From third party to own damage and personal accident cover, Chola MS Private Car Insurance Policy offers a truly comprehensive plan that gears you up for a secure, worry-free future. Hassle-free settlement procedures and maximum financial coverage are just some of the many other benefits that come with purchasing Chola MS Comprehensive Private Car Insurance Policy.
Benefits
- The wide ranging benefits you enjoy when you buy car insurance from Chola MS.
- A complete comprehensive cover that offers both “Third Party Cover” and “Own Damage Cover”
- Third Party Liability Cover – Personal Liability & Property Liability
- Personal Accident Cover – for both owner – driver and passengers
- Protects your vehicle from losses or damages due to accidental external means, burglary, theft and various other perils
- Discount on OD (Own Damage) premium for claim free policy years – No Claim Bonus
- Optional cover for personal accident cover of up to RS 2 lakhs for other passengers in your car
- Cashless claims facility available at over 400 Chola MS preferred garages
- Seamless and hassle-free claims process
- Online car insurance buying facility with simple, hassle-free procedures
- Quick and easy online insurance renewal process
What does it Cover
- Third Party Personal Liability
- Third Party Property Damage with a maximum cover of RS 7, 50,000 in case of Private Cars.
- Own Damage
- Personal Accident Cover
- Fixed Daily
- Reinstatement Value to ensure maximum claim benefit – Full Car Investment Security
- Cover for Personal Belongings and Clothing
- Reimbursement of cost towards obtaining a duplicate Ignition key
- Compensation for obtaining duplicate license
- Coverage for Road Tax and Registration Charges
- Chola Assistance for Roadside Emergencies – CARE 24×7 for spot
What it does ot Cover
- While Chola Protect Insurance policy for private vehicles, offers you an array of superior benefits, it’s good to know what it does not cover.
- Accidental loss or damage suffered while driving under the influence of intoxicating liquor or drug
- Accidental loss or damage caused due to willful negligence
- Loss or liability while the vehicle is used outside the scope of limitations of use and / or being driven by a person not duly licensed
- Consequential loss, depreciation, wear & tear, mechanical & electrical breakdown / failure of breakages
- Loss due to radioactivity or nuclear weapons
- Loss due to war and related activities
Sum Insured
The Insured’s Declared Value (IDV) of the vehicle will be deemed to be the ‘Sum Insured’ for the purpose, which is fixed at the commencement of each policy period for the insured vehicle. The IDV of the vehicle is to be fixed on the basis of manufacturer’s listed selling price of the brand and model as the insured vehicle at the commencement of insurance / renewal and adjusted for depreciation.
The schedule of age-wise depreciation is shown below and is applicable for the purpose of Total Loss / Constructive Total Loss claims only.
Age of the Vehicle % of Depreciation for fixing IDV
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%
