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Cholamandalam Standalone Own Damage Car Insurance

Purchasing a Cholamandalam Standalone own damage car insurance can financially protect your four-wheeler from unforeseen damages like accidents, fire, theft, manmade and natural disasters. This policy by Cholamandalam MS General Insurance can be purchased online at an affordable premium.

Categories	Key Features
Own Damage Cover	Yes
Mandatory	No
No Claim Bonus	Yes
Add-on Covers	Offered
Zero Depreciation cover	Yes
PA Cover	Upto Rs. 15 Lakh

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Coverage Under Cholamandalam Standalone Own Damage Car Insurance

Inclusions
Exclusions

Losses arising out of the theft/burglary of the insured car
Damages to the insured vehicle due to natural calamities like floods, landslides, earthquakes, etc.
Damages arising out of manmade disasters like terrorism, strikes, riots, etc.
Damages arising out of road accidents or by external means
Losses sustained by the insured car due to fire or explosion are covered.

Any damage arising post-expiry of the standalone OD policy will not be covered
General wear and tear, and depreciation are not covered
Electrical or mechanical breakdown sustained by the insured car
Third party damages such as third party property damage, death and bodily injuries
Driving under the influence of alcohol/drugs
Damages due to war, terror attacks, nuclear perils
Damages sustained by the insured car when the driver was driving under the influence of alcohol are excluded from the coverage
Claim cannot be raised for any damage that is not within the scope of insurance cover

Add-ons Under Cholamandalam Standalone Own Damage Car Insurance

Add-ons are optional covers offered under a Chola MS own damage car insurance policy. These add-ons extend the coverage of a standard OD coverage and can be purchased by paying an extra premium. The additional covers offered by Cholamandalam General Insurance Company include:

No Claim Bonus Protect Cover
Monthly Installment Cover
Consumables Cover
Zero Depreciation Cover
Key Replacement Cover
Daily Allowance Cover
Personal Belongings Cover

How to Buy Cholamandalam Standalone Own Damage Car Insurance Policy?

A Cholamandalam own damage cover can be purchased online by following the steps mentioned below:

Visit the official website of Policybazaar Insurance Brokers Private Limited (Policybazaar.com)
Select ‘Car Insurance’ tab from the homepage
Enter your car number in the given form
Enter your car’s RTO, make, model, variant and registration year
From the given standalone own damage plans of multiple insurers, select Cholamandalam OD cover and check its policy details
You can also opt for add-ons by selecting them from the “Addons and Accessories” dropdown
Once you are satisfied with your plan, pay the premium amount via any of the mentioned online payment modes
As soon as you have paid the premium, your Cholamandalam own damage car insurance policy papers will be sent to your email address.

Documents Required to Raise a Cholamandalam Standalone Own Damage Claim

To raise a Cholamandalam Standalone own damage car insurance claim, a policyholder will need the following documents:

Duly filled and signed claim form
Chola own damage car insurance policy documents
Copy of vehicle’s Registration Certificate
Copy of driver’s driving license
KYC documents
Bills and estimates of repair in case of reimbursement claims

FAQs

Q1. Is own damage a mandatory cover?

Ans: No. An OD cover is not a mandatory cover as per the motor laws of India. With the new guidelines of IRDAI, purchasing a OD cover along with a 3 year third party coverage is not mandatory anymore. Thus you will have the option to purchase or renew this cover for the second year.
Q2. What is the period of own damage cover?

Ans: An OD cover can be purchased for a period of 1 year after which it has to be renewed.
Q3. How to claim Cholamandalam car insurance for own damages?
Ans: To raise a claim under Cholamandalam own damage car insurance, you can follow the steps mentioned below:
- Call the insurance company and inform them about the damages to your car
- A surveyor will now be appointed to assess the damages sustained by your vehicle
- Submit all the required documents and get them verified
- Once verified, your car will be sent to the network garage for repairs and the claim will be settled by the insurer.
Q4. Who is eligible to buy a Chola OD cover?

Ans: Any car owner who has bought his/her car after 1st September 2018 and has a TP cover for 3 year is eligible to purchase a Cholamandalam standalone own damage car insurance.
Q5. What is the difference between an own damage and third party insurance?

Ans: A third party liability insurance covers any third party damages caused due to an insured car. It compensates for third party property damage, death and injury of the third person. Whereas an OD cover only covers any own damage sustained by the insured car due to unforeseen incidents such as accidents, theft, fire, etc. This policy can be purchased along with the mandatory third party car insurance to extend coverage to own damages as well.

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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in