Chola MS Car Insurance

Chola MS offers a comprehensive car insurance policy that provides a third-party liability cover, a personal accident cover, and an own damage cover. The insurance company also offers benefits like cashless services and discounts to customers.

Cholamandalam MS General Insurance Company Ltd (Chola MS) is a joint venture between the Murugappa Group, an Indian conglomerate, and the Mitsui Sumitomo Insurance Group (MSIG), a Japanese assurance company. Headquartered in Chennai, offering products like Motor Insurance, Health Insurance, Travel Insurance, Personal Accident & Home Insurance.

Chola MS Car Insurance Policy Highlights Updated on 23 Jan 2022

Features Specifications
Third Party Cover Upto 7.5 L
Cashless Network Garages 5300+
Incurred Claim Ratio* 79.65%
Net Earned Premium* 2266.41 crore

*For Year 2017-2018

Chola MS Car Insurance


Co. Ltd. is an Indian-based insurance company, headquartered in Chennai. Over the last decade, this provider has grown quickly and continues to gain ground as an insurer of choice.

The company’s operations are driven by its cornerstone principles of trust, transparency and technology. Its current network comprises of 90 branches spread across the country and is supported by agency channels comprising of about 7,000 agents. To further its reach, the company has created value-added ties with banks and auto financiers.

Chola MS’ product portfolio consists of plans that are varied in nature to meet the general protection needs of customers. Their insurance offerings span the spheres of health, car, travel, home and personal accidents.

Car Insurance - Who needs it?

Third-party liability cover is a must for all vehicles in use on Indian roads. This is mandated by law i.e. driving without third-party insurance is illegal.

Third-party insurance is a policy whereby any loss caused to another person by the insured in the event of an accident will be compensated for by the insurer. Damage includes injury to another person’s body or property. It also includes the loss of another person’s life.

Own-damage insurance is a policy whereby the insurer compensates the insured for any loss caused by another person. It could be for bodily injuries or damage to property (including the vehicle). Own-damage cover is optional but advisable.

No one can predict when or what kind of damage will result from an accident. It is always in the best interest of the owner-driver to have a comprehensive policy which takes care of financial losses of any kind.

Sometimes mother nature is to blame for unforeseen damages as a result of natural calamities e.g. floods, earthquakes etc. Loss can also occur due to fire and theft. A comprehensive policy takes care of all these events.

Chola MS - Driving You To Safety!

Chola Protect Car Insurance

Touted as an all-round protection package, this plan offers unique features and benefits that are sure to bring the holder financial safety and peace of mind.

Deliver Us Oh Chola! - Coverage

Chola Protect offers the following covers:
  • Third-party liability:
  • Unlimited - as per court-decreed expenses to compensate for death/injuries caused to another person
  • Up to Rs.7.5 lakhs for damages to another person’s property
  • Own-damage: Losses incurred due to
  • Fire including that caused by explosions, ignition, lightning
  • Theft
  • Civil unrest (strikes/ riots), terrorism, war and related activities
  • Natural calamities like floods, earthquakes, landslides, storms etc.
  • On-road accidents or during transportation
  • Personal Accident: Compensation provided to
    • Owner and passengers
    • Insured’s employees (as required by law)

Delivering The Goods - Sum Assured

When a claim is made, the payout is based on the sum insured which is arrived at using either of the following two options:

  • The Insured’s Declared Value (IDV):This is arrived at by deducting depreciation* from the car’s selling price (as stated by the manufacturer at policy inception/renewal)
  • Invoice Value under the Reinstatement Value Basis option

*Depreciation amount for arriving at IDV is based on the age of the car as follows:

(This relates to Total or Constructive Loss Claims)

5% up to 6 months
15% between 6 months to 1 year
20% between 1 year to 2 years
30% between 2 years to 3 years
40% between 3 years to 4 years
50% between 4 years to 5 years

Silver Linings – Discounts

Discounts included as part of the plan add to the attractiveness of this offer. They are:

No-claim bonuses Awarded for displaying low-risk behaviour by not making any claims during a policy year
Membership discounts Offered for Automobile Association memberships
Safety devices Cost benefits for installation of anti-theft mechanisms

Going The Extra Mile - The Benefits

Losing money is bad enough but having to deal with the inconvenience of a car under repairs is worse. It’s all the little things that tend to get ignored in a big mishap. Chola MS understands this and presents to its policyholders the following added benefits:

Daily Allowance A fixed amount of Rs.500 or Rs.1,000 is provided to the insured person per day (up to 5 days) to pay for hired transport during the period his/her vehicle is under repairs.
Reinstatement Value Under this, claims can be made for the original amount paid i.e. the invoice value (adjusted for registration charges and road tax). No deductions will be made towards depreciation on parts that are repaired.
Depreciation Waiver This depends on the part in question and the car’s age.
Personal Luggage Cover Up to Rs.10,000 per policy period for loss of personal luggage locked inside the car during the accident/fire.
CARE i.e. Chola Assistance for Roadside Emergencies Assistance in case of fuel shortage/ breakdowns/flat tyres/battery recharge and other on-site repairs as outlined in the CARE plan.

In addition to these, the company also offers online purchase/renewals of policies, quick and easy settlement of claims and cashless repairs at any of its associated garages which are part of a far-reaching network.

Caveat Emptor – Exclusions

Don’t be caught unawares! Claims will not be entertained if losses arise due to the following:

  • Driving under the influence
  • Unauthorised driving (i.e. without a valid license)
  • Accidents that could reasonably have been prevented
  • Using the car outside the specified geographical limits
  • Depreciation, general wear and tear
  • Mechanical/Electrical failures
  • Nuclear damages/ War/Terrorism and related activities

Chola Protect goes beyond providing adequate protection with it's unique which enhances it's attractiveness thereby making it a policy of choice for every car owner.

Chola MS Insurance Customer Care:

Customers can contact Chola MS General Insurance by dialing the toll-free number, 1800 200 5544. Customer service representatives are available 24/7 to assist you.

For customers staying abroad, the contact number is 9144 3098 5300. You can also request for a call back from the insurer by submitting an online form through the website. The email ID of the customer care team is You can contact the insurer by sending an email.

Other ways in which you can get in touch with the insurer include sending an SMS or mail at the registered address of the company. You can also report your feedback on the website of the insurance company through an online form. In order to find details of the cashless garages of the insurer, select the appropriate option on the insurer’s website and update your state and city.

News About Chola MS Car Insurance

  • Chola MS Joined Hands With Oriental Bank To Offer Insurance Products

    Oriental Bank of Commerce and Cholamandalam General Insurance Company has come together to offer affordable insurance products to their customers. Chola MS has agreed to offer an array of non-life insurance products to Oriental Bank of Commerce customers. Some of the insurance products they will offer are motor, health, travel, and home insurance. Animesh Chauhan, MD and CEO of Oriental Bank of Commerce stated that they are glad to have partnered with Chola MS and this will benefit a lot of their customers. Managing Director of Chola MS, S.S Gopalarathnam also stated that it is a privilege to be partnered with such a reputable bank.

    16 March 2017

  • Chola MS Records 5% More Claims through Holidays.

    A recent analysis about the behaviour of motor insurance claims in India has thrown up an interesting trend, namely that these claims are upped a notch through holidays, festivals and long weekends. Chola MS Car Insurance, a reputed player in its category speculates that it witnesses a sizable increment in insurance claims through such durations as compared to normal times (these stats point to a 5% increment in such claims in 2014 as compared to 2013). The insurer has also keyed in on the most potent time of the year when such claims can be attributed to drunken driving or over-speeding in the wake of a festival or other such occasion- “extended weekends in the monsoon" chimes in SS Gopalarathnam, MD, Chola MS Car Insurance.

    27 January 2015

GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017

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