Chola Motor Insurance
Insurance of motor vehicles plying on road is mandatory under the Motor Vehicles Act. All kinds of vehicles – private cars, goods carrying commercial vehicles, taxies & other passenger carrying commercial vehicles, tractors & other miscellaneous classes of vehicles can be insured under the motor insurance product.
What is covered?
Motor Insurance covers the unforeseen risks which may result in:-
- Creation of Liabilities (called generically as Third Party Cover)
- Injuries/ Death of persons outside or inside a vehicle. This could be the owner, passengers, driver, pedestrians etc.
- Damage to property of others- also called as Third Party Property Damage
- Financial losses
- Partial damage to the vehicle itself. This may arise due to an accident or external means like riot, strike, malicious act, fire, flood, cyclone etc.
- Theft of parts or theft of the vehicle itself
- Total loss/ damage of the vehicle
The Chola MS Advantage:-
- Comprehensive insurance cover for all vehicle classes
- Cashless facility at over 5000+ garages
- ISO certified Company for claims settlement
- Loss Assessment primarily by our own employees- In house assessors
- Bumper to bumper cover- Nil Depreciation cover at an affordable premium
- Consumables cost covered at an affordable premium
- Special roadside assistance service option provided
- Seamless transfer of the ‘No claim discount’ benefit
STATUTORY WARNING Section 41 of Insurance Act, 1938 – Prohibition of Rebates: (1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer:
Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub- section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.
(2). Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakh rupees.
Insurance is the subject matter of the Solicitation