  • 5. What is a daily cash allowance add-on in car insurance?

    If you make a claim and your car is being fixed, this add-on will provide you with a daily cash benefit of INR 500 or INR 1000 (depending on your preference) for the time your car is being repaired.

Comprehensive

  • 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%.

Third-Party

  • 1. What is Third-party Automobile Insurance (TPAI)?

    Third-Party Car Insurance protects you from any legal liability stemming from the insured vehicle's damages and injuries to property or a third-party person. When the policyholder is at fault, it also includes the death of a third party.

  • 2. Who is qualified for Cholamandalam Third-party Automobile Insurance?

    Cholamandalam Third-Party Car Insurance can be purchased by any car owner registered with the Regional Transport Authority in India.

  • 3. Even if I am a good driver, do I need to purchase Third Party Insurance?

    Every motor vehicle owner in India is required by the Motor Vehicles Act to purchase at least Third Party Insurance Cover.

  • 4. What is the best way of purchasing Cholamandalam third-party car insurance?

    The best way to purchase the Cholamandalam third-party car insurance is online. Visit the official website of Cholamandalam, look for the buy policy option, fill in all the necessary details, submit the documents and finally pay the first premium. That’s all and you will be good to go!

  • 5. Is it worth buying the Cholamandalam third-party car insurance?

    Yes. Even though it provides limited coverage, it is absolutely worth it to buy one.

Zero Depreciation

  • 1. Is the Cholamandalam zero depreciation cover add-on applicable to engine parts?

    The Cholamandalam zero depreciation car insurance does not provide engine damage coverage. For that, you need to buy the ‘engine protect’ add-on cover of Cholamandalam.

  • 2. As per the Cholamandalam zero depreciation car insurance, what is the insured declared value?

    The sum insured value that the policyholder receives in the event of theft or complete loss of the insured vehicle is known as IDV. It's the vehicle's current market worth minus the registration fee and depreciation value. However, the zero depreciation cover of Cholamandalam car insurance covers depreciation costs.

  • 3. When will I be able to purchase Cholamandalam car insurance zero depreciation add-on cover?

    Cholamandalam car insurance zero depreciation coverage is available for cars aged less than five years.

  • 4. What factors influence my Cholamandalam car insurance zero depreciation premium?

    It is mainly determined by the age of the vehicle to be insured, its model and make, and its location.

  • 5. Will I need to pay extra for keeping Cholamandalam car zero depreciation add-on cover?

    Yes, you will need to pay the extra premium for having this add-on cover. The premium of the base car insurance policy will combine with that of the add-on cover. 

Own Damage

  • 1. Is Cholamandalam car insurance standalone policy mandatory?

    No, Cholamandalam standalone own-damage car insurance policy is not mandatory. Still, it is beneficial because it covers a wide range of situations like accidents, fire, theft, burglary, explosion, man-made disasters such as vandalism, riots, etc., and natural calamities such as floods, earthquakes, landslides, etc.

  • 2. When can Cholamandalam standalone own-damage car insurance policy be claimed?

    This policy's coverage is permissible in the following situations:

    • Damages occured to the car in case of an accident.
    • Natural disasters such as floods, typhoons, earthquakes, and other natural disasters inflict damage to the car.
    • Damages to the vehicle caused by man-made events such as theft, fire, burglary, explosion, malicious acts, riots, strikes, etc.
    • Damages to the car caused by transporting it from one location to another. 
  • 3. Does Cholamandalam standalone own-damage car insurance policy have add-ons?

    Yes, Cholamandalam standalone own-damage car insurance allows you to include several add-on coverages.

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