When we know that life flips at every moment then taking risks over anything can be injurious and that is why it is highly recommended to own an insurance plan, not only for your life and health but also for your belongings. Why? Simply because our body needs maintenance and protection from various factors running behind in life, similarly our belongings also need protection and maintenance for better results and future working. In this list, having car insurance is on the top without any doubt.
What is a Car Insurance?
Well, it’s very easy. Just as our body and health need protection and maintenance, likewise, our belongings especially our car needs maintenance and protection at a time of emergency, having car insurance at the time of unwanted expenditures is bliss, as it saves money being spent from your savings and your pockets.
In simple words, nowadays it is highly recommended to own car insurance for better and tension-free living.
There are three major types of insurance plans that Choldmandalam offers and equips every one of us with. To start with:-
Comprehensive Car Insurance:
The comprehensive car insurance provides you coverage for the damages that are self-caused or by the following conditions:
- Natural Calamities like earthquakes, Flood, cyclones, and more.
- Damage done by any wildlife animal.
- Damages caused due to any civil disturbance.
Now let us have a look at some of the major highlights of this Comprehensive Car Insurance Policy:
- It is very pocket friendly.
- The claim settlement process and every thing is extremely easy and hassle free.
- It provides coverage on various factors starting from theft to accident and more.
- Along with your car it covers you as well.
- As it is mandatory to to buy Third Party Car Insurance and if you buy this policy as well, it increases your investment and coverage.
Third-Party Car Insurance:
This is a stress buster for every car owner. Why? Simply because first of all, it is mandatory for all the car owners to have this car insurance plan in their bag of insurance as it is being said by the Motor Vehicle Act 1988 and secondly because it saves us from giving away your savings for the loss of other because of the involvement of the car. This car insurance eases your load and compensates for all the loss and damage done to the third party because of your car’s involvement.
Some major highlights of the Third Party Car Insurance are:-
- The premium rate are very low.
- The compensation amount of RS. 7,50,000.
- It eases your stress level.
Own Damage Insurance
Own Damage Insurance or StandAlone Own Car Insurance works just as the name says. It covers and saves the policyholders at the time of emergency conditions caused by incidents like natural calamity, theft, etc. This plan is only applicable if you already own or are willing to own the Third Party Insurance.
According to the Insurance Regulatory and Development Authority of India, (IRDAI), car owners are permitted to own Standalone Own Car Damage Insurance both for old cars and new cars as well. Although it is not permitted according to the guidelines issued by the authority to have this plan for a longer duration. It is only permissible to avail of it for a small period of time.
Choldmandalam Car Insurance Reviews Section is Here:
Say hey to the review section of the Choldmandalam Car Insurance Policy.
The major highlight of this section is:-
- Easy and quick assistance over any emergency related to car.
- They provide a wide of plans to compare and go for.
- They also provide exciting add on features.
- The premium payment rate is comparatively less.
- Their online service is perfect as well.
- The plans are pocket friendly.
- While buying and opting any of the plan, there is no hassle at all. It is all easy and breezy.
- One of the best and most starred feature is that they provide their customers with no claim bonus and certificate as well.
- Choldmandalam provides you with easy EMI payment process.
- It also covers the driver along with the car.
Some add-on features provided to you by Choldmandalam MS Car Insurance
Come, let’s have a look over a few of them.
Protection from No Claim Bonus
The No Claim Bonus is a shining add on feature. It is saved only if the policy is renewed 30 days prior to the expiry date. It is only available and underused if the amount is claimed for once in the whole of the policy duration and also the age of the vehicle should not be more than 5 years at the time of the start of the policy.
Daily Allowances are Fixed
Yes, the car owner will receive RS. 500 to RS. 1000 to hire a cab or car to meet the ease at daily work when the car has met with some accident and is under repair.
NOTE:- It is only applicable for a single claim.
Value of Reinstatement
This feature ensures you with maximum claim benefit. Yes, it gives your car full investment security with compensation based on the condition and actual value of the car. It takes zero depreciation charges on the parts which are repaired. This feature is brand-specific and it is applicable on a first new year of car insurance renewal with a condition that there have been no claims taken in the first year.
NOTE:- Vehicle registration fees and Road taxes are not included here.
The insured vehicle or car will be paid or served a certain amount of money in case of any loss or damage, but it demands upon the age of the vehicle. Under this add on feature along with the vehicle’s loss, it also covers and reimburses the amount of the things (clothes or any other thing) kept inside the car at the time of the accident.
The amount to be paid as reimbursement is RS. 10,000.
This particular add on has certain exclusions, like, any electronic device, be it laptop, I-Pod, or, jewellery, cash, cheque, artwork, and things like these are excluded from this feature.
Coverage of Key Replacement
In case of any expenses related to keys of the car, which includes replacement of the keys, or even the replacement or repair of the whole of the lock system of the car.
To claim this feature one need to provide the original FIR file in case of theft.
Coverage of Licence Loss
The compensation amount of this particular loss is fixed and it is RS. 1000, but to claim this one need to submit the following documents:
- FIR copy
- Copy of the original license
- Copy of duplication license
- A self-signed declaration form which states that you’ve not claimed a certain amount from any other insurance provider.
Must be thinking that how will you reach out them.
Well, well! Not to worry at all, here are some of the major contact details,
Toll-Free Number: 1800-200-5544 (Only for Indians)
9144-3098 5300 (For Abroad Customers)
Documents Required For Cholamandalam Car Insurance:
Here’s the list of documents that one requires to buy any of the Choldmandalam Car Insurance Policy Plan:-
- Correctly and duly signed claim form.
- Original keys of the car/vehicle along with the RC.
- Driving licence photocopy.
- Original documents of the policy.
- In case of any theft, copy of the filed complaint, FIR.
- Registration Certificate, Driving licence and also the PAN Card.
Benefits and Highlighted Features of Choldmandalam Car Insurance
Choldmandalam is one of the leading car insurance providers and it provides you all with certain good features and benefits. A few of them are listed below:-
Super Easy Claim Settlement Process:
When it comes to the claim settlement process, they provide you with extremely easy and the team is standing by there to help you with every query and assistance.
Now, what is NBC, it is a No Claim Bonus, which means that each year in which there is absolutely no claim activity seen, you’ll get some exciting bonuses and discounts.
There are a lot of troubles that a car owner faces at every stage and so the Choldmandalam Car Insurance Plans are there to rescue you from all your troubles and hassles. They provide you all with plans that cover the third party and own car damage, not only this, they also provide you with many add-ons features.
They provide you with the best team of dedicated and hardworking members. Their assistance is available round the clock at your service.
As we Indians are growing and evolving much and more with each passing day in the field of going cashless, we look for going cashless everywhere we go and anything we do and so choldmandalam provides you with the facility of going cashless, you can pay instalments online and also can renew your subscription online not only this, one can also file and get the claim amount online. So, the team of Choldmandalam Car Insurance Policy extends their hand in the motion of going cashless. Grow as the world is growing.
It’s easy to Buy
In the trend of going online, the team of experts offers you all to go online and buy any suitable plan of your choice. As there are so many different plans available on the website, people get a chance to compare and then opt for the plan that they find beneficial for themselves.
There are times when we hardly utilise or claim our policy amount and then comes time when you get daily allowances which adds on to your over all claim amount.
Why Should One Opt for the Choldmandalam Car Insurance Policy?
This is something that you all can figure out very clearly, still to ease your workload, here’s is the list of features that pushes you to buy and invest your time and money in Choldmandalam Car Insurance Policy.
- The process of claim settlement is very easy and quick.
- The staff is very efficient and supportive. They are available 24/7 to help you out with all your troubles and queries.
- It provides you no claim bonus.
- The buying of your favourite plan is very easy.
- It helps you go cashless.
- It provides you with comprehensive coverage.
Choldmandalam Car Insurance Coverage:
The Choldmandalam Car Insurance Plan is a blessing in disguise for car owners everywhere. It not only provides own-damage car insurance but also helps you at the time of third party car insurance.
Types of Coverage Available
Own Car Damage Insurance
This insurance policy offers coverage under the following situations:-
- Self Ignition
- Any act of Terrorism
- Any natural calamity, like, earthquake, flood, and more
Third-Party Damage Insurance
This insurance is guided by the Insurance Regulatory and Development Authority of India under Motor Vehicle Act 1988. It covers our body injuries and also third party damages and in total it provides coverage of about RS. 75000 for any sort of loss and damage.
Personal Accidental Coverage https://www.cholainsurance.com/
If the insurance holder dies because of the accident or becomes completely disabled, in the case of your insurance amount if is approximately two lakhs then it is provided to the family at the premium of RS. 100. Here the passengers sitting in the car gets the same amount in the same condition and situation.
Say Hey to all the Discounts offered by Choldmandalam Car Insurance
The Choldmandalam Car Insurance Provider offers a wide range of discounts, come let’s have a look:-
With each passing year of no claims at all, the consecutive years comes up with some discounts.
- Starting with the first year, the discount percentage is 20.
- Then a second consecutive year of no claims pays you a discount of 25 per cent.
- Then in the same manner the third consecutive third year of standing claim free comes up with a 35 per cent of discount.
- The fourth consecutive year of claiming zero coverage amount offers you with 45 per cent of discount.
- The list goes on the same way to the fifth consecutive year provides you with 50 per cent of discount.
The Claim Settlement Process of the Choldmandalam Car Insurance Policy
Now is the time to bring some attention to the claim settlement section of the Choldmandalam Car Insurance Plan.
All you need to do is to follow the below-listed steps to claim the amount at the time of emergency.
A. In case of Car Accident Claim
- First you need to contact the staff members on the toll-free number.
- File a claim with properly signed claim form.
- Copy of documents like, driving licence, RC book and policy document.
- Copy of FIR, if needed.
- Repair bill
- In case of reimbursement, provide the estimate bill, original invoice and payment receipt.
B. In case of Car Theft Claim
- Contact on the toll free number for collecting proper information regarding the claim.
- Lodge the claim with properly signed claim form.
- Submit the keys along with a copy of your driving license, RC book and policy document.
- Copy of FIR.
- Properly signed form 28, 29, 30 and 35.
- Final report of the police with “No Trace” being mentioned on it.
C. In case of Third-Party Claim
- Contact the toll-free number for collecting proper information regarding the claim.
- Lodge the claim with the properly signed claim form.
- Submit the keys along with the copy of the driving licence, RC book and policy document.
Q1. What kind of insurance policies are provided by Choldmandalam?
Ans: Choldmandalam provides insurances over third party damages only and a comprehensive car insurance policy too and to provide your car more and more protection it also provides you with some add on coverage.
Q2. What is Fixed Daily Allowance?
Ans: Getting a fixed daily allowance is an add on feature offered by Choldmandalam Car Insurance Provider. The one who opts for this feature gets Rs 500 to Rs 1000 as a daily allowance by the insurer to meet the daily needs of the car for the repair.
Q3. Are the roadside assistance services available 24*7?
Ans: A big yes to this. Choldmandalam does extend their hands of help at the time of any emergency or unwanted situations like on-road assistance, fuel delivery, on-site repair at the time of breakdown or flat tyre.
Q4. What is the premium that I have to pay for a comprehensive car insurance policy purchased from Cholamandalam?
Ans: The premium of your car depends on various factors like,
1. IDV, Insurer Declared Value of your car/vehicle
2. Age of the insured car voluntary and involuntary
3. Deductible car insurance add-ons purchased alongside.