Chola - Comprehensive Car Insurance Banner

InsuranceProducts

I agree to the Terms and Conditions

Chola - What is Comprehensive Car Insurance Content

What is Comprehensive Car Insurance?

Comprehensive car insurance, as the name suggests, offers overall cover for damages to both parties involved in an accident. This is an extensive policy because it covers damages to car, theft of car, legal liability towards third-party and personal accident cover. The policy coverage can also be extended by opting for add-ons like Monthly Instalment Cover, Coverage for Roadside assistance in case of breakdowns, Waiver of Depreciation, Personal Belongings (inside the vehicle), etc. This cover is preferred due to its end-to-end coverage, which provides convenience and security for the policyholder.

Chola - Why choose Chola MS Comprehensive Car Insurance Content

Why choose Chola MS Comprehensive Car Insurance?

Customer convenience lies at the heart of everything we do.

Competitive Premiums

Overpriced premiums have no place at Chola MS. We offer competitive and best-priced premiums to all our customers. Get a quote and find out for yourself. It’s just a click away.

Exclusive Discounts

Chola MS ensures customer delight always. Our customers are eligible for discount on purchases from Pharmacies and for services in leading Diagnostic Centres spread across the country.

Quick & Hassle-free Claims

15,000 claims settled within a month and 60% claims settled in 10 days. Our claim process is designed to assist customers with a speedy turnaround on their claim settlement.

Limitless Claims

No restrictions on claims. Register as many as you need until the IDV is exhausted.

Doorstep Pickup & Repair

Doorstep pickup, repair and drop.

Low IDV

Customize your IDV to suit your requirement.

24*7 Phone,Email& Chat Support

Phone and Email Support is available even on national Holidays.

Cashless Garages

8500+  Cashless Garages spread across the country for your convenience.

Chola - Benefits of Comprehensive Car Insurance

Benefits of Comprehensive Car Insurance

Comprehensive Car Insurance attracts a higher premium when compared to Third Party Car Insurance, but with good reason. A comprehensive cover provides an extensive insurance cover benefits with the option of ‘Add on’ covers. A standard comprehensive car insurance policy covers you for the following:

Theft of your car
Damage to your car due to natural calamities and disasters
Damage to your car due to an accident

Chola - Here are some of the features of Car Insurance

Here are some of the features of Car Insurance

Receive quick and hassle free claims at Chola MS which is designed for speedy turnarounds on claim settlement for the comfort of the customer

With zero restrictions on claims, you can register as many claims as you need until your IDV is exhausted

Receive 24*7 customer support via chat, email and phone calls, even on national holidays

Chola - What does your comprehensive car insurance policy give you Content

What does your comprehensive car insurance policy give you?

Personal injury in an accident

Damage to your car due to fire or explosion

Damage to vehicle or property of a third party in an accident

Injury to a third party during an accident

To ensure there are no shocks or surprises when you make a claim make a note of these events and situations which are not covered under this policy.

If the event occurs post expiry and prior to renewal of the policy, your car will not be covered. Policy must be in force at the time of damage thus it is important to renew on time.

Depreciation in the value of the car is not covered.

Any electrical or mechanical breakdowns are not covered under this policy.

Driving under the influence of drugs/alcohol is out of insurance coverage scope

Any damages to your car due to war, terror attacks, invasion, radiation, rebellion or hostilities will not be covered.

Activities in violation of the law such as driving without a valid license, driving on the wrong side of the road or underage driving are not covered by the policy.

Damages due to negligence such as forgetting to lock the car leading to theft are out of scope.

Damages caused by deliberate attempts such as intentionally hitting your car to cause an accident will not be covered by this policy.

Chola - Make A Claim Car Insurance

Make A Claim On Your Car Insurance

Call us at 1800-208-5544 or file your claims online. Now we provide better alternative of intimating claims through Live video streaming(LVS)
The Surveyor will visit the accident spot or garage and inspect the damages in intimation process. Through LVS, we conduct real time assessment of damages sustained by your vehicle, thereby saving time.
The documents related to the Insurance policy will be verified.
Sit back and relax! Let the claim process be underway. You may track your request by contacting our Customer Support at the click of your mouse.
Stay cool and calm while we settle your claims in no time!

Chola - (White)Modifying/Endorsing Your Insurance Details Content

Modifying/Endorsing your Insurance details

In case of change in name, address or any other details in the policy, you can contact Chola MS for endorsement request. The request will be raised and the same changes will be updated in the policy.

Garage Search

8500+

Cashless Network Garages

Find Your Nearest Cashless Garage

LOCATE GARAGES NEAR me

or

Blogs

Blogs

5 Tips to reduce Motor Insurance Premiums

Car Insurance17 Sep 2021
Prior to buying a vehicle, most of us spend a lot of time and research in choosing the right one for us, the right accessories with the best price that is out there. But, what we don’t realise is that the process just doesn’t end with choosing the vehicle. One of the major factors we often tend to ignore when we buy a vehicle is the motor insurance that keeps your vehicle protected from any liability. Most people view it as an additional and unnecessary expense, but what they don’t realise...

Planning a short road trip after your vaccination? Here are some tips to follow

Car Insurance17 Sep 2021
Are you planning a road trip? With the current situation, there are considerable risks and hence it is your responsibility to make mindful preparations for the same. For starters, one needs to be aware of the protocols followed by each state and their respective rules to enter. As more and more people are planning to travel again, their priority is to be vaccinated and stay safe as well. We are not over the pandemic yet, and typical road trips concerns are on the top of mind. While...

Hand brakes - When to use it and importance!

Car Insurance17 Sep 2021
Handbrakes are called many different names - parking brakes, e-brakes, or emergency brakes. In other words, it is the lever to a completely mechanical braking system that bypasses the primary hydraulic system if a failure is detected. In this article, we will be discussing when one should and should not use a handbrake. When TO use a handbrake ● In an emergency A handbrake is also called an emergency brake as it was originally designed to use only...

Understanding Third Party Insurance

Car Insurance17 Sep 2021
Insurance is a vast topic and those wanting to buy new insurance often get confused about which policy to choose. To gain a better understanding of what a policy can provide for the insured, one must understand how different types of insurance works. Let us understand how third-party insurance is different from other insurance policies. Insurance – Parties Involved The Insurance agreement involves three parties. To understand how third-party insurance works, it is...

Are Floods Covered Under Third-Party Car Insurance

Car Insurance17 Sep 2021
Insurance can be a tricky topic for many. It involves a lot of technicalities that might often seem beyond normal understanding. As a consumer and policyholder, the one who buys a new policy must be aware of what the inclusions and exclusions of their plan are. For instance, one might own third-party insurance and not realise that there is no cover for themselves or their car. It is essential to understand what is covered under one’s policy. Let us understand how a cover for natural...

Driving Under Influence in India

Car Insurance17 Sep 2021
Owning a car is a huge achievement for many people. Just like owning a house, many people dream about buying a car or a bike. People earn and save a lot of money or even take loans to buy their dream vehicle. In our country, owning a vehicle is a necessity for many and a luxury for others. Urbanisation has led to more instances of drunk driving cases and Driving Under Influence (DUI) cases in India. Driving under influence is a serious and punishable offense and let us understand the laws...

Offline vs Online Car Insurance

Car Insurance17 Sep 2021
With the explosion of internet penetration, big companies are now channelizing their resources to make the most of new, digital ways in which they can serve customers. With the digital way of life permeating almost all aspects of modern life, the insurance industry is no stranger to this paradigm shift. Especially when it comes to auto insurance, online insurers are changing the game. Most of them offer the option to purchase motor insurance offline. While you may be someone who...

India's Motor Insurance Sector: Challenges and Opportunities

Car Insurance17 Sep 2021
Many businesses and industries have been impacted over the last two years on account of the spread of coronavirus. Small businesses went under, industries were affected, and one such industry was that of motor insurance. Here are some of the challenges the motor industry faced and continue to do so. Dip in vehicle purchases: With lockdowns put in place and people isolating themselves at home, motor traffic on the roads saw a sudden dip. New automobile purchases constitute...

Can you Lower your Car Insurance premium?

Car Insurance17 Sep 2021
There was a time when insurance providers used to advertise their policies as ones with lower premiums. Ever since the government of India has made third-party liability insurance mandatory for all vehicle owners, the prices of insurance policies have become expensive, yet affordable. Shelling out high premiums is the one key reason why people are wary of getting any insurance policies. But, did you know there are ways in which you can...

Add-ons in Comprehensive Car Insurance

Car Insurance17 Sep 2021
When you buy a car, you protect it with basic third-party insurance to provide coverage against any liabilities caused due to the loss or damage of a third party, person, or property. But do we do our best to protect our vehicles and members in the car? Are we getting the maximum protection with our chosen basic insurance policies? This is why insurance companies have curated some add-ons in comprehensive car insurance that gives us complete protection. Read further to know more about the...

Chola - Comprehensive Car Insurance Frequently asked questions

Comprehensive Car Insurance Frequently asked questions

What is Car Insurance?

Car insurance provides protection to your car against damages which may result in financial losses. Additionally, it also insures you to the extent of any third party liability arising from the use of the insured vehicle.

What are the different types of insurance policies available? Is it compulsory to take OD/ comprehensive cover?

There are two types of Car Insurance policies – Third Party Insurance and Comprehensive Insurance policy.

What is a Third Party Insurance policy?

Third Party Insurance is the most basic prerequisite by law to drive a vehicle in India and is also the most economical insurance coverage option. It is a liability only policy that provides cover against any legal liability, damages and injuries caused by the insured vehicle to a third-party person or property.

What is a Comprehensive Insurance policy?

A comprehensive insurance policy provides protection from road accidents, fire, theft, vandalism, falling objects, damage to insured vehicle by animals, natural disasters, civil disturbances and third party liability in the event of third party property damage, bodily injury and death.

Is buying Car Insurance mandatory?

As per the Motor Vehicles Act, 1988, it is mandatory for every motor vehicle plying on the road to be insured with a Third Party Liability only policy at the very least.

Should I buy a Comprehensive Car Insurance or just a Third Party policy?

As per the law, a third party liability only policy is mandatory, without which one cannot use the vehicle on the road. However, under a third party liability only policy, damage to your vehicle from events such as theft, fire, earthquake, terrorism etc. is not covered and could result in huge financial losses. Thus it is advisable to buy a comprehensive cover because it provides financial and third party liability protection.

What is No Claim Bonus?

No Claim Bonus (NCB), as the name suggests, is a reward or bonus from the insured to the policyholder for not making a claim in the preceding years. NCB is a discount ranging from 20-50% on premium payable which cannot be claimed right away but needs to be earned by maintaining a claim-free record.

What happens to the accumulated No Claim Bonus at the time of renewal of an expired policy?

No Claim Bonus (NCB) carries a validity of 90 days from the policy expiry date. The NCB will become 0 and if the policy is not renewed within 90 days. No benefit shall be passed on to the renewed policy if renewed after 90 days.

How can the No Claim Bonus be transferred to a new vehicle?

After sale of existing vehicle, a No Claim Bonus reserving letter is issued by the existing Insurer. On the basis of this letter, this benefit is transferred to the new vehicle.

How do I renew my expired car insurance policy?

After the expiry date Chola MS has a 30-day grace period within which the customer can renew the policy and the NCB will be continued. If the customer wants to renew the policy after the 30-day grace period, s/he should call the Toll Free Number 1800-208-5544 (in India) where the Customer care personnel will guide the customer through the Break-in vehicle inspection app, post which the renewal process will be initiated.

What is the process for transfer of insurance?

Contact the Insurer with supporting documents - sale deed/form 29/30/NOC of seller, Old RC copy, Transferred RC copy and NCB recovery amount for transfer of insurance.

What is IDV?

IDV or Insured Declared Value is the current market value of your car. For instance if the purchase price of your car is Rs. 8 lakhs, its value after a year will certainly be less because a car is a depreciating asset. Once you start using your car, its worth also decreases due to regular use, wear and tear. Thus after a year its value will be around Rs. 6.40 lakhs. This amount (the current market value) is called the IDV of the car. IDV is the maximum Sum Assured determined by the insurer and given to the policyholder on damage/loss or theft of the car.

Which parameters are considered in IDV calculation?

The following parameters are taken into account for IDV calculation - Vehicle’s Age, Manufacturer, Make, Model of the Vehicle and City/Vehicle Registration Details.

Why is IDV important?

IDV is important in determining the premium amount. The IDV of a vehicle usually falls within a certain range based on the vehicle’s ex-showroom price. Thus it is important to know the IDV for your vehicle to ensure you pay the correct premium amount. In the event of an accident, damage, theft you might receive a lot less than is due if the IDV is incorrect. Make sure the IDV is correctly stated for accuracy of sum assured.

What are the additional benefits of buying car insurance online?

Zero paperwork and physical documentation and your policy is delivered instantly to you.

What happens to the insurance policy when you sell your car?

The existing insurance policy can be transferred to the buyer by passing an endorsement under the existing policy. Supporting documents required for this process include - sale deed/form 29/30/NOC of seller/NCB recovery. You can also cancel the existing policy. Supporting documents like sale deed/form 29/30 are required to cancel the policy.

How can I register a new claim if I have a Chola MS Car Insurance policy?

You may register a claim either on Chola MS’ website or through the call centre using the Toll Free Number 1800-208-5544 (in India).

Testimonial

Hear from our Happy Customer

4.7 Stars Rating

user-icon

Shashi

18 September 2021

Very good product

user-icon

Kuldeep

17 September 2021

Very good

user-icon

Gnaniyar Zubair

29 August 2021

Good customer support..

Comprehensive Car Broacher