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Car Insurance

Compare Car Insurance

Comparing types of Car Insurance Policies:

Coverage Third Party (TP) only Own Damage (OD) only Comprehensive (OD + TP)
Third party Property damage or Personal injury
Personal Accident Coverage
Loss or Damage to Vehicle due to
  • Fire, explosion, self-ignition, lightning
  • burglary, housebreaking, theft
  • RSMD*
  • Earthquake
  • STFI
  • Malicious Act
  • Terrorism
Damage whilst in transit
Nil Depreciation Add on++ Add on++
Consumables plus Add on++ Add on++
Return to Invoice Add on++ Add on++
Hydrostatic (Engine Protect) Add on++ Add on++
Chola Value Added Services (Road side Assistance Services) Add on++ Add on++

*RSMD- Riot, Strike, Malicious Damage

*STFI- Storm, typhoon, tempest, hurricane, flood, inundation, cyclone, hailstorm, frost, landslide, rockslide.

++Optional Add-on covers on payment of additional premium.

Add On Covers:

Nil Depreciation:Depreciation in motor insurance often refers to the loss in value of an asset over time due to factors such as age, wear and tear, and obsolescence. Vehicles, in general, are depreciating assets. For example, a new car will cost more than an older one. Similarly, there is a certain depreciation associated with all the materials the car is made up of such as glass, plastic, metal etc. Each of the materials or parts have a different rate of depreciation.

In the event of an accident, if your car is damaged, you may not be able to recover the entire expense incurred on the parts replacement. The geneal insurace company only pays for the replaced parts after deducting the depreciation amount. The insured person has to pay for the difference between the market value of the new part and the depreciated part of the car.

  • On purchase of `Nil dep’ Add-on cover there will be no depreciation applicable on replacement of parts for partial loss claims.
  • This Add-on cover is applicable for vehicles upto 5 years of age from the date of First Registration.
  • Unlimited number of claims in a policy period is payable.

Consumables Plus : Consumables refer to those materials of your car that serve a specific purpose – like a nut, a bolt, or even grease – that once used, are consumed completely. Consumables are things that therefore have to be replaced or refilled frequently because of continuous wear and tear or usage.

  • On purchase of `Consumables plus’ Add-on cover the company reimburses cost of consumables items such as nuts and bolts, screw, oil filter, fuel filter, bearings, washers, clips, wheel balancing weights, grease, wheel bearings, distilled water, engine oil, gear-box oil, power steering oil, AC gas oil, air conditioner refrigerant, battery electrolyte, wind-shield washer fluid, radiator coolant, oil filter, fuel filter, air filter element, brake oil, coolant and items of similar nature
  • Applicable for vehicles up to 7 years of age from the date of First registration.
  • Unlimited number of claims in a policy period is payable.

Return to Invoice: Buying a Return to invoice cover will ensure that in case of total loss / constructive total loss or theft of your car, you will get the

  • Show room value of the brand new vehicle of the same make, model and variant with all applicable taxes
  • Registration cost incurred with the Transport Authorities
  • Road tax
  • Car Insurance premium towards Policy availed with us and in force on the date of accident

In simple terms, IDV is the market value of your car which depreciates with time. This add-on pays the difference between the approved claim amount for your car and the original purchase (on road) price of the vehicle in case of total loss/constructive total loss / theft of the vehicle. However, if the same model is available at a price lower than the original purchase price, the former will be taken into account.. This cover is typically available for vehicles that are up to five years old from the date of First Registration. It is not mandatory to replace the vehicle under this Add-on cover.

Hydrostatic lock plus: insured will be reimbursed the cost incurred to repair or replace parts of engine or gear box or differential assembly including packing kit & under body damage due to ingress of water into the vehicle covered under this policy or due to leakage of lubrication or loss or damage to engine cooling system.

The Add-on cover is subject to the following terms and conditions:

  1. Claim due to water damage cover is payable only if there is an evidence of the insured vehicle being submerged or having stopped in water logged area.
  2. Claim has to be intimated to the insurance company immediately.
  3. All reasonable precautions are taken to protect the vehicle to avoid aggravation of damages / loss.
  4. The replacement value which is the cost of a new engine or gear box or differential assembly shall be subject to depreciation based on age of the vehicle as per policy terms.

Chola Value Added Services:

Chola MS offers Road side Emergency assistance support to the insured vehicles on Road during the time of emergency and distress. If the insured vehicle on Road is immovable due to Electrical / Mechanical Breakdown or Accident road side assistance support will be provided.

Chola MS has a dedicated Facilitator to dispatch all the listed services through Service providers at the time of emergency.

Some of the services provided by the facilitator are listed below:

  • Assistance over phone
  • On site minor repairs
  • Battery Jump start
  • Flat tyre replacement
  • Towing for Accidental and non-Accidental Cases
  • Clutch / Brake setting
  • Fuel Delivery for Private Cars

What to do when your Vehicle is immobilized on Road?

One simple call to our Facilitator will bring you services to your vehicle at your foot step:

  1. You can call 1800 103 5354 / 1800 209 5354 to avail these Services if the vehicle is immobilized.
  2. The Facilitator with whom the Insurance Company has an agreement verifies the insured Policy No./Certificate No. issued by Chola MS
  3. The Facilitator checks the customer’s location and Supplier Network at that location and despatches services to the Customer’s location
  4. The facilitator verifies whether the customer has received the service, if not, service from another Supplier is despatched
  5. The Claimant need not submit any Claim documents to the insurer. At the time of distress the services will be provided by Facilitator subject to a valid Motor Comprehensive Policy.
SR. No. Name of the Product Details UIN
1 Motor Private Car Package Policy OD + TP IRDAN123P0001V02100001
2 Motor Private Car Liability Policy TP only IRDAN123P0012V01200203
3 Chola Standalone Own Damage Policy for Private Car OD only IRDAN123RP0002V01201920
4 Waiver of Depreciation OD + TP and OD only IRDAN123A0003V01200910
5 Consumables Plus Cover OD + TP and OD only IRDAN123A0007V01201617
6 Vehicle Replacement Advantage Cover OD + TP and OD only IRDAN123A0011V01201617
7 Hydrostatic Lock Plus Cover OD + TP and OD only IRDAN123A0010V01201617
8 Chola Value Added Services - Private Car Package Policy OD + TP and OD only IRDAN123A0006V01201718
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