Standalone Own Damage Car Insurance

What is Standalone Own Damage Car Insurance?

With effect from 1st September 2019, Own Damage is no longer being bundled with Third Party and is being sold as a standalone annual policy. If you bought your car after 1st September 2018, you now have the option of buying a Standalone Own Damage Car Insurance for the second year. With a 3-year Third-Party Insurance policy now being mandatory for all bike owners in India, the purchase and renewal of Own Damage cover is now independent and optional.

With the new guidelines for car insurance, the IRDAI has made third party insurance mandatory for three years. If you purchased your vehicle after 1st September, 2020, you now have the option to buy Standalone Own Damage Car Insurance for the second year. The policy covers the theft of the car and damage due to natural calamities, man-made disasters, accidents or fire and explosions.

Why choose Chola MS Standalone Own Damage Car Insurance?

Here are some of the advantages of the Chola MS Standalone Own Damage Car Insurance

1. Chola MS provides affordable and best-priced premiums to all the customers

2. With a speedy turnaround on claim settlements, the process is designed to be quick and hassle-free for customers

3. Chola MS provides 24/7 assistance with calls, emails or chat support

4. With exclusive discounts, customers are provided with exclusive discounts from pharmacies and leading diagnostic centres in the country

Why choose Chola MS Standalone Own Damage Car Insurance?

Customer convenience lies at the heart of everything we do.

An Own Damage Car Insurance is a special motor-vehicle insurance plan that provides you with protection against against theft, burglary, fire, explosion, man made disasters such as terrorism, riots, strikes, vandalism, etc. and natural disasters such as floods, earthquakes, landslides, etc. The plan also provides cover for damages and losses incurred due to an accident or road mishap.

Here are some Own Damage Insurance benefits you stand to gain when choosing Chola MS:

1. Competitive Premiums
Overpriced premiums have no place at Chola MS. We offer competitive and best-priced premiums to all our customers. Get a quote and find out for yourself. It's just a click away.

2. Low IDV
Customize your IDV to suit your requirement

3. Quick Hassle-free Claims
Get insurance with Chola MS and never wait too long to get your renewals and claims processed

4. Limitless Claims
No restrictions on claims. Register as many as you need until the IDV is exhausted.

5. 24/7 Phone, Email Chat Support
We'll be there for you via chat or even email, 24/7. Making sure your needs are taken care of is our top-priority.

6. Cashless Garages
Get easy access to over 7100 cashless garages, across the whole country. You can find your nearest cashless garage by using your pin code, city and state details on our website.

7. Exclusive Discounts
Be a Chola MS customer and get special discounts on purchases from Pharmacies and even services from leading diagnostic centres from all over the country.

Having an own damage cover in place goes a long way to protect you and your vehicle from various burdens that arise from accidents and mishaps. The financial burdens in such unfortunate situations can be very taxing for an individual's pocket, hence having an insurance plan in place for your valuable motor vehicle can prove to be very helpful. Enjoy every little moment with your vehicle, worry-free with Chola MS motor vehicle insurance in place!

What does your Standalone own damage party car insurance policy give you?

What it covers

- Theft of your car.

- Damage to your car due to natural calamities namely earthquake, landslide, floods etc. and man-made disasters such as riots, terrorism, vandalism etc.

- Damage to your car due to an accident.

- Damage to your car due to fire or explosion.

What it does not cover?

The following events and situations are not covered under this policy -

- If the event occurs post expiry and prior to renewal of the policy, your car will not be covered. Policy must be in force at the time of damage thus it is important to renew on time.

- Depreciation in the value of the car is not covered.

- Any electrical or mechanical breakdowns are not covered under this policy.

- Driving under the influence of drugs/alcohol counts as illegal driving and is not within the scope of the insurance cover

- Any damages to your car due to war, terror attacks, invasion, radiation, rebellion or hostilities will not be covered.

- Activities in violation of the law such as driving without a valid license, driving on the wrong side of the road or underage driving are not covered by the policy.

- Damages due to negligence such as forgetting to lock the car leading to theft are out of scope.

- Damages caused by deliberate attempts such as intentionally hitting your car to cause an accident will not be covered by this policy.