Chola MS Commercial vehicle insurance

Introduction on Chola MS Commercial vehicle insurance

Chola MS Commercial vehicle insurance is an insurance type in Cholamandalam MS General Insurance. Cholamandalam MS General Insurance Company is a joint venture between the Murugappa Group of India and the Mitsui Sumitomo Insurance Company of Japan. The Murugappa Group is one of India’s largest industrial houses headquartered in Chennai.  Chola MS Commercial vehicle insurance is a very famous and popular insurance type. Thousands of people trust Chola MS Commercial vehicle insurance to protect their Commercial vehicles like school buses, goods carrying vehicles, cranes etc against physical damages, third party injuries and liabilities.

Chola MS car insurance provides a toll free helpline number accessible 24 X 7 X 365, which is completely interactive and user-friendly website which makes Chola SM accessible from anywhere in the world. Chola MS is the first Private Insurance company in India to get the ISO 9001:2008 for the Motor Claims division. Chola MS car insurance is the first motor insurance type which got ISo certified

Chola Commercial Vehicle Insurance is a one-of-its-kind motor insurance policy designed to especially protect vehicles that are not used for personal purposes.

The vehicles covered under this policy include:

• Passenger Carrying Commercial Vehicles: School Buses, vans, taxis, etc.
• Goods Carrying Commercial Vehicles: Trucks, mini trucks, etc.
• Tractors
• Miscellaneous Vehicles: Excavation, Cranes, Loader, etc.

Key benefits and features of Chola MS Car Insurance

• For 24×7 spot assistance call 1800-103-5354 / 1800-209-5354.
• Chola MS Car Insurance provides covers both Third Party Cover and Own vehicle Damage Cover.
• Third Party Liability Cover that includes third party Personal Liability & Property Liability.
• Personal Accident Cover for the owner, driver and passengers.

PERSONAL ACCIDENT COVER FOR OWNER-DRIVER

Nature of injury	Scale of compensation
(i) Death	100%
(ii) Loss of two limbs or sight of two eyes or One limb and sight of one eye.	100%
(iii) Loss of one limb or sight of one eye	50%
(iv) Permanent total disablement from Injuries other than named above	100%

• Protection for your vehicle against damage or loss due to accidents, external means, theft, burglary and various other causes.
• Chola MS Car Insurance provides No Claim Bonus.
• Cashless claims facility available at more than 400 Chola MS preferred garages.
• Chola MS commercial vehicle Insurance provides Seamless and trouble-free claims process.
• Facility to buy Chola MS commercial vehicle insurance online through simple and hassle-free procedures.
• Quick and easy online Chola MS commercial vehicle insurance renewal process.
• The company will pay a fixed allowance of Rs.500/-, Rs.1000/-, Rs.1500/-, Rs.2000/- or Rs.3000/- per day as per option exercised during the period of non-availability of insured vehicle due to partial loss claim for specified days.

Factors Covered and not covered under Chola MS Car Insurance

Chola MS commercial vehicle Insurance coverage

Chola MS commercial vehicle Insurance non- coverage

Third Party Personal Liability with unlimited coverage. The amount decided by the court as your liability to a third party due to accidental death caused by your vehicle will be compensated by insurance company. Third Party Property Damage with a maximum cover of INR 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. Malicious acts. Terrorist activity. During transit by rail, road, inland waterway, air or lift. Landslide and rock slide. 5. Personal Accident Cover with compensation for owner cum driver. 6. Third party liability Death or injury caused during loading or unloading of the vehicle. damage to property caused during loading or unloading of the vehicle.

Accidental damage or loss due to negligence. Accidental loss or damage if you are driving under the influence of alcohol or drug. Loss or liability while the vehicle is being used outside the scope of limitations of use . Loss or liability when vehicle is being driven by a person not having valid license. Consequential loss due to depreciation, wear & tear. mechanical & electrical breakdown / failure of breakages. Loss due to nuclear weapons or radioactivity. Loss due to war and related activities. Any accidental damage and liability caused outside the geographical area.

Subject to a deduction for depreciation at the rates mentioned below in respect of parts replaced :

1. For all rubber/ nylon / plastic parts, tyres and tubes, batteries and air bags – 50%
2. For fibre glass components – 30%
3. For all parts made of glass – NIL
4. Rate of depreciation for all other parts including wooden parts will be as per the following schedule.

AGE OF VEHICLE	% OF DEPRECIATION
Not exceeding 6 months	Nil
Exceeding 6 months but not exceeding 1 year	5%
Exceeding 1 year but not exceeding 2 years	10%
Exceeding 2 years but not exceeding 3 years	15%
Exceeding 3 years but not exceeding 4 years	25%
Exceeding 4 years but not exceeding 5 years	35%
Exceeding 5 year but not exceeding 10 years	40%
Exceeding 10 years	50%

SUM INSURED -INSURED’S DECLARED VALUE (IDV)

The Insured’s Declared Value (IDV) of the vehicle will be considered to be the ‘SUM INSURED’ for the purpose of this policy which is fixed at the commencement of each policy period for the insured vehicle.

AGE OF 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%

The insured vehicle shall be treated as a CTL ( Constructive Total Loss) if the aggregate cost of retrieval and / or repair of the vehicle, subject to terms and conditions of the policy, exceeds 75% of the IDV of the vehicle.

Other Add on Covers available under Chola MS Commercial vehicle Insurance policy

• Waiver of reduction in depreciation for partial losses

Reimbursement will be given for the cost of parts replaced due to accidental damages in full or reduced percentage of depreciation depending on the cover opted.

• Reinstatement Value Basis(RVB) of fixing vehicle sum insured

Your vehicle and the declared accessories are insured on ‘REINSTATEMENT VALUE BASIS’ which is the original invoice value excluding the registration charges and road tax. This add-on cover will also provide for waiver of reduction in depreciation by 100%.

No Claim Bonus (NCB) protection

You will not lose NCB even if you make one Own Damage(OD) claim in the policy period.

• Coverage for road tax and registration charges

You will be eligible for reimbursement of residual amount paid towards road tax and registration charges of the insured vechicle in the event of total loss of any nature.

• Coverage of insured cost

If the insured vehicle suffers a Total Loss/Constructive Total loss(CTL), then the insurance cost for the new vehicle will be borne by the company subject to premium paid.

• Consumables coverage

You will be reimbursed the cost of consumables like engine oil, oil filter, nut and bolt, screw, washers, grease, etc, actually consumed and utilized for repairing the accidental damages/losses.

• Reimbursement of cost of duplicate key

You are eligible for reimbursement of cost of obtaining duplicate vehicle key of the insured vehicle if originals are lost.

• Registration certificate loss cover

You will be paid a fixed amount of Rs. 2,000/- to obtain duplicate registration certificate if original certificate is lost due to any reason.

• Cover for permit loss

You will be paid a fixed amount of Rs. 2,000/- to obtain duplicate permit if original permit is lost due to any reason.

• Penalty coverage

The company will reimburse the penalty imposed by your client/customer on your for the delay in the delivery or damage of their goods caused due to accident to insured vehicle.

• Franchise benefit

You will be offered a discount in OD premium for having agreed to a franchise of Rs. 10,000/- for each claim.Claims in excess of Rs. 10,000/- will be considered in full subject to policy terms.

Documents Required to buy Chola MS commercial vehicle insurance policy

• Registration no
• Engine no
• Chassis no
• Previous policy number if you are holding any
• Month and year of vehicle manufacture,
• Date and city of purchase,
• Your address,
• Phone no and email id.
• Keep your RC copy by hand.

Claim Process in Chola MS Car insurance policy

Step 1	Intimate your claim by calling – 1800-103-5354 / 1800-209-5354. Please provide the following details when you call customer care to intimate about claim. Your Contact number Policy number / Cover note no. or Vehicle no., Chassis no and Engine no. Date & Time of loss Loss location Nature & extent of loss Nature of injury if any
Step 2	Chola MS insurance customer service center will register the claim. customer service center will provide you the claim registration number for all future references.
Step 3	In case of major accident insurer will come for spot inspection. Send your vehicle to the workshop for repair. A detailed survey will be done on the accident. The surveyor will authorize the workshop to begin the repairing work . surveyor provide you the information regarding the claim settlement mode. Depending upon your case, claim can be  case cashless mode or reimbursement mode.
Step 4	Workshop will carry out the repairs and inform the surveyor after completion.
Step 5	Car will come to you after getting repaired. Then you need to give confirmation weather the car repaired is satisfactory or not.

Documents required for Chola MS car insurance claim settlement

1. Claim form completely filled with signature of insured person.
2. Original and Self attested photocopy of RC book for verification.
3. Original and Self attested photocopy of license for verification.
4. Police FIR (In case of Third Party property damage /Death / Body Injury).
5. Estimate for repairs from the repairer where the vehicle is to be repaired.
6. Repair Bills and payment receipts.
7. Claims Discharge Cum Satisfaction Voucher if you have availed cashless facility at cholamandalam ms general insurance preferred garages.

Additional Information under Chola MS Commercial Vehicle Insurance:

cholamandalam ms general insurance contact number:

cholamandalam ms general insurance avails 24×7 customer care facility for spot assistance to customers.

Chola MS Commercial Vehicle Insurance premium Calculator

Through Chola MS Commercial Vehicle Insurance premium Calculator we can calculate the annual premium based on depreciation value and IDV value given. Chola MS Commercial Vehicle Insurance premium Calculator gives you approx amount to be paid during buying new policy and renewing the old policy depending upon the details you have given.

FAQs on Chola MS commercial vehicle insurance policy

1. Which type of vehicles come under Chola MS commercial vehicle insurance policy

Ans. Chola Commercial Vehicle Insurance is a one-of-its-kind motor insurance policy designed to especially protect vehicles that are not used for personal purposes.

The vehicles covered under this policy include:

• Passenger Carrying Commercial Vehicles: SchoolBuses, vans, taxis, etc.
• Goods Carrying Commercial Vehicles: Trucks, mini trucks, etc.
• Tractors
• Miscellaneous Vehicles: Excavation, Cranes, Loader, etc.

2. What are the documents required to buy Chola MS commercial vehicle insurance policy?

Ans.

• Registration no
• Engine no
• Chassis no
• Previous policy number if you are holding any
• Month and year of vehicle manufacture,
• Date and city of purchase,
• Your address,
• Phone no and email id.
• Keep your RC copy by hand.

Documents and forms under Chola MS commercial vehicle insurance policy

Chola MS Commercial vehicle insurance policy wordings

Chola MS Commercial vehicle insurance liability policy wordings

Chola MS Commercial vehicle insurance claim form

Chola MS Commercial vehicle insurance Addon covers

About Chola MS Personal Accident Insurance

About Chola MS Car Insurance