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Car Insurance

Don't we just love our cars? It doesn't matter whether it is a Fiat or Ferrari, you take good care of your car. One of the most critical aspects of caring for your vehicle is getting the right car insurance.

Are you wondering why you should bother getting an auto insurance? After all, it will cost you some money. To begin with, car insurance is mandatory in India. If you are a vehicle owner, the law requires you to have auto insurance. However, this is not the only reason to get an insurance policy. With car insurance, comes peace of mind.

An accident can be very stressful. There may be so many things to take care of at the same time. With a good car insurance policy, the one thing that you will not have to stress over is the financial burden of the accident.

We know how much you love your car. We also understand how a sudden financial obligation can totally derail all your plans. But there is more. An accident may result in you or a loved one getting hurt. What if you caused damage to another vehicle and are held liable to compensate for this? What if the accident caused injury to someone else? With these thoughts, we have introduced some of the best options in car insurance. You can choose a cover that it best suited to you and your vehicle.

The Chola MS Private Car Insurance Policy makes sure that you do not have to worry about the finances required to repair your vehicle, to seek good treatment and to pay for any third party liability.

While having an accident is what comes to mind when we think of auto insurance, this is not the only mishap that our policy covers. You also get cover for natural disasters, like earthquakes and floods, as well as for delinquencies, like theft, vandalism and acts of terrorism. An unexpected catastrophe should not leave you financial strained. So, get a Chola MS Private Car Insurance Policy today for complete peace of mind.

We not only ensure that you get the maximum financial coverage. With a Chola MS Private Car Insurance Policy, you can be assured of easy and hassle-free claim settlement. Read on to know about the other benefits that you can get when you buy a car insurance policy from Chola MS.

For complete details on policy coverage, please refer the policy wordings

Here's a look at the wide range of benefits you stand to gain when you choose Chola MS for your car insurance:

  • Complete comprehensive cover that offers both Third Party Cover and Own Damage Cover
  • Third Party Liability Cover that includes TP Personal Liability & Property Liability
  • Personal Accident Cover for the owner, driver and passengers
  • Protection for your vehicle against damage or loss due to accidental external means, theft, burglary and various other perils
  • Discount on Own Damage (OD) premium for claim free policy years - No Claim Bonus
  • Optional cover for personal accident of up toINR 2 lakhs for passengers in your car
  • Cashless claims facility available at more than 600 Chola MS preferred garages
  • Seamless and hassle-free claims process
  • Facility to buy online car insurance through simple and hassle-free procedures
  • Quick and easy online insurance renewal process

* Conditions apply.

Chola MS Car Insurance protects your vehicle against:

  • Third Party Personal Liability with unlimited coverage. The amount awarded by the court as your liability to a third party due to accidental death or injuries caused by your vehicle will be compensated for under the vehicle insurance policy.
  • Third Party Property Damage with a maximum cover ofINR 7,50,000, in case of private cars.
  • Own Damage Cover protects against damage or loss due to:
    • Fire, lightning, self-ignition or explosion
    • Burglary, theft or housebreaking
    • Strike or riot
    • Earthquake (shock damage and fire)
    • Flood, inundation, storm, tempest, typhoon, hurricane, Cyclone and Hailstorm
    • Accidental external means
    • Malicious acts
    • Terrorist activity
    • During transit by rail, road, inland waterway, air or lift
    • Landslide and rockslide
  • Personal Accident Cover with compensation for owner cum driver.
  • LL to Paid Driver.
  • PA cover for named & unnamed passengers, including spouse, children, parents, etc
  • Legal liability towards employees arising out of an accident involving the insured vehicle.

Other Covers available are

  • Discounts include No Claim Bonus, Automobile Association Membership Discount, Discount for Anti Theft Devices approved by Automobile Research Association of India (ARAI) that are fitted in the vehicle
  • Add-on Covers for Private Vehicles include a wide range of additional covers that you can choose from for enhanced protection of your vehicle.
  • Fixed Daily Allowance of INR500 orINR1,000 per day to meet the cost of hiring a car (for a maximum of 5 days per policy period) if the insured vehicle was involved in an accident and is under repair at a garage.
  • Reinstatement Value to ensure maximum claim benefit - Full Car Investment Security with compensation based on the vehicle invoice value# and zero depreciation charges on repaired parts
    (# Excluding vehicle registration charges and road tax.)
  • Waiver of reduction in depreciation for partial losses, such asreplaced vehicle parts, depending on the age of the vehicle.
  • Cover for personal belongings and clothing destroyed or damaged in a fire or an accident (the items must have been inside the locked car during the mishap). The maximum reimbursement during a policy period isINR10,000
  • Reimbursement of expenses towards obtaining a duplicate ignition key up to a maximum ofINR 1,000, following the loss of the original ignition key
  • Compensation for obtaining duplicate license (fixed sum ofINR 500) in the event that the original driving license for a light motor vehicle is lost
  • Cover for road tax and registration charges
  • Chola Assistance for roadside emergencies - Support is available 24x7 for spot assistance, including fuel delivery and battery top-up, as well as car breakdown assistance including fixing a flat tyre or on-site repair. CARE 24x7 can be reached at 1800-103-5354 /1800-209-5354 (Exclusive toll free numbers for CARE Services only).

The Chola Protect insurance policy for private vehicles does not cover the following:

  • Accidental damage or loss while driving under the influence of intoxicating liquor or drug
  • Accidental damage or loss due to willful negligence
  • Loss or liability while the vehicle is being used outside the scope of limitations of use and/or being driven by a person not duly licensed
  • Consequential loss, wear & tear, depreciation, mechanical & electrical breakdown / failure of breakages
  • Loss due to radioactivity or nuclear weapons
  • Loss arising out of war and related activities

Please refer to the policy wordings for details of complete coverage, exclusions, and terms and conditions.

* Conditions apply.

The Insured's Declared Value (IDV) of the vehicle will be deemed to be the 'Sum Insured,' fixed at the commencement of each policy period for the insured vehicle. The IDV of the vehicle is fixed on the basis of the manufacturer's listed selling price for the specific brand and model of the insured vehicle at the time of commencement of the insurance or renewal, and adjusted for depreciation.

The table below lists the schedule of age-wise depreciation, for fixing IDV.

Age of the Vehicle % of Depreciation for fixing IDV
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding
1 year
Exceeding 1 year but not exceeding
2 years
Exceeding 2 years but not exceeding
3 years
Exceeding 3 years but not exceeding
4 years
Exceeding 4 years but not exceeding
5 years

* Conditions apply.

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All Rights Reserved. Cholamandalam MS General Insurance Company Ltd. Insurance is the subject matter of solicitation.

Cholamandalam MS, a General Insurance Company in India, offers a wide range of insurance policies for individuals and corporates. For individuals, there are products
like Car insurance, Travel Insurance, Health Insurance, Accident Insurance and Home Insurance. For SME's and Corporate Insurance clients, Chola MS offers customized solutions encompassing insurance and risk consulting services such as Engineering Insurance, Liability Insurance, Marine Insurance, Property and Miscellaneous Insurance

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At Chola MS, we aim to keep you updated on the latest products and services, to add value to your experience with us. We convey such information by letter, e-mail or the phone and only to those whom we think will find these products and services interesting and beneficial.

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If this is the case with you, you may please let us know your phone number(s) that you want excluded from our telemarketing list. The details that you provide to us will remain confidential.

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  • We will make every effort to see that you do not receive any unwelcome marketing calls from Chola MSon the registered numbers.
  • Registration on the DNCR will only bar unsolicited calls for Chola MS products and services and not for the product and services of any other group companies.

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Mr. S S Gopalarathnam is the Managing Director of Cholamandalam MS General Insurance Company Limited (Chola MS).

He joined the Murugappa Group in 1979 as a Management Trainee and has been with the group for the past 30 years. Mr. Gopalarathnam has been with Chola MS as Chief Financial Officer since its inception, became President Operations in 2006 and took over as Managing Director and CEO in April 2008.

A graduate of commerce and a qualified FICWA from the Institute of Cost and Works Accountants of India, he has extensive training in the areas of strategy, finance and leadership.He has also recently undergone an Advanced Management Program at Harvard University, USA.

He was an active member of IRDA's Working Group responsible for revamping investment regulations in India, and a member of the Committee to revamp Motor Pool in India.