CholaMS Motor Insurance

Insurance of motor vehicles plying on road is mandatory under the Motor Vehicles Act. All kinds of vehicles- Private Cars, Goods Carrying Commercial Vehicles, taxies & other passenger carrying vehicles, tractors & other miscellaneous classes of vehicles, TwWheelers can be insured under the Motor Insurance Product.

Scope of Cover-What is Covered?

Motor Insurance covers the unforeseen risks which may result in:-

• Creation of Liabilities (called generically as Third Party Cover)
• Injuries/ Death of persons outside or inside a vehicle. This could be the owner, passengers, driver, pedestrians etc.
• Damage to property of others- also called as Third Party Property Damage
• Partial damage to the vehicle itself. This may arise due to accidental external means, riot, strike, malicious act, fire, flood, cyclone etc.
• Theft of parts or theft of the vehicle itself
• Total loss/ damage of the vehicle

Compulsory Personal Accident (CPA) cover for Owner-driver

• The CPA cover offers compensation up to Rs.15 lakhs for Accidental Death / Disability of the registered Owner of the Insured Vehicle whilst driving or alighting into / out of the Vehicle.
• The registered Owner should hold an effective driving license

Key requirements for acceptance:-

• Proposal form
• Valuation report (where applicable)
• Renewal notice copy (in case of an insurance renewal)
• Break in Insurance Inspection report if there is a break in insurance or there is no past insurance
• Copy of RC book/ Invoice Copy (where applicable)

Claims Procedure

• Inform Chola MS customer care on a toll free number 1800 208 5544 and register the claim
• Please provide policy number, driver details, incident details, location of accident, details of damages etc. to the customer care executive
• Safeguard self and try to prevent further damage to the vehicle by taking appropriate action
• In case of 2 wheeler, there is no need for spot survey. For other vehicles it is needed
• Spot survey where applicable will happen in 6 hours
• In case there is no Third Party Losses- no need for police intimation
• Once estimate for loss is obtained from garage, please inform for final survey by Chola MS loss assessor
• Please provide the details/documents as requested
• Once repaired, reinspection is done where required. Our assessor will guide customer on this
• If cashless facility is availed, satisfaction certificate to be provided for Chola MS to settle with garage

Key documents required for Claims Settlement

• Filled Claim form
• RC book
• Policy Copy
• Original Bills and Cash Memos
• Driving license of person driving the vehicle at the time of accident
• Fitness , Permit & Load Challan (where required)
• FIR & Final Investigation Report (where required)
• In case of theft- not traceable certificate and original keys
• Any other document required by claims team

What is not covered- Some key exclusions:-

Some key exclusions of the motor insurance are:-

• Accident while the person driving is under the influence of intoxicating liquor or drugs
• Consequential loss. Eg. Loss of profit due to inability to use a commercial vehicle following an insured accident
• Depreciation, wear & tear etc., unless specifically covered
• Mechanical & Electrical breakdown Eg. Steering jamming claims, suspension alignment etc.
• Accidents when private vehicle is used for commercial purposes (hire or reward). This could include private vehicle for carriage of goods or passengers for hire
• Compulsory deductible in insurance
• Damage while vehicle is used for speed testing or organized racing