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Chola Buy Or Renew two wheeler Insurance Policy Online Content

Buy/Renew two wheeler Insurance Policy Online

What is Two-Wheeler insurance?

Two-Wheeler insurance or a Bike/Scooter insurance policy protects your bike against damages occurring as a consequence of accidents, fire, theft, natural disasters, etc. It also protects you against the costs of treatment for injuries sustained in the accident as well as third-party liability.

In India, to drive a bike, it is mandatory to have third-party insurance under the Motor Vehicle Act of 1988. Apart from this basic bike insurance cover, you can also opt to have an extra layer of protection with our comprehensive bike insurance policy.

Chola MS offers simple policy purchase and renewal process, Hassle-free claims and customized IDV. Chola MS has wide network of 8500+ cashless garages.

Chola - Simple steps to buy/renew Bike insurance online Content

Simple steps to buy/renew Bike insurance online

When buying or renewing your bike insurance online, we at Chola MS provide three simple steps to get the work done with zero hassle. All you have to do is:

1
2
3

Step 1 Submit Relevant Details

Select the details regarding your bike and receive a quote from us.

Step 2 Choose the Best Cover

Pick the right bike insurance policy as per your choice, and select the add ons if needed, as per your requirement.

Step 3 Premium Payment

Make the payments for the insurance purchased, and within no time, get the soft copy of your purchased policy directly in your inbox.

Chola - What does your two-wheeler insurance offer you Content

What does your two-wheeler insurance offer you?

Protection of legal interests

Two-wheeler insurance offers you protection against legal liabilities of the third party in case of an accident. The insurance pays full compensation to the third party, protecting you from any legal ramifications.

Personal accidental cover

This includes a payout to compensate for death, dismemberment of two limbs, loss of sight in both eyes, loss of one limb and one eye, and permanent and total disability due to accident.

Accidental damage

Own damage insurance for Bike/Scooter is provided wherein damages to your bike that occurred during an accident are covered by the insurance company. We pay the full cost of repairs for the said damage.

Deliberate man made damage

Damage caused by men via acts of vandalism, terrorist strikes, and other such malicious activities, as well as damages incurred during strikes, protests, and riots, is all covered under your two-wheeler insurance policy.

Theft or loss

In the case of theft, loss, or vandalism of the bike due to any other circumstance, as soon as the fact is proven, you become eligible to receive the full compensation to help replace what you have lost.

Fire damage

Damages by fires not caused deliberately by you will be covered by your insurance. Your insurance provider will cover the repairs or replacements that are needed thereafter.

Damage caused by natural calamities

The policy includes own-damage bike insurance for damages that occurred due to natural calamities or acts of God such as landslides, earthquakes, floods, etc.

The possibility of add-on riders

With a comprehensive bike insurance policy by Chola MS, there is the possibility of adding riders. The riders can be chosen from options like a zero dep bike insurance cover, roadside assistance cover, and many more.

Damage during transit

Damages incurred while transiting via elevators, rail, road, inland waters, etc., are all covered under the comprehensive two-wheeler insurance by Chola MS.

Driving under the influence

If you are found to be under the influence of alcohol or drugs at the time of the accident, you will be considered liable for your actions. The result will be that you will not be eligible to receive any of the benefits offered by your insurance policy.

Unlicensed driver

In case you fail to produce a valid license, the insurance policy will not be applicable. Furthermore, you will face legal ramifications for endangering your own as well as the lives of other people on the road.

Damage not caused by an external source

Damages or breakdown resulting from regular wear and tear, old age of the vehicle, and other issues that are not a direct consequence of an accident, fire, vandalism, or natural calamity are not covered by insurance.

Theft or loss of accessories only

In the case where only the accessories of your bike are stolen or lost and not the bike itself, an insurance claim cannot be entertained by the company.

Damage caused by willful negligence

Any damages resulting from willful negligence will not be eligible for receiving repair aid from your insurance provider. You will be solely responsible for the damage and will have to pay for the repairs yourself.

Damage occurred outside the geographical boundary of India

If you are travelling outside the country with or on your bike, your regular insurance will not settle any claims for damages that may occur outside the geographical bounds of the country.

Chola - Add-on covers offered in Two wheeler insurance Content

What are the Add-on covers offered in Two wheeler Insurance?

Zero depreciation cover

With this add-on, no depreciation is taken into consideration. This means that during the repair or replacement, or any such damage or loss, you receive the full value of your claim.

Return to invoice cover

In the cases where there is a total loss of your vehicle; that is, the loss or damage is beyond repair, or there is a case of theft of the vehicle, this add-on ensures that your vehicle is covered

Roadside assistance cover

With the help of this cover, our add-on cover will cover roadside assistance expenses like the battery jump-start, charges for the towing facility, flat tyre or minor repairs assistance, hotel stay or even a ride back home.

Consumables cover

The smallest of aspects of your bike is insured as per the consumables cover. Every consumable item, like the engine oil, the nuts and screws, the distilled water, or other items of similar nature, are covered under this add-on cover

Chola - Compare Two Wheeler Insurance Content

Compare Two Wheeler Insurance

Product features

Comprehensive Insurance Cover

Third-Party Insurance Cover

Losses and damages due to natural calamities like lightning, earthquakes, storm , etc.

Losses and damages due to manmade calamities such as riot or terrorist activity.

Losses and damages due to theft, burglary, and vandalism

Damages due to fire or explosion

Zero Depreciation, Roadside Assistance, and other add on covers etc

Personal Accident Coverage

Injury to the third party

Losses to the third party

Loss and damage due to war or mutiny

Chola - How to Choose the right two-wheeler insurance Content

How to Choose the right two-wheeler Insurance

Now, we've already established that having two-wheeler vehicle insurance is a mandatory legal requirement, then why not choose the best one?Just like how you consider many different factors while purchasing the vehicle, the same should be done while choosing the best insurance policy.Let us help you and give you some insights into what exactly should be done while deciding on a new insurance policy.

Vehicle Insurance Coverage

After going ahead with the research, the next comes your coverage. The main aim of purchasing an insurance policy is to minimize your monetary losses as much as you can during times of accidents or any unfortunate events. While conducting the research, you should also look forward to finding what kind of coverage you need.

The market has a lot of different types of insurance. Usually, an insurance provider will give you a list of different policies that you can choose from. These policies are determined by what they are offering, as well as their prices.

The company will tell you that the comprehensive insurance policy offers the best coverage since it provides everything. You should go for an insurance policy that provides third-party liability insurance, own damage, and desirable add-ons. Once you come to know about your needs, you'll automatically know what type of policy you need.

Factors Other Than Premium

Now that you know about your coverage, you can research various insurance providers and their vehicle insurance policies that offer coverage at lower prices. The prices depend on the providers mainly and also on what they offer. Researching about different providers and policies will help you know about the different prices and related coverage.

Some people say paying a low amount of premium makes up a good policy, while some believe in investing excess money to get the best insurance. Now, it's for you to decide by doing a bit of research and knowing your needs.

Know Your Bike Properly

Usually, your two-wheeler vehicle's cubic capacity or cc decides the rate of insurance premium you will have to pay. Make sure that you know all your vehicle specifications before choosing an insurance policy. Normally, there's a direct relationship between the cubic capacity and the premium prices.

Look for IDV

IDV, or Insurance Declared Value, is technically your vehicle's current market price/value. This price is the maximum amount that can be insured and is fixed while purchasing the insurance policy. This amount is also the one that would be paid; if so, it happens that you undergo a total loss or direct theft of your two-wheeler.

This is an important consideration because, over the years, your two-wheeler's value will get lowered due to factors such as depreciation. This will also cause the IDV to get lowered, along with the premium.

Chola - Make A Claim Two Wheeler Insurance

Make A Claim On Your Two Wheeler 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. In LVS we have real time assessment through which vehicle damages are assessed real time by saving time and process with next steps.
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.

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Chola - Two Wheeler FAQ's Content

Two Wheeler Frequently Asked Questions

1.What is Insurance Declared Value (IDV)?

Insurance Declared Value is the maximum amount insured that's fixed by your insurance company in cases of total loss or theft of your two-wheeler vehicle. This amount is considered the current market value of your vehicle.

● So, when considering your insurance, it's your maximum claim amount that your insurance company will pay if your vehicle is broken, damaged, stolen, or suffered a complete loss.

● The price that is considered/calculated here is the same as the market value.

2.How to calculate IDV?

● There are several online calculating software that is reliable, useful, and time-saving.

● The complex process involves considering the vehicle manufacturer's listed selling price at the time of calculation. This amount is adjusted according to the depreciation.

● With online calculators, you can easily determine the market value and accurate premium account depending on your bike insurance policy.

● Normally, insurance and registration amounts are excluded from it.

● In cases of insurance of non-factory-fitted vehicle accessories, the IDV would be calculated separately.

3.What are the factors considered for calculating IDV?

While calculating the IDV, some of the factors taken into account are

1. Age of two-wheeler vehicle

2. Registration date

3. City of registration

4. Fuel type

5. Model and type of vehicle

6. Insurance policy term

The main focus is on the term or age of the vehicle since that's how even the depreciation factor can come into account. It's always advised to get an IDV that's closest to the market value, but it also depends on your insurance company. The company may offer to even reduce the IDV by some percentage which would mean a lower premium rate.

4. What is long-term insurance?

Recently, the IRDAI, or The Insurance Regulatory and Development Authority of India, has introduced a long-term policy, especially for the two-wheelers. This allows the owners to directly obtain a long-term two-wheeler vehicle insurance policy, which is valid for three years. One of the major benefits of this is that the two-wheeler vehicle owners can escape the revision of third-party rates that occur every year, allowing them to save more.

5. Why should I get my insurance online?

Here are some reasons you should get your two-wheeler insurance online

● Renewing or even purchasing a new insurance policy online helps you to save a tremendous amount of time. Chola MS agents help you out efficiently and accurately so that you choose the best and stay safe.

● When you opt for availing of insurance services online, you get a bunch of options from which you can choose. There are so many insurance companies from which you can easily select your policies from the comfort of your home.

● You can compare prices, coverage options, terms, and everything between various insurers efficiently online. During these price comparisons, you'll also save a ton of money, keeping in mind policy prices, transport fare from your house to the company office. This way, you'll get the best of both factors at your home.

● Even while opting or renewing a policy, you don't have to take a lot of effort at all. Our website at Chola MS is so easy to navigate that it almost feels like no work.

● When you opt for online services, you get 24/7 services almost every time, meaning you get instant service. Now there's no hassle of waiting in the lines and for the agents- you can easily do everything online.

6. Is it legally mandated to get my vehicle insured? What happens if my vehicle isn't insured?

According to the Motor Vehicles Act,third-party two-wheeler insurance is important for every vehicle. The third-party liability usually covers- legal liability in cases of injury, death of a third party due to accidents, and legal liability because of damage to surroundings.

If, in any case, a driver doesn't have insurance, then according to Section 197 of Motor Vehicles Act, 1968, he/she will be charged progressing fines- ₹2000 for the first time, ₹4000 for the second, and so on.

7. Why should we choose Chola MS?

For Chola MS, customer service is the priority paired with unmatched services when it comes to two-wheeler insurance. We offer total transparency with matters related to insurance and policies. We take it as our responsibility to let our customers know about every small detail and formality that goes into choosing and purchasing a two-wheeler Insurance policy.

We offer long-term products and services related to two-wheeler/bike insurance. We also advise you to compare various bike insurance and check out their advantages too. Usually, our customers prefer comprehensive two-wheeler insurance due to its advantages.

8. Is Chola MS certified?

Chola MS General Insurance Ltd. has been in the industry for years, aiming to provide customer support and high-quality services. All our services are ISO certified, and we've also been recognised for our efforts many times.

9. How can I renew my insurance online?

You simply have to log onto the website and enter your details, i.e. vehicle registration number. After this, you have to select your choice of an along with your specific needs and pay! You'll get the further details in your email too!

10. What are the different types of insurance policies available?

There are usually two types of insurance policies that a two-wheeler owner can opt between, namely liability only insurance and comprehensive insurance.

Liability only insurance is basically third-party insurance. Due to this, the vehicle owner gets protected from any type of accidents that are caused by third-party liability. It covers third-party injuries, death and property damage.

Now, the comprehensive insurance plan protects your vehicle from accidents, theft, damages, natural disaster-related damages as well as man-made. It usually also contains special protection, i.e.personal accident cover, which protects the vehicle owner during any accident

11. Why do I need a bike insurance policy?

The government of India has made it mandatory for every person who buys a bike or any two-wheeled vehicle to have bike insurance. Below are a few reasons why this mandate is in place.

Expenses after accidents: Accidents might result in vehicle damage or personal injury, and sometimes, even the loss of life. Under such circumstances, the loss of a huge amount of money is inevitable, given that one has to spend money for the repair of the vehicle and the medical treatment in case of injuries. The company can bear all these repair expenses and the treatment amount, and thus, keep you from getting a hole burnt in your pocket.

Cover for natural calamities: If there is any loss or damage that occurred to your bike during the event of some natural calamity like floods, earthquakes, tsunami, fire, explosions, etc., you can make claims for the insured amount. This is because these circumstances are also covered under the bike insurance by us.

Financial safety net: A majority of bike owners are people with limited resources. They don't belong to a very creamy layer of society in general. Thus, such sudden damage and expenses can be a serious problem for them. Having bike insurance ensures that they don't have to be burdened by the unforeseen expenses arising as a result of theft or accident of their bikes.

Third-party damage cover: With the provision of third-party bike insurance, a person can file for the damages that occurred to the other vehicle or person (the third party) who was involved in the accident.

12. What happens to my No Claim Bonus while renewing an expired two wheeler insurance policy?

No Claim Bonus has its validity upto 90 days from the expiry of the previous policy date. Now, if you do not renew the insurance policy within 90 days of its expiry, the no claim bonus becomes zero and then on the renewal of the policy, there isn’t any no claim bonus that will be passed on as you will no longer be eligible.

13. How can we claim for the insurance amount if the vehicle is stolen?

Start by filing FIR with your local police station, or any police station which is nearest to you in a situation where you are travelling. Next, submit the photocopy of the FIR along with other documents, the keys of the bike and a non-traceable certificate for the bike, to the insurance company.

Now, you can claim for a full IDV amount in case the bike is stolen. It can also be claimed if there are some sorts of natural calamities or man-made disasters. 

14. What are the documents which are required while making a claim for the insurance money?

The documents which are to be submitted during the time when you are claiming for the insurance amount, is generally listed in the policy document itself. However, to give you a brief idea about it, here is the general set of list which is required to be produced before the insurance company while making any claim.

● A claim form which is filled properly. (it is advised that you keep a xerox copy of the form with you before submitting the original)

● A photocopy of the vehicle registration certificate along with the original for the purpose of verification.

● An authentic approximate evaluation of the loss or damage. ( Ensure that you make an extra copy of this too and keep it with you)

● The receipts of the payment and the repair bills. ( a photocopy of each is to be kept with yourself too)

15. Is there a provision of cancellation of bike insurance policy?

No, a bike insurance policy can not be cancelled until and unless there is some genuine case, and the cancellation was filed for within the first month from the date of purchase of the policy. Some examples of ‘genuine cases’ which will be considered by the insurance policy are; when you end up purchasing two policies for the same vehicle or if you are in ownership of a commercial vehicle but somehow ended up purchasing a private vehicle policy, etc. Now, there is no charge for the cancellation of the insurance policy, but it has to be filled for cancellation with a reason which shall satisfy the insurance company to be genuine enough for the cancellation privilege.  

16. If I sell my bike, can I transfer the insurance to the new buyer?

Yes. You can transfer your existing two-wheeler policy to the new owner of the vehicle insured. However, you will need to be proactive about this step for a smooth process, as there is a specific time limit for this. The point to be noted here is that the premium remains the same even after the transfer. Furthermore, NCB accumulated by the original policyholder remains invalid for the new owner. The new policyholder will need to wait until specified time to accrue NCB benefits.

1. Which documents are considered while purchasing insurance online?

All you need is your two-wheeler vehicle registration number, the policy number of your existing insurance policy, and you're done!

2. Is vehicle inspection important?

It is usually important when you opt for a comprehensive/standard vehicle insurance policy or when you renew your policy after the expiration date once the inspection gets done, the coverages and adds, as are applicable.

3. Is it possible to get two-wheeler insurance without an inspection?

While it is usually not possible to skip inspection when getting bike insurance, it is possible to avoid this step if you bought the policy online.

4. What happens if the vehicle is stolen?

In such cases, you simply have to file an FIR with your local police station and submit the Xerox of the same after a month of reporting. Along with this, you have to carry a filled claim form, Xerox of vehicle RC, with the original payment receipts. Usually, you'll be able to claim the full IDV amount.

5. Can I transfer my existing Insurance policy to my new vehicle?

Yes, for when you purchase your new vehicle all you have to do is inform your insurer (or us) and you can transfer your existing insurance along with retention of your NCB.

1. What exactly are add on covers?

Add-on covers are additionally demanded and paid overs that provide extra coverage to your vehicle. The insurer can add as many add-ons as he/she may want and pay the increased premium for the same.

2. How does the return to invoice cover work?

It's an add-on cover that is designed to cover the amount gap between the insurance Declared Value and the invoice value of your vehicle plus the registration and other taxes This helps you in covering the complete cost in case of theft or total loss of your vehicle.

3. What isn't included in the two-wheeler insurance policy cover?

Normally, these are the instances where you won't get insurance claim/cover-

A) Driving under influence

B) Driving without license

C) Normal damage and wear and tear

D) Theft/loss of accessories

E) Damage caused by wilful negligence

F) Damage occurred outside of national boundaries

4. How is the cost for different types of components calculated?

In these cases, the cost of different accessories is calculated by looking over at the invoice copy of them that is submitted during policy application. The same value is then adjusted according to the appropriate depreciation during every renewal.

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Rajkumar

18 September 2021

Very good product

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18 September 2021

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18 September 2021

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17 August 2021

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17 August 2021

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17 August 2021

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Chola - More things to know about two wheeler insurance Content

More Things to Know About Two Wheeler Insurance

The following is all the additional information that there is to know about Two Wheeler Insurance policies to help you make an informed decision regarding yours.

Chola - What is NCB or No Claim Bonus 2 Wheeler Insurance Content

What is NCB or No Claim Bonus?

A No Claim Bonus is kind of an additional reward given to the insurance company to the policyholder. This is to ensure safe driving. It is some amount of money given to the insured if he/she hasn't raised any claim during the previous policy year.

This is awarded to the insured when he/she goes for policy renewal and is offered on the insurance premium amount. Usually, while buying a policy, the NCB is also considered since it reduces the amount payable.

Why is NCB important

  • This technique has been implemented to encourage safe driving amongst all ages and vehicles. Some of the benefits are-
  • Appreciating the owner As mentioned above, this is used as a trick to encourage the excitement towards safe driving by offering some amount to the policyholder.
  • Transferable This amount is transferable since it is given to you and not your existing vehicle. You can easily transfer it while purchasing a new vehicle or even if you change insurers at the time of renewal.
  • Premium Reduction NCB helps in such a way that it will reduce your insurance plan to a decreased rate, helping you save money.

How is it calculated

  • Usually, you'll be offered a 50% claim on your premium amount, provided that you don't make a claim.
  • You can always check with your insurer, but normally it's calculated by a consecutively increasing percentage of premium reduction. They all combine to make slabs for different claim-free years.
  • The amount increases depending on the number of years you've owned the bike and if you have not made a claim.
  • The NCB becomes invalid in cases where claims are raised or if you haven't renewed your policy within 90 days of the expiration date.

Make sure you keep this in Mind

  1. Always renew your policy in time. If you fail to do so, your earned NBC will be dissolved, resulting in no discounts.
  2. You absolutely cannot share the NBC amount earned between two different policies. It works on just policy at a time.
  3. Ensure that you complete your insurance tenure, or you have the chance of losing your earned NBC.

Chola - The benefits and importance of buying a two-wheeler insurance policy Content

The Benefits and The Importance of Buying a Two-Wheeler Insurance Policy

The belief that it is better to be safe first than to be sorry later usually drives people to purchase insurance policies, and insurance for two-wheelers is no different. The following list is the answer to what a person gets out of these insurance policies.

Protection against persecution for law violation

The Motor Vehicles Act mandates that every vehicle must have insurance to legally run on Indian roads. The compulsory insurance could be a third-party bike insurance policy, and it would suffice. Not following this rule can lead to having to pay hefty compensation, and repeated offences can result in serious legal ramifications.

Any person can be asked randomly to show their insurance paperwork at any police checkpoint. Earlier, this paperwork needed to be strictly a hard copy of pages, printed and signed duly. However, as people turn more towards cashless and paperless services, the police have also changed their ways and now recognise the validity of digital documents.

Financial Aid for Damage Repairs

Road accidents tend to take people by surprise, and this surprise is never remotely good. There are several kinds of damage repairs that can be needed as a result of these accidents, which do not come cheap. Most owners of two-wheelers do not possess the financial resources to pay for a damage repair all of a sudden.

Moreover, even the people who do have the resources would prefer that they do not have to pay out of their pocket if such an option exists. This is where comprehensive insurance swoops in to save you.

The mandatory third-party two-wheeler insurance only saves you from having to pay for someone else's repair bills, not your own. Having comprehensive insurance will enable you to pay for damage repairs and even complete replacements in the case of thefts or loss.

These accidents can be a result of natural calamities like earthquake, flood, landslide, etc., or be the results of the actions of men like vandalism, theft, road accident, fire, etc.

Financial security under the personal accident cover

Due to the great number of two-wheeler vehicles running on Indian roads, it has been prudently made mandatory to own a personal accident cover with a bike insurance policy. Two-wheelers are generally considered more dangerous because the riders of two-wheelers are exposed to a much higher risk than car drivers.

Accidents involving two-wheelers are known to have dire consequences for the rider. Such consequences include dying on the accident site, being left paralysed partially or completely, incurring permanent injury, or loss of a body that results in becoming crippled. The personal accident cover can help pay for your medical expenses as well as makeup for the loss of income to some extent.

Peace of Mind

The most important thing your insurance policy will get for you and your family is peace of mind and a sense of security. The simplest form of vehicle insurance, third-party insurance, is enough to give you a sense of security, knowing that you can avoid legal persecution of the counts of violating the Motor Vehicles Act as well as damaging another person's property and failing to pay the due compensation.

Having comprehensive two-wheeler insurance with a personal accident cover can further put worrying minds at ease. Knowing that you can still take care of your family if something unfortunate happens to you or that you will not have to spend a big chunk of your hard-earned savings on a bike repair or replacement. Furthermore, several other add-on riders can be added to the policy according to the policyholder and what they need and want.

Chola - Advantages of buying or renewing two-wheeler insurance Content

Advantages of buying/renewing two-wheeler insurance online

During and after the pandemic, every business and service has emerged fully on the online platform. Of course, this comes with both advantages and disadvantages. But the overall picture has improved, and more and more people everyday use online services to their benefit. You can do the same for renewing the bike insurance.

Do not break the Law

The law states that if you have a vehicle in your possession, then you must take an insurance cover so that it might help you when the need arises. The Chola MS two-wheeler cover acts as a shield for you and saves you from penalties and fines that are applicable if you do not have an insurance policy cover. You should be aware of the ending date of the insurance so that you can renew it at the earliest.

Save your precious time

Most of the services have cropped up online to save time for people. Many consider it a waste of time to go and renew a two-wheeler insurance policy. But renewing an insurance policy has become a child's play now. You just have to go online and get in touch with an agent of Chola MS. Know all the options and decide for yourself which policy will be most beneficial for you and take it up in no time.

Multiple options available

When going through our website, you can notice a wide variety of policy options available for the customers to choose from. The insurance policy differs in range, types of services included, and they are easily comparable online. You can renew your insurance policy easily from your laptop or computer at home. Interact with our agents to know about the discount and offers that you may be entitled to.

Select the best policy by comparing

When in doubt between two insurance policies, comparing is the best and efficient way to know which one will be the perfect insurance cover for you. Online comparison is very easy, and you can compare the services each policy enlists to know which one will be better for you.

Extremely convenient process

Renewing insurance might seem time-consuming and a lot of paperwork. But renewing the insurance online is nothing like it. We value your time, and for your convenience, we have made our website easily navigable so that you can spot what you are looking for in a matter of a few minutes.

We offer a 24 x 7 service, which will help you to renew the policy anytime you feel comfortable. You don't have to take out time from your daily schedule and go to the office, wait for your turn, or handle the paperwork anymore. The transaction is also done online in a safe environment.

Get instant service

Going to the office and waiting for your turn might take up a lot of time and urge you to delay the renewal of the insurance cover. But our online service has eliminated this process. Now you can enjoy our undivided attention to your cause and interact with our agents instantly and whenever you require. Get your queries cleared in a matter of time and renew your policy as soon as possible.

Renew two-wheeler insurance policy instantly

With the expiration of your bike insurance policy, you must renew the policy instantly without waiting. While the online portal has made the work easy, this does not mean that it will still take that amount of time like in an offline process. The online methods are far faster and easier to complete. After filling in the information required and selecting the required policy, your insurance will be renewed in no time.

Save a considerable amount of money

By comparing different policies online, you will certainly save up a considerable amount by choosing the effective policy to renew. You will also save the transport fare that might be spent if you have to go to the office. Whilst sitting in your office or home, you don't have to spend even that much. No middle agent is present who can charge an expensive fee for their services. You can get in touch with our bike insurance agent directly and select the options that you need directly.

Chola - How to Calculate two wheeler Policy Premium?

How to Calculate two wheeler Policy Premium?

Calculating the amount of premium for your bike insurance policy is an important factor in making the right decision for a two-wheeler insurance policy. We are aware of the fact that along with the services, the premium amount is also very crucial. For you to make a good decision, calculating a bike policy premium is very important. But what are the methods and the factors involved in it?

Yes, there are some factors such as make, model, purchase of the bike and many more required to do the calculations for the ike premium policy. There is a calculator present in which you have to put in the details of your bike and other required information, and it will calculate that amount, save time, and give you accurate results. The calculations are done online, so no paperwork is required.

This will help you to make the right decision and save a considerable amount of money. Due to this calculator, there is no use of a middle agent. This will give you enough time to make decisions on your own. If not for the calculator, you have to rely on the middle agents to know the premium value, and even that is never very accurate.

The middle agents take up a lot of time, and you have to pay them too for these small but vital tasks. The policy premium calculator removes the necessity of the middle agent and gives you accurate results in no time. This saves a lot of time and your hard-earned money.

For the results, you just have to enter some information in the calculator, and the result will be calculated in no time. The details to be entered are

  • Status of your bike/Scooter insurance policy(active or inactive )
  • Registration number of your bike
  • Make of your bike
  • Model of the bike
  • The variant of the bike
  • Manufacturing details: The number of years since the bike has been manufactured is important as older bikes have low IDV or Insured Declared Value, and so the result is a lower premium.
  • RTO Details
  • Insured Declared Value or IDV
  • Fuel type
  • KYC details
  • Date and place of registration
  • Date and place of registration
  • The capacity of the engine helps in evaluating the premium amount of the insurance policy.
  • The age of the rider is important because, for the younger riders, the premium value will be greater.
  • The location of the person is important because a person living in an accident-prone area will have a higher premium than others.

    There are two kinds of policies for the calculation of the premium amount:

  • Comprehensive policy: This policy covers the damage to the bike as well as the damage caused to the third party if involved due to the owner's bike.
  • Third-Party policy: This policy will cover all the damage to the third party by the owner's bike.
  • Own-Damage policy: This policy only covers the damage caused to the bike and not to any other party involved.

    At Chola MS, we value the comfort of the customers and see that they get all the facilities they need without much hassle. We have the third 'T' that stands for technology, and we make sure to implement the new technology for your benefit. We have the virtual calculator for the customer's benefit. You have to put in these values to know the accurate amount of the premium policy; then, you can make the right decision and choose the two-wheeler insurance policy by Chola MS that suits you the best.

Chola - The key features of two-wheeler insurance Content

The key features of Chola MS two-wheeler insurance

It has always been our solemn promise at Chola MS to always safeguard your interests. The following are the key features of our two-wheeler insurance services.

Safeguard the vehicle

One of our most helpful features is coverage for your own damage which enables you to pay for the damages incurred to your vehicle. The said damages could be caused by a variety of reasons, including natural calamities like cyclones, earthquakes, lightning strikes, and floods.

Other reasons could be road accidents, accidents while the vehicle is in transit on the road, rail, lifts, or inland waters. Furthermore, damages by fires, thefts, and loss of property due to other man-made circumstances like damages incurred during a riot or protest, terrorist strike, or another malicious act like vandalism.

A network of cashless garages

To make sure we assist you as much as we can wherever you go, Chola MS has a network of garages associated with us where you can go and easily avail cashless services according to the terms of your two-wheeler insurance policy with us. This service is open for Own Damage Insurance policyholders as well as third parties that need repairs for which we are liable to pay.

Quick and easy claim settlement Procedure

Our claim settlement procedure is extremely easy to understand and even easier to follow. You can find the step-by-step guide at our website, email us, call us and talk to a customer support executive, or simply walk into one of our many offices anywhere in the country. Whatever option you may choose, we can promise a prompt response.

Chola - Why should you choose Chola MS two-wheeler insurance Content

Why should you choose Chola MS two-wheeler insurance?

We value the trust our customers' place in us above everything else. It is one of the things that drives us to offer unmatched services to our esteemed customers. But offers of the other companies for the same service might be tempting too. Then what are the factors that distinguish us from the others? Why should you choose Chola MS two-wheeler insurance above so many options?

Look through the points listed below and make your choice wisely.

Total transparency

At Chola MS, we offer complete transparency of the policy and insurance. Whenever you are buying or renting any service, you should be fully aware of the terms of the agreement. Even with the two-wheeler insurance, it is the same. We consider it as our responsibility to fill in the customer with all the proceedings and the working of our service, bike insurance in this case.

Long term products available

The two-wheeler insurance from Chola MS comes equipped with long term products for your two-wheeler. Since it is deemed compulsory by the law itself to take up insurance for your two-wheeler, you must compare the bike insurance of the other companies and see the multiple advantages of our policy. Comprehensive two-wheeler insurance is an optional product that is available under this insurance.

Unmatched add ons

Add ons or additional covers or supplements are the extra elements given to the insuranceto increase its value a little bit more. Let's put it this way; you decide to host a birthday party for your friends and the manager of the hall you booked gives you a music room for free that night. This extra service is useful when it comes to a party. You will book that hall again for some other event because it provides you with the necessary elements without having to pay for it.

You will love this go to the same shop again because of the already improved service. We offer some useful add ons for the two-wheeler that might tempt you to choose our policy over the others. These additional covers are extremely useful with the insurance cover of your two-wheeler.

Return to invoice

This adds on covers the payments of showroom value of the bike, registration fee, and road tax. Accidents happen that may damage your bike beyond repair. It is very frustrating and troublesome and causes a big dent in your pocket. This add on is very useful in these types of cases where it refunds the whole amount mentioned in the invoice.

The payable amount also includes the insurance that you have paid for the existing policy. This is valid for up to 5 years starting from the registration date. You can claim for this additional cover only once in the policy period.

Full depreciation waiver

There will be no deduction for depreciation, and in the event of small accidents, the replacement of the parts of the two-wheeler will be paid in full. This is valid for up to 5 years, starting from the registration date. You can claim for this additional cover twice in the policy period.

Daily cash allowance

As the name itself gives away the role of this add-on, ₹250 to ₹750 is allowed daily to the financier of the two-wheeler. The daily allowance is given for only five days in the policy term, and this is valid for up to 10 years starting from the registration date.

Chola value-added services

This add on is very useful and important as it covers the services and assistance that you might require in an emergency, such as when you meet with an unfortunate accident or your two-wheeler breakdowns in the middle of nowhere. Some of the roadside assistance services are breakdown support over the phone, flat tyre support, easy on-site repair, battery jump-start, towing of the two-wheeler, send urgent messages, supplying taxi, and fuel delivery.

The financier of the two-wheeler can call for support to Chola MS in case of emergency or any type of breakdown of their two-wheeler. The customers have to provide some details for the verification that includes name, two-wheeler insurance policy number, model and registration number of the two-wheeler, location of the customer, and so on. Our services are given 24 x 7.

ISO certification

We have years of experience in providing insurance covers to the customers and fulfilling those services. Our policies and insurance are ISO Certified because we are true to our word. We have received several awards for providing our good services to the people of India.

Claims are supported fully

Unfortunate situations arise, and huge losses are suffered by the people involved in the situation. We give our full support and assistance at the time of claims when these accidents happen, and we will take care of the losses you have to bear due to these unfortunate events.

The claiming methods are small and easy, and after the claims are made, everything is taken care of. You can also claim by using the mobile by sending a form for the same. The transfer of funds is done immediately after the verifications are done.

Comprehensive Bike Broacher