Cholamandalam MS Chola Protect - Private Car Package Policy
Cholamandalam MS General Insurance Company Ltd.
Cholamandalam MS General Insurance Company Ltd. is a Joint Venture between Murugappa Group and Mitsui Sumitomo Insurance Group of Japan. Cholamandalam MS offers a wide range of products that include Accident, Engineering, Health, Liability, Marine, Motor, Property, Travel and Rural insurance for individuals and corporate.
Contact Details
Toll Free Number- 1800-200-5544
SMS “CHOLA” - 56677
Website - www.cholainsurance.com
E-Mail - customercare@cholams.murugappa.com
Product Overview of Cholamandalam MS Chola Protect - Private Car Package Policy
This is a comprehensive package policy which covers the damage to the vehicle and any third party coverages like bodily injury/death & property damage.
Unique Features of Cholamandalam MS Chola Protect - Private Car Package Policy
The product offers 7 different types of add-on coverages.
Exclusive discount offers for Motor Insurance Policy holders at selected Pharmacies and leading diagnostic centers.
Product Benefits for Cholamandalam MS Chola Protect - Private Car Package Policy
- This policy covers against any loss or damage caused to the vehicle or its accessories due to insured perils under the policy schedule.
- Claim is payable when there is visible external damage due to the following causes
| Manmade Causes | Natural Causes | |
|---|---|---|
| Accident by external means | Flood | Rockslide |
| Theft | Fire | Inundation |
| Burglary | Self-Ignition | Explosion |
| Strike | Earthquake | Typhoon |
| Riot/ Terrorist Activity | Cyclone | Hurricane |
| Malicious Act | Landslide | Tempest |
| damage in transit | Storm | Hailstorm |
| Lightning | Frost | |
- This policy covers any third party liability including property damage.
- This policy covers Personal Accident for the Owner/ Driver.
- On payment of extra premium, the policy also covers Personal Accident Benefit for the passengers and legal liability of the paid driver.
Add-ons for Cholamandalam MS Chola Protect - Private Car Package Policy
There are 7 types of ADD ON covers available in this plan along with Comprehensive Road Side Assistance Services.
Key Info- These features are applicable only when the repair is carried out in Cholamandalam MS network garages.
- Zero Depreciation
- Reinstatement Value Basis (RVB) of Fixing Vehicle Sum Insured
- Daily Allowance
- Cover for Personal belongings and Clothing
- Reimbursement of Cost of Duplicate Ignition Key
- Loss of Original Driving License of Light Motor Vehicle ( Non Transport) by Insured
- Monthly Installment Cover
Key Info- These features are applicable only when the repair is carried out in Cholamandalam MS network garages.
Add-On Details for Cholamandalam MS Chola Protect - Private Car Package Policy
Under this policy, the company will pay the insured against loss or damage to the parts subject to a deduction of depreciation in respect of the parts replaced in the event of an accident.
Under this add-on, the company will insure the vehicle and declared accessories on reinstatement basis. Reinstatement Value Basis shall be treated as the ‘Market Value’ throughout the policy period without any further depreciation for the purpose of Total Loss (TL) / Constructive Total Loss (CTL) claims.
b) Maximum liability of the company will be restricted to the invoice value of the vehicle insured.
c) All paid claims are subject to compulsory deductibles and voluntary deductibles (if applied).
Specific Conditions:
a) This benefit is available only for brand new cars and for first year renewal of a brand new car provided there is no interruption in insurance period.b) Maximum liability of the company will be restricted to the invoice value of the vehicle insured.
c) All paid claims are subject to compulsory deductibles and voluntary deductibles (if applied).
Under this add-on, the company will pay a fixed allowance per day as per the option exercised by the insured. This benefit is applicable during the period of non- availability of insured vehicle due to partial loss claim. The eligible number of days will be computed from the date vehicle reaches the garage for repair to the date of delivery of repaired vehicle or the maximum eligible period as opted by the insured person whichever is lower.
b) Maximum eligible number of days is 5 for one claim and is also the overall limit for the total policy period.
c) The Insured vehicle should take more than 3 days to get repaired.
Specific Conditions:
a) The fixed allowance per day will be Rs. 500 or Rs. 1000 as per the option chosen by the insured.b) Maximum eligible number of days is 5 for one claim and is also the overall limit for the total policy period.
c) The Insured vehicle should take more than 3 days to get repaired.
Under this Add-on, the company will reimburse market value of clothes and personal belongings for the loss or damage caused by fire burglary or accidental external means whilst they were inside the insured vehicle or locked inside the boot.
b) Amount of compensation will be decided based on the market value of the item lost on the date of loss.
c) Maximum of only 2 (Two) claims will be entertained under this cover in a policy period.
d) The liability of the company will be restricted to Rs.10, 000/- per claim and for the policy period with a compulsory excess of 10% of the net assessed amount or Rs.500/- whichever is higher for each and every claim.
Specific Conditions:
a) Laptop, I-Pod, electronic items, mobile phone, jewelry, cash, cheque, stamps, curios, work of art, paintings and other valuables are excluded from this insurance cover.b) Amount of compensation will be decided based on the market value of the item lost on the date of loss.
c) Maximum of only 2 (Two) claims will be entertained under this cover in a policy period.
d) The liability of the company will be restricted to Rs.10, 000/- per claim and for the policy period with a compulsory excess of 10% of the net assessed amount or Rs.500/- whichever is higher for each and every claim.
Under this add-on, insured is eligible for a reimbursement of cost for obtaining duplicate ignition key of the insured vehicle if original is lost.
b) The claim is subject to submission of the following papers:
I) Duly acknowledged copy of report filed with the Police Authorities.
II) Original bills for expenses incurred to obtain the duplicate key from the key-maker / manufacturer.
Specific Conditions:
a) The total amount payable will be restricted to a maximum of Rs.1,000/- (Rupees One Thousand Only) and only one claim is eligible in a policy period.b) The claim is subject to submission of the following papers:
I) Duly acknowledged copy of report filed with the Police Authorities.
II) Original bills for expenses incurred to obtain the duplicate key from the key-maker / manufacturer.
Under this add-on the company would pay a fixed amount of Rs. 500/- (Rupees Five Hundred Only) to obtain the duplicate license if your original driving license is lost by the Insured due to any reason.
b) This is subject to submission of the following papers:
I) Duly acknowledged copy of Report filed with the Police Authorities.
II) Copy of the receipt obtained on payment of fee to the Transport Authority for getting duplicate license
III) Copy of the Original Driving License
IV) Copy of the Duplicate Driving License.
V) Self-declaration that no claim has been made for the same loss with any other Insurer.
Specific Conditions:
a) Only one claim is entertain- able in a policy period.b) This is subject to submission of the following papers:
I) Duly acknowledged copy of Report filed with the Police Authorities.
II) Copy of the receipt obtained on payment of fee to the Transport Authority for getting duplicate license
III) Copy of the Original Driving License
IV) Copy of the Duplicate Driving License.
V) Self-declaration that no claim has been made for the same loss with any other Insurer.
Under this add on, the insured will be covered for non-payment of regular Monthly Installment (EMI) to the financier of the Insured vehicle as mentioned in policy schedule due to an accident involving the insured vehicle. The repair has to take minimum 16 days .If the repair is taking more than 15 days to 30 days then company will pay 1 EMI and if the repair is taking more than 30 days to 60 days then company will pay for 2 EMI.
B) Insured Vehicle has to be repaired in a garage authorized by the Company.
Special Conditions:
A) Claim under section 1 (Own Damage Cover) for accidental damages should be an admissible claim.B) Insured Vehicle has to be repaired in a garage authorized by the Company.
Specific Conditions:
Company is not liable to pay for any arrears or over-due installment amount including interest prior to the date of accident.Additional discounts for Cholamandalam MS Chola Protect - Private Car Package Policy
NIL
Exclusions for Cholamandalam MS Chola Protect - Private Car Package Policy
- Normal Wear and tear and general ageing of the vehicle.
- Depreciation or any consequential loss.
- Mechanical/ Electrical breakdown.
- Vehicle being used otherwise then in accordance with limitations of use.
- Damage to or by a person driving the vehicle without a valid license, under the influence of drugs or liquor.
- Damage due to war, mutiny or nuclear risk.