Cholamandalam Third Party Car Insurance

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Cholamandalam third-party car insurance shields you against any legal liability posed by the third party in the event of an automobile accident involving your insured four-wheeler. This car insurance compensates the third party for injuries, property damage or death resulting from an accident. It protects the car owner from third-party financial obligations. A third-party liability insurance policy is required under the Motor Vehicles Act of 1988 for any vehicle operating on Indian roads. As a result, a vehicle without third-party insurance is considered illegal.

In addition, covering for damages or injuries caused by your car to a third party could be costly. Having third-party car insurance is thus not just a legal need but also a prudent decision.

Cholamandalam car insurance third party covers any third-party liabilities arising from an accident or incident involving your insured vehicle. Coverage for death/injuries caused to a third party is included in Cholamandalam third party car insurance. The policy also covers the third-party property damage for up to INR 7.5 lakhs.

How does Cholamandalam Third-party Car Insurance Policy Work?

You can claim your third party policy of Cholamandalam car insurance in these simple steps.

Intimate Cholamandalam for Third-party Car Insurance Claim

Intimate the insurance company as soon as the incident happens. You can dial Cholamandalam’s toll-free number or file a claim form on the official website of the insurance company. Remember, a timely intimation is necessary to get the claim.

FIR Filing with the Nearest Police Station

1.Either you or the third party will need to file an FIR 

The accident's First Information Report (FIR) must be made with the local police station after the application has been submitted, detailing the specifics of the accident. The information given below must be included in the police complaint:

  • Witnesses' names and contact information
  • Driver's licence number
  • Keep a copy of the FIR as well as the original documents of the victim's expenses.

2.In the Motor Accidents Claims Tribunal (MACT), file a claim.

The next step is to register the complaint with the Motor Accidents Claims Tribunal after filing the First Information Report (FIR). To reach a decision, the Tribunal examines all of the evidence and testimony provided in the case. The owner-driver, as well as any witnesses, will be called to the final arbitration.

3.The amount of the cover is compensated.

The amount of third-party insurance that can be claimed has no set maximum. The insurer is responsible for paying the whole amount determined by the Court in its final judgement. The IRDAI (Insurance Regulatory and Development Authority), on the other hand, has set the maximum protection for property damage of third-party at INR 7.5 lakhs.

Cholamandalam Third-party Car Insurance vs Comprehensive Car Insurance

BasisThird- party PolicyComprehensive Policy
CoverageThird-party liability insurance covers harm to only third-party lives (bodily injuries/death) as well as third-party property damage up to INR 7.5 lakh.The comprehensive coverage covers the insured vehicle, third-party injury/death, and compensation of up to INR 7.5 lakh for third-party property damage.
MandatoryThis policy is mandatory to own as per Motor Vehicles Act,1988.This policy is optional to buy.
Add-onsWith third-party car insurance, there are no add-ons available.A complete insurance can include a variety of add-on covers, such as NCB protection, zero depreciation, and so on.
CostBecause it is a basic cover with minimal coverage, it is less expensive.Because of its comprehensive coverage, it is a relatively costly policy.

How to Buy Cholamandalam Third Party Car Insurance Online?

Cholamandalam car third party insurance online is available on the company's website. For its automobile insurance policies, the organisation offers an online purchase option, which is a convenient and quick method. Follow the given steps -

  • Simply go to https://www.cholainsurance.com/car-insurance to access the company's auto insurance main page.
  • Choose the sort of policy you'd want to purchase (in this case - Third-party),
  • You may see the premium cost and coverage value (Insured Declared Value) by entering the details of your car.
  • If you buy your premium online, you will receive coverage right away and without any fuss.
  • The insurer will send you the policy paperwork to your registered email address as well as your home address once the payment is received.

What All is Covered Under Cholamandalam Third Party Car Insurance Policy?

  • Liability insurance for third parties covers injury/death. A court of law determines the final amount of compensation.
  • Up to INR 7.5 lakh in compensation is given for third-party property damage.
  • Own damage coverage
  • Damages occured due to natural/man-made disasters like riots, animal attacks, earthquake, cyclone, tsunami, terror attack, etc are covered
  • Car theft and fire

What All is not Covered Under Cholamandalam Third Party Car Insurance Policy?

  • Damages caused due to illegal driving, speeding, driving under intoxications, driving without a licence, etc.
  • Damages caused outside the permissible geographical limits.
  • Normal wear and tear, and electrical and mechincal breakdown of the car
  • Driving under the influence of drugs/alcohol
  • Purposely/deliberately damaging the car

Key Benefits of Purchasing Cholamandalam Third-party Car Insurance

When you purchase Cholamandalam third party car insurance online, you will receive the following features and benefits: 

  • With 87 locations and more than 34,000 agents across India, the company is well-represented.
  • With its wide network of garages, the company will always there to assist you in need.
  • The company offers easy, quick and seamless claim settlement process.
  • The company has garnered numerous accolades over the years. 
  • The corporation regularly participates in CSR initiatives. The company got the Best CSR Practice Award for their services.

Cholamandalam Third Party Insurance Review

The Murugappa group is known for providing high-quality service at a fair price. Cholamandalam MS Car insurance is no exception. Cholamandalam MS Car insurance policy comes with the best benefits and is enhanced with the right add-on features. Not to mention the round-the-clock assistance and assistance that is provided in the event of an accident or a sudden breakdown, as well as the hassle-free claims processing. 

Cholamandalam Third-party Car Insurance FAQs

  • 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.

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