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Cholamandalam MS General Insurance

Give your car the protection it deserves

About Cholamandalam MS General Private Car Insurance

    AU Small Finance Bank has partnered with Cholamandalam MS General Insurance Company Ltd to bring to you one of the best motor insurance product. Secure your vehicle with a good motor insurance policy to make sure your vehicle stays safe and secure against any unfortunate event and your expenses are completely covered in the wake of any such incidents.

1. What are the benefits of comprehensive car Insurance policy?

  • 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 5300+ 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

2. What does it cover?

Chola MS Motor Insuranceprotects 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 Damagewith a maximum cover ofINR 7,50,000, in case of private cars.
  • Own Damage Cover protects against the 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:


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 or INR1,000 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 as replaced 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 is INR10,000

Reimbursement of expenses towards obtaining a ignition key

up to a maximum of INR 1,000, following the loss of the original ignition key

Compensation for obtaining duplicate license

(fixed sum of INR 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


3. What car insurance does not cover?

The Chola insurance policy for private vehicles does not cover the following:
  • Accidental damage or loss due to willful negligence
  • Accidental loss or damage if you are driving under the influence of intoxicating liquor or drug
  • 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, depreciation, wear & tear, mechanical & electrical breakdown / failure of breakages
  • Loss due to nuclear weapons or radioactivity
  • Loss due to war and related activities

4. What is Sum Insured?

  1. 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.
  2. 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
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

5. What is no claim bonus?

  1. Vehicles other than Motor Trade Policies.
  2. NCB is to be allowed only when the vehicle has been insured continuously for a period of 12 months without any break.
  3. NCB can be allowed only when a policy is renewed within 89 days of the expiry of previous policy.
  4. No Claim Bonus, wherever applicable, will be as per the following table.
Period of Insurance
% of NCB on OD premium
The preceding year
20 %
Preceding Two consecutive years
Preceding Three consecutive years
Preceding Four consecutive years
Preceding Five consecutive years

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