Cholamandalam MS General Insurance Co. Ltd. is a joint enterprise between the Mitsui Sumitomo Insurance Co. Ltd, Japan and the Murugappa Group. The firm is considered as one of the top insurance firms in India with 109 branches located across the country and more than 9,000 agents offering the best insurance services to people.
Chola MS car insurance claim process has the following features:
The following steps are involved in the claim process:
Get the document copies verified against the originals by the surveyor in order to process your claim.
In case of a cashless claim, after your vehicle is repaired at the garage, the insurer will directly pay the garage for the repairs made to your car. Post payment, your car will be delivered.
In case of a reimbursement claim, after your car has been repaired, you need to pay the garage for the repairs made and collect the invoice and payment receipt for the same. Submit the invoice and payment receipt to the insurer and get the amount you spent on your vehicle repairs reimbursed.
The Chola MS car insurance claim process will not be applicable under the following circumstances:
In case you sell your car, you can choose any of the following options for your car insurance:
You can submit a Letter of Endorsement along with the vehicle Registration Copy to the insurer in case you want to incorporate the changes in your insurance policy.
To add Hypothecation: You have to submit a letter from the bank/an Endorsed RC copy to your insurer.
To delete Hypothecation: You have to submit a NOC/an Endorsed RC copy to your insurer.
A No Claim Bonus is a discount on the insurance premium rewarded by the insurer to the insured for every claim-free year.
IDV is an acronym for Insured's Declared Value and is the present market value of your vehicle which is inclusive of the vehicle and vehicle parts rate of depreciation.
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