Cholamandalam MS Car Insurance- Claim Process & Settlement Ratio

Cholamandalam MS, an insurance provider offers a hassle-free car insurance policy that will provide coverage for any loss or damages resulting from an accident. The car insurance policy offered by Chola MS caters to the varying needs of the customers. It offers its own damage cover, third-party coverage, personal accident cover, and passenger cover. Some of the car insurance add-on covers offered by Chola MS include zero depreciation cover, consumables cover, loss of key cover, etc.

The company settles claims in just a few simple steps. With over 8300 cashless garages across the country, Chola MS has a responsive and helpful 24*7 customer support team.

Cholamandalam MS Car Insurance- Highlights

Founded2001
Claim Settlement Ratio96%
Network Garages8300+
Types of Car Insurance PlansThird-party cover, standalone own-damage, and comprehensive insurance policy
Personal Accident CoverageUp to Rs. 15 lakhs
No Claim BonusYes
Official Websitehttps://www.cholainsurance.com/motor-insurance/car-insurance
Contact Information1800-208-5544

Chola MS Car Insurance Claim Settlement Ratio

Claim settlement ratio (CSR) acts as an indicator of the insurance provider’s credibility. The higher the settlement ratio, the more reliable the insurer company is. Cholamandalam MS car insurance features an impressive claim settlement ratio of 96 percent for the financial year 2021-2022.

Chola MS Car Insurance Claim Process

Chola MS provides car insurance policies within a few minutes and with minimum formalities involved. The company offers three types of car insurance plans- Third-party cover, standalone own-damage car insurance, and comprehensive car insurance policy.

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Here are steps to follow to file a claim under the Chola MS car insurance policy.

Informing your insurance provider

The first step in filing a car insurance claim with Chola MS is to intimate the incident involving your car immediately after it occurs for a fast claim registration. Policyholders should notify the insurer about the accident or damage by calling their helpline number or contacting their nearest office. Prompt reporting of the incident is crucial to ensure a smooth claim settlement process.

Register claim/filling the claim form

The next step is to fill out the claim form by submitting relevant documents related to the insured vehicle to support the claim. The relevant documents include a copy of the insurance policy, the claim form, the vehicle’s registration certificate RC, a valid driving license, and any other evidence related to the accident or damage.

Survey the damages

After receiving the necessary documents, Chola MS will appoint a surveyor, who will visit the accident spot or garage to inspect and assess the extent of the loss sustained by the insured car. The surveyor will also verify the documents and prepare a report accordingly, which will help in determining the accurate claim amount.

Claim settlement process

Once the surveyor’s report is verified, the company will proceed with the claim settlement process. If the claim is approved, it will be settled with the network garage in case of cashless claims. In the case of a non-network garage, the policyholder will receive the reimbursed agreed-upon compensation amount after you have paid the bill in full. Policyholders can also track their claim requests by contacting the customer support team.

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Policyholders at Chola MS can also file their car/motor insurance claims online by calling 1800-208-5544. The company now also provides an alternative to initiating claims through live video streaming (LVS).

Documents required for claim settlement

To file a car insurance claim with Chola MS, the vehicle owner has to submit the below-listed documents:

  • A copy of the valid driver’s license
  • A copy of documents related to the insurance policy
  • The original keys to the insured car
  • A copy of the insured vehicle’s RC
  • Duly signed and verified copy of the FIR, in case of an accident
  • The correctly filled and signed claim form
  • No Trace Report from the nearest police station in cases of theft of the vehicle
  • Form 35 and NOC from the lender, in case the insured car has an active loan
  • Duly signed RTO transfer documents, along with Form 28, Form 29, and Form 30.
  • Estimates of repair done through network garage or non-network workshop

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