Cholamandalam MS General Insurance

An eminent insurance company, Cholamandalam MS, is a joint venture between the Murugappa and the Mitsui Sumitomo Group of Japan. The company has its headquarters in Chennai and has been a strong contender in the insurance market for the past decade. The company promises its customers the three Ts, which stands for trust, technology, and transparency. Let us take a look at the various types of insurance plans that are offered by the company:

1. Cholamandalam Car Insurance Plans
2. Cholamandalam Two-Wheeler Insurance Plans
3. Cholamandalam Health Insurance Plans
4. Cholamandalam Travel Insurance Plans
5. Cholamandalam Commercial Vehicle Insurance Plans
6. Cholamandalam Personal Accident Plans
7. Cholamandalam Fire Insurance Plans
8. Cholamandalam Property Crime Insurance Plans
9. Cholamandalam Home Insurance plans
10. Cholamandalam Liability Insurance Plans
11. Cholamandalam Engineering Projects Insurance Plans
12. Cholamandalam Engineering Operations Insurance Plans
13. Cholamandalam Marine Insurance Plans

Let us discuss these plans in detail

Cholamandalam MS Private Car Insurance Plan

It is mandated by the Indian Motor Vehicles Act,1988 for all motor vehicles to be covered by third-party liability insurance before they can come on the road. Cholamandalam MS Car Insurance offers the following:

• Third-party Liability Insurance Policy
  The most elementary kind of insurance, third-party insurance provides cover for any damage or injury/ death to a third party or property, that is caused by your car. A third-party insurance policy is compulsory as per the law.
• Comprehensive Car Insurance
  Comprehensive car insurance is basically a combination of third-party and own-damage cover, that covers the third-party damages/ liabilities along with the cost of repair of your own car. It also covers the damages that are caused to your own car due to man-made or natural disasters.
• Standalone Own Damage Car Insurance
  If your car is covered with third-party insurance, you can add a standalone cover to your insurance plan. With this cover, you would be able to cover the repair costs of your vehicle caused either because of an accident or any other calamity.
• Personal Accident Cover for Owner Driver
  Personal Accident Cover offers financial support of up to INR 15 lakhs to the policyholder/owner of the car in case of an unfortunate accidental event. In the case of physical harm to the insured person while driving the following scenarios are covered:
  1. Death
  2. Loss of limbs
  3. Permanent disability
• Zero Depreciation Car Insurance 
  With this plan, you can widen the basic cover of your car insurance plan, without bearing the depreciation loss. You will receive a 100% cover for the car parts at the time of claim.
• Available Add-ons for extra Coverage
  As many as 18 add-ons services are available for private cars, some of them are explained :

Cholamandalam MS Two-Wheeler Insurance Plan

The different aspects of Cholamandalam MS Two-Wheeler Insurance have been discussed below:

• Liability Only Insurance Policy
  Also called “Act Only Policy”, this kind of insurance is mandatory. It covers the damage or loss or injury or death to a third party or property, caused by your two-wheeler.
• Comprehensive Bike Insurance Policy
  Also called “Package Policy”, comprehensive insurance includes third-party liabilities and own-damages to the car along with theft/fire/natural or man-made calamities. This is an optional policy.
• Own Damage Bike Policy
  The damage or loss that your two-wheeler suffers due to accidents, natural calamities, man-made disasters, theft and transportation of the two-wheeler. This policy can be opted for if you already have third-party insurance.
• Compulsory Personal Accident Cover
  Cover up to INR 15 lakhs for accidental death or disability of the registered owner-driver the following scenarios are covered:
  1. Death
  2. Loss of limbs
  3. Permanent disability
• Add-ons for extra Coverage
  • Full Depreciation Waiver Cover
  • Return to Invoice Cover
  • Monthly Instalment Cover
  • Hydrostatic Lock Cover
  • Chola Value Added Services-Two Wheeler Package Policy

Other Types of Motor Insurance Plans:

• Commercial Vehicle
• Taxi/Cab/Auto Rickshaw Insurance
• Truck Insurance

Cholamandalam MS Health Insurance Plans

Health insurance helps you focus on the treatment and the recovery rather than stressing over the hospitalisation expenses. With the option of cashless treatment, Cholamandalam Health Insurance Plans are indeed beneficial. 

Cholamandalam MS Travel Insurance

If you are an ardent traveller, it is highly recommended that you consider investing in Cholamandalam MS Travel Insurance, in case any unforeseen situation arises when you are away from home. 

Cholamandalam MS General Insurance Premium Payment Process  

1. Online Payment Process
   Paying premium online is a very quick and convenient process. You need to visit the official website or click: https://www.cholainsurance.com. Select your insurance plan and make the payment through any of the electronic mediums.
2. Offline payment process
   You can also physically visit the branch office and make the payment in person. Remember the premiums will be accepted through cheque/ Demand Draft or an electronic medium.

Cholamandalam MS General Insurance Claim Process

Cholamandalam MS General Insurance Claims division ensures that the customers can make their claims with least effort and most convenience. 

1. Car and Two-Wheeler Insurance Plans
   The motor insurance claim form can be downloaded from https://www.cholainsurance.com/CholaWebapi/UploadedFiles/Motor%20Insurance%20Claim%20Form.pdf
   • Cashless Claims
     When you take your car/bike for repair at a network garage, the company surveyor assesses the damage and you can get the vehicle repaired. The bill will be cleared by the company.
   • Reimbursement
     When you take your vehicle to a non-network garage, you would have to pay for the repair yourself, however, you can submit all the bills and receipt and claim reimbursement.
2. Health Insurance Plans
   The health insurance claim form can be downloaded from this link: https://www.cholainsurance.com/Portals/0/Reimbursement-claim-Form-July-2019-08052020.pdf You can claim your health insurance in the following ways:
   • Cashless Claims
     When you get admitted to a network hospital, you would have to produce your Health Card and Photo ID Card at the hospital Help Desk. The TPA agent would then process the authentication. Your medical bills will then be settled by the company directly.
   • Reimbursement Claims
     When you get admitted to a non-network hospital, you would have to pay for the treatment cost yourself. However, after hospitalisation, you can claim the amount.

Cholamandalam General Insurance Policy Renewal Process

Renewal of your Chola MS insurance is easy and can be done in the following ways:

1. Online Renewal Process
   To renew the policy online, visit the official website, or click: https://www.cholainsurance.com. Go to ‘Renew’ and enter your policy details. You can make the payment through an electronic medium.
2. Offline Renewal Process
   You can also physically visit the branch office and renew the policy with the help of a company executive. The premiums will be accepted through cheque/ Demand Draft or an electronic medium.

Cholamandalam General Insurance Expired Policy Renewal

If your insurance policy has expired, you would not be eligible to make any claims and will have to bear the expenses yourself. Not just that, you would also be risking all the discounts and bonuses that you may have collected during the past years. 

1. Car and Two-Wheeler Insurance Plans
   To renew expired motor insurance, you would have to get a survey of the vehicle done and then you would be able to renew the policy.
2. Health Insurance Plans
   You must get your policy renewed within the grace period of 30 days if you wish to continue the cover. Note that a claim made during the grace period is not accepted.

Cholamandalam MS General Insurance Company-Company Profile

 With its customer-centric insurance products, dealing with health, motor, travel, rural etc. Cholamandalam MS General Insurance Company is steadily making its place at the top. The company recorded an Incurred Claim Ratio of 77% in the financial year 2018-19. It has also received various prestigious awards and accolades, here is a peek:

• The company was recognised as one of “The Economic Times Best Brand”s in 2020
• Conferred with ‘Pride of Tamil Nadu Award’ for general insurance category for its performance, market innovation and customer service
• Conferred with the ‘Best CSR Practice’ Award

Cholamandalam MS General Insurance Company Customer Care Details